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The Gartner eProcurement Market & Vendor Landscape

September 2011 saw the release of the highly influential and authoritative eProcurement Market and Vendor Landscape report from Gartner, the world's leading information technology research and advisory company.

Wax Digital is proud and excited to have been assessed in the Gartner eProcurement Market & Vendor Landscape Report, comprehensively outscoring our competitors across the 11 key criteria evaluated in the report.

Wax Digital scored highly in what are widely regarded as the two most important individual criteria, outlined below:

Assessment Criteria: Scope Breadth

What does it mean?
Scope Breadth refers to the degree to which customers have been successful leveraging their eProcurement solutions to support multiple types of spending. The wide variety of spending categories that can be enabled by an e-procurement solution includes e-catalog items, internally stocked items, milestone-based services and free-form text purchases. Some organizations also use an e-procurement solution to purchase direct materials.

Why is it important?
Most organizations implement an eProcurement solution in the hope of managing the majority of their indirect spending through it, and often build their business case assuming they will be successful in this endeavour. In reality, the percentage of indirect spending through eProcurement solutions varies widely. More than half of the Gartner respondents have 50% or less of their total indirect spending handled by their e-procurement solution.

Assessment Criteria: eRequisitioning

What does it mean?
The heart of the eProcurement application is its self-service e-requisitioning capability. This rating element focuses purely on the features that are most commonly used and requested, as compiled over the past five years through Gartner client inquiries.

The capabilities range from basic features like PO creation and desktop receiving to budget encumbrance, configurable user dashboards and integrated request for quotation.

Why is it important?
E-requisition support is important, because this capability enables non-procurement professionals to efficiently request goods and services on their own. E-requisitioning functionality should be configured to capture cost center data for accounting, create an audit trail of activity, make management approvals easy, verify receipt and tie proposed expenses to the budget.

It is therefore perhaps the key measure of success of any eProcurement system, in combination with Scope Breadth above, in determining how effectively a solution can be deployed across all spend and all user types.

According to Gartner....

The Gartner eProcurement Market & Vendor Landscape report also features market observations by leading analysts, Deborah R Wilson and Nigel Rayner.

"eProcurement solutions can deliver 100% savings by halting and/or redirecting unnecessary expenditure"

"A final observation about the eProcurement market is the increasing desire of prospective buyers to favour vendors that offer related, natively integrated solutions in a broader suite "

Notes on Methodology

Vendors were assessed on 11 key elements, compiled from hundreds of eProcurement inquiries with end user clients fielded by Gartner over the past five years. The areas assessed represent the capabilities and attributes prospective buyers request most.

Of more than 60 candidates considered for inclusion, only 32 met the criteria for a full rating in the report, being able to demonstrate the requisite:

Size
Growth
Innovation
Product ownership
Punch-out support
References
Scope

Qualifying vendors completed a very detailed survey in the spring of 2011 on what features and capabilities they currently offer and from March through July 2011 Gartner conducted reference calls and solicited detailed reference survey input in order to formulate the final report and scores.

Wax Digital's Conclusions

Uk No1 Our review of the Harvey Ball chart used in the Gartner eProcurement Market & Vendor Landscape Report places wax digital as the UK's No1 eProcurement Vendor and Top 5 Worldwide.

Put the UK No1 to Work for Your Organisation

Wax Digital web3 delivers highly intuitive web-based spend management, with a focus on ‘people powered procurement’ that ensures users at every level – both inside and outside your organisation - can quickly and easily engage.

The result is a better purchasing and supplier experience, dramatically improved control, compliance and visibility of spend across the organisation, and ultimately significant cost savings that feed straight to the bottom line.

If you’d like to find out more please get in touch today - we’d be delighted to show you what makes us No 1.