Atlanta, June 2, 2022 – SpendHQ lands as a Customer Leader in Spend Matters’ most recent release of its SolutionMap benchmarking for Spring 2022. This release includes technology rankings that include 69 vendors. Known as the most rigorous, data-centric functionality assessment of procurement technologies in the industry, SolutionMap contains 500+ RFI requirements across 10 source-to-pay module and suite technology categories to pinpoint the actual capabilities of each participating vendor.
Hundreds of customer references were taken into account and validated by the Spend Matters team. SolutionMap is updated and published every six months to accurately reflect solution updates. Since its launch 5 years ago, SolutionMap rankings have been consulted more than 270,000 times by procurement professionals. SpendHQ has been ranked with above-average customer scores across all three SolutionMap Market Personas.
“Spend analytics is expanding to broader “supply” analytics in more advanced procurement organizations. Technology that supports spend analytics efforts includes spend classification, broader data layer support, reporting, report building, scorecarding and benchmarking, out-of-the-box functional reporting — and more. Spend analytics represents one of the early procurement technology implementations for artificial intelligence as well in select cases,” said Jason Busch, Founder and Lead Research Analyst at Spend Matters.
SpendHQ welcomes and appreciates the feedback from the customers and analysts who participate in the SolutionMap process. As a consistent participant in the Spend Matters’ SolutionMap series, SpendHQ has continued to make the rankings.
“Through regular client feedback, interviews, as well as our client advisory board, our SpendHQ team has truly put the client first by utilizing their input to drive updates and innovating new features to the platform,” said SpendHQ CEO Scott Macfee. “As a continued customer leader ranked by Spend Matters, we’ve already launched several new features this year like Insights, Connectors, and Self Service, with more announcements on the way.”
About Spend Matters — Solution Intelligence for Procurement
Spend Matters is the leading solution-intelligence source for procurement and supply chain professionals. Combining deep technology analysis and tailored advisory services with daily news coverage and subscription research, Spend Matters is trusted by CPOs, consultants, investors and solution providers alike as their procurement technology intelligence partner. Spend Matters is owned and managed by Azul Partners Inc.
SpendHQ is a procurement analysis solution that provides rapid, accurate, and detailed visibility into enterprise spend data. Built by sourcing professionals for sourcing professionals, this full-service SaaS spend analytics solution delivers actionable insight for every stakeholder. The SpendHQ platform and solutions team serves all industries, and clients include some of the world’s largest organizations.
SpendHQ has been recognized as an industry leader by Spend Matters’ SolutionMap, Ardent Partners’ Key Solution Providers, and Procurement Leaders’ World Procurement Awards.