RFP360, the leading provider of cloud-based RFP request management software and a business division of RFPIO, has been named a value leader in sourcing on Spend Matters’ Fall 2022 SolutionMap for the SME persona (revenues < $100M/year) and a customer leader for the MID (revenues $100M-$1B/year) and LARGE personas (revenues >$1B/yr). A value leader on the map means that RFP360 was strong with both analyst and customer scores, and a customer leader showcases that the company had strong customer scores.
“We’re excited to see this additional validation for RFP360,” said Beau Wysong, vice president of global marketing at RFPIO. “It reflects our commitment to providing functionality that adds immediate value for organizations of all sizes. Not only does our integrated software accelerate and simplify the strategic purchasing process, it also helps buyers to ultimately make better buying decisions based on data.”
During the ranking process, Spend Matters takes the following assessment elements into account: all elements of a technology, integrations, supplier experience as well as the experience of front-end users and administrators.
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On the SolutionMap, RFP360 was also featured prominently in bubble size calculations. Bubble size calculations from Spend Matters represent solution-specific scalability based on customer count, global customer reach, full-time employees and revenue per customer. RFP360’s bubble color also indicated that it had the maximum number of customer references on the SolutionMap.
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“The sourcing market has far more to it than meets the eye,” said Jason Busch, Founder and Lead Research Analyst at Spend Matters. “Technology that supports strategic sourcing efforts includes supply base analysis, market analysis, category strategy, cost/value modeling, supplier discovery, supplier qualification/certification, and sourcing execution that includes multi-round RFx/bidding (including reverse auctions and bid optimization support for constraint modeling, scenarios, conditional/bundled bids, etc.), supplier surveys, risk analysis, bid analysis, contract negotiations/awarding and more.”