… the smart way to address demand from manufacturers and distributors in European and Asia-Pacific markets, I expect regional and country-based IT channel distributors will become more front and center for SourceDay.
CP: Who are your main competitors, and what makes your offering better?
EO: It’s amazing how many prospects we cross paths with that are still using spreadsheets, email and phone calls to facilitate acknowledgement, exception handling and collaboration with their suppliers. So our No. 1 competitor without a doubt is spreadsheets, email and phone calls that are inherently slow and error-prone. It’s a direct result of supplier collaboration being underserved. Early on in SourceDay’s history, ERP systems like SAP, and related tools like SAP Ariba, were also mistakenly identified as sources of competition by our customers and prospects. But we’re past that phase as the market has become better educated. ERP systems have proven effective at business integration across internal systems and serving as a general ledger, but they were not designed for facilitating collaboration beyond the enterprise. Our platform integrates bidirectionally with ERP systems to deliver collaboration beyond the enterprise and through the supply chain. SourceDay also updates the ERP system to ensure accuracy of the data that is driving financial and operational planning.
CP: How do you think your technology portfolio will change in the next three years?
EO: Our customers are hungry for SourceDay to roll out more modules and features to impact more use cases that take advantage of a platform that endears itself to collaboration. We recently rolled out additional products to address some of the pain points manufacturers and distributors have when it comes to supplier accounts payable, invoice matching, request-for-quote communications, tracking, compliance and awards. In addition to these capabilities, we are also looking at microservices that will enable our system-integrator and technology partners to extend and integrate SourceDay products and services in a standard way that does not result in added complexity or come at the expense of time to value. This area of platform innovation is especially exciting to me given my role.
CP: How do you expect your channel strategy to evolve over that time frame?
EO: I don’t see any major changes in the short term. As previously mentioned, we do foresee the DNA of our partner ecosystem evolving over the next three to five years as a result of our entry into new geographies, verticals and enterprise segments. Bigger picture, I’m an advocate of having a channel strategy be a direct reflection of customer trends and market forces. So we will adapt as we see indicators from our customers on new ways they want to consume the platform or integrate with other solution ecosystems.
CP: What didn’t we ask that partners should know?
EO: Supplier adoption of the platform is another big differentiator for us. SourceDay has already made the investment in the people, processes and technology to ensure suppliers adopt the platform. We continue to achieve very high levels of supplier adoption, which is critical to both alleviating manufacturer concerns and achieving quick time to value for our channel partners and their customers. This investment is a big part of what makes partnering with SourceDay compelling because a SourceDay deployment is wired for success.