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SolutionMap: 59 procurement software companies ranked (Q4 2019 Update)

Spend Matters today released its Q4 2019 SolutionMap, ranking 59 procurement software companies across 12 solution categories, including E-Procurement, Sourcing, Spend Analytics, Supplier Relationship Management, Contract Lifecycle Management and Contingent Workforce & Services. Click on this article to see which new providers joined the rankings this quarter — and to see how to access the rankings for free!

Customer reviews for Bonfire are in the new SolutionMap Customer Insights report

This week’s SolutionMap Customer Insights report focuses on customer reviews for Bonfire, a cloud-based provider of sourcing whose offering is known for its ease of use.

The applicable SolutionMap category for this report is in Sourcing. SolutionMap Insider members can read about Bonfire in our latest report.

In each Customer Insights report, we provide a one-page summary of details from the SolutionMap peer review process. It includes ratings on how well the vendor meets its customers' expectations, three key differentiators for the vendor and a list of quotes from customers about the vendor’s greatest strengths.

Rob Handfield interviews Pierre Mitchell: What’s on the mind of CPOs in 2019?

For the equivalent of a fireside chat between two of the procurement and supply chain industry's most respected figures, you've come to the right place — look no further than this video discussion between Dr. Rob Handfield and Pierre Mitchell, tackling the question: What's on the mind of chief procurement officers in 2019?

Q&A with new Jaggaer CEO (Part 2): Merging its history and making a mark on the future

“Jaggaer has a wealth of information,” said new Jaggaer CEO Jim Bureau. “Over the past 25 years, we’ve gathered more and more data to build intelligence upon, and it’s incumbent upon us to be able to tap into that information in a meaningful way so that we securely provide appropriate instructions to our customers to enable them to be proactive with it.”

In a two-part Q&A with Spend Matters Founder Jason Busch, Bureau outlined the suite provider’s plans after three big changes this year: all of its solutions are now on a single platform called Jaggaer One, it got a new owner over the summer and the change in leadership a few weeks ago that elevated Bureau.

Today, Bureau discusses Jaggaer’s partner network and looks further into the company’s future to discuss what its products will look like and what the company hopes to accomplish.

Q&A with new Jaggaer CEO: ‘Our vision and passion … it’s around the customer experience’

The global suite provider Jaggaer has been undergoing a lot of changes this year — converging its solutions on a single platform called Jaggaer One, getting a new owner this summer and seeing a change in leadership a few weeks ago.

To learn more about these changes, Spend Matters Founder Jason Busch talked with Jaggaer’s new CEO, Jim Bureau, who has been with the company a little over two years and most recently was executive vice president.

Tech selection Q&A: ‘I was like the most hated guy in the office for a while’

Tech selection requires evaluating a lot of procurement software vendors before making a choice, and our coverage typically focuses on the early part of the process to help companies buy a solution that’s the right fit for their needs. But we wanted to talk with a company well after its tech selection to gain insights on the process.

The strategic business enabler Tecom Group and its parent company, Dubai Holding, have gone through two rounds of tech selection to find a spend analytics firm to help them analyze high value transactions, find common spend areas, save money and add visibility for new business strategies.

To find out more about the tech selection process and its results, we did a Q&A with Cory Thwaites, Tecom’s executive director of procurement, about his efforts to bring in a spend analytics firm.

“I was like the most hated guy in the office for a while,” Thwaites said about trying to convince the staff that Tecom needed to know more about its spend.

He said that all changed once his team started seeing the dashboards that showed the actual state of Tecom’s spend.

At Coupa Inspire in London, 2 game-changing innovations barely got a mention 

Last week, Spend Matters Europe did a great job of summarizing the Coupa Inspire event in London, including a look at the biggest items that Coupa was pushing on its product agenda.

This was great, but the best product-related announcements weren't in the keynotes, and they barely even got more than a mention in the breakout sessions.

So today, we're going to focus on two developments — connectivity and analytics encapsulation — because these innovations can totally change the game in business spend management and should not be overlooked!

The Procurement Analysts’ Reel Bonus Episode – An Interview with Magnus Bergfors

By now, unless you've been under a rock or glued to the coverage of public impeachment hearings kicking off in the U.S., you've hopefully seen that Magnus Bergfors has joined the august Spend Matters analyst team this week. To learn even more about what makes Magnus tick — in his own words — Jenny Draper, GM of Spend Matters Europe, recently had a chance to coax those words out of him firsthand, in a podcast interview about his specific expertise and how he views current procurement technology trends. Click through to listen to the episode!

Technology analyst Magnus Bergfors joins Spend Matters’ team from Gartner

Noted technology analyst Magnus Bergfors joins Spend Matters today after several years at Gartner, bringing a deep background in strategic sourcing, procure-to-pay and other procurement software categories.

"I'm thrilled that Magnus will be joining us,” said Jason Busch, the founder of Spend Matters, whose analysts provide solution intelligence on procurement technology. “Not only is he deeply in touch with the needs of procurement organizations, Magnus will bring a global perspective on technology analysis, selection and best-practices to our audience in North America, Europe and around the world."

Magnus lives in Sweden and will increase Spend Matters’ coverage of the industry in Europe.

“I’m incredibly excited to join the Spend Matters team,” he said. “The balance of Spend Matters being large enough to have a critical mass of resources and world-leading expertise combined with the agility of a smaller organization allows for some really exciting opportunities for innovative research and to help our clients make the right choices.”

Workday scouts its 14th acquisition: Scout RFP (Deal Summary, Company Background and Coverage Highlights)

Workday’s plan to buy Scout RFP makes this its 14th acquisition, according to crunchbase. Spend Matters has been covering Scout RFP and has some quick takes on this deal.  Material sourced from: First Take Analysis: Workday’s Acquisition of Scout RFP (Part 1: Scout Background, Strengths/Weaknesses, Deal Rationale) and Workday to acquire Scout RFP for $540 million in cash

Workday to acquire Scout RFP for $540 million in cash

Earlier this afternoon, Workday announced its intent to acquire Scout RFP, a sourcing technology provider, for $540 million in cash. Scout RFP was a Workday Ventures portfolio company and Workday partner previously. In a Workday blog, the HR and ERP provider notes that Scout RFP’s “more than 160 employees across North America and Europe will be joining Workday.”

In the press release announcing the transaction, Workday suggests that “with Scout RFP, Workday will provide organizations a comprehensive source-to-pay solution with a best-in-class strategic sourcing offering to transform the procurement organization and deliver better business outcomes, including reduction in spend, greater policy compliance, and maximized engagement across key stakeholders.”

Spend Matters Nexus: Subscription stream now live!

Earlier this summer, I created a new role for myself at Spend Matters, going back to my roots as an adviser to investors, boards and management teams focused on strategy and corporate development topics.

As part of this transition, we’re excited to officially launch a new subscription service, Spend Matters Nexus, with content specifically written for founders, CEOs, corporate development leaders, and the private equity and investment community interested in the procurement landscape. We initially made this content stream available to all PRO subscribers as part of a transition period, but as of this month, Nexus will officially become an independent subscription.

Look for the first official Nexus column to post later today. Read on to see why now is the time for Nexus.