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Gartner announces leaders in Strategic Sourcing Application Suite providers

Gartner, an American research and advisory firm, recently in the news for acquiring CEB for a whopping $2.6 Billion, released the Gartner’s Magic Quadrant for Strategic Sourcing Application Suites report for 2017. The report analyses Software Solution providers who provide modules for spend analysis, e-sourcing, contract management and supply base management. These providers have earned a minimum of $12 million in revenue and have offices on two or more continents among other qualifying criteria.

The evaluation criteria include ‘Ability to Execute’ (Vertical Axis) and ‘Completeness of Vision’ (Horizontal Axis). The former is a more of a qualitative assessment of products, processes, systems, methods and procedures based on survey input from the vendors and their reference customers.  The latter however is more of a quantitative assessment of vendors’ ability to grasp current and future market and technology trends, customer needs and competitive forces. Innovation and Product and geographic strategy hold a high weightage here.

The report has placed only three companies – Zycus, BravoSolution and Ivalua in the Leader’s Quadrant amongst the fourteen companies that qualified all the criteria. Also, Zycus scored the highest in the Ability to Execute while BravoSolution scored the highest in the Completeness of Vision. Coupa (Niche Players Quadrant) and POOL4TOOL (Visionaries Quadrant) were the new entrants while SAP Sourcing and Mercado Electronico were dropped from the list.

The report also presented the top three reasons for investing in a strategic sourcing suite as – transforming strategic sourcing, increasing productivity by automating strategic sourcing and delivering increased savings. You may access the report here.

The question you may ask now is – why should you tryst Gartner?

Well, recently in February, 2017, the Institute of Industry Analyst Relations (IIAR), a not-for-profit organization, released its Tragic Quadrant analysis. The IIAR Global Analyst Firm of the Year 2016 was announced Gartner. The runner ups were Forrester and IDC. The three criteria for the analysis were – Impact on the purchase decision, Relevance in the market and Interaction with the industry. More than 100 different individual organizations had responded to the survey. You may access the report here.

Securing a position in the Gartner’s Magic Quadrant is a proud moment for most vendors and they flaunt it off unapologetically on the front page of their websites. “We are honored to be recognized as a “Leader” in the Magic Quadrant,” said Aatish Dedhia, Founder and CEO, Zycus, Inc. on being included in the report for the first time in 2013. Zycus has since maintained its position. For the cynics, however, I recommend this article which should put to rest their doubts about the authenticity of the report.

Ciao.

Article submitted by:
Tushar Gupta
Marketing Division
Zycus Infotech

Should Dedicated Software replace your Spreadsheets?

Dedicated software, agreed, are expensive. They may even cause disruptions in your processes. They will require specialized training for your employees. Some non tech savvy ones might also dislike just the ‘idea’ of such a change. However, let’s look at some advantages that these software solutions bring along:

Cleaner Interface: A clean interface which is intuitive and easy to decipher at the first glance is what we all look for. It not only has visual appeal but also helps avoid mistakes. It does not require technical expertise to read data represented in form of tables and graphs which makes even the analysis of results an effortless task.
You may argue that graphs and analysis is all possible in MS Excel as well. Though, you’ll agree that finding the analysis’ rows and spotting the exact cells with results in an ocean of cells, is not so effortless.

Updating and Tracking: You may update dates and status on Excel Sheets every day and track them. However, having to share the updated sheets with people in multiple departments within the organization or with senior management is a tough task. Every employee involved in that sheet needs to maintain an updated copy, and God forbid if it has to be updated by multiple people, everyone is going to be lost in the versions of spreadsheets.
Dedicated software solutions, on the other hand, are centralized and multiple people updating is a piece of cake. They even maintain versions of the documents and a log of people making changes to them.

Resources Saved: Resources is not just hard cash spent but also the time spent on useless procedures which could have been used for more productive purposes. Assume that your request for a procurement order is pending with your manager. A mail for approval request needs to be sent and when he checks his mailbox is when he replies. Then you might have to attach that approval and forward to the supplier for dispatch. However, with a centralized system, your request can be approved in a matter of seconds as it is in the form of a notification in an app on your manager’s cell phone. The supplier gets to know the moment the request is approved and can ship the product. For savings in hard cash, go through this article once.

Artificial Intelligence: Advanced solutions today are powered by artificially intelligent algorithms. These can not only help automate your processes and remove manual interventions, but also give suggestions for process improvements and identify saving opportunities. It is rather impossible to have such capabilities with spreadsheets even with the use of Macros, after all it uses only Visual Basics and not advanced coding languages.

However, I would still recommend you to use this survey and check for yourself if you need a dedicated software solution or not.

Ciao!

Article submitted by:
Tushar Gupta
Marketing Division
Zycus Infotech