Breaking News Content

Toptal Acquires Skillbridge and Broadens Its Scope Beyond Technical Talent

Tradeshift Baiwang

Toptal, a network of freelance software engineers and designers, announced Tuesday it acquired Skillbridge, an online talent marketplace for non-technical business professionals, for an undisclosed amount. By bringing Skillbridge’s broader network of “top-tier elite business freelancers” onto its platform, Toptal extends its business into a attractive adjacent market segment of enhancing scale and platform economies. The acquisition is Toptal's first entry into non-tech talent market

‘TalentWave’ Created by Merger of Two Independent Workforce Solution Firms

TalentWave

TalentWave is the new name and identity of the combined independent workforce solution firms ICon Professional Services and Synergy. The two businesses merged in October 2015 under the auspices of Serent Capital, which in February 2015 acquired a majority equity share in ICon. Talent Wave CEO Teresa Creech told us in an interview that the rebranding marks a major milestone in the integration of the two businesses and their teams as well at the launch of new strategy aligned to accelerating changes in the independent workforce solution space.

Basware Acquires Verian, Expanding its Reach in U.S.

Basware announced Thursday it acquired Verian, a move that Basware said will help it expand its cloud-based business revenues in the U.S. and other key markets. Finland-based Basware provides e-invoicing and P2P and has a North American business, Basware Inc., headquartered in Stamford, Connecticut. Verian, headquartered in Charlotte, North Carolina, offers cloud-based P2P solutions. Basware said Verian brings added e-procurement capabilities to Basware’s portfolio. Verian’s existing customers will also be able to take advantage of the Basware Commerce Network.

Upwork Introduces Upwork Pro and Enhanced Upwork Enterprise to Address Needs of Larger Businesses

Upwork Pro

Online freelancer platform Upwork is introducing a new service offering, Upwork Pro, a premium sourcing solution for mid-sized businesses. Upwork Pro will also be available to larger businesses that use the Upwork Enterprise suite. The launch of this offering represents yet another step by Upwork to engage mid-sized businesses and large enterprises and to meet their urgent need to source highly qualified talent. These businesses, while strapped for talent, have not yet tapped into a burgeoning, alternative source of skilled talent: online freelancers in many locations across the world.

Coupa Buys Contractually to Improve Contract Management

Efficio

Coupa has acquired cloud-based contract management solution provider Contractually. Terms of the deal were not disclosed, but Spend Matters believes this was not a substantial acquisition in financial terms. From a capability perspective, however, the acquisition appears clever on multiple fronts, even if Coupa is not acquiring a standalone contract lifecycle management (CLM) provider. The acquisition adds collaboration and authoring capabilities that reduce contract risk, reduce errors and increase efficiency.

Taulia Announces $46M in Series E Funding Round

Taulia announced Thursday it raised $46 million in financing, which Spend Matters sees as encouraging news for 2016. The recent Series E financing was led by Zouk Capital. Taulia said the new investment allows the financial supply chain to “accelerate its rapid expansion,” the company’s press release stated. It also brings total funding for Taulia to more than $130 million.

The FTC Gets it Right with its Injunction Against a Staples and Office Depot Merger

Staples Office Depot merger

The Federal Trade Commission announced Monday that it is filing an injunction to prevent the planned merger by Staples and Office Depot. Simultaneously, the Canadian Competition Bureau also filed to block the transaction with Canada’s Competition Tribunal. Yet for CPOs and category managers, this announcement brings some level of opportunity. Staples and Office Depot will undoubtedly try to provide yet another remedy to the FTC and maybe even tactically conduct business as if the merger will eventually take place.

SAP Announces Integration of Fieldglass and SuccessFactors

Staples Office Depot merger

SAP announced Tuesday the initial integration of the vendor management system (VMS) Fieldglass and the human capital management (HCM) solution SuccessFactors. Both Fieldglass and SuccessFactors are SAP solutions. SuccessFactors is used by enterprises to manage their employee workforces; Fieldglass, acquired by SAP in May 2014 for a reputed sum of more than $1 billion, enables the management of contingent workforce and staffing suppliers. With the integration, organizations will “now be able to upload data from Fieldglass into contingent profiles in SAP SuccessFactors Employee Central, making them visible to everyone in the organization through people searches and organizational charts,” the press release said.

Field Nation Introduces a ‘Complete,’ Comprehensive Field Workforce Management Solution

independent workforce

Field Nation, a WIP that enables businesses to engage and orchestrate various types of technical field services workers, has announced a new platform extension called Field Nation Complete. Complete allows businesses to now seamlessly manage not just directly engaged independent contractors, but also employee workers and the field services workers of third-party service delivery providers, giving businesses and service delivery providers the capability to plan and manage an entire field workforce comprehensively.

ICon Acquires Synergy Services — Independent Workforce Ecosystem Continues to Take Shape

Efficio

ICon Professional Services announced Monday its acquisition of Synergy Services for an undisclosed amount. The two companies are, at their core, providers of compliance and payment services that allow organizations to engage independent workers. We had the opportunity to talk with ICon CEO Teresa Creech and Synergy Founder and CEO Tim Miller to gain some additional insights into the acquisition and the rationale of combining the two companies.

Tradeshift Releases Corporate Buying Solution: Tradeshift Buy

Tradeshift announced today it released its new corporate buying solution, Tradeshift Buy, which the company said will increase visibility, improve spend management and add product content opportunities for buying organizations. Check out our initial analysis.

Field Nation Raises $30 Million of Private Equity Funding, Bringing More Capital to WIP Space

Field Nation

Work intermediation platform Field Nation announced Thursday it closed a $30 million investment round led by Susquehanna Growth Equity. This funding event represents strong investor confidence in Field Nation’s potential, as well as a continuing flow of capital into the emerging work intermediation platform (WIP) space. From a services procurement and contingent workforce management standpoint, this investor backing further validates our view that WIPs will continue to evolve to become a significant part of the contingent workforce ecosystem.