Who made the 50 Providers to Know and 50 Providers to Watch lists 2020?

Our global team of analysts at Spend Matters announced yesterday the seventh annual Spend Matters “50 Providers to Know” and “50 Providers to Watch” lists for 2020.

These lists are made up of the 100 best-in-class vendors in the industry which we believe you need to either, know about, or, keep an eye on. Each member on the list is independently selected by the Spend Matters analyst team, who spend a major part of their time analysing solution providers and their products or services. The assessments also rely on Spend Matters’ SolutionMap, our benchmarking tool that uses 1,000+ RFI questions to rank solution providers for each of 13 market sectors based on their functionality and capabilities. So following many months of intensive research, analysis and debate, our analysts arrive at the two sets of lists: 50 Providers to Know and 50 Providers to Watch.

The ‘50 Providers to Know’ list highlights leading technology and services providers that continue to "raise the bar for procurement technologies and services." These are the firms that set the industry standard – firms that every CPO should know about and understand at least to some extent.

The ‘50 Providers to Watch’ are the relative newcomers that are pushing procurement forward – those offering the latest and most innovative solutions in the industry.

Sometimes solution providers jump from the To Watch list to the To Know list – by their own merits - and this year eight providers made that leap: Agiloft, Celonis, ConnXus, Lease Accelerator, MBO Partners, NPI, Per Angusta, and Tipalti. We’ll be talking to the Europe-based providers about what they believe helped them to make that change – look out for that coming up shortly.

Two providers this year are brand new to the 50 to Know list, they are AppZen and Rosslyn Analytics. Some firms sit in the To Know category for several years before reaching the To Know list, but these two firms entered straight in having not previously been listed. Look out for our analyst comments to come on what made that possible.

The To Watch list typically sees a higher turnover of solution providers than the To Know list, but this year it raised the bar as more than half of the Providers To Watch are new. Four of those, BidOps, FairMarkit, Negotiatus and SupplyHive, are promoted from our 2019 Future 5 list – this is a list of innovative vendors that were too new to have made it onto the Providers To Watch lists last year but which, after meeting certain criteria, were recognised by our analysts as start-ups that customers should have on their radar. We’ll be collecting their thoughts too on the reasons for this progress.

So, we congratulate all those on the lists but as our analyst Magnus Bergfors said: “… at the end of the day, the 50/50 is just a ‘list.’ This makes it incumbent on everyone, including us, to not follow the "80/20" rule (or just shortlist the top right quadrant) when it comes to picking the best technology for a given need.”

Also worth noting this year:

Webinar

For a deeper understanding of the selection process, join Spend Matters research chief Pierre Mitchell and lead analyst Magnus Bergfors in a webinar Q&A webinar on Thursday, April 30th at 10am BST +1 for European viewers. Register here.

Almanac

To view the full list of 500+ companies registered in Spend Matters free vendor directory, or to register your own company, see our Almanac here.  Where you will also find the full lists of Providers To Know and Watch.

Videos

This year we are accompanying our lists with short videos from our analysts on the 20 vendors that are participating in the digital SIG Procurement Technology Summit, beginning May 11th

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