You will find no shortage of advice from technology providers on how to choose your strategic sourcing platform and its component solutions. Unfortunately, this advice often boils down to “Pick me, pick me!” while burying you in functionality comparisons, case studies and other marketing fluff.
At Scanmarket, we do things a little differently. Having been a leading strategic sourcing platform for 15+ years means that we have a unique perspective on the market, functionalities, providers and, most importantly, customer needs. What we have found is that having a clear (and agreed-upon) list of the most important factors for your organization is the best way to choose a solution that will work well for you over time.
To that end, we’ve put together the Top 5 considerations we would take into account when evaluating and selecting a strategic sourcing platform:
The specific way you measure each of these will depend on your unique needs. Our strongest advice is to spend the necessary time upfront to understand what you need in each of these areas before engaging the sales teams of the different providers. It is seldom advisable to use the “free” RFP templates that some providers will give you. It will surprise no one to discover that these templates were designed to favor a particular solution, not your needs.
As you’ll see from our current webcast series, each of the modules in a Strategic Sourcing platform (e.g. eRFx, Contract Management, Spend Analysis, etc.) can be looked at independently. This may be the right approach for your specific solution, but you’ll also want to be able to evaluate the entire platform so that your organization can “grow into it”.
Remember, choosing a strategic sourcing solution is a high-stakes process that can become complicated, cumbersome and difficult. It also really matters if you’re going to meet your goals…
Easy. Proven. Results.