Contract Lifecycle Management (modeling, expiration / renewal, creation / authoring, collaboration, implementation, compliance and performance).Sourcing (project management, RFI/RFX/RFP, auctions and optimization, etc.).
Within what we describe as source-to-pay procurement solutions, Spend Matters evaluates six distinctive technology areas: Four of the top performing S2P suite vendors in the Q4 SolutionMap* functional benchmark are Coupa, Ivalua, Jaggaer and SAP Ariba. When it comes to overall suite functional performance in the Q4 2018 SolutionMap, a handful of suite vendors tend to stand out from the overall pack, often for very different reasons. The hierarchy comes from both the chart of accounts and the approval chains that need to be represented in the procurement system.Now more than ever, better choices exist at the top end of the market for source-to-pay technology suites. Notwithstanding that finance systems can be quite complex to integrate with or provide limited options for integrations, organisations also have the added challenge of having to model and integrate a hierarchy of data. It therefore needs to be integrated.Īlong with the ongoing changes to reference data, we need to manage approval chains and then handle the bulk of the integrated traffic in the form of invoices passing to the finance system and payments passing back to the procurement system. However this data is subject to change with new cost centres being set up periodically, suppliers removed, suppliers added, cost centre owners and budgets changing. We might view this as the standing data that supports the implementation of the procurement system. This includes suppliers, cost centres, nominal codes, commodity codes, budgets, approval limits and approvers. In order for the platform to be able to appropriately manage procurement, you essentially need to map your chart of accounts into the platform. Implementation generally entails in depth analysis, understanding and mapping of procurement processes to the selected software platform.
Being able to see both a community of suppliers for sourcing and trend data on what the buying community has procured gives the organisation far greater visibility into their procurement. SaaS vendors in the space generally have not just a software platform to support the process but also a platform of suppliers.
An S2P solution is typically deployed through the implementation of S2P or P2P software solutions.
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