Navigating the vast world of procurement technology can be overwhelming. Especially when you’re trying to identify the right tools for your specific needs. At Procurement Software, we’ve developed a suite of Tech Maps to help streamline this process and provide you with a clear, visual representation of the procurement tech landscape.
In this blog, we’ll walk you through how these Tech Maps can support your research, what’s included, and how to make the most out of these resources.
What Are Procurement TechMaps?
Our Tech Maps offer a concise, one-page overview of the various procurement technology companies segmented by different categories. These maps are designed as a starting point for your research journey, not as a final endorsement or validation of any particular solution.
They serve to help you quickly visualise and understand the array of tools available, allowing you to narrow down your choices before diving deeper into your research.
The information compiled on our Tech Maps is based on years of market research and industry knowledge, meaning it’s reliable and crafted by real experts. This is not AI-generated content. It’s built through hands-on research. We’ve done the legwork to ensure the maps are practical and informative.
What criteria did we use to include solutions in a Tech Map?
To appear on our TechMaps, a provider must meet the following essential criteria:
- Standalone SaaS: The solution must be a standalone Software as a Service (SaaS) product. We don’t list solutions which are bundled with consultancy or training services. A software solution must be stand-alone as a product.
- Beyond MVP: The software must have surpassed the minimum viable product stage and have active paying customers.
- Procurement-Focused: The solution must directly serve the procurement space. Tools primarily aimed at other business functions, such as HR or finance, are generally excluded. The exception is if they have significant crossover, such as contract management or fraud detection tools.
Additionally, we consider solutions from related sectors, such as FinTech products that help manage working capital or invoice consolidation tools, which can benefit procurement professionals.
Exploring Our TechMap Categories
We’ve released four distinct Procurement Tech Maps, each tailored to different business sizes and needs:
SME Tech Map
- Targeted at businesses with annual revenues below $50 million. These solutions are ideal for small-to-medium enterprises looking for affordable, scalable options.
Mid-Market Tech Map
- Designed for companies with revenues between $50 million and $1 billion. This map includes more robust, solutions suited for growing businesses that need to optimise procurement processes. These software solutions are not priced with large corporate organisations in mind.
Enterprise Tech Maps
- Divided into two categories for clarity (because we couldn’t fit all of the logos onto one page, without it looking crowded!)
- The first covers business spend management, finance, and contract management solutions
- The second focuses on all other technology which does not fit into the spend management, finance & payments and contract management space. This includes spend analytics, SRM, third party risk & compliance, ESG, as well as niche category specific tools for both direct and indirect categories.
How to Make the Most of Our Tech Maps
Our Tech Maps provide a top-of-funnel look at all of the available procurement tech solutions in a particular space.
It doesn’t mean that we’ve seen demos of all of them. And, it certainly doesn’t mean that we’ve individually vetted every single one.
Inclusion on our Tech Map does not signify an endorsement of any particular software product by us here at ProcurementSoftware.site.
The objective we set out to achieve is to give you a quick and easy glance to be able to capture every solution that’s out there on the market.
Now begins the hard work. It’s time to figure out which is the best fit for your particular challenges and type of business. We can help you here for sure, but you’re not going to get the answers you need from a simple PDF download.
You need to do due diligence on the market and understand what each product has in terms of features, pricing model and integrations. Which industry sectors are they predominantly selling to, and in which geographies? These are the nuances that you’ll need to understand.
How to choose the right procurement tool for your needs
There are a few ways we can assist you on your journey.
I’ve outlined four possibilities below. These range from free to the most hands-on (and thus the most expensive).
We don’t offer free consulting, simply because it’s not fair on our clients who pay us for our services. If you don’t have a budget, I put out a LOT of free content on this blog, as well as on our podcast and on LinkedIn.
Free Software Search:
Use the free text search feature in our Software Finder database. You can explore details for each individual software solution such as modules & functionality, target customers, and target customer. Just type in the name of the software you’re interested in.
You may need to do a broader search first, e.g. for S2P or Contract Management software, and then click on “Learn More” for each specific software profile.
Power Hour Call:
For more personalised advice, book a Power Hour with me, James, the Founder of ProcurementSoftware.site. This one-hour session offers tailored guidance on the right solutions for your business. After the call, you’ll receive a curated download of relevant options from our extensive database.
I’m raising the price of these hourly sessions soon, so get in there quickly to lock in the current rate!
Database Access:
If you need comprehensive research, consider subscribing to our database.
We offer a three-month access Silver package for practitioners who need the data for a specific, time-bound project.
A Gold annual subscription is best for consultancies or businesses engaging in long-term digital procurement transformation.
White Glove RFI as a Service:
Short on time or internal resources?
Our RFI as a Service takes care of the entire process—from gathering information and demos to conducting due diligence. We provide a shortlist of solutions that match your needs, streamlining your selection process.
The price is based on your specific needs. Pricing starts at €3,995 for a straightforward requirement and a clear, concise scope of work which is easy for us to interpret. Please schedule an intro call for this, so as I can get a better feel of whether we would be a good fit to help you.
For example, are you a large, corporate organisation with 30 pages of supplier onboarding forms full of irrelevant questions? We’re evidently not a good fit. Talk to the big analyst firms or consultancies instead.
On the other hand, if you’re a fast growing business or an established, mid-market company with a can-do mindset and a wish to transform your procurement into a digital powerhouse, then we can definitely help you.
I’ll also be able to give you a better estimate of costs.
Conclusion: Leverage the Power of our Tech Maps
Our Procurement Tech Maps make the initial stages of your procurement software search simple and efficient.
Are you just getting started, or are ready for in-depth research? Our solutions guide you every step of the way.
Visit our store to download your free, print quality PDF copy of the Tech Maps.
Therefore, if you’re looking for personalised advice or need more extensive research, don’t hesitate to contact us for further guidance.
We look forward to supporting you on your digital procurement journey!
