Scanmarket – How it Figures in the eSourcing Provider Q2 SolutionMap Benchmark Rankings

In July this year Spend Matters released its Q2 SolutionMap global procurement solution provider and platform capabilities benchmark rankings. Quite a few of the SolutionMap players are based in Europe, so we aim to highlight their positioning and give you an overview of their ranking, with full insight available through the SolutionMap series of free-to-use and subscription-based deep-dive services within SolutionMap Insider membership, including Provider Scoring Summaries and Customer Insight Reports.

SolutionMap ranks providers so that procurement organisations can quickly and accurately identify a vendor shortlist during their tech selection process. 12 categories of procurement technology are ranked: e-Procurement, Invoice-to-Pay (I2P), Procure-to-Pay (P2P), Source-to-Pay (S2P), Sourcing, Spend and Procurement Analytics, Contract Lifecycle Management (CLM), Supplier Relationship Management (SRM) and Risk, Strategic Procurement Technologies, and Contingent Workforce (covering Contract Services/Statement of Work, Temp Staffing and Independent Contract Workers).

In this quarter’s release, and for the first time, the analysis looks at platform-level capability and allows potential technology users to discern the level of integration between product modules and suites, overall interoperability with ERP and broader technologies, as well as the quality and effectiveness of advanced technologies such as artificial intelligence (AI).

In an easy-to-navigate matrix, vendors are mapped according to their categories and ‘personas’ – nimble, deep, configurator, turn-key, CIO-friendly and optimizer, which match your company’s needs - and placed in one of four market positions, which could be emergent contender, customer leader, solution leader or value leader. As market positions change, so the vendor moves through the matrix. To understand what the different quadrants and personas mean please read How to Interpret SolutionMap Procurement Provider Technology Rankings.

Today we are highlighting Scanmarket, Nordics-based end-to-end Strategic Sourcing specialist (with global presence), which appears within the ‘Sourcing’ category.

In this category Scanmarket shows as a ‘Value Leader’ (upper-right-hand of the quadrant indicating it is a provider with above-average both analyst and customer scores) for the ‘nimble’ persona (described by analyst Nick Heinzmann as ‘that best at understanding the millennial mindset when it comes to technology’ and being ‘all about ease of use, fast time-to-value and transparency … Nimble technology is about systems that just work).

The provider also scores as a ‘Customer Leader’ (lower-right-hand of the quadrant indicating it is a recommended provider with above-average customer scores) for the ‘deep’ (comprehensive, tailorable solution, best-in-class functionality, breadth and depth), ‘configurator’ (flexibility, modularity, configurability and internal/external integration), ‘turn-key’ (pre-loaded capabilities, content, and know-how, capable of supporting services to contractually deliver results and a ROI) and ‘CIO-friendly’ (with IT support and CIO endorsement) personas.

As Scanmarket said in its Spend Matters Almanac listing: “The #1 path to success in eSourcing has always been ‘making it easy.’ To do that end, we have created cloud-based tools, services and intelligence that are easy to learn, easy to use, and easy to share. With a full platform including Spend Analysis, eRFX, eAuctions, Project Management, Contract Management, Supply Base Management, and eLearning, Scanmarket provides everything needed for our 300+ customers across more than 80 countries to get the results they need.”

And as our US editor JP Morris wrote: “best-of-breed solutions with simple integration give businesses more choice,” and that “since network systems are becoming more open and API use makes connecting easier, best-of-breed providers have become better at integration. So when seeking a best-of-breed provider, make sure they have an API function that lets you see how their solution connects with your own system.

Troels Tolstrup, director of technology for Scanmarket commented: "The goal of integration is having all fields in the system be API-connected … We don’t care what system our customer has because we can make our data available to whatever the customer has to collect their data."

Scanmarket is currently busy enhancing its functionality, particularly in contract management and supply base management, and expanding its presence deeper into Europe, especially Benelux and German-speaking countries, and across North America, as we discovered during an interview earlier this year just after its 90% shares sell-out to PE firm Verdane. So it will be interesting to see how the firm figures in the next quarterly release of Spend Matters’ Provider Scoring Summaries and SolutionMap rankings.

In the meantime, if you’d like to understand more about how to become included in the SolutionMap rankings, read this.

Participation is free, and a good start is to register your profile on our free Almanac provider listing.

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