The following image popped up in my LinkedIn feed this morning.
While I don’t want to sound cynical, however, I am a guy who grew up in an era when only the top 3 finishers received a medal or a ribbon, while the remainder had to contend themselves with the sentiment that they would have better luck next time.
Sadly, it seems that anyone and everyone in our industry is receiving some kind of award or acknowledgement for – let’s call it participation.
Before the image below popped up on my screen, I must admit that I had never heard of SpendKey. For me, that is not only an invitation to check them out, but also to do a Level 1 Hansen Score Fit check. In short, get those self-learning algorithms firing on all cylinders.
A consolidated 6-model Level 1 assessment generally had good things to say about SpendKey, with the following NOTABLE caveats across the board:
- “SpendKey’s fit assessment criteria, as described in its own documentation and related spend management guides, include seamless integration, effective spend management, robust spend taxonomy, comprehensive spend visibility, and measurement of customer and product fit via metrics such as NPS and retention (SpendKey blog). While these criteria are congruent with the Hansen Fit Score’s focus on measurable alignment and successful implementation, they do not constitute a direct score or ranking under the Hansen model.”
- “However, its niche focus and limited track record slightly lower its score compared to established players. The chart visualizes its rapid rise from 2022 to 2025, driven by awards and SolutionMap inclusion. To improve its score, SpendKey should expand integrations and publish detailed case studies to demonstrate ROI.”
- Limited Scope: SpendKey’s focus on spend and contract analytics may limit its appeal for organizations needing end-to-end S2P solutions, unlike Coupa or SAP Ariba.
- Market Competition: The crowded ProcureTech landscape (400–600 solutions) and 25% failure risk for AI providers pose challenges for a young startup.
- Scale and Track Record: With only £358,000 in funding, SpendKey lacks the resources of larger players, and its short history limits proven ROI compared to established providers.
Based on the above, practitioners require more than just the Hype Cycle to engage with a ProcureTech solution provider like SpendKey. Let’s face it, the high generational ProcureTech initiative failure rate is hard to overlook.
A DIFFERENT LEVEL
So, how do you wade through the hype? How do you understand beyond features, functions, and benefits?
The following is a peek at what I mean when I say we need to take our assessments using a Metaprise, Agent-based, Strand Commonality model, e.g., the Hansen Fit Score, to an entirely newer and deeper level:
**SpendKey Executive Alignment Analysis**
Consolidated Recommendation
After analyzing six different assessment models, there is a clear consensus emerging around the top-tier candidates, with CPO Pharma 1 representing the strongest overall alignment with Alex Grundy and SpendKey.
Primary Recommendation: CPO Pharma 1 – Pharma 1
Alignment Score: 9/10
Why This Is The Best Fit:
1. Perfect Role-Solution Match
- As Head of Global Procurement Excellence, CPO Pharma 1’s mandate directly aligns with SpendKey’s core value proposition
- His focus on “Cost Management Data, Analytics & Visualization” and “Process Automation” maps perfectly to SpendKey’s AI-powered spend analytics platform
- Leading procurement transformation across 50+ global affiliates creates immediate need for SpendKey’s strategic insights
2. Industry Sweet Spot
- Pharmaceutical industry’s complex regulatory environment, supplier risk management, and compliance requirements are ideal for SpendKey’s capabilities
- SpendKey’s proven pharma case study ($25M savings) provides direct credibility and relevance
- Pharma 1’s mid-sized scale (vs. mega-enterprise Novartis) offers better platform adoption potential
3. Strategic Transformation Focus
- CPO Pharma 1’s emphasis on “Digital Procurement Priorities” including productivity, risk resilience, and user experience aligns with Grundy’s transformation consulting background
- Both prioritize data-driven decision making and process optimization
- Shared focus on moving beyond tactical procurement to strategic value creation
4. Organizational Readiness
- Pharma 1’s active digital transformation journey indicates an organizational appetite for new solutions
- Global procurement complexity creates clear pain points that SpendKey directly addresses
- Mid-sized enterprise scale allows for more agile implementation compared to larger pharmaceutical giants
Secondary Recommendation: CPO Retail – Retail Company
Alignment Score: 8.5/10
Strong Alternative Choice:
Why This Works Well:
- Leading $8B+ spend transformation at 16,000+ store retail operation
- Explicit “digital and strategic transformation journey” mandate
- Grundy’s cost-optimization experience at Swinton Insurance translates well to retail’s margin-focused environment
- High transaction volume creates significant opportunity for SpendKey’s AI-powered insights
Why It’s Second Choice:
- Retail procurement may be less complex than pharmaceutical requirements
- Potential existing technology partnerships could create adoption barriers
- Less direct industry experience match for Grundy’s background
Why Not The Others:
CPO Pharma 2 (Pharma 2) – Despite strong pharmaceutical alignment, Pharma 2’s enterprise scale and existing digital maturity may view SpendKey as too niche versus comprehensive S2P platforms
CPO Public Sector (Public Sector) – Public sector procurement complexity and broader supply chain focus dilute alignment with SpendKey’s core spend analytics strengths
CPO Utilities (Utilities Company) – CEO-level role lacks direct procurement focus, and limited available information suggests weak strategic fit
Consensus Across Models:
All six assessment models consistently rank either CPO Pharma 1 or CPO Retail in their top two positions, with CPO Pharma 1 appearing as #1 in 4 out of 6 models. This convergence strongly supports the recommendation.
Strategic Rationale:
- Immediate Value Recognition: CPO Pharma 1’s specific focus areas directly match SpendKey’s capabilities
- Proven Market Success: Pharmaceutical industry represents SpendKey’s demonstrated success area
- Transformation Timing: Active digital procurement transformation creates optimal adoption window
- Scale Appropriateness: Global complexity without mega-enterprise implementation challenges
- Executive Credibility: Grundy’s consulting pedigree resonates with transformation-focused procurement leaders
Recommended Approach:
Lead with CPO Pharma 1 at Pharma 1 as the primary target, with CPO Retail at Retail Company as a strong secondary opportunity. The pharmaceutical sector alignment, combined with CPO Pharma 1’s specific procurement excellence mandate, creates the highest probability of successful engagement and value demonstration.
Executive Alignment Summary Table
Key Insights:
- CPO Pharma 1 appears in Top 2 in 5/6 models
- CPO Retail appears in Top 3 in 5/6 models
- Strong consensus around CPO Pharma 1 and CPO Retail as top-tier candidates
- CPO Utilities shows highest variance (Rank 1 in one model, Rank 5 in others)
TODAY’S TAKEAWAY
Keeping in mind that the Hansen Fit Score has 5 unique levels that are expandable to 12 Models, the above peek, as I call it, is based on the “agent-based” foundation that “technology doesn’t make people work, people make technology work.”
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Procurement Insights
Beyond The Hype: Taking The SpendKey Assessment To A Whole New Level!
Posted on July 3, 2025
0
The following image popped up in my LinkedIn feed this morning.
While I don’t want to sound cynical, however, I am a guy who grew up in an era when only the top 3 finishers received a medal or a ribbon, while the remainder had to contend themselves with the sentiment that they would have better luck next time.
Sadly, it seems that anyone and everyone in our industry is receiving some kind of award or acknowledgement for – let’s call it participation.
Before the image below popped up on my screen, I must admit that I had never heard of SpendKey. For me, that is not only an invitation to check them out, but also to do a Level 1 Hansen Score Fit check. In short, get those self-learning algorithms firing on all cylinders.
A consolidated 6-model Level 1 assessment generally had good things to say about SpendKey, with the following NOTABLE caveats across the board:
Based on the above, practitioners require more than just the Hype Cycle to engage with a ProcureTech solution provider like SpendKey. Let’s face it, the high generational ProcureTech initiative failure rate is hard to overlook.
A DIFFERENT LEVEL
So, how do you wade through the hype? How do you understand beyond features, functions, and benefits?
The following is a peek at what I mean when I say we need to take our assessments using a Metaprise, Agent-based, Strand Commonality model, e.g., the Hansen Fit Score, to an entirely newer and deeper level:
**SpendKey Executive Alignment Analysis**
Consolidated Recommendation
After analyzing six different assessment models, there is a clear consensus emerging around the top-tier candidates, with CPO Pharma 1 representing the strongest overall alignment with Alex Grundy and SpendKey.
Primary Recommendation: CPO Pharma 1 – Pharma 1
Alignment Score: 9/10
Why This Is The Best Fit:
1. Perfect Role-Solution Match
2. Industry Sweet Spot
3. Strategic Transformation Focus
4. Organizational Readiness
Secondary Recommendation: CPO Retail – Retail Company
Alignment Score: 8.5/10
Strong Alternative Choice:
Why This Works Well:
Why It’s Second Choice:
Why Not The Others:
CPO Pharma 2 (Pharma 2) – Despite strong pharmaceutical alignment, Pharma 2’s enterprise scale and existing digital maturity may view SpendKey as too niche versus comprehensive S2P platforms
CPO Public Sector (Public Sector) – Public sector procurement complexity and broader supply chain focus dilute alignment with SpendKey’s core spend analytics strengths
CPO Utilities (Utilities Company) – CEO-level role lacks direct procurement focus, and limited available information suggests weak strategic fit
Consensus Across Models:
All six assessment models consistently rank either CPO Pharma 1 or CPO Retail in their top two positions, with CPO Pharma 1 appearing as #1 in 4 out of 6 models. This convergence strongly supports the recommendation.
Strategic Rationale:
Recommended Approach:
Lead with CPO Pharma 1 at Pharma 1 as the primary target, with CPO Retail at Retail Company as a strong secondary opportunity. The pharmaceutical sector alignment, combined with CPO Pharma 1’s specific procurement excellence mandate, creates the highest probability of successful engagement and value demonstration.
Executive Alignment Summary Table
Key Insights:
TODAY’S TAKEAWAY
Keeping in mind that the Hansen Fit Score has 5 unique levels that are expandable to 12 Models, the above peek, as I call it, is based on the “agent-based” foundation that “technology doesn’t make people work, people make technology work.”
30
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