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CLM specialist Agiloft gets $45 million investment, starts growth strategy with new CEO

Agiloft, a specialist in contract lifecycle management (CLM), has charted a new course for itself by landing its first outside investment in the company’s three-decade history and adding new leadership, the California-based vendor announced Monday.

Coupa acquires ConnXus, adding a wealth of supplier diversity capabilities

In its second acquisition this year, Coupa has acquired the supplier diversity specialist ConnXus, according a Spend Matters interview Monday with Coupa, a suite provider of business spend management solutions. Terms of the deal were not disclosed, but Coupa said talks had been going on since 2019 and that the coronavirus disruption played no role in the negotiations.

Coronavirus update: Trade with Europe isn’t part of U.S. travel ban

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“The restriction stops people not goods," President Donald Trump tweeted, in part, after his Oval Office address where he announced travel restrictions with much of Europe as part of his strategy to curb the spread of the coronavirus outbreak. His speech mentioned the travel ban and trade at the same time, making it unclear if the U.S. intended to shut down imports and exports with Europe. Also, read this story for the latest headlines on the coronavirus' effect on people and the economy.

In reaction to coronavirus, U.S. suspends travel with Europe — but not the UK

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In response to the coronavirus outbreak, the U.S. will bar travel from Europe for 30 days, beginning late Friday, said U.S. President Donald Trump in an Oval Office address to the nation Wednesday night. He said the UK, which recently separated from the European Union after the prolonged Brexit debate, is not part of the ban. 

Coronavirus disrupts spring procurement events: My View, by Jason Busch

Updated March 17 with ISM canceling its April conference in Boston. In the past 48 hours, coronavirus concerns have led five procurement and finance solution providers to cancel components of their spring events:

* EcoVadis Sustain (March, now a virtual event)
* Oracle Modern Business Experience (including Modern Supply Chain World) (March, no event, but speeches to be broadcast)
* SAP Ariba Live (March, Las Vegas event rescheduled as a virtual event)
* Ivalua Now (March, Paris event called off, but webcasts and online updates planned)
* Basware Push.Play.Connect (April, Berlin event canceled and virtual one planned)

The virus COVID-19, specifically, is the culprit.

Many other spring events have not been canceled yet. Let's support our procurement partners and clients during this trying time. Things may go digital for the next couple of months by necessity (in part or in whole), but relationships are never forged or maintained in a virtual world alone.

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.

VNDLY raises $35 million in Series B to try to outsmart VMS

VNDLY, a cloud-based workforce management system (WMS) provider that has been causing waves in the VMS solution market, announced a $35 million Series B round today. Insight Partners led this round, with participation from Battery Ventures, Hyde Park Venture Partners, EPIC Ventures, Bowery Capital, and the Cintrifuse Syndicate Fund. Perhaps raising a few eyebrows, ServiceNow — which provides digital solutions to structure and deliver services for enterprise operations — also participated in the funding round.

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.

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.”

Coupa Buys Aquiire, Adding to Its Lead in Catalog Search and Front-End Shopping Usability

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 technology it gained from acquiring Simeno in December 2017.