ScanMarket is a Denmark-based cloud-based Source-to-Contract suite provider with hundreds of global clients and high adoption rates. ScanMarket claims that companies that switch to their solution see 3x gains in adoption and spend volume (put through the system), and it’s not an unrealistic claim (especially when the system is compared to older Source-to-Contract solutions). It’s another company that has been around quite a long time (since 1999), even though it’s not a name you know in North America.
Even though modules can be activated or deactivated as desired (and an organization can buy anything from just Project Management to the whole suite), ScanMarket was designed to be a single, integrated, source-to-contract suite that contains eRFX, eAuctions, Contract Management, Supply Base Management, Project Management, and Spend Analysis (which is the only module that is almost completely separate). Functionality can be purchased separately, but there is no versioning — ScanMarket is one platform, one instance (where ‘modules’ can be turned off depending on the functionality not desired by a customer). (ScanMarket provides a short, quick on-line introduction video overview of what they think an e-Sourcing platform is.)
The RFX solution allows RFI, RFP, and RFQ which support numerous evaluation settings via bid parameters and weighted scoring, a powerful bid matrix that can capture up to 1 Million data points in a single bid, a template (and question) library for quick event creation, (standard) Excel integration for offline completion, and integration into the sourcing dashboard. In addition, it contains the ability to copy events using multiple template settings that take just the desired data forward. In addition, the buyer can choose to just take some suppliers and some bids forward as well. It’s pretty powerful for an RFX platform.
The e-Auction platform is more-or-less your standard e-Auction platform supporting Japanese, Dutch, Reverse, Factored, and Forward auctions with numerous, configurable, bidding rules to match the event to the situation including individual starting prices, feedback options, blindfolding, proxy bidding, rank, traffic lights, staggering, blind period, reserve price indicator, and partial quantity bidding. Auctions can be monitored in real time on an item and lot level, and the buyer can choose whether to see a full tabular history of bids by item or lot or a real-time graphical “horse-race” view. In addition, the bids can be modified in real time using one or more modifiers (such as switching costs) or formulae (which can include factors to account for different defect rates) and allow buyers to do realistic cost comparisons (even if such cost comparisons are hidden from suppliers).
Contract Management provides a single, online, repository for all contracts with search and reporting. It supports templates (for quick contract data capture), version control, categorization, and buyer-defined meta-data with a detailed approval workflow to support negotiations. Contracts can be instantiated directly from the results of a (cherry-picked) RFX or e-Auction, dates specified, and appropriate notifications and reminders set.
ScanMarket SBM is their Supplier Information Management (SIM) solution that acts as the central, single, repository for all supplier information. It can capture all of the data you expect, including any and all attachments that need to be captured, index those attachments with meta-data, allow for repository-wide (metadata) search, provide full visibility into associated supplier activities (including event history, contracts, and captured performance), and maintain complete audit trails. It also integrates with the suite dashboard for dashboard-based reporting.
Project Management in ScanMarket is a single repository for all projects, notes and attachments that provides an integrated dashboard view of, and reporting across all, projects. There is customizeable workflow management, that allows for the creation of multiple project workflows that can be instantiated as needed, and the templated workflows can be customized for each task in each project across stakeholders and participants. There is also integrated communication and messaging and the ability to quickly jump into the appropriate point in the eRFX, e-Auction, supplier profile, or contract associated with the project.
ScanMarket is a solution that is definitely worth looking into. For more information, see the recent Spend Matters Pro [membership required] series by the doctor and the prophet. (Part I, Part II, and Part III)