Afternoon Coffee: MBO acquires MBO Partners Limited in UK and Ireland; Vroozi announces new SuiteApp platform; Spend Matters releases ‘Future 5’ list of start-ups

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MBO Partners, which refers to itself as “the leading platform for independent professionals,” announced its acquisition of MBO Partners Limited, UK and Ireland-based affiliates of MBO Partners. According to the press release, “the acquisition will supplement MBO’s existing capabilities with localized expertise and experience in the United Kingdom and Ireland,” and it will “enable leading enterprises to seamlessly source, engage and manage independent professionals and microbusinesses across borders.”

David Cassar, global head of international programs for MBO Partners, said, “MBO Partners Limited has proven experience and relationships, as well as core capabilities that will expand not just our client base, but our platform’s capabilities to do business without borders.”

Managing Director and Founder of MBO Partners Limited, Fergal Lennon, said, “We have worked collaboratively with the MBO Partners team for four years and we are confident that we share the same vision and approach. We are excited to showcase the capabilities of the full scope of the MBO platform to our shared and growing client base.”

MBO Partners has been testing the waters in the UK and Ireland through partnerships with the acquired companies for several years. The current step indicates that it is seriously committed to serving independent professionals in the UK and Ireland as well as well as businesses (in and outside of the countries) that will engage them.

This is MBO’s second acquisition move of the year. It acquired crowd-ideation platform MindSumo in October. For more on that, see our PRO analysis, MBO Partners acquires open innovation crowd platform MindSumo — Context, Deal Rationale, Analysis.

Vroozi announces new ‘Built for NetSuite’ status platform

Vroozi, a leading digital procurement and accounts payable (AP) platform, announced that its digital suite has achieved “Built for NetSuite” status. The new SuiteApp aims to help organizations manage costs and increase the efficiency of purchasing and accounts payable processes.

In a press release, Vroozi said the Vroozi Procurement for NetSuite platform will unify and automate finance, employee and supplier management process on a single platform. Vroozi aims to have NetSuite users maximize efficiency and savings, increase spend under management, reduce rogue purchasing, collaborate electronically with suppliers, and increase financial control.

“Vroozi’s SuiteApp combines fully digital purchasing and accounts payable capabilities with a robust supplier marketplace,” Joe Fox, CEO of Vroozi, said in the press release. “Our solution for NetSuite customers helps finance teams lower costs, increase spend visibility and, ultimately, ensure stronger financial performance.”

Spend Matters names graphiteConnect, Prewave, Teampay, Trakti, Utmost to its ‘Future 5’ start-ups list

Yesterday, Spend Matters announced its list of “Future 5” start-ups — five exciting procurement start-ups that caught the eyes of Spend Matters’ analysts this year.

Spend Matters named graphiteConnect, Prewave, Teampay, Trakti and Utmost as five start-ups making waves in procurement. The Future 5 helps practitioners identify truly unique start-ups that they may not have heard of otherwise.

“The procurement and sourcing technology market is hot, and this goes for start-ups as well,” said Spend Matters’ Magnus Bergfors, VP European Research and Lead Analyst. “There are hundreds or even thousands of vendors in this space, ranging from full S2P suite vendors to specialists. That said, it can be hard for a practitioner to identify truly unique start-ups. So that’s why we compose our Future 5 list that highlights five really interesting newcomers that are tackling problems that existing solutions don’t address, tackling ‘old’ problems in new, interesting ways."

Spend Matters will release more detailed information about each Future 5 vendor in the coming weeks. Until then, visit the Future 5 page to learn more about each vendor and read an analysis.

Spend Matters would like to wish a Happy Veterans Day to all the men and women who served in the U.S. military. We thank you for your courage and bravery.

 

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