Xeeva, a leader in AI-powered spend management and procurement solutions serving hundreds of locations and enterprises worldwide, is excited to announce inclusion into the Quadrant Knowledge Solutions 2022 Spark Matrix Report as a Technology Leader in the market.
- The Quadrant Knowledge Solutions SPARK Matrix™ provides competitive analysis & ranking of the leading Spend Analytics platform vendors.
- Xeeva, with its comprehensive technology and customer experience management, has received strong ratings across the parameters of technology excellence and customer impact.
Quadrant Knowledge Solutions announced today that it has named Xeeva as a 2022 technology leader in the SPARK Matrix analysis of the global Spend Analytics market.
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The Quadrant Knowledge Solutions SPARK Matrix™ includes a detailed analysis of global market dynamics, major trends, vendor landscape, and competitive positioning. The study provides competitive analysis and ranking of the leading technology vendors in the form of its SPARK Matrix. It gives strategic information for users to evaluate different provider capabilities, competitive differentiation, and market position.
According to Sujan Thomas Mathew, Analyst, Quadrant Knowledge Solutions, “Xeeva offers data and AI-driven spend management solutions that help organizations efficiently manage and optimize end-to-end spend processes from a unified interface through its Xeeva Spend Analytics platform. Xeeva Spend Analytics enables organizations to capture documents, quotes, communications, pricing, POs, and receivers from a single location. Additionally, the platform allows organizations to seamlessly gain valuable spend insights, and accurately and granularly analyze the data to make informed decisions.” Sujan adds, “With its ability to cater to diverse use cases, robust product strategies and roadmaps, and strong industry expertise, Xeeva has received strong ratings across the parameters of technology, excellence, and customer impact and has been positioned amongst the leaders in the SPARK Matrix: Spend Analytics Platform, 2022.”
Quadrant Knowledge Solutions defines a spend analytics solution as “an application that automates the collection, transformation, analysis, and enrichment of a company’s end-to-end procurement spend data.” The solution reduces end-to-end procurement spend, reduces contract compliance risks, assists in making appropriate sourcing decisions, tracks and benchmarks spend performance, and improves visibility of expenditure data, resulting in improved supplier relations and increased productivity.
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“We are pleased to be included as a Leader in Quadrant Solutions 2022 Spark Matrix report. This industry recognition helps to showcase the comprehensive and robust Spend Analytics solutions we offer our clients and validates the incredible AI driven platform our team has built to serve our customers by helping them achieve Better Data, leading to Better Insights and ultimately realize Better Outcomes such as increased bottom-line revenue.“ said Nina Vellayan, CEO Xeeva, Inc.
As procurement becomes more of a strategic function, a spend analytics solution is evolving into a completely embedded solution within a larger, seamlessly integrated, native, and intelligent procurement solution suite that provides a native, comprehensive, easy to use, AI-augmented procurement solution. Leading vendors are developing new and innovative ways to engage and collaborate with an increasing number of stakeholders in order to perform data enrichment for machine learning algorithms that will provide a standalone intelligent spend management solution.
