For the ninth year, Spend Matters releases its annual “50 Procurement Providers to Know” and “50 Procurement Providers to Watch” lists — and its annual “Future 5” list of innovative startups.
Each year, technology analysts assess the capabilities of procurement technology providers across 10 market sectors to determine a list of 105 vendors in total. These lists represent best-in-class solutions the industry needs to know and up-and-coming, growing firms to watch. 2022 also marks the fourth annual release of the Spend Matters “Future 5” list.
The lists are being released in conjunction with the SIG Global Executive Summit taking place Oct. 17 through 19 in Rancho Mirage, California.
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“We can’t wait to announce the 2022 lists at our Fall Summit. I know our delegates will love meeting these award recipients at the Summit as well,” said Geoff Talbot, Chief Growth Officer at SIG.
This year, 18 vendors were named new honorees to the ‘Watch’ list, and four jumped from Watch to Know – look for forthcoming interviews with AvidXchange, Everstream, Simfoni and Vertex.
Said Nick Heinzmann, Spend Matters VP of Research:
“Macro forces and shifting competitive dynamics are breathing new life into the procurement technology market — and some providers will ride the new wave better than others. From a volatile economic environment to geopolitical chaos and evolving regulatory frameworks, procurement is overwhelmed with issues it must keep on top of while delivering on its current portfolio of initiatives.
“In this context, more vendors than ever are developing new concepts or stepping across the boundaries of adjacent markets than ever before. To help make sense of what’s ‘real’ and how the next phase of this space will unfold, we’re pleased to present Spend Matters’ annual ’50 Providers to Know,’ ’50 Providers to Watch’ and ‘Future 5’ listees, sourced and calculated by the entire Spend Matters analyst team to represent the best of the technology providers that serve procurement, finance and supply chain organizations.
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“This year’s lists advance our methodology further, adding new criteria around mindshare in the market, expanded customer reference requirements and introducing new inclusion criteria to ensure the vendors on these lists are continuously earning the right for a seat at your negotiating table. Because in a market ripe with consolidation plays, plenty of new startups and big entrances from established (non-procurement) players, you need a data-based guide to where to focus your attention.”