For several years now, Spend Matters has been collecting and publishing a series of articles about procurement, supply and services trends for the year ahead from expert tech and service providers in the market. In no order of preference, other than by the date they arrived in our inbox, today let’s hear from Richard Hogg, CEO at Vizibl, a provider of supplier management solutions and one of Spend Matters 50 Procurement Providers to Watch.
For several years now, Spend Matters has been collecting and publishing a series of articles about procurement, supply and services trends for the year ahead from expert tech and service providers in the market. Today let’s hear from Aylin Basom, CEO of Supplier.io.
Cost reduction and value creation have ballooned in importance of late for the procurement professional, and the most direct method for addressing both is to increase the efficiency and efficacy of procurement via the adoption of dedicated source-to-pay and/or spend management platforms. This is why, when participating in
Continuing our series of analyst observations on procurement tech market movements, this week we are considering how technology serves as an enabler for procurement to expand from purely occupying a savings role to an orchestrating one.
Each week our analysts turn their eye to the procurement tech trends they are observing in the marketplace. This week, we discuss a growing need for, and evolution of, contract analytics and ‘actionable insights.’ The trend for greater contract analytics in contract management solutions is seen most widely in the offerings of the newer providers that go beyond the expected features to give 'actionable insights.' Contract management and contract analytics can be described as extensions of contract lifecycle management (CLM). As our dedicated analyst Nikhil Gaur puts it: “The traditional goal of contract management solutions is basically to track contracts, have a unified place to keep and retrieve them and to get renewals done. But Procurement has access to all sorts of data within that repository of contracts. This data (statistics, graphs, financial terms, etc.) allows you to be more proactive and identify areas where you could find opportunities, save money or add ext