CHICAGO, IL--(Marketwired - April 10, 2017) - Spend Matters released its first SolutionMap, an essential tool for procurement executives and their teams to assess and understand vendor capability on an ongoing basis.
Today's SolutionMap release analyzes a select group of eProcurement solution providers. It is part of Spend Matters' Q2 2017 SolutionMap series, also to feature Invoice-to-Pay solution providers and Procure-to-Pay suites.
"We think SolutionMap is transformative given the pace of technology providers' innovation," said Jason Busch, Founder and CEO of Spend Matters.
SolutionMap has two essential ranking components: solution value and customer value. It provides a breakdown of solution scoring for each vendor on the category level (e.g. catalog management, shopping/requisitioning, ordering/order management, receiving, supplier network, configurability, technology/architecture and services). It also provides insight into how customers scored each eProcurement vendor.
"No two procurement organizations are the same, and often selecting the right vendor doesn't come down to technological capability alone," said Busch. For SolutionMap, rankings are based equally on demonstrated technology/solution capability as well as on customer input.
"Customers responded to questions such as actual performance versus expectations set in the sales process, responsiveness to issues, level of partnering," he continued. "Then we interpret the rankings into a collection of common personas that reflect the value proposition, solution strategy and customer segment of different procurement organizations to help procurement executives seek providers whose personas best align to theirs. That's what makes SolutionMap so powerful."
Spend Matters tracks over 50 procure-to-pay solution providers. This eProcurement SolutionMap features many of the largest eProcurement providers including BuyerQuest, Claritum, Coupa, Determine, GEP, IBX, Ivalua, Nimbi, Pool4Tool, SAP Ariba, Vroozi and Zycus. It also features industry specialists Birchstreet (hospitality) and Prodigo (healthcare), which were analyzed with respect to their vertical sector focus.
Once a SolutionMap is launched, the Spend Matters analyst team issues quarterly updates to actively reflect market developments and to add new vendors.
About Spend Matters SolutionMap℠
SolutionMap℠ rates technology providers from a solution and customer value perspective and depicts vendor rankings based on common procurement organization 'personas' to reflect the unique value propositions served by a vendor for specific customer segments and stakeholders.
It provides a point-in-time perspective, which may be useful as either a starting point in an evaluation journey or a contributing factor to a formal software selection process, but it is not intended as the sole source for vendor identification or evaluation.
Spend Matters does not endorse any vendor, product or service depicted in SolutionMap and does not advise users to select only those with the highest ratings or other designation.
SolutionMap is updated quarterly post release to actively reflect market developments and add new vendors. For more information, visit SpendMatters.com or contact Spend Matters.
About Spend Matters
Spend Matters is a leading global B2B network focused on procurement and supply chain content with hard-hitting research, analysis, commentary and breaking news coverage. Spend Matters publishes more research than any other analyst firm and has unmatched subject matter expertise and depth of knowledge from its wealth of contributors, ranging from senior practitioners and consultants to technology experts. Spend Matters is operated under management company Azul Partners, Inc.