Afternoon Coffee: Coupa Announces Continued Momentum, Oildex Launches New Solution Stock

Coupa announced last week continued momentum in the first half of 2016, bringing on several large brands and highlighting forthcoming items for the Coupa platform at Inspire 2016. The San Mateo, California-based P2P provider said its platform has resulted in $8 billion in customer savings to date.

Oildex launched a new field ticket solution designed to bring cloud-based document automation to the oil and gas industry. Capabilities of note include real-time spend visibility and invoice automation and reconciliation.

Wells Fargo Capital Finance recently announced the new leadership of its Supply Chain Finance Originations group. John Schmidt, former managing partner and founder of Castle Pines Capital, LLC, which Wells Fargo acquired in 2011, will lead the team.

And finally, Zhongwang USA said Monday it would buy U.S. aluminum company Aleris in a $2.33 billion deal. The transaction represents a bet by Zhongwang’s owner that the U.S. automotive aluminum sector will be the industry's next big growth market.

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