Afternoon Coffee: BravoSolution Unveils BravoAdvantage 17, Genpact Acquires Rage Frameworks

BravoSolution announced this week the launch of the latest version of its procurement platform, BravoAdvantage 17. The latest update offers new features for business analytics, integrated procure-to-pay functionality and spend management and sourcing capabilities, according to a press release.

“Whether you are looking to uncover bottom-line savings, foster supplier innovation, reduce risk or automate and digitize critical procurement processes — BravoAdvantage puts procurement in a position to thrive,” said Jim Wetekamp, CEO of BravoSolution. “This release marks the largest update to the BravoAdvantage suite ever, and represents our commitment to taking a great product, listening to our customers and making it even more powerful, fully functional and easier to use than ever before.”

Genpact Acquires Rage Frameworks

 BPO firm Genpact announced recently it had acquired Rage Frameworks, a company offering knowledge-based automation technology and services providing artificial intelligence (AI) for enterprise clients.

"As advanced technologies such as AI fundamentally change the definition of work, the ability for CXOs to find and leverage new solutions that combine the best elements of human expertise and machine intelligence, will be critical to their ability to gain and sustain competitive advantage,” said NV ‘Tiger’ Tyagarajan, president and CEO, Genpact. “In this time of unprecedented change, clients are looking for a different kind of partner – one that is able to combine the latest technological advances and real-world domain expertise with a deep understanding of their business to create meaningful transformation. The addition of Rage enhances our ability to do that and to drive digital-led innovation at scale.”

Lystable Series A

Freelancer collaboration platform Lystable announced Thursday it had added $10 million to its Series A funding, doubling the company’s valuation since June of last year. Valar Ventures, founded by Peter Thiel, James Fitzgerald and Andrew McCormack, led the additional financing with participation from earlier investors Max Levchin’s SciFi VC (formerly HVF Investments), Kindred Capital and Goldcrest Capital, as well as new investors Glynn Capital and Wilmont Ventures, according to a press release.

Eurozone Growth

 Surveys of purchasing managers by IHS Markit indicate the eurozone’s economy may have picked up in the first quarter of 2017, the Wall Street Journal reports. The preliminary data could be the first sign that the European Central Bank will moderate its stimulus measures over the coming year.

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