Global supply chains are becoming increasingly “digitized,” as companies improve business processes and operate more efficiently using new technologies. Suppliers are investing in more advanced technologies and buying organizations are implementing more advanced solutions to procure goods and services. Manufacturers, specifically, are feeling the impacts of the growing digital world. A recent survey of manufacturers by the MAPI Foundation shows supply chain pressures are driving automation activity in the manufacturing industry.
Category Archives: Industry News
Lystable, a provider of a technology solutions that allows enterprises to manage their independent workforce and services suppliers, has secured an $11 million investment in a round led by Peter Thiel's Valar Ventures, Goldcrest Capital and Spring Partners. The funds will be used to accelerate market entry and expansion in the U.S. and ongoing execution of the company’s business and product strategy.
Last week at the SAP Manufacturing Industries Forum in Lombard, Illinois, we got a glimpse into how Toyota Material Handling North America is helping its customers with information about the equipment they use and how TMHNA manages all of that collected user information using SAP's Hana database management system.
Spend Matters welcomes this guest post from Paul Robinson, principal economist at IHS.
Trucking costs are due to rise, so where possible, locking in rates near current levels will yield savings. Rising oil prices are filtering through to fuel prices and finally to trucking rates, hitting the industry as it also grapples with the ongoing driver shortage. The most likely response to that shortage is that wages will also have to rise, giving further support to rising rates.
In a surprising move, Microsoft announced Monday an all-cash deal to acquire LinkedIn for $26.2 billion, the equivalent of $196 per share. LinkedIn is a significant player in the talent acquisition and recruiting space. Revenue from its Talent Solutions business unit accounted for $558 million, or 65% of total revenues, in Q1 2016, and grew 41% year-over-year.
Jason is off on a well-earned vacation, so I thought I’d chime in on Tradeshift’s latest funding round. It’s good to see healthy providers that are attracting investment to fund the innovation that the procurement, finance and supply chain space so desperately need. To me, the latest funding round demonstrates three things.
Tradeshift raised $75 million in a recent Series D funding round, bringing the P2P platform provider’s valuation up to nearly $600 million. Data Collective led the latest funding round, and other investors included HSBC, American Express Ventures, CreditEase Fintech Investment Fund, Notion Capital and Pavilion Capital. Tradeshift, which now has a user base of more than 800,000, has reportedly raised $205 million total this year and is on track to bring in $50 million in revenue.
Sovos Compliance announced this week it will acquire Invoiceware International, a Latin American electronic invoicing solution provider with bases in the U.S. and Brazil. Sovos, a tax business-to-government compliance software company, said it plans to expand Invoiceware’s capabilities for the Latin American region, where governments have strict e-invoicing and tax reporting regulations in place. Sovos also plans to provide a multicountry e-invoicing platform, which will aim to help companies operating in Latin America better comply with government e-invoicing reporting mandates.
Like many others working in procurement, Terry Applegate didn’t necessarily intend on spending her entire career in the field. But one of her first jobs out of college as a buyer for a small electronics company was enough to spark her interest in procurement. After nearly 35 years in the field, Applegate has gone from entry-level buying positions to higher roles like serving as managers, vice presidents and directors of procurement and sourcing organizations at multiple companies. She now serves as vice president of global contract operations for the global procurement department at Deutsche Bank.
Earlier Tuesday, private equity firm Thoma Bravo, which also owns healthcare procurement and supply chain technology provider GHX, announced it will be acquiring Elemica, a solution and platform-as-a-service (PaaS) provider that was one of the last “captive” investments left over from the initial B2B marketplace era. Elemica started as an industry consortium electronic marketplace (e.g., chemicals, plastics, rubber, energy) and largely existed to provide technology and solutions (e.g., sourcing services) as a shared service to its owners.
As we noted in our initial coverage of the announcement, private equity firms appear to be circling the procurement market. The deal is most similar to the Insight Venture Partners acquisition of E2open and also comes on the heels of the recent announcement that Accel-KKR will be acquiring SciQuest, which itself started as an electronic marketplace of life sciences supplies.
Supply chain operating network provider Elemica will be acquired by private equity firm Thoma Bravo LLC. The two companies announced the deal earlier today but did not disclose financial details. In a press release, the two companies said the acquisition will allow for a greater focus on resources and investing in next-generation technologies and expand Elemica’s supply chain solution capabilities. According to Elemica CEO John Blyzinskyj, the acquisition also means a faster time-to-market for supply chain solutions.
Procurement organizations working with suppliers in Brazil may be putting their companies at risk. A new report says companies operating in Brazil pose the highest cyber risks for vendors and business partners due to poor security practices. The report comes from BitSight Technologies, a Cambridge, Massachusetts-based firm that provides security ratings to help companies manage third-party risks. BitSight examined a random sample of 250 companies per country in Brazil, China, Germany, Singapore, the United Kingdom and the United States