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< Previousfinance, procurement, and operations professions in the way ERPs meet the need for financial and operational control or the way CRMs orchestrate global sales teams. This yawning gap in the enterprise IT topology is increasingly being felt by CIOs and supply chain leaders, who face increased demands to understand costs, risks and opportunities across their vendor and supplier network. A startup called Terzo is on a mission to fill the gap with its first-of-a-kind Vendor Relationship Management software platform. Incorporated in May 2020, in the words of co-founder and Chief Executive Brandon Card, “Terzo is a true platform for the enterprise buyer – the enterprise operator. Our platform breaks down corporate silos, centralizing data and allowing teams to understand their vendor ecosystems, as never before. This becomes the obvious starting point to unlock insights to make smarter business decisions and maximize value from vendors. It is also a natural platform to drive and track implementation of newer ESG initiatives across the supplier base.” In a nutshell, Terzo is designed to connect people and improve access to actionable data, breaking corporate silos along the way and increasing accountability through visibility. “Terzo is the CRM for the buyer, we’re a new critical component to complement any ERP, because everyone is figuring out that the vendor ecosystem is critical,” explains Card. Terzo’s innovative solutions can solve many complex problems, but according to Card the starting point is usually simple. Improving Contract Intelligence and Visibility Card highlights a big problem with a few simple questions: • What would it be worth if your organization never missed another contract deadline or renewal? • Would it be valuable if you could see, in real time, every contract commitment for the year and where you are actually spending during the same year, at any point in time? • What if you could immediately see and understand the contract hierarchy of every vendor relationship you have, including how all your MSAs, SOWs and POs fit together and across your business units? • What if you could understand your top 10 or even top 100 strategic vendors ranked by committed spend, actual spend, past spend or future committed spend? • What if every datapoint you need to conduct a QBR or annual vendor review were at your fingertips, all the time without any special projects or work? • What if you could be alerted immediately when actual spend approaches or exceeds contracted spend, with any vendor, anywhere in the world? • What if you understood every product line item and its cost spelled out in a simple way from a complex contract? “The root of the problem we solve is that leaders and the line, alike, don’t have the visibility they need into the contracts – the formal description of the relationships they have in place with vendors – to meet the challenge of managing those vendors effectively,” says Card. He continues, “when I ask these simple questions to enterprise leaders, I almost immediately see a breakthrough, like they are having a sigh of relief that someone is connecting with this huge challenge, this pain point.” Contract Lifecycle Management (“CLM”) software was initially designed for lawyers managing lots of legal language markups. Terzo takes a different approach by building a system that extracts critical data from contracts and then organizes them in intuitive ways that assist managers with everyday business decisions. In this way, contract intelligence is delivered to all lines of business, be it IT, finance, procurement, or supply chain magnifying returns on information. Walk and Then Run Once deployed, Terzo VRM delivers contract renewal alerting and tracking, vendor portfolio rationalization, product, and service redundancy identification, spend insights and alerts on overage. “The functionality we bring out-of-the-box exceeds what ERP systems can do when it comes to processing contracts, extracting data, renewal tracking, analytics, and alerting,” explains Roger Laforce, Terzo’s Chief Technology Officer. This is another area where Terzo is excelling with their advanced ERP solutions that stand out from the crowd. Moreover, by bringing all the business data together in a secure, native cloud application, management dashboards and reports can be delivered with no need to interface with external systems like Tableau or BI – “the data and the analytics are already all in the right place with Terzo,” concludes Laforce. It sounds simple, but Terzo’s VRM allows its customers to escape hunting for contracts and supporting data in emails, spreadsheets, Sharepoint and disparate hard drives. “Terzo represents a journey that can transform performance, but we coach clients to walk before they run,” explains Eric Pritchett, Terzo’s Chief Operations Officer. “It sounds simple, but we start with achievable goals like delivering zero missed contract renewals and centralizing data to get teams off outdated tools and manual workflows,” he explains. These initial steps create value by getting people working with modern technology. “Once Terzo VRM is installed, there is this realization that smoother, automated workflows and data availability can improve how people look at problems and collaborate with others. This creates a ‘beehive’ effect, where more interaction drives more data and use cases into the VRM. It’s how the modern knowledge worker wants to work,” explains Pritchett. VRM, a CRM For the Buyer? Years ago, CRM systems were developed to allow selling organizations to be more effective by modernizing communications, client relationship mapping and targeting. “Enterprises have invested heavily in selling – organizations care a lot about the top-line.” Explains Al Giocondi, a Terzo co-founder and Head of Sales. On the other hand, organizations have invested much less in platforms that enable successful relationship management from the other direction. “The reality is that corporate leaders haven’t invested nearly as much to manage their vendors as they have to sell their own products and services to their customers. In a top-line world, that may work, but mature companies realize they have gaps that need investment, so they can spend smarter and manage their strategic vendors and suppliers more intelligently,” says Giocondi. “The simplest way to think about Terzo’s VRM is that we are the ‘CRM for the buyer’. Many of our customers tell us this,” continues Giocondi. Using the VRM creates a people mapping across your organization – across departments and even business units. The VRM also allows the buyer to play the old ‘CRM game’, in that all vendor stakeholders: sales coverage, support staff, account leaders and even executives are mapped to specific contract products and promises. “We bring in all these people with our relationships and the contact management component. We then map products and services to all these people so that our customers know exactly the contact when they have specific questions or need accountability,” adds Card. This way, the teams can get answers to their specific questions quickly, spending very little time hunting for the right person to connect with. That’s a key component of what Terzo brings with its out-of-the-box contact management capability. Card extols that, “We believe that bringing together the stakeholders and data is going to help our customers interact with the vendors better. We see companies moving away from transactional relationships in favor of deeper, more transparent partnerships. This is a big theme we're seeing in the market right now. At Terzo, we're trying to change the traditional customer-to-vendor relationship to empower people to collaborate more effectively and achieve more.” Exploiting Technology for Everyone “We’re continuing to experience this strong trend towards a consumerization of the enterprise IT environment,” explains Laforce. “Today, workers interact with iPhones, social media, and Smart TVs every day. Consumers have been trained to want slick applications, which are easy on the eyes, configurable and intuitive to use. Next generation cloud-based platforms like Terzo give knowledge workers that pleasant, consumer-like user experience… workers are sick of At Terzo, we're trying to change the traditional- customer vendor relationships and management with our cloud-based platform and allow people to collaborate more effectively Al Giocondi Co-Founder & Head of Sales , Terzo Technologies Brandon Card, CEOugly screens and clunky interfaces designed in the late 90s,” argues Laforce. No-code workflows, drag and drop configuration, individualized dashboards and reports, cloud-based artificial intelligence, optical character recognition, point and click data capture, smart alerting…. These technology trends should be impacting how the knowledge worker experiences the day, but for too many, they remain only buzz words. Terzo is changing that. “The great thing about a tech startup is that you pick a problem, and you get to apply all of the coolest new technologies to it right away,” says Card. When we imagined the Terzo VRM, we made sure to incorporate all the coolest new technologies the cloud has to offer. The result is a truly new way to work, where all workers across functions can interact with the latest technologies to get more out of their workday,” says Card. Origins of Innovation While working at Microsoft, Card heard complaints from customers about how difficult it was for them to manage the Microsoft relationship. On further discussion, Card learned this was a common theme across large enterprises in every industry. Card reflected on his experience at Microsoft, as well as IBM and Oracle before. Card realized there was a massive problem with how customers manage relationships with their most important vendors. At every stop along his career at top IT firms, he met customers who complained about how complex their vendor ecosystem was and how they needed a “CRM for the buyer.” This market insight inspired Card to found Terzo, borrowing the word ‘third’ from the Italian language, to honor the goal of maximizing third party relationships. Since then, Terzo’s goal has been to be the world’s first "VRM" to help enterprises take a data-driven approach to their third-party suppliers. “Contract intelligence and transparency builds strong relationships because the best relationships are built on trust, understanding and shared interests” explains Card. Solving simple frustrations are one thing, but recently, leaders have been confronted by the realization that their organizations are highly exposed – vendors and the supply chain are getting top billing in today’s strategic conversations. The global pandemic has separated teams and disrupted supply chains. This makes some enterprise siloes even more difficult to overcome for the line worker. “The ‘new normal’ has outdated – frankly what were already outdated ways of working,” explains Pritchett. Over the years, Terzo has built a strong solution around contract intelligence. Today, the 2022 roadmap of Terzo is heavily focused on supplier governance, supplier compliance, and supplier performance. “By the next two years, we’re going to be heavily focused around governance, compliance, ESG initiatives, and a lot of things governing the third-party vendor ecosystem. This way, we could help our customers understand who's doing well and who's performing poorly, so our clients can ultimately make bigger bets on whether they want to partner with specific vendors, either cloud-based vendors or service-based vendors across the client ecosystem,” concludes Card. 14 20 Innovative C loud ERP doesn’t seem like a new trend in 2022. ERP solutions have been around the industry for almost a decade, and most vendors are now cloud-only or offering both cloud and on-premise deployments or a hybrid model. Mobile ERP was well on its way to becoming the norm before the pandemic hit. ERP sys- tems with zero-touch automation, interactive assistance, an intelligent advisor, and more innovations are stepping into the market to streamline business processes and achieve new levels of efficiency. Intelligent ERP can optimize workflows, shorten lead times, and reduce errors related to data import and processing. Some of the modern AI-based tools can utilize the potential of system-generated data to initiate more informed deci- sion-making by helping to identify red flags before they disrupt the business. The industry is also getting filled with intelligent and AI-enabled ERP systems that could streamline resource planning operations. Hyper scaling is the new heading in the ERP space, but still, some ERP ven- dors have only recently begun offering services to help their customers use the platform. When embarking on an ERP implementation, choosing the best ERP software is one of the most important things that any business should do. However, with hundreds of different ERP options in the marketplace, it can be overwhelming to figure out which system is the best. Enterprise Viewpoint Magazine has come up with this special edition on “Top 20 ERP Solution Providers 2022” to help businesses and CEOs get a clear picture of the current ERP trends amidst the noise around. Our research team, editors, and CEO shortlisted the companies listed below based on their performance and unique value proposition.Avanade : Pamela Maynard CEO Seattle, Washington avanade.com Avanade is the leading provider of innovative digital and cloud services, business solutions and design-led experiences on the Microsoft ecosystem. With 50,000 professionals in 25 countries, they are the power behind the Accenture Microsoft Business Group, helping companies to engage customers, empower employees, optimize operations and transform products, leveraging the Microsoft platform. Majority owned by Accenture, Avanade was founded in 2000 by Accenture LLP and Microsoft Corporation. Acumatica : Jon Roskill CEO Kirkland, Washington acumatica.com The Acumatica ERP system delivers adaptable cloud and mobile technology with a unique, all-inclusive user licensing model. Acumatica provides a complete real-time view of your business anytime, anywhere, on any device. Through their worldwide network of partners, Acumatica ERP provides a full suite of integrated business management applications, including Financials, Distribution, Project Accounting, and CRM, as well as separate Field Service Edition, Commerce Edition, Manufacturing Edition, and Construction Edition. Coupa Software : Rob Bernshteyn CEO San Mateo, California coupa.com Coupa Software (NASDAQ:COUP) is the cloud platform for business spend management (BSM). From their own operations to what they offer clients, they are focused on one thing: business value. Value is the quantifiable, measurable improvement that a solution or process delivers. It’s explicit, but it isn’t a singular achievement or a moment in time. Coupa empowers companies around the world with the visibility and control they need to spend smarter and safer. BlackLine : Therese Tucker Founder & Executive Chair Woodland Hills, CA blackline.com BlackLine is a provider of cloud-based solutions that transform Finance and Accounting (F&A) by automating, centralizing and streamlining financial close operations, intercompany accounting processes and other key F&A processes for large and midsize organizations. Designed to complement virtually all ERP and other financial systems including SAP, Oracle and NetSuite, BlackLine increases operational efficiency, real-time visibility, control and compliance to ensure end-to-end financial close management and accounting automation from within a single, unified cloud platform. ERP Solution Providers 2022 20 InnovativeDeltek : Mike Corkery President & CEO Herndon, VA deltek.com Headquartered in Herndon, Virginia, with over 3,000 employees worldwide, Deltek is the leading global provider of enterprise software and information solutions for project-based businesses. Better software means better projects. Deltek delivers software and information solutions that enable superior levels of project intelligence, management and collaboration. Their industry-focused expertise make projects successful and helps organizations achieve performance that maximizes productivity and revenue. ECI Software Solutions : For more than 30 years, ECI Software Solutions has been providing industry-specific, cloud-based business management software and services to small and medium- sized businesses. With divisions focused on manufacturing, wholesale/retail distribution, building and construction, and field service, ECI's solutions integrate into every aspect of a customer's business to help them level the playing field, run day-to-day operations more efficiently, and free them up to focus on what matters most. Sarah Hagan President and COO Fort Worth, TX ecisolutions.com DELMIAWorks Manufacturing ERP : Bernard Charles Vice Chairman of the Board & CEO Waltham, MA solidworks.com Dassault Systèmes, the 3DEXPERIENCE Company, provides business and people with virtual universes to imagine sustainable innovations. Its world-leading solutions transform the way products are designed, produced, and supported. Dassault Système's collaborative solutions foster social innovation, expanding possibilities for the virtual world to improve the real world. The group brings value to over 230,000 customers of all sizes, in all industries, in more than 140 countries. EPICOR : Steve Murphy CEO Austin, TX epicor.com For almost 50 years, Epicor has worked hand-in-hand with customers to get to know their business almost as well as they do—creating industry-specific software solutions and services that help them do business better. Epicor's innovative solution sets are carefully curated to fit their needs, and built to respond flexibly to their fast-changing reality. They accelerate every customer’s ambitions, whether to grow and transform, or simply become more productive and effective. That’s what makes Epicor the essential partners for the world’s most essential businesses. ERP Solution Providers 2022 20 InnovativeOdoo : Fabien Pinckaers CEO Grand Rosiere, Belgium odoo.com Odoo is an open-source suite of integrated business applications actively programmed, supported, and organized by Odoo SA. Odoo is similar to many open-source projects where customized programming, support, and other services are provided by an active global community and partners network. The community is comprised of more than 1,500 active members and has contributed more than 4,500 modules to the ongoing enrichment of Odoo. The network of certified partners, established in more than 120 countries, deploys the solution locally. FIS Global : Gary Norcross Chairman & CEO Jacksonville, FL fisglobal.com FIS is at the heart of the commerce and financial transactions that power the world’s economy. They are passionate about helping businesses and communities thrive by advancing the way the world pays, banks and invests, serving more than 20,000 clients and more than one million merchant locations in over 130 countries. Infor : Kevin Samuelson CEO New York, NY infor.com Infor is a global leader in business cloud software products for companies in industry specific markets. Infor builds complete industry suites in the cloud and efficiently deploys technology that puts the user experience first, leverages data science, and integrates easily into existing systems.Over 65,000 organizations worldwide rely on Infor to help overcome market disruptions and achieve business-wide digital transformation. QAD : Anton Chilton CEO Santa Barbara, CA qad.com QAD Inc. is a leading provider of next generation manufacturing and supply chain management solutions. They serve global manufacturing companies in six verticals: automotive supply, life sciences, consumer products, food and beverage, high tech and industrial products. QAD cloud-based ERP solutions help manufacturers stay efficient and withstand disruption. Their supply chain offerings include real-time supplier performance, right-sized inventory management, intelligent forecasting and machine learning-driven planning. ERP Solution Providers 2022 20 InnovativeRightrev : Jagan Reddy Founder, CEO Santa Clara, California rightrev.com RightRev is committed to provide the most seamless and integrated revenue recognition solutions for modern businesses. Their software is embedded with action- oriented features that are designed to make a difference. From contract changes to subscription renewals, their trusted platform tracks the entirety of customers revenue contracts, from quote, order, invoice, all the way to revenue recognition and management reporting. Sage Group : Sage is the global market leader for technology that helps small and medium businesses perform at their best. Sage is trusted by millions of customers worldwide to deliver the best cloud technology and support with their partners to manage finances, operations, and people. Their social and mobile technology provides live information so clients can make fast, informed decisions anytime, anywhere in the world. Steve Hare CEO Newcastle upon Tyne, UK sage.com Reynolds and Reynolds Company: Tommy Barras CEO and Chairman Dayton, OH reyrey.com Founded in Dayton, Ohio in 1866, Reynolds and Reynolds is a leading provider of automobile dealership software, services, and forms to help dealerships deliver better results and transform the customer experience. With products in over 70% of U.S. dealerships, Reynolds features the industry’s only Retail Management System. SYSPRO : Phill Duff CEO Johannesburg, Gauteng us.syspro.com SYSPRO is a leading, global Enterprise Resource Planning (ERP) software provider specializing in key manufacturing and distribution industries. For over 40 years, SYSPRO’s team of specialists have continued to address unique industry needs and enable customers to easily adapt and grow. The solution is scalable and can be deployed in the cloud, on-premise, or both, and accessed via the web on any device to provide customers with choice and flexibility. ERP Solution Providers 2022 20 InnovativeWorkday : Aneel Bhusri Co-Founder & Co-CEO and Chairman Pleasanton, CA workday.com Workday is a leading provider of enterprise cloud applications for finance, HR, and planning. Founded in 2005, Workday delivers financial management, human capital management, and analytics applications designed for the world’s largest companies, educational institutions, and government agencies. Organizations ranging from medium-sized businesses to Fortune 50 enterprises have selected Workday. Terzo Technologies : Brandon Card CEO Los Angeles, California terzocloud.com Terzo empowers enterprises to unlock strategic opportunities hidden within their vendor ecosystems. Through its Vendor Relationship Management (VRM) platform, enterprises gain insights that allow them to drive innovation, improve governance, increase collaboration and optimize performance. They built the world's first VRM platform to provide a single source of truth for vendor management. Tietoevry : Kimmo Alkio CEO Helsinki, Finland tietoevry.com Tietoevry creates purposeful technology that reinvents the world for good. They are a leading technology company with a strong Nordic heritage and global capabilities. Based on their core values of openness, trust and diversity, they work with their customers to develop digital futures where businesses, societies, and humanity thrive. Zoho Corp : Sridhar Vembu Founder & CEO Chennai, Tamil Nadu zoho.com Zoho offers beautifully smart software to help customers grow their business. With over 70 million users worldwide, Zoho's 50+ products aid sales and marketing, support and collaboration, finance and recruitment needs—letting customers focus only on business. Zoho respects user privacy and does not have an ad-revenue model in any part of its business, including its free products. ERP Solution Providers 2022 20 InnovativeNext >