More on “50 To Know” and “50 To Watch” – and OpusCapita Interview

We announced here the launch of the Spend Matters 50 to Know and 50 to Watch awards, identifying firms in the procurement solutions area that we think procurement practitioners should have on their radar.

The 50 to Know are the leaders in the industry, not necessarily the “best” but those firms you really should at least be aware of as a senior procurement professional. The 50 to watch are the interesting, innovative, up-and-coming firms offering something a little different.

Our colleagues at Spend Matters US are now publishing a handful of articles looking at some of the firms who made the leap this year from the “to watch” list to the “to know”.  As they put it:

“Each year, some companies on the Spend Matters 50 Providers to Know and 50 Providers to Watch lists push themselves beyond simply a standout performance. They earn the recognition that they are not only bringing innovation into procurement organizations but also leading the charge to change the way we do business for the better. These are the providers who shifted from Watch to Know in 2018”.

The first of these articles is here and covers OpusCapita, a provider of source-to-pay (S2P) solutions (and nothing to do with the UK-based giant outsourcing services firm Capita, we should add).  It is a Q&A and features Adam Tamburello, product marketing manager at OpusCapita. Here is a quick extract.

“ …  OpusCapita is one of the only providers to support not only procurement and accounts payable but also treasury within its standard product set. That second “P” in P2P, payments, is only a part of a larger cash management offering, which also includes in-house banking, liquidity management and global bank connectivity.

Second, similarly to the source-to-pay portfolio supporting buy side customers, OpusCapita has a focus on the sell side of B2B commerce. OpusCapita helps organizations sell more with master data management for products — tools supporting e-commerce with product information management, digital asset management and catalog syndication. Within the sell side, there is also accounts receivable automation, which really brings the whole portfolio full circle with order receiving, invoice sending and payment reconciliation capabilities ...”

Do read the whole article here. I certainly learnt a lot about a firm that isn’t big in Europe – yet.

Finally, some firms have asked me how to get onto the list or expressed disappointment at not being listed. Well yes, it is quite US-centric in that most of the votes come from the Spend Matters team in that country – although I have some input. So if you don’t have a US presence, you need to have a strong product and show significant success elsewhere (probably Europe to be honest rather than Asia, Africa etc).

You also need to show the Spend Matters analyst team the product – at a reasonable level of detail. I’m afraid a quick session with me isn’t enough, as I just don’t have the level of tech insight that our US team certainly does.

So you need to get onto their agenda. And unless you are a huge growth story, you will probably be on the “to watch” list initially, so that aspect of innovation, having something a bit new and different, comes into play too. What we are looking for is ideas and technology that will get people like Jason Busch who has seen hundreds, maybe thousands, of procurement tech products interested, maybe even a little excited!  Drop us a note if you fit the bill.

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