Author Archives: Spend Matters Team

Afternoon Coffee: What Workday-Scout RFP acquisition means for procurement; Coca-Cola on board with SAP’s blockchain solution

Workday's acquisition of sourcing technology provider Scout RFP has many abuzz this morning, and Spend Matters has you covered with the details of the news and deep-dive initial analysis of the deal. Coca-Cola has become the latest major corporation to recognize the advantages of blockchain technology. And the National Security Commission on Artificial Intelligence has raised concerns about A.I. development in China. Afternoon Coffee: your source for procurement and supply chain news.

Workday scouts its 14th acquisition: Scout RFP (Deal Summary, Company Background and Coverage Highlights)

Workday’s plan to buy Scout RFP makes this its 14th acquisition, according to crunchbase. Spend Matters has been covering Scout RFP and has some quick takes on this deal.  Material sourced from: First Take Analysis: Workday’s Acquisition of Scout RFP (Part 1: Scout Background, Strengths/Weaknesses, Deal Rationale) and Workday to acquire Scout RFP for $540 million in cash

Workday to acquire Scout RFP for $540 million in cash

Earlier this afternoon, Workday announced its intent to acquire Scout RFP, a sourcing technology provider, for $540 million in cash. Scout RFP was a Workday Ventures portfolio company and Workday partner previously. In a Workday blog, the HR and ERP provider notes that Scout RFP’s “more than 160 employees across North America and Europe will be joining Workday.”

In the press release announcing the transaction, Workday suggests that “with Scout RFP, Workday will provide organizations a comprehensive source-to-pay solution with a best-in-class strategic sourcing offering to transform the procurement organization and deliver better business outcomes, including reduction in spend, greater policy compliance, and maximized engagement across key stakeholders.”

Afternoon Coffee: New metal pricing platform enters market as powerful alternative; Spend Matters Nexus officially launches; Apple seeks iPhone exemption from U.S. tariffs

“MetalMiner offers a compelling alternative metal pricing and intelligence platform for American Metal Market (AMM) customers because it uniquely combines real-time forecasting with metal prices,” according to Don Hauser, the lead steel buyer for a major OEM. Spend Matters officially launched a new subscription service, Spend Matters Nexus, with content specifically written for founders, CEOs, corporate development leaders, and the private equity and investment community interested in the procurement landscape. And Apple asked the U.S. government for a waiver on tariffs on Chinese-made Apple Watches, iPhone components and other products. Afternoon Coffee: your source for procurement and supply chain news.

What Makes It Great: The Procurify Customer Experience (E-Procurement SolutionMap Analysis)

If you’re going to invest in an e-procurement solution, you’d at least hope that your employees use it. But this is often easier said than done. The usability of enterprise software like e-procurement has been low more often than not, and end users from procurement and other functions alike have not always been keen to requisition, punch out and slog through approvals in systems that recall the days of Windows 2000.

Fortunately, a new breed of procurement solutions is rectifying these past missteps, offering simple, intuitive user experiences that remind users more of the applications they use in their daily lives than at the office. The benefits are attractive: higher solution adoption, faster realization of the benefits of technology and greater overall ROI from the technology investment.

This is exactly what attracts customers to a company like Procurify.

Based in Canada, but with clients around the world, Procurify is an e-procurement solution designed for the needs of small and medium-size businesses. This is most visible in its best-in-class UX/UI, which along with other factors helped Procurify claim the highest customer satisfaction scores in our E-Procurement SolutionMap.

But where does Procurify stand out most and help “set the bar” in e-procurement, and why should this matter for procurement and finance organizations? Let’s delve into the SolutionMap benchmark to find out where Procurify is great.

“What Makes It Great” is a recurring column that shares insights from each quarterly SolutionMap report for SolutionMap Insider subscribers. Based on both our rigorous evaluation process and customer reference reviews, each brief offers quick facts on the provider, describes where it excels, provides hard data on where it beats the SolutionMap benchmark and concludes with a checklist for ideal customer scenarios in which procurement, finance and supply chain organizations should consider it.

Afternoon Coffee: Latest ISM PMI still in contraction territory; In U.S.-China trade war, Canada’s the winner in supplying lobster

The Institute for Supply Management (ISM) reported a still-contracting PMI reading for November at 48.3%, up only slightly from 47.8% the previous month. A paper published in the International Journal of Production Research has pointed out that blockchain technology has the potential to transform global supply chain management. And Beijing’s tariffs on American lobster have hit the exports of the Maine delicacy — so Canada has moved in to fill the growing demand. Afternoon Coffee: your source for procurement and supply chain news.

Afternoon Coffee: Doubts over cocoa imports; Uber, Lyft drivers propose California ballot measure; Golden age of supply chain uncertainty

Global companies must focus on the economics of supply chains amid uncertainties such as the U.S.-China trade dispute and Brexit, said the CEO of Barclays at a recent forum. U.S. Customs and Border Protection officials paid a visit to Ivory Coast recently to probe whether cocoa production there used forced or child labor, to decide whether the U.S. should block cocoa imports. And drivers for several gig-economy-platform businesses have announced “a statewide ballot measure for the November 2020 ballot,” according to TechCrunch, aiming to ensure drivers and couriers can continue to be independent contractors with flexible work hours. Afternoon Coffee: your source for procurement and supply chain news.

Afternoon Coffee: U.S. GDP up in Q3; Premier snags cost management platform Medpricer; Tradeshift, Genpact partner up

The U.S. economy grew at 1.9% in the third quarter, a bit more slowly than in the previous quarter, but tempered by good consumer spending and a strong housing sector. Global professional services company Genpact has strategically partnered with payments firm Tradeshift to enable enterprises to transform accounts payable and procurement processes. And Premier Inc., a leading healthcare improvement company, announced that it has acquired cost management platform Medpricer. Afternoon Coffee: your source for procurement and supply chain news.

Customer reviews for Beeline are in the new SolutionMap Customer Insights report

This week’s SolutionMap Customer Insights report focuses on customer reviews for Beeline, an independent provider of solutions for sourcing and managing contingent labor.

The applicable SolutionMap categories for this report are in all three of our contingent workforce areas: Temp Staffing, Contract Services/SOW and Direct Sourcing of Workforce/Services.

SolutionMap Insider members can click here to read about Beeline in our latest report.

In each Customer Insights report, we provide a one-page summary of details from the SolutionMap peer review process. It includes ratings on how well the vendor meets its customers' expectations, three key differentiators for the vendor and a list of quotes from customers about the vendor’s greatest strengths.

Afternoon Coffee: Learn how Unilever is overcoming contract management challenges – free webinar, last chance to register! And other procurement news

How are forward-looking organizations like Unilever embracing digitalization in contract management to overcome challenges in managing third parties? Find out first-hand in this upcoming free webinar, “CLM Maturity Spectrum: The Journey to Commercial Value Management,” airing tomorrow, Wednesday Oct. 30 at 11 am ET / 10 am CT. Gaurav Gupta, Unilever’s general manager of ETS Supplier Strategy and Performance, along with SirionLabs Founder Ajay Agrawal and Spend Matters’ own chief research officer Pierre Mitchell will lay out a progressive new contract lifecycle management approach, called commercial value management, to help your business drive contract management capability “to new heights.” Afternoon Coffee: your source for procurement and supply chain news.

Afternoon Coffee: Getting closer to deal on USMCA; ProProcure’s new tool G-Quotes in the spotlight; Brexit gets ‘flextension’ to 2020

Dealmaking intensifies for getting a vote on the USMCA this year, Politico reports, as the number of issues left to iron out dwindles. G-Quotes is the latest development from e-procurement provider ProProcure, essentially “an online quote-building tool that bridges the gap between the e-commerce needs of suppliers and an enterprise’s requirement to increase levels of automation, control and traceability in purchase requisition,” as Spend Matters UK/Europe highlights today. And the Brexit can gets kicked down the road yet again. Afternoon Coffee: your source for procurement and supply chain news.

Afternoon Coffee: Half of procurement orgs still use Excel to store, analyze data; Amazon profits fall due to shipping costs; Latest IHS PMI holds hope for U.S. manufacturing

According to LevaData’s 2019 Cognitive Sourcing Study, 50% of procurement organizations responding to their survey indicated they still use Excel to store and analyze their data. Copper supply falls, aluminum production grows, and U.S. housing starts drop 9.4% — get the full details on the week that was in direct materials and what it all means. And evidently, expanding their own shipping business has eaten into Amazon's profits over the last quarter. Afternoon Coffee: your source for procurement and supply chain news.