Afternoon Coffee: Tradeshift Reports $1.2 Billion Valuation; ASCM Launches from APICS’ Roots

Tradeshift, the San Francisco-based provider of solutions for supply chain payments and marketplaces, released an earnings update Tuesday.

It said its year-over-year revenue grew 178% and that its valuation has hit $1.2 billion.

“2018 was a record-setting operational year for us,” Christian Lanng, CEO and co-founder of Tradeshift, said in the statement. “It’s been so gratifying to see huge Fortune 500 global companies recognize the transformation they can drive in their businesses by using the Tradeshift platform. The proof is in the numbers — the deals we sold this year were incredible. I don’t see us slowing down anytime soon.”

‘Pivotal Shift in Our Industry’

The Association for Supply Chain Management officially launched its new organization as it’s evolving from APICS, which will continue to offer APICS certifications and training, ASCM said in a press release Tuesday.

“Just as businesses are tearing down the walls between supply chain functions, so too should supply chain associations,” said ASCM CEO Abe Eshkenazi, in the press release. “By creating ASCM, we are acknowledging this pivotal shift in our industry, not only through individual learning and development, but with larger corporate transformation in mind as well.”

Eshkenazi announced the change in the fall and talked with Spend Matters at its annual meeting, in Chicago. As supply chains become more deeply integrated with all aspects of a company’s operations, solely developing the supply chain professional would no longer be enough, he said then.

“We want to be closer to where supply chain is going, as opposed to trailing the industry by two or three years,” Eshkenazi said in the fall. Read the full story here.

MBO Hires Marketing SVP

Contingent workforce specialist MBO Partners announced Tuesday that it is hiring Bryan Peña as senior vice president and chief of market strategy. Peña, who had been with Staffing Industry Analysts (SIA) for more than a decade, will join Virginia-based MBO in March, the announcement said.

“Bryan is a highly accomplished executive who has worked with some of the world’s leading enterprises to build programs that will affect our industry for years to come,” Gene Zaino, MBO’s founder and CEO, said in the announcement. “I am excited to see Bryan apply his knowledge, talents, and expertise to help enterprises reinvent how work gets done, aligning them with the growing workforce of millions of talented professionals who have learned that working independently is more rewarding, more satisfying, and offers more choice than traditional employment.”

Tungsten Updates Its Solution

Tungsten Network on Tuesday announced an update to its accounts payable automation product, Workflow 5.0, the UK-based company said in a press release.

“The latest version introduces a range of new features, like a new reporting tool replete with options to make it even easier to create robust, comprehensive reports. The new application performs faster and has an entirely new look and feel, allowing for a more intuitive user experience. It is also available on mobile devices, so users can manage their invoices more dynamically,” the release said.

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