Spend analysis pure play, BIQ, has been named to an exclusive list by Gartner Group – Cool Vendors in Supply Chain and Procurement, 2007. Four vendors were awarded the honor this year and I count this as a tremendous accomplishment for CEO, Eric Strovink, one of the truly good guys in the industry. Also named was Supplier Enablement specialist, Vinimaya. I have much less experience with Vinimaya and Gary Hare, but hear similarly good things about them. Per the Gartner summary: “New entrants, such as BIQ, FreeFlow, TrueDemand and Vinimaya, are driving innovation in the supply chain and procurement application markets.”
“Without the ability to build their own data cubes and modify the structure of the data within those datasets, the business analyst can’t explore with spontaneity. By putting a better set of tools into the hands of people doing the analysis, and making the dataset creation process easy, we’re helping our customers build many different kinds of datasets. Armed with great data visibility, commodity managers can find many more opportunities to save, enabling them to deliver value again and again over time,” stated Eric Strovink.
The full report is available to Gartner clients, and should be nice boost of exposure for the four vendors mentioned. On a side note, this is definitely good news because BIQ and Iasta are technology partners. The BIQ engine makes the backbone of the Iasta SmartAnalytics platform and further validates the strength of the total solution for strategic e-Sourcing. I have seen first-hand, many things in this technology that make it truly unique and compelling for spend visibility.
BIQ/SmartAnalytics allows point-and-click creation of data dimensions and measures, along with real-time construction and deconstruction of data hierarchies. This eliminates the time, expense, and technical resources needed to make changes using conventional data warehouse tools. Analysts can quickly identify who is buying what, how much is going to which vendors, how one group’s spending compares with others, and how spending and demand compare to previous periods or to other benchmarks.
It is definitely refreshing to see other vendors in the space get recognition on merit and hard work, two principles that we believe in very strongly.