Delivering More Value to Customers with Spend Matters’ SolutionMap | Sievo

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Delivering More Value to Customers with Spend Matters’ SolutionMap

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Let’s start with the good news: Sievo has been recognized by Spend Matters as a value leader in the very first SolutionMap for Spend and Procurement Analytics.

“We’re pleased to see that our long term commitment and continuous innovation in the field of Procurement Analytics has been noticed. We are grateful for our clients who took their time and participated to the survey to give their honest views on how they value us. We’re eager to bring even more value to you in the future and for sure take the feedback and findings from the SolutionMap as an opportunity for further development. This is also the first time we have seen an analyst company taking a closer look at the best in breed players in the procurement domain in details and not just considering Full Suite players as only contributors in the field – thank you Spend Matters team for your wonderful work.” – Johan-Peter Teppala, CEO Sievo Inc.

Spend Matters Solution Map Spend Analytics - Sievo

The SolutionMap is a result of months of meticulous analysis by Spend Matters. Procurement solution vendors have been asked to submit detailed information for review by expert analysts and perhaps more importantly Spend Matters have also asked actual customers to rate vendors anonymously. The awesome thing about the SolutionMap is that we vendors don’t get to vet or even see the customer feedback. The results are honest customer views that we can benchmark against other vendors. More importantly, the results of the SolutionMap can be used to bring more value to our customers.

At Sievo we care deeply for the honest views of our customers, and the SolutionMap has been an opportunity for lively discussion and debate. The results reflect some positives and a couple areas for improvement.

Positives of the SolutionMap :

  • Sievo’s customers were among the most active respondents to the survey across all vendors. For our own customer success it’s important that we got a balanced view of as many of our customers as possible.
  • Sievo is a value leader for 4 out of 5 and procurement analysis buyer personas. It’s reassuring SpendMatters acknowledges that Sievo brings value to a broad set of customer use cases and types of customers.
  • To some people it is just the category name, but at Sievo we’ve long been advocating the greater opportunity on procurement analytics. We’re delighted that the our focus of our category is no longer just ‘spend analysis.’ Sidenote: Jason Busch shared a bit more detail in the launch of SolutionMaps, in his words “Spend analytics is expanding to broader ‘supply’ analytics in more advanced procurement organizations. Technology that supports spend analytics efforts includes spend classification, broader data layer support, reporting, report building, scorecarding and benchmarking and out-of-the-box functional reporting — and more.” We hear you, Jason!

Areas for improvement :

  • While Sievo was among the very best spend and procurement solution providers, Spend Matters did not identify a definitive value leader. It’s now up to us and our peers to up our game for future results.
  • We’ve also received very detailed feedback on specific areas for improvement. In some cases there is an opportunity for us to communicate our value in better ways, but in other ways we have clear areas to address in our product roadmap.

Overall, the SolutionMap has been a welcome new source of very actionable information. We’re delighted that Sievo were named as one of the first and few value leaders for spend and procurement analytics and we’re hungry to bring even more value to customers in the future.

Download your free copy of the Spend Matters SolutionMap for Spend and Procurement Analytics.

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