Author Archives: JP Morris

10 Tips for Women-owned Businesses Seeking Government Contracts

For Spend Matters’ weekly focus on public procurement, we take a look at Public Spend Forum’s 10 tips for how women-owned small businesses can succeed in government contracting. The public-sector opportunity for women-owned business has improved somewhat in recent years. In 2017, the government hit a goal of having 5% of its contracts go to companies owned by women. That percentage represents $17.8 billion, so there’s more money to be made. PSF sees this as the new baseline, with a lot of room to grow above the 5%. To help do that, it offers these 10 tips:

Certify, Chrome River to Merge Their T&E, Invoice Management Prowess

Certify and Chrome River Technologies, two travel & expense providers who also offer invoice management software, will merge in a deal that’s valued at over $1 billion, a statement Tuesday said. It also realigns the market and makes the investor in the transaction an even bigger player in this sector, two Spend Matters' analysts said. Portland, Maine-based Certify and L.A.-based Chrome River initially will operate separately but will collaborate on investing in technology like artificial intelligence, machine learning, analytics and reporting, the announcement said.

Afternoon Coffee: Upwork Updates Its Post-IPO Financials; Proactis, Basware Stocks Fall

Upwork, the global online freelance marketplace enterprise solution company, reported its first fiscal year financial results as a publicly traded company. On the positive side, the company is continuing to grow. Revenue for FY 2018 rose 25.1% year over year to $253.4 million. And in market news, stocks for Proactis and Basware to big slides. Afternoon Coffee brings you the latest in procurement and supply chain news.

Government Contracting: 5 Trends to Watch

It’s time to check in with Public Spend Forum, a sister site of ours, to see how knowing about trends in government contracting can improve your chances of landing those contracts, help you take advantage of emerging services and expand your business. Its story on government contracting focuses on five trends.

Afternoon Coffee: Economy’s Solid 2018 in GDP Likely to Weaken; Proactis Nets $26.5 Million in Funding

According to GDP figures released Thursday, the U.S. economy last year had a solid performance that lagged toward the end, tamping down expectations for this year, the Associated Press reports. Proactis, a UK-based procurement software company that focuses on global spend management and e-commerce, on Thursday announced that it received about $26.5 million from HSBC UK to help it market new technology. Afternoon Coffee brings you the latest in procurement and supply chain news.

Updated: Basware-Tradeshift Talks for M&A Fall Through

Global Risk Management Solutions (GRMS)

Procure-to-pay provider Basware on Thursday announced that Tradeshift’s talks to buy it have been called off. In November, Finland-based Basware confirmed that it was in talks to be acquired, but it didn’t disclose the other company. Later, reports indicated that Tradeshift, a U.S.-based provider of solutions for supply chain payments and marketplaces, was seeking to buy Basware.

Afternoon Coffee: Bonfire Customer Service Honored; Detroit’s Bet on China Sours; UK Signs WTO Procurement Deal for after Brexit

U.S. automakers once flocked to China, which offered plenty of buyers and cheap labor, but now things are changing there. The New York Times looks at the shifting landscape in China and how the plans for Chrysler, Ford and GM are starting to sour, the Times says. And Britain inked a public sector procurement deal Wednesday with the World Trade Organization that gives it some trade continuity once it leaves the European Union in the Brexit saga, the Associated Press reports. Afternoon Coffee brings you the latest in procurement and supply chain news.

Afternoon Coffee: AT&T-Time Warner Deal Wins Appeal vs. Trump Justice Dept.; Tipalti Adds Foreign Currency Exchange Solution

A federal appeals court on Tuesday ruled that a lower court judge didn't err when approving the $80+ billion AT&T-Time Warner merger that the Justice Department opposed, The Wall Street Journal reports. And Tipalti, a provider of global payables automation platform, on Tuesday announced the launch of a foreign exchange solution called Multi-FX. It allows customers to fund their Tipalti account in a single currency and then convert that money to a local currency for payouts. Afternoon Coffee brings you the latest in procurement and supply chain news.

Afternoon Coffee: Tariff Delay Boosts Stocks; Barrick Gold Bids $18 Billion for Mining Rival Newmont

The March deadline to raise tariffs against China has been delayed, lifting stocks on the hopes that the U.S.-China trade deal is making progress, the Associated Press reports. On Monday, Trump also said oil costs were too high, and the price fell later in the day, CNBC reports. And Barrick Gold Corp. has made a $17.85 billion bid to buy Newmont Mining Corp. and create the world’s largest gold mining operation, The Wall Street Journal reports. Afternoon Coffee brings you the latest procurement and supply chain news.

Kraft Heinz Has Procurement Problem, Takes $25 Million Charge after SEC Inquiry, WSJ reports

Kraft Heinz’s procurement division had an accounting problem that led to a Securities and Exchange Commission investigation and a $25 million charge in the fourth quarter, the Wall Street Journal reports. The amount pales in comparison to the company’s other bad news Thursday — when it said it wrote down the value of its Kraft and Oscar Mayer brands by $15.4 billion dollars and it slashed dividends, sending the stock down 20% at one point, the Journal reports.

Afternoon Coffee: EU to Target Caterpillar, Xerox if Trump Puts Tariffs on Car Imports; U.S.-China Trade Summit in March?

With the Trump administration set to rule on possible tariffs on auto imports from Europe, officials there have a planned response: Target U.S. brands like Caterpillar, Xerox and Samsonite luggage, a senior EU official tells Bloomberg News. And the U.S. and China are discussing a late March summit for the nations’ leaders to discuss a trade deal, reports CNBC, which also says that China has agreed to buy $1.2 trillion in U.S. goods. Afternoon Coffee brings you the latest in procurement and supply chain issues.

Public Spend: A Look at 4 Value Levers for Public Procurement

It’s time to check in with Public Spend Forum, a sister site, to see what’s happening in public procurement. This week, we’ll focus on an article that offers some in-depth tips on four value levers for public spend. PSF offers a simple list — and then a lot of detail about each item. Click above for the highlights.