This press release features multimedia. View the full release here: https:\/\/www.businesswire.com\/news\/home\/20230823641401\/en\/<\/a><\/p>\n The P2P Hackett Value Matrix charts the value realization, breadth of capability and solution maturity for leading purchase-to-pay solutions providers. High resolution image available on request. (Graphic: The Hackett Group)<\/p>\n<\/div>\n \nToday\u2019s P2P solutions are a fundamental building block to enabling digital transformation for world-class organizations. These solutions transform procurement organizations into strategic, efficient and data-driven functions that drive cost savings, enhance both supplier and internal customer relationship, ensure compliance, reduce risk, and support business growth. Indeed, The Hackett Group\u2019s research found that technology is changing the way procurement professionals work, and the best P2P solutions are using automation to create virtually touchless e-procurement<\/a> environments, taking humans out of the equation. They also capture a tremendous amount of data to continuously improve spend visibility, while setting the foundation for the application of generative artificial intelligence to uncover new approaches for spend cost improvement, improve channel management and even rearchitect supply chains to reduce continuity risks.<\/p>\n \nThe research from The Hackett Group\u00ae<\/sup> found that top-performing P2P solutions providers enable companies to achieve dramatically higher value creation than typical companies, including:<\/p>\n \nThree solutions providers achieved Digital World Class\u00ae<\/sup> status in the P2P Hackett Value Matrix: Coupa, JAGGAER and SAP. Four others were named as Challengers: Basware, GEP, Ivalua and Oracle. One solutions provider, Quadient, was named as Emerging. Two other solutions providers \u2013 Kissflow and Synertrade \u2013 are included in the research but were not plotted on the Hackett Value Matrix due to insufficient sample size.<\/p>\n \nThe P2P Hackett Value Matrix and related research is a product of The Hackett Group\u2019s Market Intelligence Service. The service is designed to evaluate software and service providers\u2019 ability to deliver quantifiable results from specialized and differentiated capabilities.<\/p>\n \nThe research analyzed performance data in The Hackett Group\u2019s extensive proprietary benchmarking database, software performance data from customers using the P2P solutions, and interviews with the solutions providers and end users. The Hackett Value Matrix analyzes providers\u2019 unique capabilities against the benefit companies can achieve with the help of their solution. Providers that offer breakthrough capabilities and incredible value realization earn the distinction of Digital World Class.<\/p>\n \nRelated to the P2P research scope, The Hackett Group analyzed solutions providers in four key areas: onboarding and data management; requisitioning and ordering; receiving and evaluating; and invoice processing.<\/p>\n \nAccording to The Hackett Group Principal and Global Procurement Advisory Practice Leader Chris Sawchuk, \u201cA continuous improvement mindset is critical to procurement strategy<\/a> in today\u2019s challenging business environment. Change is constant — from new suppliers to new technologies to new risks and regulations. In that context, our research identified the best P2P solutions providers as true innovators who are finding new ways for procurement organizations to derive more insights and deliver greater value.\u201d<\/p>\n \nThe Hackett Group Director Richard Gardner added that \u201cWe also found that the best P2P solutions providers excel in several other areas. They have dramatically streamlined the onboarding process for suppliers, integrating third-party solutions that pre-validate supplier data. Digital supplier collaboration is key to improving spend savings and reducing risk. They also offer solutions designed to address the complicated process of global invoicing compliance and the emerging area of reporting and tracking for environmental, social, and governance metrics. They are more flexible, provide greater channel coverage, and they require less customization improving speed-to-value for customers.\u201d<\/p>\n \nTed A. Fernandez, Chairman & CEO of The Hackett Group, explained that \u201cOur vast global client base, which includes 93% of the Fortune 100, cited a gap in provider insight around the realization of value from specific software and service investments. The Hackett Group is uniquely qualified to address this fundamental requirement in market intelligence due to our vast benchmarking database and implementation knowledge. We are pleased to issue our Hackett Value Matrix in P2P Software Solutions \u2013 which will be followed by a series of similar research reports covering software and services across the enterprise, including enterprise performance management (EPM) software providers and finance and accounting outsourcers.\u201d<\/p>\n \nThe P2P Hackett Value Matrix is part of The Hackett Group\u2019s full 64-page P2P research report, which is available now to solutions providers, research advisory and consulting clients through a new P2P Market Intelligence Program that provides a concierge level of insight into the P2P solutions provider market. The P2P Hackett Value Matrix should be read in the context of the entire report. A 20-page summary report is also available on a complimentary basis, with registration, at https:\/\/go.poweredbyhackett.com\/p2psp2308<\/a>. The full research is also available for purchase. Interested parties can learn more at https:\/\/go.poweredbyhackett.com\/vsm<\/a> or by visiting the web page for our Market Intelligence Service at https:\/\/www.thehackettgroup.com\/market-intelligence\/<\/a>.<\/p>\n \nThe Hackett Group does not endorse any participant, vendor, product or service depicted in its research. This research should not be considered as advice that a technology user select only those participants based on their ranking or position on the P2P Hackett Value Matrix. The Hackett Group\u2019s research publications consist of the opinions of its research organization and should not be interpreted as factual statements. The Hackett Group disclaims all warranties, expressed or implied, with respect to this research, including any warranties of merchantability or fitness for a particular purpose.<\/p>\n About The Hackett Group<\/b><\/p>\n \nThe Hackett Group, Inc. (NASDAQ: HCKT) is a leading benchmarking<\/a>, research advisory and strategic consultancy firm that enables organizations to achieve Digital World Class\u00ae<\/sup> performance.<\/p>\n \nDrawing upon our unparalleled intellectual property from more than 25,000 benchmark studies and our Hackett-Certified\u00ae<\/sup> best practices repository from the world\u2019s leading businesses \u2013 including 97% of the Dow Jones Industrials, 93% of the Fortune 100, 73% of the DAX 40 and 52% of the FTSE 100 \u2013 captured through our leading benchmarking platform Quantum Leap\u00ae<\/sup> and our Digital Transformation Platform, we accelerate digital transformations, including enterprise cloud implementations.<\/p>\n \nFor more information on The Hackett Group, visit: https:\/\/www.thehackettgroup.com\/<\/a>; email info@thehackettgroup.com<\/a>; or call (770) 225-3600.<\/p>\n \nThe Hackett Group, Hackett-Certified, quadrant logo, World Class Defined and Enabled, Quantum Leap, Digital World Class and Hackett Value Matrix are the registered marks of The Hackett Group.<\/p>\n Cautionary Statement Regarding \u201cForward-Looking\u201d Statements<\/b><\/p>\n \nThis release contains \u201cforward-looking\u201d statements within the meaning of Section 27A of the Securities Act of 1933 as amended and Section 21E of the Securities Exchange Act of 1934, as amended. Statements including without limitation, words such as \u201cexpects,\u201d \u201canticipates,\u201d \u201cintends,\u201d \u201cplans,\u201d \u201cbelieves,\u201d seeks,\u201d \u201cestimates,\u201d or other similar phrases or variations of such words or similar expressions indicating, present or future anticipated or expected occurrences or outcomes are intended to identify such forward-looking statements. Forward-looking statements are not statements of historical fact and involve known and unknown risks, uncertainties and other factors that may cause the Company\u2019s actual results, performance or achievements to be materially different from the results, performance or achievements expressed or implied by the forward-looking statements. Factors that may impact such forward-looking statements include without limitation, the ability of The Hackett Group to effectively market its digital transformation and other consulting services, competition from other consulting and technology companies that may have or develop in the future, similar offerings, the commercial viability of The Hackett Group and its services as well as other risk detailed in The Hackett Group\u2019s reports filed with the United States Securities and Exchange Commission. The Hackett Group does not undertake any duty to update this release or any forward-looking statements contained herein.<\/p>\n View source version on businesswire.com: <\/span>https:\/\/www.businesswire.com\/news\/home\/20230823641401\/en\/<\/a><\/span><\/p>\n \nGary Baker, Global Communications Director – (917) 796-2391 or gbaker@thehackettgroup.com<\/a><\/p>\n KEYWORDS:<\/b> Florida United States North America<\/p>\n INDUSTRY KEYWORDS:<\/b> Technology Consulting Marketing Other Technology Communications Professional Services Software Data Management Other Professional Services<\/p>\n![\"The](\"https:\/\/mms.businesswire.com\/media\/20230823641401\/en\/1872628\/4\/P2P_Value_Matrix_Chart_FINAL.jpg\")
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