Spend Matters has had a productive spring and that is very good news for buyers of procurement technology solutions.
Spend Matters has announced its updated free SolutionMap rankings for the Spring 2021 release. Started in 2017, the SolutionMap offering was designed specifically to meet the unique needs of procurement technology buyers. Like most technology-related purchases, there are many factors that make this category particularly challenging with the two foremost being complexity and the need to stay on top of the continuously evolving market. To advise and provide analysis in this space requires a deep understanding of the procurement and sourcing/supplier management space. This is where Spend Matters excels. Spend Matters was the first blog and social media site in the procurement and supply chain sector and over the years has greatly expanded its offerings to include research and analysis. Spend Matters, through the years, has published a voluminous amount of research. This deep knowledge, along with the “real life customer inputs” is what makes SolutionMap so valuable.
SolutionMap allows you to over time track provider and market developments and compare 75 procurement technology solutions across these 13 categories:
- Accounts Payable (AP) Automation
- Contract Lifecycle Management (CLM)
- Contract Services/Statement of Work (SOW)
- Direct Sourcing of Workforce/Services (DSW/S)
- Invoice-to-Pay (I2P)
- Procure-to-Pay (P2P)
- Source-to-Pay (S2P)
- Spend and Procurement Analytics
- Strategic Procurement Technologies (Sourcing, Analytics, CLM, SRM)
- Supplier Relationship Management and Risk (SRM)
- Temp Staffing (TS)
The free rankings are accessible by choosing the category of interest and then selecting the appropriate buyer persona. This takes into account the nature of your own organization and ties that into the unique value of the provider offering.
Once the ranking is pulled up you will see the Ranking Chart, which provides a visual that instantly lets you view the providers and how they are positioned against each other in terms of number of submitted customer references, solution scalability, and how they are scored, meaning by analyst or customer.
Spend Matters TechMatch, powered by SolutionMap intelligence, was created to help procurement technology buyers to more efficiently and effectively find a “best fit” shortlist. “TechMatch users gain access to both the TechMatch application and Spend Matters PRO (including 120+ vendor analyses).” A free 14 day trial is available.
In an effort to help buyers progress though the “digital procurement buyer’s cycle” Spend Matters developed the Procurement Technology Buyer’s Guide, which takes a buyer through five steps: Benchmark Procurement Maturity, Assess the Market, Select Vendor, Make the Business Case, and Evaluate Vendors. Templates and resources are linked to free and premium content.