JAGGAER to Launch Multiple Next Generation Industry Specific Spend Solution Suites
RESEARCH TRIANGLE PARK, NC – May 22, 2017 – JAGGAER, producers of the world’s most comprehensive Source to Pay (S2P) suite, is launching a suite of solutions tailored specifically for the needs of multiple major industry verticals. Specialized vertical solutions have been cited by procurement industry analysts as the critical next step in the evolution of Source-To-Pay spend solutions. The solutions will be rolled out on an aggressive cadence throughout 2017.
JAGGAER is developing these solution bundles after extensive vertical customer interviews and industry analysis. Industries addressed include manufacturing, logistics, healthcare, retail, CPG and life sciences/pharma. JAGGAER currently provides the leading solution suite in higher education, and a specialized solution developed from the ground up for life sciences materials management.
“Industries have specific needs that have been thus far met by customization of core software offerings. Our solution bundles reflect the next generation in the evolution of spend management: industry tailored feature sets that address vertical business challenges. These are industrial strength solutions.” says Robert Bonavito, JAGGAER CEO.
Per Debbie Wilson, Research Vice President, Procurement Solutions & Strategies at Gartner, “Despite the enthusiasm for indirect P2P technology, e-procurement solution implementations have had a high failure rate…Gartner estimates that, since their advent in the late ’90s, 50% of general-purpose e-procurement solution purchase implementations fail to meet expectations…The lingering problem is that, for many indirect spending categories, general-purpose e-procurement solutions lack sufficient work-stream-specific functionality to deliver an ROI.”*
This observation is mirrored in the Spend Matters annual mega trends outlook, “ E-procurement has largely been ‘generic’ or ‘one-size-fits-all” to date in terms of how packages are sold and how they are used…it will be essential for providers to work with customers to build specific verticalization (sic) business cases.”**
According to Forrester, “Vendors that understand the buy-side processes, challenges, and requirements of your industry can bring more value than a generic vendor.”***
JAGGAER currently provides solutions for many of the top companies in the verticals represented, including Vulcan Materials, WestJet, CEVA Logistics, Hologic, Lonza, FujFilm Diosynth Biotechnologies, Starbucks, Safeway, J.M. Smucker and Rite-Aid. JAGGAER has over 600 customers globally with a supplier networks of 1.65 million conducting over $56 billion in transactions annually. The new solutions suites have been integrated into the 2017 roadmap that is driven by a monthly release schedule.
*Gartner, Strategic Roadmap for Automating the Procure-to-Pay Process for Indirect Goods and Services refreshed Feb 13 2017
**Spend Matters, E-Procurement Market Outlook 2016-2018: 10 Technology and ‘Mega’ Trends.
***Forrester Vendor Landscape: ePurchasing Suites, 2016-2017
JAGGAER’s comprehensive and complete spend solutions suite enables commerce between any businesses, anywhere. We pioneered spend solutions over two decades ago and have continued to lead the innovation curve by listening to customers and analyzing the market. JAGGAER holds 38 patents, more than any other eProcurement company. Our solutions suite is trusted by the world’s largest higher education, commercial, pharmaceutical and life sciences companies that collectively form a network with billions of dollars in annual spend. JAGGAER’s SaaS based, Source to Pay (S2P) solutions enable an efficient relationship between buyers and suppliers, covering the entire spectrum of needs, from sourcing to spend analysis, through contract management and AP. Learn how our solutions can power your organization: www.jaggaer.com.