In Case You Missed It … Procurement and Supply Market Roundup

We can't comment on every press release that hits our desks, but here are a few market news stories this week that we thought we should bring to your attention, and some of our own you may have missed - we'll have more from our analysts in the coming days  ...

Basware e-Invoice Sending and Receiving Is Integrated with Oracle Cloud

Basware, global e-invoicing specialists based out of Finland, has announced that its e-Invoice Sending and Receiving solutions have been integrated with Oracle Cloud. Basware’s service suite is now available in the Oracle Cloud Marketplace, where Oracle customers go to find trusted business applications and service providers offering business solutions that extend Oracle Cloud Applications. The Basware Network enables companies to send and receive e-invoices with their trading partners globally through a single connection. Read more on Paypers.

Construction Spending Shrinks for 3 Consecutive Months

UK construction spending shrunk for three consecutive months in the lead up to July, and new orders are down for four months in a row. Firms are responding to the contraction by cutting back on staff and subcontractors, and expectations are that this could ripple through the supply chain according to IHS Markit. Read more on Reuters. The US Census Bureau also reported a drop in construction spending compared with last year.

Elemica Receives Major Investment

Cloud-based digital transformation solutions provider for the process industry, Elemica, has announced a major fund injection from France-listed leading global investment firm Eurazeo. The partnership will aid Elemica to accelerate its global growth and develop its product line, expand its portfolio into new markets and invest in Next Generation technologies. Read the full press release here.

Procurement Leaders’ World 50 Acquisition: Questions Raised

Spend Matters has published part 1 of an in-depth look at the recent Procurement Leaders acquisition. In this Pro and Nexus article (subscription required but a preview is available here) Spend Matters analysts look at the company overview, the questions raised following the acquisition and how the two business models might evolve.

C2FO Procurement Platform Receives $200m Injection To Expand

Procurement platform firm C2FO which helps companies better manage their cash flow, has raised a $200 million venture funding round led by the Softbank Vision fund. This series G raise will help expand the platform's reach in new industries and into middle-market buyers. “This type of alternative fintech startup is gaining popularity with investors,” says CFO Dive. Said the C2FO CEO: “Faster, cheaper working capital can speed up economies and facilitate growth for suppliers of all sizes.” Read more here.

Procurement Analyst Interviews

We thought it was about time our readers got to know our procurement analysts better to understand who is behind our vendor and tech research and analysis. Here are our first three podcasts in a series of interviews.

The Procurement Analysts’ Reel Episode 1 - An Interview with Nick Heinzmann

The Procurement Analysts’ Reel Episode 2 – An Interview with Andrew Karpie

The Procurement Analysts’ Reel Episode 3 – An Interview with Jason Busch

 

And in other news ...

KKR Is Buying Majority Stake in European Payments Provider heidelpay

Europe’s Battery Leadership Can Help Clean Up the Global Metals Supply Chain

Weidmüller Partners with JAGGAER for Digital Transformation of Supplier Management and Procurement Processes

Accenture UK's New Leadership Team for Scotland

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