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SPARK Matrix™: Spend Analytics, 2022

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Quadrant Knowledge Solutions’ Spend analytics market research includes a detailed analysis of the global market regarding short-term and long-term growth opportunities, emerging technology trends, market trends, and future market outlook. The study provides a comprehensive market forecast analysis of the global market and the overall market adoption rate as well. This research provides strategic information for technology vendors to better understand the existing market, supporting their growth strategies; and for users to evaluate different vendors’ capabilities, competitive differentiation, and market position.

The research includes detailed competition analysis and vendor evaluation with the proprietary SPARK Matrix analysis. The SPARK Matrix includes ranking and positioning of leading Spend Analytics vendors with a global impact. The SPARK Matrix includes an analysis of vendors, including Anaplan, Coupa, GEP, Ignite Procurement, Ivalua, McKinsey (Orpheus), Microsoft (Suplari), Rosslyn Data Technologies, SAP (Ariba), Scanmarket, Sievo, Simfoni, Spend HQ, Synertrade, Xeeva, Zycus.

According to Sujan Thomas Mathew, Analyst at Quadrant Knowledge Solutions, “As procurement increasingly becomes a strategic function, spend analytics solutions are evolving into a completely embedded solution within a larger, seamlessly integrated, native, and intelligent procurement solution suite that provides native, comprehensive, easy to use, AI-augmented capabilities. Leading vendors are developing new and innovative ways to engage and collaborate with an increasing number of stakeholders in order to perform data enrichment for machine learning algorithms that will bolster a forthcoming standalone intelligent spend management solution.”

According to KUMAR ANAND, Analyst at Quadrant Knowledge Solutions “The spend analytics market is constantly evolving, driven by the increasing maturity of AI, machine learning, advanced analytics, and robotic process automation”. Kumar continues. “ML and AI can significantly improve an organization’s end-to-end procurement performance, from robust data collection to data cleansing and transformation, predictive analytics to provide granular insights on spend, robust data discovery from contract repositories, automated execution of various e-sourcing and procure-to-pay processes, and other processes.”

2022 Spend Analytics SPARK Matrix

Source: Quadrant Knowledge Solutions

Table of Contents

Executive Overview

  • Key Research Findings

Market Overview and Technology Trends

Factors Influencing Technology Development and Market Growth

Market Adoption Trends

Competition Landscape and Analysis 

  • Competitive Overview and Analysis
  • Key Competitive Factors and Technology Differentiators

SPARK Matrix™: Spend analytics market

Vendor Profiles

Research Methodologies

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