SIG Innovations in Vendor Management Systems Technology Series – Analyst Commentary | DCR Workforce Blog

SIG Innovations in Vendor Management Systems Technology Series – Analyst Commentary

Editor’s Note: This is the fourth of a six-part series dedicated to the Sourcing Industry Group’s report, “Innovations in Vendor Management Systems Technology 2016” which is sponsored in part by DCR. References in italics are taken directly from the SIG report along with the corresponding page number.

Some people are quick to say that Vendor Management Systems (VMS) are all the same in an effort to quickly pigeon-hole a technology that is morphing and breaking new ground even as we speak. Sure, most of the systems available share certain basic characteristics. It’s when you take a deep dive into the inner workings that the light bulb appears and you can see how one technology that’s built for procurement professionals with advanced needs can stand out from the crowd.

As the analysts reported in the Sourcing Industry Group’s report, “Innovations in Vendor Management Systems Technology 2016” which DCR partially sponsored, each VMS and their respective company’s definitely shine in certain areas. With Smart Track, it’s definitely data-focused and process-driven, with the unspoken commitment to become a trusted advisor.

With DCR and Smart Track, it was noted by the analyst: What impressed me most is DCR’s roots in business process consulting and how they’ve embedded that DNA into their operations, product and systems. Throughout the entire business it’s clear their passion is for efficiency, usable data, and customer satisfaction (p. 73).

These are items that are quite evident when you demo and use Smart Track on a daily basis. The dashboard is streamlined, the data is actionable and our customer satisfaction is unparalleled.

They also found that the technology was quite impressive through the use of in-memory databases, open architecture, cloud and other leading platforms. While many competitors can also claim these features, Smart Track goes beyond the plain vanilla. Specifically within the technology, I was substantially impressed with the use of Natural Language Processing, use of spiders/crawlers and gamification. The ability for the system to search the internet, find and compile information and quickly present a well-defined, graphical depiction of market data was very impressive (p. 73).  These are the types of innovations that Smart Track is known throughout the industry for. We provide useful, actionable data, so our clients can make intelligent, strategic decisions.

As they dug further into the system, they found DCR truly is “data-crazy”, as their website promotes. From the jump, DCR has built Smart Track to be a data collection, management, and delivery machine. And while many VMS’s can collect data, DCR’s built-in configurability and drill-downs give users ability to get meaningful measures. In addition, the system “learns” market information and the user’s actions and translates that learning into proactive deliverables (p. 74).

At times, companies invest in a technology only to find pushback from within the organization, that’s why DCR has addressed change management head-on. Considerable change management, training and work processes draw people into the system. DCR has embedded gamification into their system to drive use and to reward users for performing certain functions…The use of this feature has resulted in real business benefit for those programs utilizing this feature; benefits of better performance, better financial gains (p. 73).

It’s true, we don’t include any bells and whistles just for the sheer sake of going with the crowd. Any new feature we add to Smart Track has to provide a lasting benefit to our customer base and end users.

As business consultants, we do not stop with simply providing you an incredible technology. The depth of their consulting should be considered within the leading ranks. Their “no-charge for integrations” approach reinforces their streamlining, business process commitment (p. 74).

DCR seeks to provide services and consulting to clients and to become an entrenched, trusted advisor to clients (p. 74). Because when all is said and done, we want to be your business partner, not just your technology provider.

We know that Smart Track can change your business. We’ve seen it happen over and over again. DCR…has developed a significantly powerful, useful Vendor Management System (VMS) and has a very good eye for innovations. Smart Track is a solid platform utilizing great technology and hosting, as well as business processes which deliver end-user results (p. 74).

So, as we go head-to-head with some of the oldest players, we know that Smart Track and DCR can provide impressive and innovative mission-critical functionality to our program managers. DCR Smart Track is state of the art, enterprise software and is poised to challenge the market leaders (p. 74).

Not a company content to rest on our laurels, we are continually driving new innovations.

The analyst said it best: DCR seeks to delight their users by utilizing innovations to satisfy the business needs…They’ve anticipated client needs and built in the ability to flex to meet those needs (p. 73).

We couldn’t have said it better ourselves!

To read part one of this series, click here.

To read part two of this series, click here.

To read part three of this series, click here.

To read part five of this series, click here.

To read part six of this series, click here.

You can also get the full “Innovations in Vendor Management Systems Technology 2016 report here.


Disclaimer:
The content on this blog is for informational purposes only and cannot be construed as specific legal advice or as a substitute for competent legal advice. They reflect the opinions of DCR Workforce and may not reflect the opinions of any individual attorney. Do contact an attorney for advice specific to your issue or problem.
Neha is responsible for developing and overseeing marketing strategy and brand identity at DCR. She and her team collaborate on marketing and sales strategies and product development for new initiatives.