ePurchasing products today are mandatory to enabling businesses and governments source, buy and manage the goods and services they require to continue serving customers. As such, ePurchasing software today have evolved to meet the new challenges of modern organizations. Designed to help CIOs understand the value of standalone solutions, Forrester’s March 2017 report, Vendor Landscapes: eProcurement, eSourcing, eInvoicing, And Spend Analysis 2016 To 2017 highlights the vendor landscape that exists for individual products in the space. Forrester noted in the report that they had received briefings from more than 60 companies in an 18-month period
Our key takeaways from the Forrester Report:
- Software-as-a-service (Saas) is the most common deployment model in eSourcing and spend analysis; similar trends in eProcurement and eInvoicing are underway.
- While many firms are acquiring ePurchasing products that are part of suites, there’s still a demand for best-of-breed ePurchasing tools: stakeholders beyond the CPO may have their own requirements; specialist vendors can offer features that suites lack; and firms may simply replace existing products on a need by need basis.
- In eProcurement, SaaS providers are replacing ERP vendors; although eProcurement products were often sold as attachments to the ERP system at heavily discounted price, deploying these were expensive and difficult to use. The result is that ERP vendors’ share will shrink compared to the previous years.
Finding the right ePurchasing tools can be a time consuming and exhausting. Finding a suite that appeals to internal stakeholders with distinct functions in the organization poses a serious challenge.
Among Forrester’s findings are the latest trends in ePurchasing as new entrants shake up the mature eSourcing category. In the eProcurement category, Saas vendors are challenging Oracle and SAP Ariba’s position and Ivalua, Coupa and other SaaS vendors are riding the rising SaaS tide. The report highlights trends in how vendors are offering ePurchasing suites, ranging eProcurement, eSourcing, eInvoicing and Spend Analysis.
Finally, the report offers a landscape of vendors in suite categories to help CIOs identify differentiators and choose a standalone solution that best fit their needs. The list varies from vendors offering new approaches to eSourcing to eSourcing specialists that combine sourcing and vendor management (SVM) with their usual suite offerings to expand share.
Read the full report here and see how Ivalua was recognized in Forrester’s Vendor Landscape.