Afternoon Coffee: SourceDay beefs up RFQ, AP Automation offerings; Does ‘Mayor Pete’ have procurement chops?

A Fitch Ratings report has forecast U.S. transportation infrastructure growth will continue to move more or less in step with GDP leveling off next year. The 2020 outlook report said volume growth remains favorable for U.S. airports, ports and toll roads and will remain largely tethered to U.S. GDP movement, as reported by Logistics Management.

SourceDay ups its RFQ, AP automation game

SourceDay, a provider of a supplier collaboration engine for direct materials users, today announced that the Austin, Texas-based company has beefed up its RFQ and AP automation offerings.

“With SourceDay RFQ, buyers can quickly and confidently select the most competitive suppliers in a way that feeds directly into their ERP system,” the announcement said. “SourceDay AP Collaboration allows up to 95% of invoices to be processed automatically, making it possible for customers to take advantage of early payment discounts. And both products eliminate costly ERP data errors that can lead to planning and production errors and ultimately erode trust throughout a company’s supply chain.”

SourceDay CEO Tom Kieley said the developments add to the company’s overall goal of improving collaboration in the direct materials space.

“SourceDay’s mission is to prevent the reasons companies miss with suppliers before those misses create problems throughout the business,” Kieley said in the announcement. “Our new RFQ and AP products improve our ability to deliver on this promise. Market uncertainty, tariff wars, and labor shortages make it more important than ever for companies to improve visibility and trust in the first mile of their supply chain.”

In an overview of SourceDay’s solution, Spend Matters analysts Nick Heinzmann and Pierre Mitchell wrote that the direct sourcing technology market is developing and that SourceDay is building out its capabilities. “Two notable improvements … are enhanced RFQ functionality and support for broader AP automation,” they wrote, in addition to mentioning other roadmap product plans that got a boost from a funding round.

The overview also concludes that SourceDay’s “offering differentiates itself by smartly addressing many acute procurement pain points.” Today’s announcement confirms SourceDay’s plan to bolster its solution’s features.

Apple supplier to receive $830 million in financial support

Reuters reports that Apple supplier Japan Display Inc. will receive up to 90 billion yen ($830 million) in financial support from Ichigo Asset Management. This, said the company, will give effective control to the Japanese asset manager. Ichigo will join Apple and Taiwanese contract electronics manufacturer Wistron Corp. in bailing out the advanced liquid crystal display (LCD) maker. Apple sources LCD panels for iPhones from Japan Display.

Ryder System gets green supply chain award

Commercial fleet management and supply chain solutions provider Ryder System, Inc. has been named a recipient of the 2019 Green Supply Chain Award from Supply & Demand Chain Executive (SDCE). The 12th annual award recognizes companies that successfully integrate environmentally conscious practices into their operations.

Mayor Pete Buttigieg — a Procurement Leader?

Spend Matters Chief Research Officer Pierre Mitchell penned a commentary piece in the wake of McKinsey releasing Democratic presidential candidate and South Bend, Indiana Mayor Pete Buttigieg's client list.

"Regardless of which candidate you vote for in any elections, I think we'd all be best served by public leaders with traits demonstrated by top CPOs: not just politically savvy, but commercially savvy, outcome-focused, practical, service-orientedempathetic and ethically strong," wrote Mitchell.

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