Author Archives: JP Morris



About JP Morris

JP Morris comes to Spend Matters with 25+ years of experience with the Chicago Tribune and the Houston Chronicle. He works with the global Spend Matters team of analysts and professionals to coordinate coverage of the procurement technology market. He also edits all manner of Spend Matters stories — PRO, Nexus and SolutionMap analysis columns as well as news articles. And he’s trying to figure out which SolutionMap persona fits a husband and dad of two who likes to travel, build robots, coach baseball, write, feed WordPress and meet deadlines.


Tradeshift has $240 million funding round, plans to restructure and focus on near-term profitability

procurement

Tradeshift, a solution provider known for its network, supply chain payment offerings and marketplaces, announced today that it has a funding round of $240 million in equity and debt that sets “the company on a direct path to profitability in the near future,” the announcement said.

CEO Christian Lanng spoke with Spend Matters and said this marks a time for refocusing on high-value efforts and restructuring the company, which was founded in 2010.

“It's been a very long journey to get critical mass. It actually doesn't feel this long today. Ten years is quick in our space,” Lanng said.

Read more about the changes at Tradeshift.

Coupa acquires Yapta, boosting its T&E capabilities

Coupa announced today that it is buying Yapta, a website that monitors airline and hotel prices in real time and rebooks at the lowest price. The addition to Coupa’s business spend management suite of offerings bolsters its travel and expense capabilities, according to the announcement.

Success is ‘the provider’s responsibility,’ Scanmarket says in webinar on implementation, ROI and services

SciQuest

Talk of digital transformation and which procurement technology to acquire take up a bulk of the conversation about how businesses should grow, but leaders in procurement software say that businesses should not ignore the implementation and consulting services that should be deployed along with the latest solutions.

In a recent webinar about getting a solid return on your technology investment, Spend Matters Founder Jason Busch talked with Scanmarket about how its team of experts helps customers succeed in using the new tool, deploying it with change management, setting the KPIs to match the buyer’s goals and assessing the success in the months after implementation.

‘Dark CapEx’ and ‘orphan’ business processes are top challenges as lease spend moves onto balance sheets, expert says

“There is a growing amount of ‘dark CapEx’ hidden in outsourcing contracts, ‘as-a-service’ arrangements and traditional leases,” said Ingemar Lanevi, LeaseAccelerator’s VP and GM of Global Sourcing Solutions, in an interview focusing on the problems with leasing spend.

The issues with lease spend have been hot topics since accounting rules changed this year for some companies, and that change has exposed how businesses don’t really understand how much they’re spending on leases, how much they’re overspending and who in the business is in charge of all those deals.

“Equipment leasing is an ‘orphan business process’ that begs for oversight and leadership,” said Lanevi, in a Spend Matters Q&A where we asked him about the issues with lease spend to shed light on the big picture.

Brexit and U.S.-China trade deal gain steam

Global Risk Management Solutions (GRMS)

Two sagas concerning world trade — Brexit and a U.S.-China trade deal — saw major developments Thursday but are not done deals yet. The UK election yesterday strengthened Prime Minister Boris Johnson, who for years has favored a UK exit from the European Union. In the U.S. amid impeachment hearings over President Donald Trump, he has signaled that a preliminary deal on the 19-month-long U.S.-China trade has been reached, according to several news reports. The development could avert even more tariffs being imposed on goods from China that were to begin Sunday.

Scanmarket CEO Betina Nygaard: ‘The e-sourcing process will change completely’

Many procurement technology firms have a short history before flaming out or being acquired, but one stalwart firm has hit a rare milestone — and has secured a strong future for itself. Scanmarket, the Denmark-based provider of strategic sourcing software, turned 20 this year — and made sure that the family business will carry on with the same mission. To learn more about what it takes to run a long-standing best-of-breed sourcing business, we talked to Scanmarket CEO Betina Nygaard for her insights about the past and the future of e-sourcing. "I think the e-sourcing process will change completely," she said.

How can manufacturers reduce risk in direct procurement? Deploy a secure, end-to-end solution

guided buying

“They supply for success.”

That sums up the BMW supply chain mission statement, said Doug Markle, the CEO of Allocation North America, in a webinar with BMW about how the automaker gets the most out of its manufacturing process.

BMW’s high standards and its technology combine to meet its drive for excellence. To create a competitive advantage, a manufacturer or business with complex operations must ensure a controlled, digitized management process across the entire production lifecycle. And BMW stated that it organizes all of its sourcing events by using Allocation’s ASTRAS software solution.

In Part 1 of this series on technology for direct procurement, research showed a need for manufacturers to upgrade their risky manual processes and digitally transform how they source parts, collaborate with suppliers, manage the lifecycle of parts and materials, and how they can add visibility and value across the whole business. Manufacturers can do that by having one technology platform that manages the entire manufacturing process — from requisition through end-of-life.

Two companies that have made that upgrade are BMW and INEOS Automotive, another manufacturer that participated in the webinar hosted by MetalMiner, a sister site of ours. Both automakers have deployed ASTRAS, which enables end-to-end management of the complex supply chain and parts lifecycle. And they’re having success.

Lease spend is a hidden category worth millions in savings, strategic value for business

procurement

In most businesses, their millions of dollars in leasing spend represent a hidden opportunity for procurement and finance departments to find savings and create strategic value.

With every department in a business juggling leasing terms, financing and renewals for things like warehouses, offices, computers, supplies, furniture and fleets, it’s a daunting task to think any single department could manage it all. These are some reasons why lease spend isn’t managed well. But technology has developed to the point that it would be unthinkable to leave all of that spend unmanaged.

So it's clear that lease spend should be its own category, but why is that becoming apparent now?

Q&A with new Jaggaer CEO (Part 2): Merging its history and making a mark on the future

“Jaggaer has a wealth of information,” said new Jaggaer CEO Jim Bureau. “Over the past 25 years, we’ve gathered more and more data to build intelligence upon, and it’s incumbent upon us to be able to tap into that information in a meaningful way so that we securely provide appropriate instructions to our customers to enable them to be proactive with it.”

In a two-part Q&A with Spend Matters Founder Jason Busch, Bureau outlined the suite provider’s plans after three big changes this year: all of its solutions are now on a single platform called Jaggaer One, it got a new owner over the summer and the change in leadership a few weeks ago that elevated Bureau.

Today, Bureau discusses Jaggaer’s partner network and looks further into the company’s future to discuss what its products will look like and what the company hopes to accomplish.

Medius to buy Wax Digital, giving the AP automation expert full source-to-pay prowess

AP automation provider Medius today announced that it is buying Wax Digital, the UK-based suite provider of source-to-pay capabilities.

Medius, which is based in Sweden, sees the deal as a chance to allow its "current and future customers to generate increased automation, visibility and control across the entire purchasing process.”

Read more about the deal and how it reshapes the procurement technology market.

Q&A with new Jaggaer CEO: ‘Our vision and passion … it’s around the customer experience’

The global suite provider Jaggaer has been undergoing a lot of changes this year — converging its solutions on a single platform called Jaggaer One, getting a new owner this summer and seeing a change in leadership a few weeks ago.

To learn more about these changes, Spend Matters Founder Jason Busch talked with Jaggaer’s new CEO, Jim Bureau, who has been with the company a little over two years and most recently was executive vice president.

Spend analytics solutions vs P2P: What to look for when your company needs insights

If you’re at a company that’s looking for more insight into its spend, you may be considering a procure-to-pay solution or you may just need to go with a spend analytics tool.

So, how does a business decide between the two?

P2P is often a robust system that a business considers when it needs to upgrade its processes as well as its technology. It’s often deployed when legacy systems need replacing or old workflows take too much time and effort from your staff.

A company choosing this option should be ready for a long implementation process that has costs beyond the hefty price of the system itself. Implementation, change management and staff training take time and money. And hidden costs can include poor user adoption of the system, which cuts into the return on investment if your personnel don’t use the system you just bought.

A spend analytics solution may be a better fit for established businesses that already have serviceable technology and sound workflows. Those companies may just need a system that offers more insight into the data they already have. That’s when you’d look for a best-of-breed spend analytics solution.