Scanmarket Tops Spend Matters 50 Providers to Know for 2020

Procurement industry analysts at Spend Matters have once again named Scanmarket among the 50 Best-In-Class software vendors in the procurement and supply chain industry. 

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Wednesday, June 3, 2020

Procurement industry analysts at Spend Matters have once again named Scanmarket among the 50 Best-In-Class software vendors in the procurement and supply chain industry. 2020 marks the 6th consecutive year of Scanmarket's inclusion on the 50 Providers to Know list. What does this mean to you as a busy procurement professional? It means that Scanmarket is a tested, vetted, and trusted strategic sourcing platform that has earned its place as an innovator in both technology and customer focus. 

The 50 to Know and 50 to Watch listings represent the best of the best for commercial providers that serve enterprise level procurement organizations. This is not a pay-to-play contest. It is real research conducted by procurement industry experts. Vendors listed are independently selected by the analyst team over multiple rounds of debate, focusing on factors such as innovation, market presence, tech competency, and solution delivery.

Who is Spend Matters?

Founded in 2004, Spend Matters is an online publication that covers research, issues, trends, and topics that are important to procurement and supply chain industry professionals. Founder Jason Busch is one of the world’s leading experts in procurement, finance, and supply chain technologies. His insight and commentary is highly regarded as no-nonsense and objective. In fact, Jason once said that “Scanmarket is the market’s best-kept procurement secret.

Scanmarket is regularly included in Spend Matters’ coverage. The Spend Matters Almanac is a procurement services provider directory that highlights vendors once a year. Their views are entirely independent and provide a range of analyst insights.

Spend Matters SolutionMap is released bi-annually and takes a unique approach to provider rankings incorporating both customer and analyst insights. You can input your organization’s buyer persona to find a solution that is mapped to your maturity level and needs. The result is a shortlist of procurement technology providers that are best fit for your organization.

Strong Customer References

We are proud of Scanmarket’s long history as a strategic sourcing provider. Founded in 1999, Scanmarket was one of the original strategic souring technology vendors on the market. A customer-centric approach has always been a defining characteristic of Scanmarket’s source-to-contract solution because if your team can’t get on board quickly, then you’re losing valuable market share. 

When we say, "get on board quickly," we're talking a matter of days, not months. Scanmarket’s cloud platform can go live in less than 48 hours, and what differentiates Scanmarket is the customer experience. A dedicated support team works with senior leadership and sourcing teams to define KPIs, create a project plan, and deliver on targets.

As part of this change management roadmap, Scanmarket uses a 10 step project-based learning approach. This means that your team trains on real life sourcing events rather than hypothetical experiences. With large portions of the workforce working from home, cloud technology is more important than ever especially when it comes to visibility with your suppliers, contracts, and managing your remote teams. 

As Jason mentions in his analysis, Scanmarket has strong customer references in areas of sourcing capabilities that matter. In the SolutionMap benchmark from Q2 2020, Scanmarket exceeded averages in a number of key areas:

  • Meet the Expectations
  • Quick Deployment
  • Return on Investment
  • Total Cost of Ownership
  • Business Value

Scanmarket remains true to its roots as a strategic sourcing provider and provides advanced capabilities especially with regard to RFx and auctions, but also opportunity analysis, supplier relationship management, and sourcing performance evaluation. With over 20 years of experience providing strategic sourcing software, Scanmarket has been "battle-tested in the market across auctions, RFx and other events,” as Jason puts it. And, we have over 350 happy customers that can back up that claim.

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