On October 31, six of Spend Matters’ analysts hosted a webinar titled “‘Know’ what to ‘Watch’: 2022’s Top Tech to Maximize Your Impact.”
In the webinar, the analysts covered the broad pain points they uncovered while selecting vendors for 2022’s “50 Procurement Providers to Watch,” “50 Procurement Providers to Know” and “Future 5” lists. Even though this was the ninth time the analysts compiled the 50/50 and the third time determining the Future 5, the industry’s landscape is ever-changing.
Did you know Spend Matters has a free procurement vendor directory with 500+ listings? Consult the Almanac for a quick vendor overview.
Nikhil Gaur, Associate Analyst for CLM, began the discussion by covering the reasons for the exercise and how the analysts approached it differently this year. Bertrand Maltaverne, Senior Analyst for Supplier Management and Sourcing, then laid out how ESG was the major theme behind the macro changes in the market. Specifically, ESG capabilities had evolved from being “a nice to have” function into a necessary one. This was driven both by consumer demand and increased government regulation.
Nick Heinzmann, VP of Research, turned the webinar to breaking down procurement’s micro trends in 2022. He noted that despite their incredible resemblances, the suites of the procurement market actually address different pain points. Xavier Olivera, Senior Analyst for P2P, elaborated on how certain suites target specific geographies by enabling payments between different regulations.
The major pain point felt across all aspects of procurement is the need for quality data. Each procurement function produces data, creating an avalanche out of snowflakes. Too much information without the capability of analyzing it causes paralysis. Again, Nick reiterated, different vendors are addressing different parts of the problem.
Interested in a benchmark of all key procurement technology vendors? View the SolutionMap rankings.
If you would like to watch or listen to the entire webinar, follow the link here. You will learn the placement of procurement companies within the broader market landscape including:
Transparency-OneUtmostScoutbeeSupplyShiftSimfoniSievoRosslynSpendataAnaplanBrightfieldOrpheus (a McKinsey Company)SpendHQSuplariIgnite ProcurementEfficioAgiloftDocuSignIcertisContractAIContractPodAIEvisortSirionLabsCongaKodiak HubCirculorEcoVadisIntegrity NextAera TechnologyBeroeCirtuoThe Smart CubeRheaplyVertexEmburseCreactivesOneMarketTradeshiftTipaltiBaswareFleetcorTungstenSoftCoC2FOSovosTransferMateAirbaseStampliNipendoDataServTeampayYoozAvidXchangePageroOrderCandexAvettaEverstream AnalyticsInterosRapidRatingsResilincriskmethodsCertaArkestroMarket DojoFairMarkitGlobalityKeelvarWTPServiceNowAmazon BusinessPromenaArchletPart AnalyticsCorcentricCoupaGEPIvaluaProactisWorkdaySAP AribaJaggaerMediusOracleOventisSupplHiState of FluxApexanalytixGraphiteConnectHICXTealBookZIPSourceDayProcurenceQAD (Allocation)MagnitPIXIDKissflowNétiveCarbmeeFocal PointOpenEnvoyRelishProcureWise
For procurement vendor insights, access the webinar on demand now. The slide deck and a supplementary deck are available for those who really want to dig into the insights.
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