Afternoon Coffee: MBO Partners acquires MindSumo; Better-than-expected job growth in September; a salute to the Spend Matters Europe website

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MBO Partners, the independent professional workforce solution provider, announced that it will acquire MindSumo, a crowd-based open innovation platform. The terms of the deal were not disclosed.

According to the press release, “the MindSumo innovation platform allows businesses to crowdsource breakthrough ideas and insights by posting online ‘challenges.’ A community of 500,000 Millennial and Gen Z users submit solutions in order to win money and recognition for their creative problem solving.”

Miles Everson, CEO of MBO Partners, stated, "Savvy enterprises are rethinking the way work gets done, increasingly shifting from purchasing services to purchasing results. Adding this capability to the MBO platform, which enables frictionless transactions and engagement between independents and enterprises of all sizes, is a natural fit for all."

That said, the acquisition represents a significant diversification for MBO Partners and appears to indicate an evolution of business strategy. Spend Matters will provide a more detailed analysis of the acquisition in the coming days. For additional information about crowdsourcing, see What You Don’t Know Can’t Help You: Why Crowdsourcing Is Alive and Growing.

Private companies add 749,000 jobs in September

American companies added 749,000 jobs in September, a faster-than-expected pace due in large part to a surge in manufacturing hires, according to an ADP report.

MSNBC said the report found that the increases were especially apparent in the construction, hospitality, and the trade, transportation and utilities industries. For September, ADP found that manufacturing added 130,000 new jobs. Trade, transportation and utilities saw 186,000 gains, the article reported.

Dow Jones economists expected 600,000 new jobs in the month. The Wednesday report comes two days before the closely watched Labor Department count of nonfarm payrolls growth. That report is expected to show an addition of 800,000 after August’s 1.37 million, while the unemployment rate is expected to fall two-tenths of a point to 8.2%, the article said.

Saying hello to a global Spend Matters site

Spend Matters launches its global site on Thursday, Oct. 1, as Spend Matters Europe merges into it.

Nancy Clinton, Spend Matters’ UK/Europe Publishing Director, went on a trip down memory lane and highlighted some of the biggest moments in the last 10 years of Spend Matters Europe's coverage.

From the Real World Sourcing and Pub Debates series to key CPO interviews, Spend Matters Europe became a place to think creatively and get firsthand procurement knowledge. The Spend Matters global site will still provide the same standout journalism and witty thought leadership, just in a new format. As the world becomes more global, so does Spend Matters.

“This is the future — and this international knowledge, first-hand insight of the market and the players within it, is what we will be bringing you from our global-eye view,” Clinton wrote.

See you Friday

Afternoon Coffee will take a brief hiatus tomorrow when Spend Matters launches its Solution Map Fall 2020 update. Check out the latest vendor ranking then. We’ll be back on Friday.

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