Spend analysis software is an advanced analytical tool that helps companies to identify, gather, cleanse, categorize, and analyze expenditure data with the aim of reducing procurement cost, improving efficiency and continuously updating an organization’s data to ensure that all contract terms and compliance requirements are being adhered to. Spend analysis software can also be leveraged in other business areas such as inventory management, budgeting and planning, and product and process development.

COMPETITIVE LEADERSHIP MAPPING TERMINOLOGY

The vendors have been placed in four categories, based on their performance in each criterion under spend analysis software quadrant: “vanguards,” “innovators,” “emerging,” and “dynamic.” The top 25 players have been evaluated in this section of the report. The analysis has been carried out based on specific parameters related to Spend analysis software, and the scores have been assigned accordingly.

VISIONARY LEADERS

Vendors who fall into this MicroQuadrant receive high scores for most of the evaluation criterion. The vendors in this section have a strong and established product portfolio, and a very strong market presence. They provide mature and reputable Spend analysis software that cater to a wide range of verticals, globally. They also have strong business strategies.

INNOVATORS

Innovators grouped in this category have demonstrated substantial product innovations as compared to their competitors. They have very focused product portfolios. However, they do not have very strong growth strategies for their overall businesses.

DYNAMIC DIFFERENTIATORS

These are established vendors with very strong business strategies. However, they score low in their product portfolios. They generally focus on a specific type of technology related to the Spend analysis software. The vendors included in this section of the MicroQuadrant have a good customer base and are providers of software and services catering to other technologies as well.

EMERGING COMPANIES

These are vendors with niche product offerings and are just beginning to gain recognition in the market. They do not have very strong business strategies as compared to other established vendors. They might be new entrants in the market and could require some more time before gaining significant traction. There have been significant transformations in the functioning of businesses with the expansive penetration of IT infrastructure among organizations. The extensive IT environment of an organization not only enhances flexibility in business functionalities, but also adds to its overall productivity. This results in an increased amount of data, thus forcing industry players to analyze its aspects and gather insights into driving their business growth. In the areas of strategic sourcing and procurement, spend and procurement analytics solutions help to improve processes and operational efficiency. Moreover, these solutions help to perform financial analysis, contract management, and risk and compliance management. Based on vertical, the spend and procurement analytics market is segmented into BFSI, telecommunications and IT, retail and eCommerce, healthcare and life sciences, government and defense, manufacturing, energy and utilities, and others. MANUFACTURING The manufacturing sector includes facilities required for manufacturing heavy construction equipment, farm equipment, rail cars and engines, airplanes and airplane parts, shipbuilding, turbines and generators, lawn and garden equipment, compressors, pumps, conveyors, military equipment, household and commercial appliances, mining equipment, oil and gas field equipment, and transformers among others. Spend and procurement analytics solutions play a crucial role in improving operational efficiency and financial performance as sourcing accounts for almost up to 75% of the overall cost in a typical manufacturing organization. Spend and procurement analytics also provides inputs for planning, budgeting, and product strategies with global spend visibility across enterprises and assists in making informed business decisions. Additionally, spend analytics is proving beneficial for organizations in supplier performance management, working capital performance, parts standardization, and sourcing strategy development, among others. Industry players are striving to offer sophisticated spend and procurement analytics solutions to meet customer demand. RETAIL AND ECOMMERCE The retail industry is undergoing significant transformation with the rapid economic and income growth in the emerging nations. Big data has emerged as a pivotal element in building business development strategies. The industry is facing various challenges, such as long-term uptrend in commodity and raw material prices, changing supply chain architecture, and cost-trend dynamics. In such a scenario, the role of retail sourcing and procurement departments becomes crucial for boosting brand equity and operating margin, driving differentiation, and harvesting insights from big data as much as possible. Spend analytics helps to design and develop cost-competitive global business strategies for enhancing business productivity, lowering costs, and optimizing transportation and logistics networks.
The telecommunications and IT sector has witnessed rapid growth in the past decade and is undergoing significant transformation. With its large size, the industry exhibits complex contracts, inter-dependency of services, disparate spends, and minimal resources and time. This has resulted in the slower adoption of sophisticated spend management solutions and supplier contract renewables. Strategic sourcing and spend analytics solutions empower organizations to analyze telecom spends and prepare comprehensive reports detailing the current state of a supplier, carrier service, equipment, contract terms, and utilization rates. These reports allow organizations to perform gap analysis between technology adoption and market objectives, which in turn, helps to understand spending trends and make informed decisions. Apart from industry vendors who offer spend and procurement analytics solutions to telecommunications and IT organizations, various managed services providers such as Source One also offer spend and procurement analytics solutions.

Last updated on: Oct 16, 2019
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Spend Analytics Software Quadrant

Comparing 43 vendors in Spend Analytics Software across 129 criteria.

Find the best Spend Analytics Software solution for your business, using ratings and reviews from buyers, analysts, vendors and industry experts

EVALUATION CRITERIA

Below criteria are most commonly used for comparing Spend Analytics Software tools.
  • Breadth and Depth of Product Offering
    • Products/solutions offer in spend & procurement analytics space
    • Product variants or licenses (such as enterprise, professional)
    • Which of the following services do you offer for spend & procurement analytics
      • Maanged Services
      • Support and maintenance services - Professional service
      • Consulting services - Professional service
      • Any other professional services -Professional service
    • Amongst the listed software, which of the following does your product provide
      • Real-time analysis
      • Visualization
      • Financial Analysis
      • Sourcing Analysis
      • Compliance Management
      • Spend Analysis
      • Others(Please Specify)- the listed software
  • Breadth of Applications Served
    • Which type of business functions does your product support
      • Production
      • Finance
      • Procurement
      • Marketing
      • Others (Please Specify)- business functions
    • Which type of analytics does your product provide
      • Predictive Analytics
      • Prescriptive Analytics
      • Descriptive Analytics
    • What are the applications your product provides in the spend analytics & procurement market
      • Risk Management
      • Governance & Compliance Management
      • Supplier Sourcing & Performance Management
      • Financial Management
      • Demand and Supply Forecasting
      • Others(Please Specify)- the spend analytics & procurement market
  • Delivery
    • Which of the following is the most preferred mode of delivery at client locations
      • Subscription / Licensing
      • Full Time Equivalent
      • Per User Basis
    • Which of the following end-user(s) does your spend analytics & procurement product caters to
      • Manufacturing
      • Retail & Ecommerce
      • Healthcare and Life Sciences
      • IT and Telecommunication
      • Governmnet and Defense
      • Others (Please Specify)- end-user(s)
      • Energy & Utilities
    • Which of the following deployment model do you provide
      • On-Premise
      • Cloud
    • How do you deliver your solutions to your customers
      • Directly
      • Through Partners / Third-Party Vendors / MSSPs
  • Scalability
    • The minimum hardware and/or OS configuration required for deploying/running your solution/product.
    • IS your product scalable,If yes, please mention a few details.
  • Support + Service
    • Levels of support (such as silver, gold, and platinum)
    • The customer redressal mechanism/program in case of customer complaints/grievances.
    • Which of the following type(s) of support service your company offers
      • Technical Support
      • Customer Support
      • Sales Support
      • Others, please specify- support service
    • Which of the following pre-sales support activities do you provide
      • Software Requirement Specification (SRS)
      • Product Demos
      • Others (Please specify)- pre-sales support
    • Which of the following is the most preferred medium of delivery of support services
      • Remote Support
      • On-Site Support

TOP VENDORS

  • 1

    Oracle Spend Analysis Software allows the executives to effectively manage the procurement process with quick scan of direct as well as indirect spending across the entire value chain and tap the saving opportunities. The software includes pre-built data models and more than 100 metrics, which facilitates faster implementation at reduced risks as compared to traditional BI applications. Oracle Spend Analysis Software is available to use in conjunction with Oracle Exalytics, the company's in-memory platform, which further improves the speed of data analysis and provide the insights within a fraction of time. The support for large number of concurrent users in an enterprise with competence on mobile and tablet of procurement and spend analytics solution positions the company among the leading solution providers in the market. Oracle Spend Analysis Software offers solution as a complete package with inclusion of associated services.

    Read More
    • Enterprise
    • California, USA
    • Founded: 1977
    • $10BN to $50BN
    • 1,00,001 to 5,00,000
  • 2

    SAS Institute offers SAS Spend Analysis as its product offering to the spend and procurement analytics market. SAS Spend analysis is one of the integral components of SAS SRM, an integrated set of data management and analytic applications that help organizations gain greater insights into all aspects of the procurement activity, leading to more effective strategic sourcing decisions. Difficulties reducing the procurement spend can often be traced to a lack of visibility across suppliers and commodities. SAS Spend Analysis provides a lower and upper boundary criterion for each evaluation, which can be adjusted dynamically unlike the fixed weights used in a traditional weighted averages method. This helps reduce the total spend and supplier risk, and allows organizations to determine which suppliers are best suited for their company's needs. Procuring data visibility, maintaining data quality, best practice reports for identifying cost-saving opportunities, and supplier rankings based on user-specific criterion are some of the features of the SAS Spend Analysis. SAS Sourcing Strategy is available as an add-on to SAS Spend Analysis, enabling users to create user-defined business rules for narrowing down the ordered list of suppliers and recommending the best way to achieve the procurement goals. SAS provides a single-user license or mid-sized business solutions for its client's organization.

    Read More
    • Enterprise
    • North Carolina, USA
    • Founded: 1976
    • $1BN to $5BN
    • 10,001 to 15,000
    • Enterprise
    • Weinheim, Germany
    • Founded: 1972
    • $10BN to $50BN
    • 75,001 to 1,00,000
  • 4

    IBM Spend Analysis Software are under its flagship Emptoris product category. In 2012, IBM acquired Emptoris, a sourcing and spend management solutions developer, to add spend analysis, contract management and procurement solutions to its product portfolio. Today, IBM recognized as one of the leading players in the global spend analytics market. IBM Spend Analysis Software - Emptoris helps to consolidate, cleanse and classify spend data captured from dispersed systems. The enterprise-wide visibility helps to gain a full and accurate view of spending with the identification of broad spending trends with the help of real-time dashboards. This allows the users to view spending across wide parameters such as a commodity, cost center, payment terms and geography among others. Moreover, the risk prioritization feature enables the users to manage procurement in a better manner considering factors such as price fluctuations, supplier terms among others.

    Read More
    • Enterprise
    • New York, USA
    • Founded: 1911
    • $50BN to $100BN
    • 1,00,001 to 5,00,000
  • 5

    Jaggaer Spend Analysis S2P solution comprises spend analytics, sourcing, contract management, supplier management, eProcurement, chemical management, and account payable and saving management. SPEND RADAR is a Jaggaer Spend Analysis solution offered by JAGGAER, which performs analysis on spend and non-spend data. The flexible deployment model used for the solution can use data from any disparate source. The Data Manager component is used to clean data collected from these sources and then classify it within the Master Data Management (MDM). The categorized or uncategorized data can be improved by third-party suppliers and market content to further improve its quality and reliability. Pre-built reports, dashboards, and configured templates form a powerful reporting system, enabling the proper delivery of data to respective stakeholders. Send Radar provides up-to-date information to organizations of all sizes, using the most comprehensive spend analysis tools. Broader procurement analytics can be performed using additional non-spend data sources that also automate the purchasing process; drive contract compliance and inventory management solutions that find, source, and track chemicals, and research supplies. It also comprises accounts payable solutions that automate the invoice processing and vendor payment processes, and a supplier network that provides a single platform for various supplier interactions. The company provides solutions on-demand over the internet, using the SaaS model. Jaggaer Spend Analysis also provides professional services, which help teams categorize MDM at regular intervals (weekly/monthly). Customer support and online training provide a readymade platform to resolve queries and inculcate practical knowledge to the Send Radar users.

    Read More
    • Enterprise
    • 501 to 1,000
  • 6

    Coupa Spend Analysis Software provides a cloud-based spend management platform, comprising the procurement, invoicing, and expense management modules, which together form the transactional engine and help capture the company's spend, under management. The platform also includes supporting modules, such as sourcing, analytics, contract management, supplier management, inventory management, and storefront, which help companies manage their spend transactions efficiently. Coupa Spend Analysis is highly integrated, with a broad range of capabilities, which would otherwise require the purchase of various applications. Moreover, it is user-friendly and reduces the complexity by providing a mobile-enabled internet-like experience to the consumer, by which, users across the entire organization as well as suppliers can use it. Dashboards and reports can be delivered in real-time, thus helping companies identify problems and making better spend decisions. Coupa provides professional services, such as implementation, which helps organizations in using Coupa's spend management platform more efficiently. Coupa Spend Analysis Software also provides supplier enablement service, by which, companies can get suppliers onboard, without much effort.

    Read More
    • Enterprise
    • 501 to 1,000
  • 7

    PROACTIS is globally recognised for its spend control and eProcurement solutions, catering the solutions to both SMEs and large enterprises. The company constantly aims to improve its product offerings and expand its customer base. Presently, the company is working on diversifying its spend and procurement product suites.

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    • Enterprise
    • 501 to 1,000
  • 8

    Zycus, which purely deals with strategic sourcing and procurement solutions, has garnered its position among leading vendors in the spend and procurement analytics market. The broad range of offerings under strategic sourcing and procure-to-pay suites has enabled the company to expand its client list across the globe. Especially the strategic sourcing suite, which encompasses spend analysis, contract management, supplier management and project management solutions, is highly adopted among customers. Zycus Spend Analysis solution comprised of AutoClass, iCost, iMine and iAnalyze modules empowers the users to easily monitor trends across enterprise wide spend data with the help of advanced visualization. These solutions provide complete package for procurement issues with built with notable features such as AI based automated spend data classification, multi-language support and supplier information regarding commodity prices. To strengthen its position and better serve the customers, the company provides world class customer support through various regional consulting service providers. Some of the major partners of the company in this domain include Current Consulting, ITC Infotech and OPTIS Consulting.

    Read More
    • Enterprise
    • 501 to 1,000
  • 9

    Rosslyn Data Technologies plc provides a single platform to conduct detailed spend analysis, manage contracts, monitor supplier performance, and identify supply chain risks. Rosslyn Spend Analysis makes use of patent pending technologies built into the RAPid platform, to integrate, cleanse, and enrich raw data, so that it is always ready for analysis. The data is extracted from disparate legacy IT systems, using vendor certified connectors for SAP and Oracle, and aggregate it into one data set. Machine learning technologies are used to auto detect and correct data, and data can also be refreshed based on the client's preference. Rosslyn Data Technologies provides a large library of sources, which can be connected to the clients spend data, and pre-existing dashboards and reports can be used to analyze the data. Advanced line-item categorization can also be performed, so that the client can moderate every aspect regarding their purchases. Added features in the spend analytics offerings, such as self-service cleansing, self-service data classification engine, data enrichment apps, and report building functionalities help attract more customers. Rosslyn Data Technologies also has a dedicated support team to cater to customer queries and grievances.

    Read More
    • Enterprise
    • 501 to 1,000
  • 10

    Ivalua Procurement Solution comprised of spend management, contract management, sourcing, supplier management, invoicing and spend analytics solutions to organizations in large companies. These solutions are offered into a single package which enable the company to meet the diverse procurement requirements of the customers with faster speed and simplicity through centralized platform. The recent developments such as product innovations and new partner deals added 30 new customers to its customer base and expanded its presence in Asian region. Its strong and differentiated product offer flexibility and faster vertical integration, which attributed well client retention rate in the market.

    Read More
    • Enterprise
    • 501 to 1,000
    • Enterprise
    • 501 to 1,000
  • 12

    BravoSolution offers integrated strategic procurement platform to better manage their supply management and reduce risks. The BravoAdvantage Analytics enables the business users to extract actionable intelligence based on data BravoAdvantage platform and ERP and other systems.

    Read More
    • Enterprise
    • 501 to 1,000
    • Enterprise
    • 501 to 1,000
    • Startup
    • 501 to 1,000
    • Enterprise
    • 501 to 1,000
    • Enterprise
    • 501 to 1,000
    • Enterprise
    • 501 to 1,000
  • 18

    Empronc’s product, BAZ, is an enterprise spend process management product, comprising 20 modules, which help enhance productivity, compliance, and cost-saving, across organizations. Budget management, vendor management, contract management, catalogue management, and travel management are a few modules provided on BAZ.

    Read More
    • Enterprise
    • 501 to 1,000
    • Enterprise
    • 501 to 1,000
    • Enterprise
    • 501 to 1,000
    • Enterprise
    • 501 to 1,000
    • Enterprise
    • 501 to 1,000
    • Enterprise
    • 501 to 1,000
    • Enterprise
    • 501 to 1,000
    • Enterprise
    • New Jersey, US
    • Founded: 2004
    • Startup
    • California, USA
    • Founded: 2013
    • Below $10 MN
    • 101 to 500
    • Startup
    • California, USA
    • Founded: 2005
    • $11MN to $50MN
    • 51 to 100
    • SME
    • California, USA
    • Founded: 1997
    • $101MN to $500MN
    • 101 to 500
    • Startup
    • Ontario, Canada
    • Founded: 1984
    • Below $10 MN
    • 1 to 50
    • Startup
    • Illinois, USA
    • Founded: 2013
    • Below $10 MN
    • 101 to 500
    • Startup
    • California, USA
    • Founded: 2013
    • Below $10 MN
    • 101 to 500
    • Startup
    • Connecticut, USA
    • Founded: 2006
    • Below $10 MN
    • 51 to 100
    • Enterprise
    • California, USA
    • Founded: 1956
    • $500MN to $1BN
    • 1,001 to 5,000
    • Startup
    • California, USA
    • Founded: 2007
    • Below $10 MN
    • 51 to 100
    • Startup
    • California, USA
    • Founded: 2008
    • $101MN to $500MN
    • 101 to 500
    • SME
    • New York, USA
    • Founded: 1975
    • $101MN to $500MN
    • 1,001 to 5,000
    • Startup
    • Bracknell Forest, UK
    • Founded: 1987
    • Below $10 MN
    • 51 to 100
    • Enterprise
    • Pennsylvania, USA
    • Founded: 1993
    • $1BN to $5BN
    • 1,001 to 5,000
    • Startup
    • California, USA
    • Founded: 2012
    • $11MN to $50MN
    • 501 to 1,000
    • Startup
    • New York, USA
    • Founded: 2004
    • Below $10 MN
    • 501 to 1,000
    • Enterprise
    • Washington, USA
    • Founded: 2003
    • $500MN to $1BN
    • 1,001 to 5,000
    • Enterprise
    • California, USA
    • Founded: 1979
    • $1BN to $5BN
    • 10,001 to 15,000
    • Enterprise
    • California, USA
    • Founded: 1997
    • $5BN to $10BN
    • 5,001 to 10,000

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