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The Vendorful customer experience: What Makes It Great (Sourcing SolutionMap analysis) [PRO]

Ever since the creation of the first e-sourcing solutions, this headline technology area has been plagued by an Achilles’ heel — end-user adoption. Despite the benefits they could provide, e-sourcing tools have historically struggled to be usable, especially by non-power users, thus obscuring their full potential ROI.

The latest generation of e-sourcing providers, however, has learned from the sector’s founders, and many today boast a user-first approach to usability that encompasses even the needs of non-procurement requesters. That’s exactly what Vendorful, a SolutionMap “Customer Leader” in our graphical market comparison of Sourcing vendors, has done with its solution.

Vendorful is a younger sourcing provider founded by insiders and outsiders of the procurement industry. They saw just how difficult it was for clients to manage sourcing, especially IT spending. Vendorful’s founders made the realization that without proper tools, many companies overspend on IT services and solutions.

After developing its solution for IT spending specifically, other companies wanted to deploy its solution for non-IT spend. Vendorful thus began its commercial offering for general-purpose sourcing. Now, it offers core sourcing solutions, including e-RFX and reverse auction functionality.

Customers also noted its sourcing strengths in the recent SolutionMap Spring 2021 launch.

As of Spring 2021, our Spend Matters SolutionMap contains functional and customer satisfaction benchmarks on more than 70 offerings within the procurement technology landscape. But where does Vendorful stand out most and help “set the bar” in sourcing, and why should this matter for procurement and finance organizations? Let’s delve into the SolutionMap benchmark to find out where Vendorful is great, according to customer scores.

“What Makes It Great” is a recurring column that shares insights from our SolutionMap updates for subscribers to SolutionMap Insider content and PRO analysis. Based on our rigorous evaluation process and customer reference reviews, each column offers quick facts on the provider, describes where it excels, provides hard data on where it beats the SolutionMap benchmark and concludes with a checklist for ideal customer scenarios in which procurement, finance and supply chain organizations should consider it.

Spring 2021 Sourcing: Provider Scoring Summary [PRO]

This SolutionMap analyzes a select group of sourcing providers. It is part of our Spring 2021 SolutionMap report series, also featuring spend analytics, contract management, supplier relationship management and risk (SRM), e-procurement and invoice-to-pay providers. SolutionMap also features procure-to-pay and strategic procurement technology suites.

Release note, SolutionMap Spring 2021: Sourcing, Spend and Procurement Analytics, Supplier Relationship Management & Risk, Contract Lifecycle Management and Strategic Procurement Technology (SPT) Suites

This Spend Matters SolutionMap Insider release note provides insight into the SolutionMap Spring 2021 release for the following five categories: Sourcing, Spend and Procurement Analytics, Supplier Relationship Management, Risk (SRM), Contract Lifecycle Management (CLM), and Strategic Procurement Technologies Suite (SPT). The note reviews the process we follow and highlights what has changed since the last release.

The Spring 2021 SolutionMap resulted from a “condensed” update cycle containing only customer score updates, spurred by new or expiring references. Analyst scores were carried forward from the previous Fall 2020 rankings. This condensed cycle allowed time for our analysts to simplify and streamline a new RFI for the next cycle, Fall 2021 SolutionMap. The addition of new vendors and existing vendors’ expansion into new categories were also pushed to Fall 2021 to coincide with the rollout of the revamped RFI.

Determine (Corcentric) is now displayed as Corcentric Platform.

Some 183 new or refreshed customer references (and 60 individual map references) were added in the Strategic Procurement Technology areas. Customer references from Q1 and Q2 2018 expired after 2 ½ years of use.

Get a first look at the Spring 2021 SolutionMap comparative quadrant graphics here.

SolutionMap Insider members: Learn more about each vendor by accessing the Provider Scoring Summary reports right here.

GEP: What Makes It Great (Sourcing SolutionMap Fall 2020 analysis) [PRO]

GEP is a source-to-pay (S2P) suite provider that also offers managed services, including full BPO and transformation services. The combination of these individual capabilities from a single provider, especially as they become increasingly synergistic, makes GEP a true standout in the procurement technology space.

The SolutionMap Fall 2020 release reinforces this position, putting GEP in top functional and customer scoring positions. The company scored in the top quadrant — as a value leader — of the SolutionMap in nearly every category. But one area in which its unique combination of technology and supporting services stood out in particular our Sourcing SolutionMap.

So where does GEP stand out most and help “set the bar” in sourcing, and why should this matter for procurement organizations? Let’s delve into the SolutionMap benchmark to find out where GEP is great. “What Makes It Great” is a recurring column that shares insights from our SolutionMap updates for subscribers to SolutionMap Insider content and PRO analysis. Based on both our rigorous evaluation process and customer reference reviews, each brief offers quick facts on the provider, describes where it excels, provides hard data on where it beats the SolutionMap benchmark and concludes with a checklist for ideal customer scenarios in which procurement, finance and supply chain organizations should consider it.

Fall 2020 Sourcing: Provider Scoring Summary

Fall 2020 SolutionMap sourcing provider scoring

This SolutionMap analyzes a select group of sourcing providers. It is part of our Fall 2020 SolutionMap report series, also featuring spend analytics, contract management, supplier relationship management and risk (SRM), e-procurement and invoice-to-pay providers. SolutionMap also features procure-to-pay and strategic procurement technology suites.

Release note, SolutionMap Fall 2020: Sourcing, Spend and Procurement Analytics, Supplier Relationship Management & Risk, Contract Lifecycle Management and Strategic Procurement Technology (SPT) Suites

This Spend Matters SolutionMap Insider release note provides insight into the SolutionMap Fall 2020 release for the following five categories: Sourcing, Spend and Procurement Analytics, Supplier Relationship Management & Risk, Contract Lifecycle Management, and Strategic Procurement Technologies Suite. The note reviews the process we follow and highlights what has changed since the last release.

This is the first Fall release since the start of semiannual SolutionMap cycles. Going forward, there will be two releases per year, Spring and Fall.

 What’s new in the Fall 2020 Sourcing, Spend and Procurement Analytics, Supplier Relationship Management & Risk, Contract Lifecycle Management and SPT Suites?

Spend Matters updated the bubble size methodology of the SolutionMap rankings. The bubble size previously represented the number of customers served by a vendor. This method did not adequately convey a vendor's experience and resources to handle complex global deployments. As such, the new bubble size considers:

  • market scale based on the number of customers across the globe
  • number of full-time employees focused on the relevant solution(s)
  • revenue per customer in the relevant solution(s)

These factors were determined by the analyst team, and vendors were given the opportunity to validate the inputs.

For this Fall 2020 release, six vendors are new to a category within the SPT Suites and one existing SolutionMap participant expanded into an additional category.

The following new providers have been added for this release:

  • GraphiteConnect by Graphite Systems is a new participant in the Supplier Relationship Management & Risk SolutionMap category.
  • Ignite Procurement is a new participant in the Spend & Procurement Analytics SolutionMap category.
  • Kodiak Rating is a new participant in the Supplier Relationship Management & Risk SolutionMap category.
  • ProcurePort is a new participant in the Sourcing SolutionMap category.
  • Symfact is a new participant in the Contract Lifecycle Management SolutionMap category.
  • VORTAL is a new participant in the Sourcing, Supplier Relationship Management & Risk, Contract Lifecycle Management SolutionMap categories.

Promena is now participating in the Supplier Relationship Management & Risk SolutionMap category as well as in Sourcing.

Now merged, Wax Digital / Medius is named Medius (Wax Digital) in the Sourcing, Supplier Relationship Management & Risk and Contract Lifecycle Management SolutionMap categories. Rosslyn Analytics is now shown as Rosslyn Data Technologies in the Spend & Procurement Analytics SolutionMap category.

Customer references now have a lifespan of two-and-a-half years. Some 138 new or refreshed customer references (and 60 individual map references) were added in the Strategic Procurement Technology areas.

Get a first look at the Fall 2020 SolutionMap comparative quadrant graphics here.

(SolutionMap Insider members: Access the latest Provider Scoring Summary reports right here.)

SolutionMap: Sourcing – Fall 2020

Spend Matters - Free Research Download

This report contains the Sourcing SolutionMap, a comparative analysis of sourcing technology solution providers for Fall 2020.

Spring 2020 Sourcing: Provider Scoring Summary

This SolutionMap analyzes a select group of sourcing providers. It is part of our Spring 2020 SolutionMap report series, also featuring spend analytics, contract management, supplier relationship management and risk (SRM), e-procurement and invoice-to-pay providers. SolutionMap also features procure-to-pay and strategic procurement technology suites.

Spring/Q1 2020 SolutionMap release note: Sourcing, Spend and Procurement Analytics, Supplier Relationship Management & Risk, Contract Lifecycle Management and Strategic Procurement Technology Suites

This Spend Matters SolutionMap Insider release note provides insight into the Spring/Q1 2020 SolutionMap release for the following five categories: Sourcing, Spend and Procurement Analytics, Supplier Relationship Management & Risk, Contract Lifecycle Management, and Strategic Procurement Technologies Suite. The note reviews the process we follow and highlights what has changed since the last release.

Also, SolutionMap is shifting from quarterly updates to spring and fall updates. This is the last quarterly release and the first spring release, so you’ll see it labeled “Spring/Q1.”

Changes to Spring/Q1 2020 SolutionMap

In the above individual areas, the following providers have been added for this release:
* Conga is a new participant in the Contract Lifecycle Management SolutionMap category.
* Rosslyn Analytics is a new participant in the Spend & Procurement Analytics SolutionMap category.
* Suplari is a new participant in the Spend & Procurement Analytics SolutionMap category.
* Xeeva is a new participant in the Spend & Procurement Analytics SolutionMap category.

Wax Digital, has changed its name to Wax Digital / Medius, and Orpheus was acquired by McKinsey. Their offering is now “Spend Intelligence by McKinsey.

In addition, 72 new or refreshed customer references (and 60 individual map references) were added in the Strategic Procurement Technology areas.

Get a first look at the Spring/Q1 2020 SolutionMap comparative quadrant graphics here.

SolutionMap Insider members: Access the latest Provider Scoring Summary reports right here.

SolutionMap: Sourcing — Q1 2020

Spend Matters - Free Research Download

This report contains the Sourcing SolutionMap, a comparative analysis of sourcing technology solution providers for Q1 2020.

Q4 2019 Sourcing: Provider Scoring Summary

This SolutionMap analyzes a select group of sourcing providers. It is part of our Q4 2019 SolutionMap report series, also featuring spend analytics, contract management, supplier relationship management and risk (SRM), e-procurement and invoice-to-pay providers. SolutionMap also features procure-to-pay and strategic procurement technology suites.