Exploring Periscope Holdings’ Acquisition of BidSync Thomas Kase - December 16, 2014 10:08 AM | Categories: Analysis, E-Sourcing, eProcurement / Procurement, P2P, Public Sector | Tags: General News Earlier today, Spend Matters PRO provided a detailed look at BuySpeed and BidSync, 2 providers joining forces (along with the parent company Periscope Holdings and the core investor, Parthenon Capital) to target state and local government and the higher education market. The combination creates some degree of consolidation in the still highly-fragmented and under-penetrated market for procurement solutions within state and local government and higher education. FREE Research: A Foundational Look at P2P Technologies Here are some of the highlights from our analysis: “Together, the combined organizations will find themselves with greater scale to take on SciQuest, Ariba/SAP, Perfect Commerce and others vying for the state, local and higher education market.” “The combination of BuySpeed (Periscope) and BidSync is not an unexpected consolidation in public sector procurement area. The combined entity has deeper reach (and pockets), as well as more capacity than the individual parts.” “From a suite perspective, BidSync brings a source-to-settle solution, delivered via SaaS, and with a high (95%) level of retention on the e-procurement side. Typical of public sector firms, the solution is centered around the requisitioning and procurement process – with sourcing, contracting and purchasing supporting the core.” “BidSync currently has more than 70 direct pay clients (non-channel/partner) … and a supplier database” “Periscope/BuySpeed is strong in the state, local and higher education verticals with most of its deals at the state level. It is not actively working in the federal sector…” “BuySpeed provides a full source-to-pay suite – a combination that seems to have cracked the proverbially nut of public sector procurement needs (in contrast to a point solution approach).” “From a business model perspective, Periscope charges fixed fees and is paid directly through its government clients.” Spend Matters PRO subscribers can access the full research brief here. For further reading, we also include content from the company’s press release: About Periscope Holdings, Inc. Periscope Holdings, Inc., offers an e-procurement software suite, BuySpeed™, and holds the exclusive license to maintain, enhance and market the NIGP Commodity/Services Code, and manages the NIGP Consulting Program, which provides a wide range of procurement transformation services, including procurement strategy development, organizational assessments, relevant benchmarking, process reviews and strategic sourcing services. About BidSync BidSync offers cloud-based, end-to-end e-procurement solutions that help public sector agencies streamline their procurement process, maintain compliance, reduce costs, enable transparency and save time. The comprehensive solutions deliver cross-functionality through the entire procurement process from request to settle. BidSync also delivers bid notification services to 800,000 vendors nationwide. BidSync has 15 years of experience and its award-winning solutions have been relied on by more than 1,000 public sector agencies nationwide. About Parthenon Capital Partners Parthenon Capital Partners is a mid-market private equity firm based in Boston and San Francisco. Related ArticlesPeriscope Holdings (BuySpeed) Acquires BidSync – Background and Vendor Analysis P2P and ERP Integration: Thinking Through Data Quality and Overall Key Success Factors ERP and P2P Integration: Key Success Factors For Successful Implementations MarketMaker4 – Not Just E-Sourcing But Also an Information Platform for SourcingE-Sourcing Solution Review: MFG.com LiveSourceE-Sourcing Solution Review: POOL4TOOLThe E-Sourcing Market in 2014: Recommendations, Changes, and Vendor Risks Discuss this: Cancel reply Your email address will not be published. Required fields are marked *Comment Name * Email * Website Notify me of follow-up comments by email. Notify me of new posts by email.