Spend Matters 50/50: Arachnys – A Provider to Watch in 2015

Arachnys is one of our 50 Providers to Watch. We will be highlighting 100 companies (50 to Know, 50 to Watch) from our 2015 Spend Matters Almanac over the span of 100 days. Practitioners are encouraged to browse the categories listed in our Almanac to find the provider that best fits their needs. We met Arachnys around a year ago, and the firm, which has the tagline “instant worldwide due diligence,” quickly struck us as a strong candidate for our 50 to Watch list. Based in London and with an office in New York as well, the firm was founded in 2010 by David Buxton, who previously worked as an "investigator" for global risk consultancy Control Risks in Russia and Eurasia, which sounds exciting and probably was.

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Lessons From the Bagel Man to Tackle Procurement Fraud

Spend Matters welcomes this guest article by Somdipto Ghosh, Product Marketing, Zycus. In the year 1984, Paul F. decided to make a radical career transition from heading a public research group to selling bagels at corporate offices. He devised a unique “honor system” where he would leave bagels and a cash basket in company cafeterias in the morning and return in the evening to collect the payments. His business flourished and soon he was selling 700 dozen bagels a week to 140 companies. Over the course of many years in business, he documented and analyzed the fraudulent activities of his clients and leveraged his background in research to find unique irregularities.

Business Intelligence to Transform Procurement