Milan, November 2nd, 2021
On November 2nd, 2021, Spend Matters®, a leading US-based solution intelligence source for procurement and supply chain professionals in the world, published its 2021 Fall edition of the SolutionMap, which saw SupplHi made an outstanding positioning across all Personas, ranking among the best Value Leaders in the “Supplier Relationship Management and Risk” (SXM) category.
Spend Matters SolutionMap, published twice a year, is a visual framework to compare and rank the best upcoming technology advancements in the procurement field, and it aims to identify the best-fitting solution, according to the customers’ needs and the providers’ capabilities.
As it can be seen in the picture below, in this edition, SupplHi scored a result as best Value Leader in the “Supplier Relationship Management and Risk” category for both the SME (revenues < $250M/year) and the MID personas (revenues $250M-$1B/year) and it’s a Value Leader for LARGE persona (revenues >$1B/year).
THE SOLUTIONMAP METHODOLOGY
Known as the most rigorous, data-centric functionality assessment process in the industry, Spend Matters explains the methodology of its SolutionMap as “containing 600+ RFI requirements across 10 source-to-pay module and suite technology categories”, creating the perfect tool to allow procurement professionals “to comprehensively benchmark available solutions against their own buying needs using the persona-based approach, as well as to pinpoint the actual capabilities of each participating vendor”.
To better appreciate what the SolutionMap actually indicates and the reason why SupplHi obtained this positioning, it is important to understand the logic behind it.
– The latest edition of the Map is an updated version of the previously published ones and used new questions to account for recent innovations and updates and better reflect which capabilities are “industry standards” versus “best-in-class”.
– The positioning on the chart is the outcome of several inputs, among which are an in-depth questionnaire comprising both the vendors’ self-assessments and Spend Matters evaluations, and surveys filled in by the customers currently using the procurement technology under evaluation.
– The two axes in play represent the analysts’ score of the vendor’s solution (the Y axis) and the customer survey score of the vendor (the X axis), meaning that the higher the scores in these two areas, the better the final positioning gets.
– Moreover, the color of the bubbles varies according to the number of customer references taken into account for the evaluation of the procurement technology provider, while the size of the bubble indicates how many customers a provider has in that particular SolutionMap area.
To achieve placement in the Value Leader quadrant, solution providers like SupplHi achieved above average scores from both the analysts as well as from the customer feedback.
“The outcome of the SolutionMap is a milestone in the path we set our minds on: to allow companies from all over the world to implement their supplier base management processes in the most efficient and compliant way, in accordance with the best international market practices, and in a way that facilitates the B2B world. The Team and I are proud of this result and look forward to keep on improving our services” said CEO & Founder Giacomo Franchini after the 2021 Fall edition SolutionMap of Spend Matters was published.
To SupplHi, this is a special recognition, as it shows appreciation and understanding of the potentialities of our innovative Vendor Management platform for Industrial Equipment and Services, therefore we would like to extend our thanks to the hardworking and committed Spend Matters team for giving SupplHi this chance. Moreover, we would also like to thank our Customers, without whose references and continuous feedback we would not have managed to achieve this score.
SupplHi was previously named among the 50 Providers to Watch in digital procurement in 2021 following a rigorous evolution process performed by Spend Matters Analysts through several rounds of debate focused on factors such as growth, innovation, tech capabilities, solution delivery, and market presence.
2021 has proven to be a year with important moments of recognition of the work done so far by SupplHi, such as being enlisted among Spend Matters’s 50 to Watch list, being selected for SAP.iO Foundry Sustainability in Energy & Natural Resources Fall 2021 accelerator program and now ranking among the best Value Leaders across all main personas in Spend Matters SolutionMap, for the “Supplier Relationship Management and Risk” category.
ABOUT SPEND MATTERS
Spend Matters is a global content community and hub with over 15years of existence in the procurement sector. The target audience are procurement, finance, treasury, and supply chain professionals who need the latest information on technology and the future of the ever-expanding digital world.
Spend Matters is the one-stop solution for procurement professionals looking for a global coverage of the best-fitting procurement software and service vendors for their own requirements. The best words are those used by Pierre Mitchell, Spend Matters Chief Research Officer, according to whom the SolutionMap “enables apples-to-apples comparisons between solutions that may look like varying fruits and vegetables to even advanced procurement, finance and supply chain organizations. We have done the hard work of abstracting demonstrated functional and platform capability to help organizations to see ‘what’s real and what’s not,’ even if they aren’t technical experts themselves.”
SupplHi is the Vendor Management SaaS for industrial equipment and services, chosen by the most demanding buyer organizations of all sizes to manage their vendor base efficiently and compliantly.