Spend Matters has released its Q4 2019 SolutionMap procurement technology benchmark rankings of 59 procurement software companies across 12 solution categories.
Based on equal parts objective technology capability ranking (done by our analysts every quarter) and customer feedback scores with set weightings, SolutionMap evaluates vendors in the following categories:
- Invoice-to-Pay (I2P)
- Procure-to-Pay (P2P)
- Source-to-Pay (S2P), a suite view that includes all P2P and strategic procurement technologies’ categories
- Spend & Procurement Analytics
- Contract Lifecycle Management (CLM)
- Supplier Relationship Management (SRM) & Risk
- Strategic Procurement Technologies, a suite view that includes Sourcing, Analytics, CLM and SRM
- Contingent Workforce & Services Enterprise Technology, which maps Contract Services/Statement of Work (SOW), Temp Staffing, and Direct Sourcing of Workforce/Services* (DSW/S).
*Last quarter, Spend Matters renamed the “Independent Contingent Workers (ICW)” category to “Direct Sourcing of Workforce/Services (DSW/S)” to reflect industry developments — yet not to be confused with direct materials sourcing.
In total, the Q4 2019 SolutionMap considers well over 1,000 functional and platform components across the source-to-pay and services procurement modules and suites listed above. For the customer score, it leverages 1,000+ user/peer reviews, which factor into the transparent vendor rankings.
Instead of providing a single view of the benchmarking data, the free version of SolutionMap is built on “buying personas” that provide multiple ranking graphics for each module based on key buyer requirements.
Begin exploring procurement software vendor rankings now, in the quadrant-graphic format below, for free: Visit the SolutionMap homepage.
Note: All SolutionMap persona graphics are centered at the average of participating vendor scores across the analyst score (y) axis and customer score (x) axis for that specific graphic and scaled accordingly. Vendor and customer scores, and hence relative placement of a vendor’s bubble, will differ by graphic as each score or response is weighted differently across the different personas.
What’s New in Q4 2019
For the Q4 2019 SolutionMap release, Spend Matters welcomed three new solution providers. We’ve also updated the naming convention for Jaggaer’s product lines in the visual rankings now that the Spend Matters analyst team has fully evaluated the company’s unified platform, Jaggaer One, for the Q4 2019 SolutionMap release.
New Providers Added
The Q4 2019 SolutionMap added these three procurement software providers:
- Promena — in the Sourcing SolutionMap category
- Spendata — in the Spend & Procurement Analytics SolutionMap category
- Vendorful — in the Sourcing and Supplier Relationship Management (SRM) & Risk SolutionMap categories
Also, Wax Digital has added a new category to its existing participation this quarter: Contract Lifecycle Management (CLM).
Lastly, a few additional naming convention changes are reflected in the Q4 2019 SolutionMap:
A note on the naming convention for Jaggaer
As Jaggaer has unified three of its product lines — Jaggaer Indirect, Jaggaer Direct and Jaggaer Advantage — into Jaggaer One, which allows customers and prospects to select the best modules from each offering to fit an organization’s unique needs, Spend Matters has broken out the naming convention for the Jaggaer offerings (see this table) more specifically in the persona ranking graphics for Q4 2019 SolutionMap, as follows:
- Jaggaer One is Jaggaer Sourcing, Jaggaer Supplier Management, Jaggaer Spend Analytics, Jaggaer Contracts+, Jaggaer eProcurement, and Jaggaer Invoice-to-Pay, and corresponds to what was formerly Jaggaer Indirect.
- Jaggaer One+ is Jaggaer Sourcing+, Jaggaer Supplier Management+, Jaggaer Spend Analytics+, and Jaggaer Contracts, and corresponds to what was formerly Jaggaer Advantage.
- Jaggaer One Direct is Jaggaer Direct Sourcing and Jaggaer Direct Supplier Management and corresponds to what was formerly Jaggaer Direct.
Jaggaer One (formerly Indirect) solutions are, for the first time, participating in all standalone modules — E-Procurement, Invoice-to-Pay, Sourcing, Spend Analytics, Supplier Relationship Management & Risk and Contract Lifecycle Management — necessary to be ranked in the S2P suites SolutionMap in Q4 2019.
Detailed updates and analysis on all the changes reflected in the Q4 SolutionMap are available in the Release Notes briefs, as part of the SolutionMap Insider subscriber offering (paywall):
Browse all available SolutionMap content and articles here, including Q4 2019 Provider Scoring Summary reports.
What Is Spend Matters SolutionMap, and How Do I Use It?
- Ranks the top software companies used by procurement and supply chain organizations
- Consists of equal parts analyst scoring and customer input
- Reflects specific organizational needs through buying personas for each map
- Updates quarterly to show market developments in each category
SolutionMap provides procurement and supply chain organizations with a comprehensive means to compare software companies across categories, assess vendor capabilities based on organizational needs and identify best-fit shortlists for tech selection.
In short, it enables procurement practitioners to create a flexible procurement roadmap and technology architecture.
Now it’s time to take a spin if you haven’t already.
When you arrive at the SolutionMap home page, you will be able to:
- Choose a software category
- Select your persona
- View SolutionMap vendor rankings
You’ll also be able to learn about each procurement software category and persona definition in detail, as well as read up on the Spend Matters analyst team’s methodology, before seeing how this quarter’s participating vendors performed.
Want to Get the Most Mileage Out of SolutionMap?
Our Chief Research Officer Pierre Mitchell lays out the many possibilities:
“We can do scenario modeling of vendor capabilities and play out different scenarios such as off-the-shelf technology options versus different levels of customization, bundled vendors versus a traditional suite offering, running relative newcomers against established vendors,” Mitchell said.
“And we can provide counsel on creating a more flexible architecture and roadmap based on the current and future needs of a procurement organization.”
Round Out Your Procurement Software Roadmap: SolutionMap Insider
On a self-service basis, anyone can sign up for our SolutionMap Insider subscription. This includes members-only access to Provider Scoring Summary reports and ratings of all participating procurement software companies.
The subscription features:
Learn more here, including how to contact us for more info, such as pricing. (Discounts are available for multiple subscription areas.)