Afternoon Coffee: New duties slapped on structural steel from China, Mexico; Coupa earnings update; Bennigan’s owner in new procurement partnership

The U.S. Commerce Department announced it had imposed duties on Chinese and Mexican structural steel. Reuters reports the new duties were put in place after initial enquiries showed that producers in both countries had dumped fabricated structural steel on the U.S. market at prices below fair market value.

Coupa growth attributed to additional customers

Coupa, the procurement software provider for a suite of solutions for business spend management (BSM), released its second quarter financial results this week, and customer growth helped the firm report numbers that beat estimates, according to Zacks Equity Research on Yahoo!

“The top line was primarily driven by expanding customer base,” the article states. “Further, rising adoption of Coupa’s platform is bolstering subscription services revenues.”

Subscription revenues are expected to be $86 million to $87 million, Coupa announced.

"We delivered a strong second quarter with record revenues of $95 million, up 54% year-over-year, and calculated billings of $108 million, up $57% year-over-year," Rob Bernshteyn, chairman and chief executive officer at Coupa, said in an announcement. "These results demonstrate our continued momentum in delivering measurable and repeatable value to our customers. By extending our leadership standing in business spend management, we feel well positioned on our path to $1 billion in revenue."

Check out further analysis of Coupa’s financials from Spend Matters Nexus, a market intelligence resource for investors, boards and CEOs, right here.

These are the 5 new-age challenges being solved by supply tech

Many consumers are unaware of it, but supply tech is responsible for solving many challenges in the world we live in today. There are many next-gen tools that help overcome these challenges, eventually augmenting the efficiency of the supply chain for businesses moving forward, according to this report by Entrepreneur.com.

Owner of Bennigan’s, Steak and Ale partnering with Entegra

The owner of restaurant brands Bennigan’s and Steak and Ale has announced a strategic partnership with entegra Procurement Services. This will help the former work within a network of leading suppliers who offer the best in quality, value and price.

Tech leaders warn: trade war could lead to fractured supply chains

The U.S.-China trade war has made tech leaders in Asia issue a warning that risks from ongoing trade tensions were increasing, reports Bloomberg.

“The risk of the tension of the nature we see between the U.S. and China — the two largest economies — is that we may end up with a global economy that’s fragmented and supply chains that are fractured,” said Singapore’s Communications and Information Minister S. Iswaran. “That supply chain and fragmentation pertains to markets, investment flows and cooperation in terms of technology as well.”

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