RFP360 debuts on Spend Matters’ Sourcing Solutions Rankings (SolutionMap) As A Value Leader
RFP360, the leading provider of cloud-based RFP request management software, has been named a value leader in Spend Matters’ Spring 2022 SolutionMap for Sourcing.
RFP360, the leading provider of cloud-based RFP request management software, has been named a value leader (strongest in both analyst and customer scores) in Spend Matters’ Spring 2022 SolutionMap for Sourcing rankings for the SME persona (revenues less than $100M/year). SpendMatters also recognized RFP360 as a customer leader for MID and LARGE personas (revenues $100M-$1B/year and greater than $1B/yr respectively).
Spend Matters takes the following assessment elements into account during their ranking process: all elements of a technology, integrations, supplier experience and front-end users’ and administrators’ user experience. RFP360 received strong analyst and customer scores and rated high in scalability.
“Since becoming a part of RFPIO almost a year ago, our business division has thrived,” said Beau Wysong, vice president of global marketing for RFP360. “The additional expertise, resources and vision that we’ve been able to tap into has elevated our solution, enhancing what we’re already known for — an outstanding user experience. Being included in Spend Matters’ SolutionMap is an exciting, important validation for us.”
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In addition to being well-placed in the SolutionMap, RFP360 also featured prominently in bubble size calculations. According to Spend Matters, bubble size calculations consider market scale based on the global number of customers, the number of full-time employees focused on the relevant solution and revenue per customer for the relevant solution.
“I think our placement says a lot about our present offering but also our future opportunity,” said Wysong. “There’s so much excitement around where our request management product is headed, because of the investment RFPIO has made on the procurement and sourcing side of the RFx process.”
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Regarded as the “most rigorous, data-centric functionality assessment of procurement technologies,” Spend Matters continuously evaluates 500-plus requirements and updates SolutionMap every six months. Customer feedback also factors into the rankings.
“We set out to develop a highly configurable ranking of sourcing solution provider capabilities to reflect persona-based customer requirements, quarterly market developments, peer reviews and innovation. SolutionMap is the culmination of our efforts. No two procurement organizations are the same, and often selecting the right sourcing provider doesn’t come down to technological capability alone,” said Jason Busch, founder and lead research analyst at Spend Matters. “That’s why SolutionMap rankings are based equally on demonstrated solution capability and input from real-life customers.”
