Authored by Mickey North Rizza
As a 2015 present to businesses globally, Gartner has published their 2015 Magic Quadrant for Strategic Sourcing Application Suites. The ‘MQ’ as it is affectionately known, is perfectly timed for executives to find, short list, evaluate and select their Strategic Sourcing Application Suite Technology Provider in early 2015.
In my previous role as Supply Chain Research Director with Gartner, I came to appreciate the time, dedication and sheer hard work that goes into producing the MQ. Months of in-depth vendor interviews and product reviews coupled with endless customer references go into presenting an accurate map of industry leading vendors at that point in time.
The ‘magic’ of the MQ is that it evaluates technology players within a given market, in this case Strategic Sourcing Application Suite providers, by plotting the provider’s “ability to execute” against their “completeness of vision” in a 2x2 matrix positioning them in the leaders, visionaries, challengers or niche players quadrant.
With each MQ, the decision analysis for procurement and sourcing teams has been done, giving businesses a jumpstart on the interview, selection and implementation process. Think of the MQ as your pre-selected interview list, helping you quickly select a solution to drive immediate positive impact on your business’ financial results.
The MQ is arguably one of the most sought after reports that Gartner produces. Business executives and technology leaders rely on this document to help filter the technology sales and marketing noise and strategize for the future by marrying the right technology footprint with their business needs. This year’s early release is a real gift to organizations that need and want quick changes in their businesses in 2015.
We know that Chief Procurement Officers (CPO) and their technology stakeholders can capitalize on the ‘magic’ of the Strategic Sourcing Application Suites MQ by using it to:
- Educate themselves and their team about the strategic sourcing market’s competing technology providers and their ability to deliver on what CPOs require today and in the future;
- Understand how strategic sourcing application suite technology providers are competitively positioned and the strategies that each are using to compete for end-user business;
- Compare the strategic sourcing application suite technology provider’s strengths and challenges with the procurement team’s specific needs;
- Reduce the time to selection by going direct to the strategic sourcing application suite technology providers that meet their current and future vision;
- Implement faster, because the analysis provides realistic expectations; and
- Immediately reap the rewards of efficiencies, effectiveness and financial impact.
For a complimentary copy of the MQ, click here.
Gartner does not endorse any vendor, product or service depicted in its research publications, and does not advise technology users to select only those vendors with the highest ratings or other designation. Gartner research publications consist of the opinions of Gartner's research organization and should not be construed as statements of fact. Gartner disclaims all warranties, expressed or implied, with respect to this research, including any warranties of merchantability or fitness for a particular purpose.