SpendHQ Spend Intelligence Solution Advances to Value Leader in Spend Matters’ Fall 2022 Solution Map
Procurement teams can use these rankings to shortlist spend analytics provider evaluations
SpendHQ, the best-in-class provider of Spend Intelligence and Procurement Performance Management solutions, announces that it has advanced to the “value leader” quadrant of the spend analytics category in Spend Matters’ fall 2022 SolutionMap ranking.
The value leader quadrant includes vendors who rank high on both analyst and customer scores. Most recently placed in the spend analytics’ customer leader quadrant in spring 2022, SpendHQ’s solution saw increases in its analyst scores based on expanding product capabilities and enhancements. Nineteen other spend analytics providers were evaluated for the category.
Spend Matters applied SpendHQ’s standing as a value leader to all three of the study’s procurement organization personas: Large multinationals (over $1 billion in annual revenue); Upper mid-market ($100 million to $1 billion in revenue); and small to mid-sized enterprises (less than $100 million).
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“We are extremely honored to receive this ranking from the experts at Spend Matters, as they have recognized the ongoing product advancements we make to our SpendHQ Spend Intelligence platform”
“We are extremely honored to receive this ranking from the experts at Spend Matters, as they have recognized the ongoing product advancements we make to our SpendHQ Spend Intelligence platform,” said Jason Bray, chief technology officer of SpendHQ. “Over the past year, we continued to deliver to our clients additional value to improve their data processing speed and scalability, automation of spend insights, additions of benchmarking for supplier diversity, ease of use, security, and customer support.”
SpendHQ was also included in Spend Matters’ 50 Providers to Know list published in October 2022, for which their lead analyst and futurist, Michael Lamoureux, noted about some of the product capabilities: “SpendHQ’s new Category Dashboards provide some of the deepest insights you’ll find out-of-the-box in any spend management platform, period. The built-in comparison and what-if capabilities allow for actionable decisions to be made using the spend analysis application. Plus, the incorporation of constantly updated category averages and savings averages allow for the identification of the categories with the best, current market opportunities for sourcing.”
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SpendHQ’s recent acquisition of the Per Angusta Procurement Performance Management platform provides even more innovation for customers to rapidly turn spend analytics into new procurement initiatives, improve savings and non-financial performance, and continuously optimize their planning-to-execution cycle. Per Angusta was also named to the 50 Providers to Know list last month.
This Spend Matters SolutionMap release covers 74 procurement vendors across 10 categories in the source-to-pay solution landscape. Known as the most rigorous, data-centric functionality assessment of procurement technologies in the industry, SolutionMap contains 500+ RFI requirements to pinpoint the actual capabilities of each participating vendor, and the process also reviews customer reference surveys and product demos. SolutionMap is refreshed and published every six months to reflect solution updates. Since its launch in 2017, SolutionMap rankings have been consulted more than 270,000 times by procurement professionals.
