Negotiatus – ‘Future 5’ makes the 50 Providers To Watch list 2020

We explained recently that a handful of procurement start-up firms had made it onto our ‘50 Providers to Watch’ lists. These lists identify 50 firms in the procurement solutions area that our analysts think all CPOs and practitioners should keep an eye on. The full lists can be found in the Spend Matters Almanac, our free vendor directory (where you can register if you’d like to make a start on getting your solution in front of the technology analysts). The ‘50 to Watch’ list includes those organisations that are doing something interesting or innovative in the marketplace, including newcomers that are pushing procurement forward.

This year, our list contains some of the firms from the ‘Future 5’ list of start-ups, which we identified last year at the launch of our Future 5 initiative at Digital Procurement World. These five start-up providers were recognised by our analysts as rapidly rising stars in the procurement technology market. They were the new innovators that were either too new, or too small, to make it onto the ‘To Watch’ list at the time, but had a growing presence and a new solution. They fitted the following criteria:

  • They were less than five years old and had been in the market for less than two years since their official product launch
  • They had five or more customers
  • They were involved in exciting, interesting or innovative use of technology
  • They showed promising signs of staying power

One of the firms that migrated from the Future 5 list to the Providers To Watch list for 2020 is New York City based Negotiatus.

Negotiatus is a purchasing platform that allows the buyer to order automatically from one catalogue and shopping cart at an ‘average of 95% faster and at an 8% better price,’ to analyse spend in real time and to submit payment across every vendor in one place via one consolidated invoice. Or as our analysts put it “Negotiatus is a procure-to-pay solution that defies the conventional expectations of what P2P should be … the solution supports end-to-end purchasing by attacking the root problems themselves. Rather than construct catalogs via vendor portals or uploaded CSV, Negotiatus helps clients build one dynamic “super” catalog off of which all users can compliantly order. And rather than pay vendors directly, clients consolidate their purchases into a single weekly or monthly invoice to Negotiatus, which provides a uniformly coded account of all spending … Overall, it’s definitely a fresh take on what a P2P solution could be.”

To understand more fully why Negotiatus made it as a Future 5, read our analyst commentary here.

And for a detailed analysis of the product’s strengths and weaknesses, the firm’s background and an overview of the solution read our Pro insight here and here. (Pro is subscription-based but a useful amount of insight can be obtained from the generous introductory paragraphs alone.)

We asked the team at Negotiatus what they believe contributed to their leap onto the 2020 providers to watch lists this year, Chris Kuehn, Senior Director of Growth told us:

“In the past year, our investment in product and engineering development has allowed us to take enormous strides towards achieving our mission: to help companies control and manage 100% of their spend on one centralized, easy-to-use platform. Whereas we had been focused primarily on physical goods before, we have greatly expanded both the types of products that companies are purchasing through Negotiatus and the means by which they are able to pay for them. In particular, one area of development that has already born fruit is our enhanced supplier network functionality which has allowed essential businesses to source the products they need to operate in a time when supply chains are greatly disrupted.”

Negotiatus P2P is well worth checking out if you are looking for simplicity, a reduction in transaction activity, and the ability to pay a consolidated invoice on various self-determined schedules. It has some unique strengths and as our analysts commented: “… a new class of purchasing solutions is entering the market, each looking to disrupt the standard approaches to corporate procurement in their own way.” Negotiatus is one of them.

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