SolutionMap What Makes It Great Content

VectorVMS: What Makes It Great (Temp Staffing/VMS SolutionMap Analysis)

workers

VectorVMS, previously known as PeopleFluent, delivers software and services that support businesses in the management of their contingent workforce programs.

Acquired by publicly traded Learning Technologies Group (LTG) in 2018, VectorVMS now operates as a separate business unit focused on providing contingent workforce and services (CW/S) technology solutions. VectorVMS' clients today are using its technology solution that enables organizations’ sourcing and management staffing suppliers and temp workers.

VectorVMS offers businesses what may be a unique blend of (i) solid Temp Staffing sourcing /management functionality, (ii) established domain expertise and experience and, last but not least, (iii) a set of a la carte services that (for internally managed programs, for example), can even substitute for some processes that MSPs traditionally offer. It therefore holds a unique place in Spend Matter’s SolutionMap lineup.

Spend Matters segments the evolving CW/S enterprise technology solution market into Temp Staffing and two other main categories:
* Temp Staffing (Temp), the historical focus and largest category of spend under management for established VMS providers (e.g. Beeline, Coupa-DCR Contingent Workforce, SAP Fieldglass, etc.)
* Contracted Services/SOW (SOW), the spend on services provided by organized suppliers (e.g., professional services, etc.), the sprawling category of spend now contributing the highest growth to some VMS providers’ spend under management.
* Direct Sourcing of Workforce/Services (DSW/S), the spend on directly-sourced individual external workers and very-small-scale services providers, a category of spend that is becoming more relevant to many businesses.

At the time of the Q3 2019 Solution Map RFI submission, VectorVMS reported providing temporary staffing solution capabilities to nearly 200 clients in various private sector verticals (such as healthcare) as well as government. While VectorVMS did demo an appreciable set of capabilities addressing Complex Services/SOW, it is not represented in that SolutionMap this quarter (but may be in a subsequent quarters).

The Spend Matters SolutionMap contains functional and customer satisfaction benchmarks on more than 50 technology providers within the broad procurement solution landscape, including 14 providers within the CW/S segment. But where does VectorVMS stand out most and help “set the bar” for the Temp Staffing solution segment? And why should this matter for procurement and HR organizations? Let’s delve into the SolutionMap benchmark to find out where VectorVMS is great.

“What Makes It Great” is a recurring column that shares insights from each quarterly SolutionMap report for SolutionMap Insider subscribers. 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.

APEX Analytix: What Makes It Great (Supplier Relationship Management and Risk SolutionMap Analysis)

In a market facing increasing consolidation each year, APEX Analytix stands out as a best-of-breed provider that excels in areas where suite providers merely meet the benchmark (or fall below it).

Results from Spend Matters’ SolutionMap vividly illustrate the gaps in the category of Supplier Relationship Management and Risk. While some larger providers post strong scores in general supplier information management, on-boarding or platform-related SXM capabilities (e.g., workflow management), few deliver the same consistently benchmark-topping scores that APEX Analytix does in its specialty areas.

The Greensboro, North Carolina-based provider has long been known for its broader portfolio of recovery audit, overpayment and self-audit software. But where APEX Analytix leads with its specialized supplier management solution — especially with granular supplier information and risk management capabilities — makes clear that specialization can yield considerable functional depth where end-to-end solutions sacrifice in pursuit of breadth.

Where does the provider stand out most, and why should this matter for procurement and finance organizations? Let’s delve into the SolutionMap benchmark to find out where APEX Analytix is great.

“What Makes It Great” is a recurring column that shares insights from each quarterly SolutionMap report for SolutionMap Insider subscribers. 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.

Ivalua: What Makes It Great (Supplier Relationship Management and Risk SolutionMap Analysis)

Having reached “unicorn” status as of May 2019, Ivalua is no longer a vendor that needs thorough introduction. In fact, the solution provider with European roots now has almost 50% of its the customers and employees based in North America and is likely one of the fastest growing privately held source-to-pay procurement suites in the market.

This is thanks in large part to its engineering approach: Its entire suite was built in-house on a single platform over the last 19 years, placing it in a small group of providers that offer an end-to-end solution on a single technology stack. And the benefits of this philosophy are perhaps nowhere better illustrated than in Ivalua’s supplier management capabilities, which because of the platform’s common data model can capture, manage and integrate not only core supplier information but also the entire lifecycle of supplier activity from a truly 360-degree perspective.

As of Q2 2019, the Spend Matters SolutionMap contains functional and customer satisfaction benchmarks on more than 50 providers within the procurement technology landscape. But where does Ivalua stand out most and help “set the bar” in supplier management, and why should this matter for procurement and finance organizations?

Let’s delve into the SolutionMap benchmark to find out where Ivalua is great.

“What Makes It Great” is a recurring column that shares insights from each quarterly SolutionMap report for SolutionMap Insider subscribers. 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.

BirchStreet: What Makes It Great (Invoice-to-Pay SolutionMap Analysis)

BlueCart

Invoice-to-pay requirements in the hospitality industry are unique. Not only do organizations require full visibility at the invoice line level and the ability to manage traditional matching and approval flows, solutions also must support decentralized environments (e.g., franchise models) while still enabling control and visibility — including support for category-specific (e.g., ingredient/food) requirements.

Moreover, global hospitality organizations need solutions that can meet global invoicing requirements, especially country-specific compliance.

BirchStreet, a procure-to-pay solution provider specializing in the hospitality industry and adjacent sectors, stands out in its ability to meet a range of invoice-to-pay capability requirements, both purpose-built for the markets it targets and standardized capabilities. This shows in Spend Matters’ Q1 2019 SolutionMap Invoice-to-Pay benchmark, where BirchStreet is an e-invoicing and payment leader based on demonstrated capabilities and real-world customer experiences.

SolutionMap contains functional and customer satisfaction benchmarks on more than 50 providers within the procurement technology landscape. But where does BirchStreet deliver best-in-class capabilities and top customer reference scores that help “set the bar” in invoice-to-pay, and why should this matter for procurement and finance organizations? Let’s delve into the SolutionMap benchmark to find out where BirchStreet is great.

“What Makes It Great” is a recurring column that shares insights from each quarterly SolutionMap report for SolutionMap Insider subscribers. Based on 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.

Shortlist: What Makes It Great (Independent Contract Workers Analysis)

Shortlist is a provider of an enterprise technology solution that enables organizations to source, on-board, manage, directly engage and pay their independent contract workers (ICWs).

Its offering was recently evaluated in Spend Matters’ SolutionMap framework with the Independent Contract Workers (ICW) enterprise solution category. That segment is the most dynamic part of the contingent and workforce and services (CW/S) procurement technology market, which also includes SolutionMap’s Temp Staffing (Vendor Management Systems/VMS) and Contract Services/Statement of Work solution segments.

Most ICW enterprise solutions have emerged over the past five years within the context of the so-called gig, freelance and peer-to-peer “economies” — a world of innovative platforms like Uber and Airbnb versus the establishment world of enterprise software applications inhabited for decades by providers like SAP and Oracle.

While some new providers have stood up external platforms like online marketplaces that function effectively as third-party suppliers of talent, others have stood up enterprise software solutions that organizations can use to source and manage talent in ways that VMS, ATS and HRIS systems cannot. Shortlist falls within this latter category.

Shortlist provides a comprehensive, fit-for-purpose software solution that can be used by organizations to manage their independent contract workers (ICWs) and small-scale service providers (SSPs). The solution provides support in almost every aspect of the ICW/SSP source-to-pay lifecycle.

BirchStreet: What Makes It Great (E-Procurement SolutionMap Analysis)

BlueCart

If you’re outside of the hospitality, restaurant, food service, casino and food manufacturing industries, you’ve probably never heard of BirchStreet. But if you’re involved in purchasing goods and services in any of these markets — from CAPEX spending to bananas to booze — then chances are you’ve encountered this top-performing Spend Matters SolutionMap provider — or you’re already using it on a daily basis. And based on SolutionMap customer reference reviews and data, you’re quite happy indeed.

But how does BirchStreet stack up to other e-procurement vendors, especially those less-specialized providers trying to break into these markets? Join us as we explore what makes BirchStreet great based on SolutionMap’s analyst and customer benchmark data.

As of December 2018, SolutionMap contains functional and customer satisfaction benchmarks on more than 50 providers within the procurement technology landscape. Within SolutionMap, where does BirchStreet stand out most and help “set the bar” in e-procurement, and why should this matter for procurement and finance organizations?

Let’s delve into the SolutionMap benchmark to find out where BirchStreet is great.

“What Makes It Great” is a recurring column that shares insights from each quarterly SolutionMap report for SolutionMap Insider subscribers. Based on 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.

The Bonfire Customer Experience: What Makes It Great (Sourcing SolutionMap Analysis)

complex sourcing

Usability is proving the single most important killer app for the next wave of sourcing technology adoption. And providers such as Bonfire are proving that absolute feature/function capability alone is less important than providing an optimally rich user and customer experience that will maximize adoption and customer satisfaction.

This is not a new strategy. Bonfire is in fact following Coupa’s playbook. As we have noted before, “such was Coupa’s first act, before it focused on investing in functional leadership to complement best-in-class usability.”

Today, Bonfire is headed down a similar path in the sourcing market. Its customer references and candid feedback from Spend Matters’ Q4 2018 Sourcing SolutionMap suggest it is not a typical provider but rather one that is redefining an entire market by focusing on customer adoption and the user experience. Like Coupa, it is creating a movement among procurement organizations.

But where and how does Bonfire stand out in this competitive technology market with customers?

As of December 2018, the Spend Matters SolutionMap contains functional and customer satisfaction benchmarks on more than 50 providers within the procurement technology landscape. But where does Bonfire 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 Bonfire is great.

“What Makes It Great” is a recurring column that shares insights from each quarterly SolutionMap report for SolutionMap Insider subscribers. 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.

The SpendHQ Customer Experience: What Makes It Great (Spend and Procurement Analytics SolutionMap Analysis)

data analytics

Editor’s note: This “What Makes It Great” column is normally reserved for SolutionMap Insider Subscribersbut SpendHQ has generously agreed to support access for readers who are not yet members.

Spend and procurement analytics solutions are fundamentally  designed for business users rather than IT organizations — or should be. Why? Because procurement is their master.

But all too often, IT-led business intelligence initiatives — or spend analytics solutions built on the premise of BI-centric reports rather than a design-centric philosophy around procurement and category management needs — end up becoming the vehicle by which an organization looks at its spend and supplier data. The result? Some of the most salient potential insights go unfound.

SpendHQ, a solution built “by procurement and for procurement users,” takes a different approach entirely to the spend analytics process and the presentation of spend and category intelligence. This is reflected in what its customers have to say about its solution and how their experience compares to users of more traditional, BI-centric spend analytics.

As of December 2018, the Spend Matters SolutionMap contains functional and customer satisfaction benchmarks on more than 50 providers within the procurement technology landscape. But where does SpendHQ stand out most and help “set the bar” in spend analytics from a customer-ratings perspective, and why should this matter for procurement and finance organizations?

Let’s delve into the SolutionMap benchmark to find out where SpendHQ is great, sharing both customer anecdotes and ratings.

“What Makes It Great” is a recurring column that shares insights from each quarterly SolutionMap report for SolutionMap Insider subscribers. 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.

HICX: What Makes It Great (Supplier Relationship Management and Risk SolutionMap Analysis)

The market for supplier relationship management (SRM) and risk solutions comprises many segments. HICX, a specialist provider in this sector, stands out as a commendable generalist for supplier management that delivers best-in-class capability in targeted areas, especially the subcomponents of master data management (MDM). In practice, few companies ever decide to purchase a single solution to address their broad-based needs for supplier management, highlighting the individual importance of solutions that target MDM and adjacent supplier management areas.

Spend Matters SolutionMap has hundreds of functional requirements for supplier management, of which only a subset will be critical for specific organizational needs (e.g., MDM, supplier diversity, supplier risk management, supplier performance management, supplier compliance management, supplier development). As of December 2018, SolutionMap contains functional and customer satisfaction benchmarks on more than 50 providers across the procurement technology landscape.

But where does HICX stand out most in the supplier management market from a functional perspective, and why should this matter for procurement organizations?

Let’s delve into the SolutionMap benchmark to find out where HICX is great.

“What Makes It Great” is a recurring column that shares insights from each quarterly SolutionMap report for SolutionMap Insider subscribers. Based on 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.

TalonFMS: What Makes It Great (Independent Contract Workers SolutionMap Analysis)

Lystable

TalonFMS is a provider of talent management and direct sourcing technology that enables organizations that are looking to source, manage and leverage independent contract workers (ICWs). TalonFMS’s technology solution was recently evaluated in Spend Matters’ SolutionMap framework with the Independent Contract Workers enterprise solution category. The ICW solution segment is the most dynamic part of the contingent workforce and services (CW/S) procurement technology market, which also includes SolutionMap’s Temp Staffing (Vendor Management Systems/VMS) and Contract Services/Statement of Work solution segments.

Unlike solutions for Temp Staffing or Contract Services/SOW, most ICW enterprise solutions have emerged over the past five years within the context of the so-called gig, freelance and peer-to-peer “economies.” While some new providers have developed external platforms like online marketplaces that function effectively as third-party suppliers of talent, others have developed enterprise software solutions that organizations can use to source and manage independent contract talent in ways that VMS, ATS and HRIS systems cannot. TalonFMS falls within this latter category.

TalonFMS provides a fit-for-purpose enterprise software solution that organizations can use to source and organize, gain visibility into and establish control over their external workers they engage as contract independents and not as employees of staffing suppliers. A young company launched in 2015, TalonFMS already covers most of the important ICW management requirements cost-effectively for any size and type of organization, and it boasts the highest client survey score among its peers in the ICW solution category.

Vndly: What Makes It Great (Temp Staffing/VMS SolutionMap Analysis)

Founded in 2017, Vndly is a new entrant in the evolving contingent workforce and services (CW/S) enterprise technology solution market. While new entrants have appeared with solutions to address the emergence of the freelancer or gig economy, not one has gone after the temporary staffing and SOW solution segments, which have been the exclusive domain of what were long referred to as vendor management system (VMS) providers. Vndly intends to challenge top VMS solutions in all three of these spend categories on the basis of its new technology, its reassessment of organizations’ core needs, and its innovative approaches to old and new requirements. Let’s delve into the SolutionMap benchmark to find out where Vndly is great.

“What Makes It Great” is a recurring column that shares insights from each quarterly SolutionMap report for SolutionMap Insider subscribers. 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.

BuyerQuest: What Makes It Great (Analysis)

BuyerQuest was one of the first e-procurement providers to focus significant efforts on improving the user experience beyond just a “walk-up” shopping UI. Examples of these efforts include leveraging behavioral analysis to support guidance during the procurement process and innovation in support of purchase order management and receiving capabilities.

But how does BuyerQuest stack up among the 22 providers ranked in the latest e-procurement release? As of September 2018, the Spend Matters SolutionMap contains functional and customer satisfaction benchmarks on over 50 providers within the procurement technology landscape. Where does BuyerQuest stand out most and help “set the bar” in e-procurement? And why should this matter for procurement and finance organizations? Let’s delve into the SolutionMap benchmark to find out where BuyerQuest is great.

“What Makes It Great” is a recurring column that shares insights from each quarterly SolutionMap report for SolutionMap Insider subscribers. 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.