Tagged Content: L2

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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iPaaS 101: What Is It and Why It Matters

business hand holding a touch pad computer and 3d streaming images After many years of relentless bombardment with acronyms like SaaS, IaaS, PaaS and BPaaS, I would not blame procurement professionals if they were shell-shocked, cynical and unresponsive when yet another term joins this list. Still, the reality is that all of these acronyms have been useful designators of significant milestone developments tracing the increasing virtualization of information technology, from collections of assets that businesses owned and managed to what in effect are services that can be consumed with relative efficiency and flexibility. The most recent of these acronyms, iPaaS, may be the most relevant of the series acronyms since SaaS, when application software shifted from something installed and managed on-premise to being a virtual service or cloud offering.

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A Critical Take on M&A in Procurement Technology

- June 25, 2015 6:15 AM | Categories: M&A, Solution Providers, Technology

photodune-3111204-payoff-xs1-228x138 My colleague Michael Lamoureux, who runs the blog Sourcing Innovation and is also a contributing analyst at Spend Matters, recently posted a critical take on the state of M&A and procurement in which he argues that, despite rising M&A activity within the extended procurement technology ecosystem, the deals often makes less sense for firms to come together than it should. But is he right? As someone who has directly been involved in over a dozen transactions in the past few years, I think Michael makes a number of solid points but misses the mark in terms of why deals get done, as well as many of the more subtle reasons behind the 1+1=3 synergies many of the providers in the space that have done deals are starting to realize.

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US Coffee Consumption Expected to Drop, But Supplies Remain Strong

- June 24, 2015 6:14 AM | Categories: Commodities, Industry News, Price Forecast

6K63VQ75CB Are Americans getting more sleep? Turning increasingly to tea? There must be some explanation for the latest forecast from the US Department of Agriculture that shows Americans will actually be consuming less coffee in the coming year. Turns out, the single-cup coffee maker is playing a major role in how much coffee Americans are drinking and are expected to consume throughout 2015 and 2016. According to the USDA report, the US will consume 23.7 million 60-kg bags in 2015/16. During 2014/15, consumption was at 24 million bags. Consumption has been growing steadily since 2010, but now will take a dip for the first time in a long time.

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Can SupplierPay Link Supplier Diversity to Early Payment?

- June 23, 2015 6:11 AM | Categories: Diversity, Supplier Management, Suppliers, Trade Financing

Dollar sign US-based supplier diversity programs often represent one of the true success stories of niche-based initiatives that can have real impact with limited budget and resources. Most programs at larger companies still only have a single or handful of dedicated resources and budgets – at best – for supporting technology and data enrichment to manage and track supplier credentials, and reporting pales in comparison to other procurement solution areas. Yet the quantification of program results, including those in which diversity improvement is mandatory in government supply chains, often speaks for itself. Might early payment programs, either by requirement or encouragement, be the next logical step to link to supplier diversity efforts?

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Companies Can’t Get No VMS Satisfaction: Exploring the HR Disconnect With Services Procurement Technology

dropped-failure-ice-cream-4091 In a recent multi-phase poll by Spend Matters and the Institute for Supply Management, we explored the poor adoption of services procurement technology within buying organizations. This lack of adoption (at least with best of breed tools) would appear to have a relationship with why so many companies aren’t managing external labor supply chains as efficiently as direct materials ones – and aren’t satisfied either with their program results. In this article, we share a number of responses we received from study participants on the apparent disconnect between procurement and HR and adopting the best technologies available.

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3 Classes of Technology to Support the Distance-Based Procurement Equation

- June 19, 2015 8:04 AM | Categories: Procurement Commentary, Sourcing, Technology

abstract-dark-red-technology-background-111413C50B5CD94C Over the past few days, I’ve spent time exploring the concept that global procurement is dead – or at least the idea that global sourcing and managing global supply chains is truly par for the buying course today. I suggested thinking in terms of distance is more important when working with international vendors, rather than focusing myopically on country-specific concerns. In this final piece in our series of global procurement, I’ll share 3 different classes of technology I believe could become invaluable for addressing the distance equation when working with suppliers.

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Think Distance and Not Global in Procurement Around the World

- June 18, 2015 8:47 AM | Categories: Procurement Commentary, Sourcing, Supply Networks

crossroad-zebra-crossing-crosswalk-medium (1) Is global procurement as a stand-alone area of practice and expertise dead? I would argue a resounding, “Yes.” Global procurement has become simply procurement, albeit with one key exception compared with regional supply chains: distance. Factoring distance into the procurement equation, by targeting the intersection of the traditional supply chain with sourcing and procurement areas, is more important than ever. Read on to see the 4 specific areas for examination as distance replaces global in international procurement and supply chain management.

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The White House and SupplierPay: More Bark Than Bite

- June 17, 2015 6:22 AM | Categories: Supplier Management, Suppliers, Trade Financing

animal-dog-pet-dangerous-large When it comes to encouraging the use of e-invoicing, payment or trade financing standards and expectations, government moral suasion is terribly ineffective compared with government regulation and policy. Consider the case of the White House-led SupplierPay initiative compared with regional initiatives centered on e-invoicing adoption in Latin America. My colleague David Gustin recently opined on the topic on Trade Financing Matters – read on to hear what he had to say about it, specifically how the program lacks real teeth.

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Is Global Sourcing Dead? Introducing the ‘Distance’ Construct Instead

- June 16, 2015 8:39 AM | Categories: Analysis, Procurement Commentary, Sourcing

Globe I’ve long been an information junkie when it comes to reading up on different tips for global sourcing. Even though I don’t “do” it anymore like I used to – with the stomach scars from eating insects and drinking alcoholic Drano in China (and worse) to show for it – I attempt to stay on top of observations and recommendations from others still engaged with it. As one example, Adam Brosch, a practitioner from Berlin Packaging, recently shared his thoughts on 6 global sourcing risks and how to mitigate them. His tips are basic but succinct – and would certainly be of use for those getting their feet on the ground globally for the first time.

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Guided Buying Needs More than an Attractive User Interface

app-store-device-macbook-air-1171-825x550 Yes, user interface is important for any program. The user must be able to, well, actually use a tool for it to be effective. No one is arguing that. What Pierre Mitchell, chief research officer of Spend Matters, did argue recently over on our Chief Procurement Officer website is that a "consumerized e-procurement 'guided buying' experience is more than a sexy simple user interface." In the CPO article "Putting the Steak Before the Sizzle in Consumerized B2B E-Procurement," Pierre talks about what truly makes an effective guided buying tool, as well as how to implement one. Make sure to head over to our CPO website to read the full article, or click here.

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Week in Review: An M&A, Industry News and Conference Coverage Roundup

- June 15, 2015 6:22 AM | Categories: Analysis, Conferences, Industry News, M&A

tumblr_mx1olyYcw11sfie3io1_1280 The last week as been a busy one for the procurement world, with an acquisition announcement coming from the P2P software space, another provider announcing a new platform and our Spend Matters analysts scattered around the globe covering industry conferences. If you missed any of our coverage on these events, no worries – we have rounded up our recent articles on these topics, giving you an inside look to the latest news coming out of the industry in the past week.

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