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Workday to acquire Scout RFP for $540 million in cash
November 4, 2019 | Spend Matters Team
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…
More Trump tariffs to be levied on goods from China — starting Sept. 1
August 1, 2019 | JP Morris
In a tweet Thursday that rattled stocks, the Trump administration announced that, starting Sept. 1, 10% in tariffs will be levied against $300 billion in more goods that are made in China for companies that import them into the United States. The companies pay the tariffs, and the extra expense typically leads to higher prices…
Jaggaer sells majority stake to private equity firm Cinven
July 8, 2019 | JP Morris
The procurement suite provider Jaggaer announced Monday that the private equity firm Cinven is buying a majority stake in Jaggaer, which will continue to focus on its unified Jaggaer ONE spend management offering and will look to expand into new markets. Jaggaer said no management changes were planned.
Fiverr IPO launches at $21, and share price nearly doubles
June 14, 2019 | Andrew Karpie
Fiverr (NYSE: FVRR), the online marketplace for digital creative services, priced its 5.3 million IPO shares Wednesday night at $21 per, raising about $111 million in new funding. On Thursday morning, shares began trading at $26, but when the market closed in the afternoon, Fiverr’s share price had risen to $39.96 (nearly doubling). Based on…
New Trump Tariffs Are a Top Issue for Supply Chains, Managers of ISM Economic Reports Say
May 9, 2019 | JP Morris
With the Trump administration’s latest tariff increase on goods from China set to start Friday, the managers of ISM’s economic indexes spent part of their Wednesday webinar addressing concerns about the new levy’s effect on the economy, procurement and supply chains. “I was hoping we wouldn’t still be talking about (tariffs), but alas we still…
Breaking: U.S. Grounds Boeing 737 MAX Jets, Trump Says
March 13, 2019 | JP Morris
The U.S. has grounded all Boeing 737 MAX 8 and MAX 9 airliners, “effective immediately,” President Donald Trump said Wednesday, according to the Associated Press. And in a statement Wednesday, Chicago-based Boeing said it has confidence in the planes but recommended to the FAA “the temporary suspension of operations” of its global fleet of 737…
Another Payment Provider Gets Acquired: Fleetcor to Buy Nvoicepay (Rapid Analysis)
March 5, 2019 | Jason Busch
The intersection between procurement, accounts payable automation, payment technologies and card providers continued to converge today as Fleetcor announced it was acquiring Nvoicepay. The transaction marks yet another example of card-based payment providers getting closer to the world of buyer-driven procure-to-pay — and of course, the vendor corollary, accounts receivable — given the opportunity for…
Certify, Chrome River to Merge Their T&E, Invoice Management Prowess
March 5, 2019 | JP Morris
Certify and Chrome River Technologies, two travel & expense providers who also offer invoice management software, will merge in a deal that’s valued at over $1 billion, a statement Tuesday said. It also realigns the market and makes the investor in the transaction an even bigger player in this sector, two Spend Matters' analysts said.…
Updated: Basware-Tradeshift Talks for M&A Fall Through
February 28, 2019 | JP Morris
Procure-to-pay provider Basware on Thursday announced that Tradeshift’s talks to buy it have been called off. In November, Finland-based Basware confirmed that it was in talks to be acquired, but it didn’t disclose the other company. Later, reports indicated that Tradeshift, a U.S.-based provider of solutions for supply chain payments and marketplaces, was seeking to…
Kraft Heinz Has Procurement Problem, Takes $25 Million Charge after SEC Inquiry, WSJ reports
February 22, 2019 | JP Morris
Kraft Heinz’s procurement division had an accounting problem that led to a Securities and Exchange Commission investigation and a $25 million charge in the fourth quarter, the Wall Street Journal reports. The amount pales in comparison to the company’s other bad news Thursday — when it said it wrote down the value of its Kraft…
Coupa Buying Hiperos — Adding Compliance and Risk Intelligence Prowess to Its Business Spend Management Insight
December 10, 2018 | JP Morris
Business spend management vendor Coupa announced Monday morning that it has acquired Hiperos, a provider of third-party risk management. Coupa bought Hiperos from Opus. Alacra and all other Opus assets were not part of the transaction. The move lets Coupa, which is based in San Mateo, California, add more supplier compliance and risk intelligence insight into…
Coupa Buys Aquiire, Adding to Its Lead in Catalog Search and Front-End Shopping Usability
October 15, 2018 | Nick Heinzmann
Coupa is buying Aquiire, a provider of e-procurement software that brings notable capabilities in real-time search and catalog management, for an undisclosed sum, the company announced Monday. In purchasing Aquiire, Coupa gains not only additional modern front-end shopping capabilities (some might argue among the most advanced) but also a complement to the industry-leading catalog management…

Procurement Leaders moves its event to the fall as a coronavirus precaution : Loqualist said : Tough times for business. Entreprises have to be strong. Where can we find the exact new dates for t...

AI will shift our industry even more than the internet did 20 years ago. Here’s why. : Peter Smith said : "AI will shift our industry even more than the internet did 20 years ago" Nope. Don't think s...

The state of dynamic discounting in B2B payments : David Gustin said : Yes, because they do not offer an einvoicing or AP automation software. They are more a Treasury to...

The state of dynamic discounting in B2B payments : Robert Solomon said : Hasn't C2FO made an entire business based on taking gain share from dynamic discounting?...

5 Tips and Considerations for Your Next Spend Analysis RFP : Puneet Jain said : What is a typical spend threshold when a company should go for an RFP for sourcing indirect purchase...