Provade Raises Cash to Target Procurement Outsourcing

Frequent readers of Spend Matters know that one of my areas of interest is Spend Management BPO, a nascent sector within the broader outsourcing market. It's also one of my big question marks for 2006. So given procurement outsourcing's only moderate growth to date, I read it as a good sign when a young provider is able to raise a funding round to go after the sector. The vendor I speak of is Provade, a focused Spend Management BPO provider that is offering outsourcd procurement services around specific categories including labor, legal, catalog, and facilities management. To keep costs down, Provade is using Oracle's procurement application, while layering on expertise and additional services of its own to differentiate itself in specific categories. To me, Provade's approach seems like a new take on the ICG Commerce business model.

Jason Busch

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