Procurement Software Providers – How To Know Who Suits You?

Spend Matters’ quarterly procurement tech provider ranking and market intelligence tool, SolutionMap, has just announced its Q3 2018 Update. SolutionMap is a one-of-a-kind means of tracking market developments and technology advancements to afford users the ability to assess solution providers and their capabilities. With deep-dive analysis and customer input, compiled by our Analyst team, the intelligence is applied to individual organisations’ needs to help identify best-fit providers and solutions for them.

The latest release ranks 54 procurement software companies across 12 solution categories. To read about the newest movements and developments in our market, see the latest release here. This update also marks the release of a new SolutionMap area: Contingent Workforce & Services, which comprises three categories: Contract Services/Statement of Work (SOW), Independent Contract Workers (ICW) and Temp Staffing.

Our expert analyst in this area, Andrew Karpie, believes the contingent labour and services market is growing, and comparative rankings of software companies in this space is more useful than ever. SolutionMap in this area evaluates vendors in terms of their specifically focused, or more comprehensive, capabilities that address some or all enterprise requirements that arise within a S2P life-cycle (i.e., from supplier sourcing to worker or supplier payment).

As he explains: “Organizations’ use of contingent workforce and services” — as opposed to full-time employees — “is increasing and evolving as new sourcing and engagement models are driven by changing economic conditions and are made possible by new technology. Established technology solution providers, like VMS providers, and new innovative solution providers, like direct sourcing platforms, are responding to new market opportunities, often taking the lead. In such an environment, organizations need to have ongoing visibility into the evolving solution space and, when they are ready to make solution selections, must have access to up-to-date information on vendor solutions and guidance on what solutions may be most aligned to their needs and plans.”

To see the list of companies under the microscope for Q3, see an overview from our Spend Matters US team here. And to understand all categories and the firms within them, see the latest release here. Or to simply take a first step into what SolutionMap can offer, begin here.

There’s a brand new website dedicated to SolutionMap, easy to navigate and with quick access to everything you want to know about the curated and validated material. It explains the methodology used to invite, review and rank participating vendors. It explains the vendor selection criteria, reveals what data sources are used and who the analysts are. It also gives details of what add-on services are available and what you can access for free as a signed-up member. Definitely worth a visit.

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