Observations on this year’s 50 To Know, 50 To Watch procurement vendor lists – Rosslyn Data Technologies

As you may be aware, last week we announced the Spend Matters ‘50 to Know’ and ‘50 to Watch’ lists, identifying 100 firms in the procurement and supply chain solutions area that we think all procurement practitioners should have on their radar. (Learn more about the selection methodology here.) These are global lists and we’re delighted that Europe-based representation is quite strong, especially in the To Know category.

The 50 to Watch are the organisations (some more established than others) that are doing something interesting or innovative in the market. It can include newcomers that are pushing procurement forward.

The 50 to Know are those firms you really should be aware of as a senior procurement professional. Put it this way: if you were a new CPO in any industry, or maybe you have come into procurement from another function, and you wanted to know which organisations you should take a look at or meet in your first few months, these would be our answer.

To that, we were delighted to announce that Rosslyn Data Technologies came straight into the To Know list this year, having bypassed the To Watch list completely. A London-based provider of complete end-to-end supply chain analytics, Rosslyn is one of the few remaining standalone procurement solution firms on the market. Its Supplier Master Data Management solution supports procurement with risk and compliance initiatives, and can integrate not only with the middleware but also with the main P2P and S2P platforms. Rosslyn’s document management capabilities combine both structured (transactional data) and unstructured (documents, voice, images) data into a single environment and gives a fully integrated view of all invoices and purchase orders. But to better explain their offering and to understand what the firm has been up to in the past 12 months to pique the analysts’ interests, we spoke with co-founder Hugh Cox.

“In 2017 we made an acquisition that helped us open up a new market in the integration of unstructured data in supply chain analytics. For example, a company with Non-EDI invoices presents a challenge for most data analytics firms, dealing with PDFs, JPEGs etc., but our integrated technology allows us to take that data and assimilate it easily into one data schema. The kind of infrastructure needed for this is not insignificant. Alongside this we acquired sentiment and social media analysis, so we can now process all unstructured qualitative information automatically.

We also acquired a slightly unrelated but very useful solution to add to our supply chain capabilities in the Duty Management space. This presented us with an interesting opportunity to diversify our platform, bringing in the ability for large retailers and logistics companies, for example, to manage their declarations on imports, exports and warehousing as well as excise and to bring all relevant tax declarations into alignment.

So the past 12 months have seen us further hone and develop those capabilities. We have evolved our Supplier Master Data Management (SMDM) platform, allowing customers with business spend information in many disparate ERPs globally to aggregate all vendor, spend and risk information into one location to map, manage and update their global vendor master file. But our ability to rationalise and connect it all without the need for a major IT project, or a physical connector to the ERP system, is a major strength. We can extract data seamlessly using certified connectors from all major ERP systems and aggregate it into our cloud solution, thus creating a virtual data warehouse of our client’s information. This non-touch experience means we can condense what would be 3 to 5 days’ worth of hard work, for the QA, Data, Development and Project Management teams, into just a few hours.

Our time and resource investment over the past 12 months have meant we are able to do more complex and sophisticated projects that take us from the spend domain to the wider supply chain management domain, and we are always looking at new angles of supply chain analytics we never before thought possible. This is a highly interesting market for us and one in which we are able to grow on an industrial scale.”

Our lead technology analyst and futurist, Michael Lamoureux, said of Rosslyn’s inclusion in the ‘Provider To Know’ list:

"Rosslyn Analytics is one of the original pure-play Spend Analytics vendors, and has built one of the most solid tried-and-true platforms for global enterprise spend data ingestion, classification, cleansing and enrichment on the market. It's out-of-the-box connectivity, ability to allow organizations to choose what data to integrate from internal and external data sources in real time, create custom (drilldown) visualizations appropriate for Finance and Procurement, and, most importantly, generate real-time what-if insights on the fly for Finance and Procurement is rivalled by few. This last point bears repeating -- while we have seen a number of spend analytics platforms embed Procurement insights, few have embedded Finance insights around working capital, payment terms, currency conversions, etc. that are normally the domain of treasury. Plus, their ability to support truly global enterprises with multiple subsidiaries, ERP & AP systems, and Procurement systems and integrate all of the data in appropriate roll-up / roll-down hierarchies with appropriate access rights is almost unrivalled in the Procurement space. If you need a truly best-of-breed spend analytics solution to support your (budding) global organization, Rosslyn Analytics should definitely be on your shortlist."

You can read more about Rosslyn here, and the full 50 To Know/50 To Watch lists can be found in the Spend Matters Almanac, our free vendor directory.

 

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