Tagged Content: Breaking News

SAP Announces Integration of Fieldglass and SuccessFactors

SuccessFactors SAP announced Tuesday the initial integration of the vendor management system (VMS) Fieldglass and the human capital management (HCM) solution SuccessFactors. Both Fieldglass and SuccessFactors are SAP solutions. SuccessFactors is used by enterprises to manage their employee workforces; Fieldglass, acquired by SAP in May 2014 for a reputed sum of more than $1 billion, enables the management of contingent workforce and staffing suppliers. With the integration, organizations will “now be able to upload data from Fieldglass into contingent profiles in SAP SuccessFactors Employee Central, making them visible to everyone in the organization through people searches and organizational charts,” the press release said.

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Field Nation Introduces a ‘Complete,’ Comprehensive Field Workforce Management Solution

independent workforce Field Nation, a WIP that enables businesses to engage and orchestrate various types of technical field services workers, has announced a new platform extension called Field Nation Complete. Complete allows businesses to now seamlessly manage not just directly engaged independent contractors, but also employee workers and the field services workers of third-party service delivery providers, giving businesses and service delivery providers the capability to plan and manage an entire field workforce comprehensively.

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ICon Acquires Synergy Services — Independent Workforce Ecosystem Continues to Take Shape

acquire ICon Professional Services announced Monday its acquisition of Synergy Services for an undisclosed amount. The two companies are, at their core, providers of compliance and payment services that allow organizations to engage independent workers. We had the opportunity to talk with ICon CEO Teresa Creech and Synergy Founder and CEO Tim Miller to gain some additional insights into the acquisition and the rationale of combining the two companies.

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Tradeshift Releases Corporate Buying Solution: Tradeshift Buy

- September 29, 2015 5:05 PM | Categories: Analysis, Breaking News, Industry News, Technology

Tradeshift Tradeshift announced today it released its new corporate buying solution, Tradeshift Buy, which the company said will increase visibility, improve spend management and add product content opportunities for buying organizations. Check out our initial analysis.

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Field Nation Raises $30 Million of Private Equity Funding, Bringing More Capital to WIP Space

- September 10, 2015 9:01 AM | Categories: Breaking News, Finance, Industry News, Technology

Field Nation Work intermediation platform Field Nation announced Thursday it closed a $30 million investment round led by Susquehanna Growth Equity. This funding event represents strong investor confidence in Field Nation’s potential, as well as a continuing flow of capital into the emerging work intermediation platform (WIP) space. From a services procurement and contingent workforce management standpoint, this investor backing further validates our view that WIPs will continue to evolve to become a significant part of the contingent workforce ecosystem.

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Tradeshift Acquires Product Information Management Provider Merchantry

- August 11, 2015 11:15 AM | Categories: Breaking News, Invoicing, M&A, Technology

Screen Shot 2015-05-04 at 17.59.53 Tradeshift announced Tuesday the acquisition of Merchantry, a leading cloud-based product information management (PIM) provider, for $30 million in cash and stock. While Merchantry has traditionally focused on sell-side and retail product information management, its technology is a close fit with what is necessary to enable catalog content management for procurement – and deeper in a range of areas based on past use case support.

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Infor to Acquire GT Nexus: ERP + Global Trade = New Network Vision

- August 11, 2015 10:29 AM | Categories: Breaking News, Industry News, Technology, Trade Financing

acquire Infor announced Tuesday it was acquiring GT Nexus for $675 million. The transaction is expected to close before the end of September, based on regulatory approval. Infor has a long history of financially-driven acquisitions that keep investors happy and deliver enough innovation to customers to keep them on their systems. But the GT Nexus deal appears to be something more. The worlds of ERP and global trade are so sufficiently different that to combine 2 companies serving these markets effectively will require a new approach and vision – or as CEO Charles Phillips labels it, “postmodern ERP.” Indeed it is.

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Virtual Assistant Platform Zirtual Suddenly Suspends Operations – Buyer Beware

services procurement The virtual assistant company Zirtual suspended operations without warning Monday, freezing all accounts and leaving both clients and their assistants effectively “locked out.” The company, headquartered in Las Vegas, sent an apologetic email in the early morning indicating it would be “pausing all operations.” The email explained further that “due to a combination of market circumstances and financial constraints we must re-organize our current structure.” Spend Matters came to know about this early today, because we were a happy customer of Zirtual phoned up by our Zirtual assistant, who gave us the news.

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InvoiceSmash Acquisition: Coupa Attempts to Smash Other E-Invoicing and Supplier Networks

- July 7, 2015 11:20 AM | Categories: Breaking News, M&A

acquire Coupa announced Monday it had acquired InvoiceSmash, an upstart vendor from Australia that looks somewhat similar, on the surface, to the type of PDF extraction e-invoicing services offered by providers like Transcepta and Tradeshift, among others, that extract data and metadata from documents and then present them in an easy to leverage format from an accounts payable automation.

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Oildex Acquires OpenInvoice from ADP: History, Facts and Initial Analysis

- June 30, 2015 6:01 AM | Categories: Accounts Payable, Analysis, Breaking News, M&A, Technology

Businessman hand touching M & A on virtual screen - merger & acquisition concept Oildex, a service of Transzap Inc., announced Monday it acquired procure-to-pay provider OpenInvoice from Automatic Data Processing Inc. Spend Matters was aware that ADP had entered into a formal process many months ago to sell the OpenInvoice business line, which it originally acquired in 2010 from Calgary-based DO2 Technologies, also known as Digital Oilfield. Oildex is well known in the oil and gas industry for its core invoicing and supplier on-boarding capabilities, which enable business-to-business and financial systems integration. With the addition of OpenInvoice products to its value proposition, Oildex will strengthen its position and services offering by delivering improved integrated capabilities.

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Perfect Commerce Offers to Acquire Hubwoo

- June 10, 2015 5:16 AM | Categories: Breaking News, Industry News, M&A

Pay-Off Hubwoo announced yesterday that Perfect Commerce has made a cash offer to buy all the shares in the Paris-based procure-to-pay software company for €26.6 million (about $30 million). This equates to a share price of €0.19 Euros – a near-36% premium over its last share price. This "bargain basement" purchase price (slightly less than 1 times of trailing revenues) could put the struggling Hubwoo under the control of a parent corporation registered in Luxembourg (even though Perfect is a decidedly US-centric firm). Spend Matters will follow up on this news with detailed analysis and implications of the deal, but our initial thoughts point to an opportunity for Perfect to expand its customer base, geographic presence and its supplier network capabilities – and also a way to defibrillate Hubwoo, which has been floundering since SAP acquired Hubwoo’s largest competitor Ariba. Members of the Spend Matters team react to the news, offering their initial analysis.

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IBM and Procurement Transformation: By the Numbers, Risk Management and More

FullSizeRender Earlier this morning, on the final main stage of Coupa Inspire, Michael O'Leary, director of procurement offerings and strategy at IBM Commerce, shared the IBM procurement transformation story. Michael has a background in procurement, playing a leading part with IBM’s internal transformation charge before shifting to the product/solution side of the business. And, at the start of his talk, Michael noted that IBM’s total procurement spend (including client spend) now stands at $52 billion annually. IBM counts 17,000 suppliers across 100 countries within its supply base (after significant supplier rationalization efforts). From a numbers perspective, IBM’s procurement performance KPIs and performance improvement metrics are more than impressive.

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