Best-Of-Breed Solutions Provide Real Value To Improve Your Purchasing
Sourcing technologies play a critical role in any enterprise. They help businesses source, buy, and manage the goods and services that they use to win, serve, and retain customers. To explore the current landscape of eSourcing tools, Forrester received vendor briefings from more than 60 companies that provide ePurchasing products.
In this March 2017 report, Forrester covers the key trends and leading vendors (including Scout RFP) in the eSourcing space. Key takeaways include:
- SaaS has become the dominant deployment model for best-of-breed products Demand is growing for tools, with 2016 and 2017 growth shifting into double digits. Software-as-a-service (SaaS) is the most common deployment model in eSourcing. New eSourcing products with improved usability for business users, like Scout RFP, may well be better candidates than the old-line eSourcing tools in use today.
- Specialists offer strong usability, functions, and industry or geographic knowledge Specialized tools can offer best-of-breed solutions that are easy to use, feature sophisticated functions, and can be adapted to specific industries, countries, or regions — something that suite vendors can’t match. Scout RFP, which combines eSourcing with related applications and greater ease-of-use of SaaS apps, has proven a very attractive option to sourcing and vendor management teams.
- New entrants innovate and push existing vendors to match their pace of invention New vendors are shaking up each sourcing with new features and functions, especially around usability. The real potential for eSourcing lies with adoption by line-of-business executives. Scout RFP is starting to change the dynamics in eSourcing, with its differentiation on usability, which has helped it acquire over 90 customers in less than two years. Scout RFP’s success is forcing other eSourcing vendors to rethink their usability.
For eSourcing specifically, Forrester's top tip is to look for new options that line-of-business users can use. Download the full report to find out how the right product delivers real value in the age of the customer.