Plus or PRO Content

Tradeshift: Vendor Snapshot Update (Part 1) — Background and Solution Overview [PRO]

Tradeshift is a cloud platform that connects buyers and suppliers with the goal of digitizing supply chain relationships, processes and information, while also enabling everyday procure-to-pay activities. Its capabilities span the buying of goods and services through to financing and payment — and significant capability in between, especially in the invoice-to-pay area.

In addition to providing its own procure-to-pay modules, Tradeshift offers an open integration framework that allows other technology firms (and customers) to integrate and/or development third-party apps, primarily centered on supplier connectivity, transaction enablement and collaboration. Tradeshift can even integrate alternative procure-to-pay providers in cases where specific enabling capability is desired.

This three-part Spend Matters PRO analysis provides an update on Tradeshift capabilities, both as a platform-as-a-service (PaaS) provider and as an e-procurement and invoice-to-pay technology vendor.

The updates since last year's review include information about real-time collaboration; a single sign-on; centralized access to POs, invoices, etc.; an AI-assisted chatbot named Ada; buying topics about GPOs and direct materials; global support; and new sections on payments/trade financing, analytics, services, integration and technology like blockchain.

The PRO analysis is designed to provide facts and expert analysis to help procurement and finance organizations make informed decisions about whether they should consider Tradeshift for both traditional “in-the-box” procure-to-pay requirements as well as unique marketplace/platform-type digital initiatives.

Part 1 of our analysis provides a company background and detailed solution overview, as well as a summary recommended fit suggestion for when organizations should consider Tradeshift as a complement to other procurement and finance solutions. The remaining parts of this research brief will cover product strengths and weaknesses, competitor and SWOT analyses, and insider evaluation and selection considerations.

Givewith: Vendor Introduction (Background, Solution Overview, SWOT, Checklist) [PRO]

wind power

Givewith and SAP Ariba announced a partnership today for Givewith to integrate with Ariba’s sourcing module so companies can find nonprofit groups that can help improve the companies' corporate social responsibility (CSR) and sustainability efforts.

In this Spend Matters PRO Vendor Introduction, let’s see what Givewith’s solution has to offer and why it’s important now.

Consumers, investors and governments are pushing businesses to consider the larger social impact of their operations. And corporations, for their part, are starting to evaluate the ways they can respond. The August 2019 Business Roundtable restatement on the purpose of a corporation is one prominent example, in which multiple CEOs affirmed that a company’s mission should include not only increasing shareholder value but also betterment of customers, employees, suppliers and communities.

Such declarations are noble on paper, but they also have profit-focused incentives behind them. ESG ratings (environmental, social and governance) are becoming more relevant in investor decisions, so corporations are finding investments in programs for sustainability and CSR are now required to attract funding. Similarly, a strong corporate responsibility vision and track-record of action on social issues is becoming a selling point with consumers, as well as a reason for those consumers to consider working for (and remaining employed at) those businesses.

So where does procurement fit into all of this? According to the thinking behind Givewith, B2B transactions represent a major opportunity to generate funding for nonprofit programs. If procurement can recommend a slate of potential CSR or sustainability initiatives to fund during an RFI (or, if a supplier can do the same when constructing a bid response, to create a unique selling point), the business can use existing sourcing processes to yield operational and social impacts.

It’s a unique concept in the B2B space, and one that Givewith aims to scale quickly via its major initial partnership: A prebuilt integration directly into SAP Ariba’s sourcing module.

This Vendor Introduction offers a deep look at Givewith and its capabilities. It includes an overview of Givewith’s B2B offering (Givewith Enterprise), a SWOT analysis and a selection requirements checklist for companies that might consider the provider.

Procurement Technology, Consulting Pricing Trends and Negotiation Strategies – The Times They Are a-Changin’ (Part 1) [Plus+]

Editor's note: This is a refresh of our 2012 series on solution provider pricing trends and negotiation strategies, which originally ran on Spend Matters PRO.

This 4-part series will provide a look at software provider and management consulting pricing trends and negotiation strategies within the procurement and operations area. It provides insight to buying organizations that may be helpful in negotiating with vendors such as Ariba, SAP, Oracle, Emptoris, Zycus and others, as well as recommendations for how best to engage with consultancies for price and value in the current environment.

E-Procurement Tech Selection and the Configurator Persona: Analysis & Commentary [PRO]

The e-procurement solutions market has been growing for the last seven years. Because of this rapid growth, the market is also fragmented, with numerous vendors competing for procurement organizations’ attention. Yet no one vendor is an ideal fit for all companies, due to the unique requirements of different organizations’ sizes, industry/vertical and prior technology investments (or lack thereof).

So how can companies with different needs evaluate procurement solutions amid an array of vendors with different capabilities?

Spend Matters’ vendor rankings in SolutionMap account for these differences using a persona-based approach. Each SolutionMap persona is calibrated to weight evaluation requirements so that it reflects the profile of certain kinds of buyers. For example, the “Nimble” persona reflects small and medium-size businesses that prioritize fast time-to-value and ease of use in the selections; the “CIO Friendly” persona emphasizes technical foundation and interoperability with other enterprise systems to make for a straightforward implementation.

So what do SolutionMap personas look at for e-procurement, and how can they help your organization make better technology decisions?

In a series of PRO articles, we’ll analyze the market according to the different SolutionMap E-Procurement personas: Nimble, Deep, Turn-Key, Configurator and CIO Friendly. (See persona definitions* below.)

This review is organized just like the RFI for SolutionMap, according to these topics: platform capabilities, features & functionalities, and customer value.

Let’s look at the e-procurement features and vendors as viewed by the Configurator persona.

Mintec: Vendor Introduction (Part 2 — Positives and Negatives, SWOT Analysis, Selection Checklist) [PRO]

As we indicated in Part 1 of this Spend Matters Vendor Introduction of Mintec, there is no WaaS (weather-as-a-service) and, as a result, commodity price volatility in the agricultural sector is here to stay for the foreseeable future. But procurement professionals have to manage it somehow, and the only solution they have now is commodity market intelligence, of which Mintec is one of the largest, and oldest, market-intelligence providers in the sector.

With a database of over 14,000 unique market data sets across 20+ commodity categories and truly global geographies, Mintec is the go-to source for many large agricultural buying organizations around the world.

Should they be your go-to source too?

In this second part of our introduction, we’ll look at the positives and negatives and provide an overall SWOT and a selection checklist — all of which can help you make an informed decision.

Workday and Scout RFP: Customer Recommendations [PRO]

This Spend Matters PRO research brief provides analysis in support of Workday and Scout RFP customers following last week’s news that Workday is acquiring the sourcing provider. Previous coverage of the transaction with content aimed at CEOs, strategy / corporate development leaders and investors can be found on Spend Matters Nexus (see Part 1, Part 2, Part 3 and Part 4).

Nexus coverage provides an overview of the transaction, an introduction to Scout RFP, Scout RFP strengths / weaknesses, competitive analysis and recommendations (for ERP providers, suite providers and best-of-breed providers, separately) and potential Workday and Scout RFP integration touchpoints.

Today on Spend Matters PRO, we turn our attention to those which will be most impacted by the announcement: Scout RFP and Workday customers. We encourage Spend Matters PRO practitioner clients who are using or considering Scout RFP or Workday for procurement to contact us for more information on how the acquisition could affect them.

Mintec: Vendor Introduction (Part 1 — Background and Solution Overview) [PRO]

No matter how well they prepare, commodity buyers can do nothing about the weather. So until a supervillain decides to make a mid-life career shift to be a SaaS vendor — weather-as-a-service (WaaS), anyone? — procurement organizations buying in the food & beverage categories will have to manage commodity price volatility as it happens.

To do that, many businesses in the food retail, food manufacturing and hospitality industries turn to Mintec. Founded in 1982, Mintec is a UK-based provider of commodity data and analytics tools for the food and drink vertical. It collects, validates and organizes data across hundreds of agricultural commodities and related inputs (e.g., packaging, plastics, labor), which it then distributes via a SaaS platform designed for category planning and analysis.

This Spend Matters PRO Vendor Introduction offers a candid take on Mintec and its capabilities. It includes an overview of Mintec’s SaaS offering (Mintec Analytics). Part 2 will offer a breakdown of what is comparatively good (and not so good) about its solution, a SWOT analysis of Mintec, and a selection requirements checklist for businesses that might consider the provider.

E-Procurement Tech Selection and the Deep Persona: Analysis & Commentary [PRO]

The e-procurement solutions market has been growing for the last seven years. Because of this rapid growth, the market is also fragmented, with numerous vendors competing for procurement organizations’ attention. Yet no one vendor is an ideal fit for all companies, due to the unique requirements of different organizations’ sizes, industry/vertical and prior technology investments (or lack thereof).

So how can companies with different needs evaluate procurement solutions amid an array of vendors with different capabilities?

Spend Matters’ vendor rankings in SolutionMap account for these differences using a persona-based approach. Each SolutionMap persona is calibrated to weight evaluation requirements so that it reflects the profile of certain kinds of buyers. For example, the “Nimble” persona reflects small and medium-size businesses that prioritize fast time-to-value and ease of use in the selections; the “CIO Friendly” persona emphasizes technical foundation and interoperability with other enterprise systems to make for a straightforward implementation.

So what do SolutionMap personas look at for e-procurement, and how can they help your organization make better technology decisions?

In a series of PRO articles, we’ll analyze the market according to the different e-procurement personas: Nimble, Deep, Turn-key, Configurator and CIO Friendly. (See persona definitions* below.)

This review is organized just like the RFI for SolutionMap, according to these topics: platform capabilities, features & functionalities, and customer value.

Now let’s look at the e-procurement features and vendors as viewed by the Deep persona.

Not all ‘digital’ transformation is the same: 6 degrees of difficulty [PRO]

Buzzwords abound out there, and a lot of common words are used by folks without necessarily having a common understanding of the meaning. For example, take the phrase “digital procurement transformation.” Even the individual words themselves alone can have different interpretations:

* Digital — Does this mean digitization of procurement processes through workflow automation, or is it something broader?
* Procurement — Is this all of source-to-pay or just procure-to-pay? Or just everything that a procurement department does, including broader supply chain efforts?
* Transformation — Can this just be incremental, continuous improvement, or does it have to be a more discontinuous transformation program?

The problem for practitioners is how to cut through the clutter of this terminology and more easily learn from others surrounding adoption of “digital” in different ways. For example, there is certainly a lot to learn just in terms of better implementation of systems for automating good old-fashioned sourcing, requisitioning, ordering, receiving and paying.

But, there are also higher order digital capabilities that go beyond just automating the proverbial cow path. For example, advanced analytics such as bid optimization can enable new sets of sourcing processes that were not really feasible before. Similarly, techniques such as community-based procurement that use technology across firms can create new value beyond automating within a single firm.

There is actually a spectrum of digital related competencies from basic source-to-pay workflow automation all the way through to procurement-enabled disruptive value chain initiatives. So, if you have mastered some of these basic capabilities for digital transformation and procurement, it is time to raise the “degree of difficulty” and see how others are faring in terms of picking the higher hanging fruit.

In this Spend Matters PRO analysis, we will outline six levels of digital procurement sophistication, and also see how more than 400 organizations stack up based on the latest research.

Orpheus: Vendor Snapshot (Part 3) — SWOT, Competitive Analysis and Summary [PRO]

Spend Analysis. Every company needs it, but not every company knows what they need or how to use it. As per our first post, it could be defined as:

* An extensive set of canned reports across a defined data set
* User Defined Reports and Views on a static ROLAP Cube
* Dynamic Cube Construction and View Creation on a predefined data set
* Dynamic Cube Construction and Federation on an extensible, user-defined data set

Depending on the provider, it may or may not include:

* Data Consolidation and Cleansing
* Data Enrichment
* Data Classification and Categorization
* Data Synchronization with Source Systems

And that’s just the tip of the iceberg on what one has to consider before even inviting a pool of candidates to an RFI, yet alone whittling down to three that all have the core capabilities the organization needs and that can all, more-or-less, be compared apples-to-apples when the RFIs come in.

That’s why in the first part of this three-part series we took our time to define Orpheus and its solutions, including components and capabilities not offered by every spend analysis vendor on the market. Then, in Part 2, we dove deep into the solution, highlighting particular strengths and bringing to light some of the weaknesses compared to peers (which may or may not matter depending on what your organization is looking for). Now, in our third and final part, we will provide a SWOT analysis, a competitive market analysis and a summary with commentary.

Orpheus: Vendor Snapshot (Part 2) — Product Strengths and Weaknesses [PRO]

In Part 1 of Spend Matters’ three-part PRO Vendor Snapshot on Orpheus, we started out by explaining how the definition of spend analysis differs from client to client and how it is a buyer-beware market — as not all vendors have the same technological capabilities, and you can’t compare their quotes as apples-to-apples. That’s why it’s important to understand what a vendor can do, and what it can’t, before whittling down to the final three and definitely before making a selection — because not all vendors will have what Oprheus has to offer.

While many vendors can slice and dice, cube and derive, and find opportunities on the fly — not all have initiative tracking, not all have AI, and not all have the experience of classifying over half a billion transactions across 4 million suppliers for 15 years of operation. This is pretty distinctive, and we’ve only completed the introduction so far.

In today’s post, we will dive into the strengths and weaknesses, giving you deep insight into the platform.

In Part 3, we will provide a SWOT analysis of Orpheus and discuss the competitive market that surrounds it. We will conclude with some commentary and hopefully will leave you with deep insights into who Orpheus is and what it can do.

Orpheus: Vendor Snapshot (Part 1) — Background and Solution Overview [PRO]

procurement

“Spend analysis” is one of the most misused terms in the solution space, especially since the exact scope of what a vendor offers with respect to spend analysis varies by vendor and the scope of what a buyer expects when they buy a spend-analysis solution varies by the buyer. You see, what a vendor offers depends upon their philosophy to analysis and where they are on the development curve with respect to that. What a buyer expects depends upon their level of procurement maturity, what they are aware of as being possible with a modern spend analysis tool, and their level of master data maturity.

You see, "spend analysis" has been, is and will be defined in various ways by various vendors. Depending on the vendor, it could be defined as:

* An extensive set of canned reports across a defined data set
* User Defined Reports and Views on a static ROLAP Cube
* Dynamic Cube Construction and View Creation on a pre-defined data set
* Dynamic Cube Construction and Federation on an extensible, user defined data set

Depending on the provider, it may or may not include:

* Data Consolidation and Cleansing
* Data Enrichment
* Data Classification and Categorization
* Data Synchronization with Source Systems

And depending on the provider philosophy, the classification may be:

* Rules-based
* Automated using statistical / clustering / neural networks
* Machine learning that adjusts the rules to improve the classification over time
* Hybrid approach that does auto-classification and allows for pre-classification using fixed rules and post-classification for mapping corrections
* Machine learning that identifies fixed, deterministic classification rules that are applied with user defined rules for all classification

And the data may or may not be limited to:

* Integrated data sources in the platform that the analysis tool is integrated into
* Integrated data sources, pre-integrated ERP and select API feeds
* A data lake maintained by the provider
* Any data you can push into the data lake it is configured to work on

And so on. In other words, what a vendor offers when they offer spend analysis varies by the vendor, and what a buyer might get can vary widely.

So in this three-part Spend Matters Pro Vendor Snapshot on Orpheus, we will try to leave you with a clear understanding of exactly what Orpheus offers with respect to spend analysis and whether they might be the right provider for you.

In Part 1, we will provide a brief company overview and a look at Oprheus' main offerings.

For Part 2, we will provide a breakdown of what is comparatively good (and maybe not so good) about the solution.

In Part 3, we’ll offer a high-level SWOT analysis, some market implications and a summary.