Afternoon Coffee: Icertis, Spend Matters to host contract resiliency webinar; Coupa reports positive earnings for Q4, fiscal year; GM tackles chip shortage by skipping a step

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As companies look to overcome the recent Covid disruptions, contract resiliency has come to the forefront of the supply chain. Because of that, Icertis and Spend Matters are joining forces to host a webinar titled “Pivoting post-pandemic: Redesigning your supply chain and contract playbook for resiliency and flexibility.”

Pierre Mitchell, Chief Research Officer of Spend Matters, will join World Commerce and Contracting's CEO for the APAC region, Bruce Everett, and Icertis' Bernadette Bulacan, Vice President and Lead Evangelist. They will explore industry trends, discuss best practices and provide real-world examples of how businesses are using contract lifecycle management (CLM) to face uncertainty.

The webinar will discuss:

  • The role of contracts in calibrating your response in an environment of unheralded commercial complexity and uncertainty
  • How to incorporate resiliency and flexibility into your commercial and contract strategy
  • Examples of how CLM technology helped organizations to respond quickly and prepare a playbook for handling future shocks

Register here for the free webinar, which is taking place during business hours in the Asia-Pacific region Wednesday, March 31, at 10:30 a.m. AEDT, 12:30 p.m. NZDT, and 7:30 a.m. SGT. For North America, those times equate to 7:30 p.m. EST on Tuesday, March 30.

Coupa announces positive earnings report for Q4 and fiscal year

Coupa, the provider of a suite of business spend management solutions, announced better-than-expected earnings for its fourth quarter and fiscal year ending Jan. 31, 2021, according to Yahoo Finance.

In a press release, the company said total revenues sat at $163.5 million for the fourth quarter, which counted a 47% increase year-over-year (YoY). Total revenue for the year sat at $541.6 million, a 39% increase YoY.

Meanwhile, Yahoo Finance reported that quarterly earnings came out to $0.17 per share, beating estimates of a loss of $0.11 per share. Over the last four quarters, Coupa has surpassed estimates four times, the article said.

"This year, we delivered record financial results across all key measures amid a difficult macroeconomic environment," Coupa Chairman and CEO Rob Bernshteyn said in the press release. "As part of our strategy to develop and own the business spend management market, we continued to invest meaningfully into all areas of our business. We also made strategic acquisitions in supply chain design and planning, treasury, and the enhancement of our supplier diversity and travel and expense offerings. We believe that we are now more optimally positioned than ever to deliver broad based global customer success."

See Spend Matters' coverage of Coupa and its acquisitions here or in the links below.

General Motors producing trucks without fuel management module to address chip shortage

Because of the global semiconductor shortage, General Motors Co. said this week that it’s building some of its pickup trucks without a fuel management module, hurting the fuel economy performance, according to Reuters.

The lack of an active fuel management/dynamic fuel management module means the affected models — with a certain engine — will have lower fuel economy by about one mile per gallon. However, GM’s spokeswoman Michelle Malcho told Reuters that all trucks are still being built but declined to say the volume of vehicles affected.

“By taking this measure, we are better able to meet the strong customer and dealer demand for our full-size trucks as the industry continues to rebound and strengthen,” Malcho wrote Reuters in an email.

GM said last month that the chip shortage could shave up to $2 billion from earnings this year. It expects the global chip shortage to return to normal rates by the second half of the year, the article said.

The Spend Matters global monthly newsletter for March went out this week! Are you on the list? Don't miss out for 2021!

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