Breaking News Content

Tradeshift Acquires Product Information Management Provider Merchantry

Tradeshift announced Tuesday the acquisition of Merchantry, a leading cloud-based product information management (PIM) provider, for $30 million in cash and stock. While Merchantry has traditionally focused on sell-side and retail product information management, its technology is a close fit with what is necessary to enable catalog content management for procurement – and deeper in a range of areas based on past use case support.

Infor to Acquire GT Nexus: ERP + Global Trade = New Network Vision


Infor announced Tuesday it was acquiring GT Nexus for $675 million. The transaction is expected to close before the end of September, based on regulatory approval. Infor has a long history of financially-driven acquisitions that keep investors happy and deliver enough innovation to customers to keep them on their systems. But the GT Nexus deal appears to be something more. The worlds of ERP and global trade are so sufficiently different that to combine 2 companies serving these markets effectively will require a new approach and vision – or as CEO Charles Phillips labels it, “postmodern ERP.” Indeed it is.

Virtual Assistant Platform Zirtual Suddenly Suspends Operations – Buyer Beware


The virtual assistant company Zirtual suspended operations without warning Monday, freezing all accounts and leaving both clients and their assistants effectively “locked out.” The company, headquartered in Las Vegas, sent an apologetic email in the early morning indicating it would be “pausing all operations.” The email explained further that “due to a combination of market circumstances and financial constraints we must re-organize our current structure.” Spend Matters came to know about this early today, because we were a happy customer of Zirtual phoned up by our Zirtual assistant, who gave us the news.

InvoiceSmash Acquisition: Coupa Attempts to Smash Other E-Invoicing and Supplier Networks


Coupa announced Monday it had acquired InvoiceSmash, an upstart vendor from Australia that looks somewhat similar, on the surface, to the type of PDF extraction e-invoicing services offered by providers like Transcepta and Tradeshift, among others, that extract data and metadata from documents and then present them in an easy to leverage format from an accounts payable automation.

Oildex Acquires OpenInvoice from ADP: History, Facts and Initial Analysis

Oildex, a service of Transzap Inc., announced Monday it acquired procure-to-pay provider OpenInvoice from Automatic Data Processing Inc. Spend Matters was aware that ADP had entered into a formal process many months ago to sell the OpenInvoice business line, which it originally acquired in 2010 from Calgary-based DO2 Technologies, also known as Digital Oilfield. Oildex is well known in the oil and gas industry for its core invoicing and supplier on-boarding capabilities, which enable business-to-business and financial systems integration. With the addition of OpenInvoice products to its value proposition, Oildex will strengthen its position and services offering by delivering improved integrated capabilities.

Perfect Commerce Offers to Acquire Hubwoo

Hubwoo announced yesterday that Perfect Commerce has made a cash offer to buy all the shares in the Paris-based procure-to-pay software company for €26.6 million (about $30 million). This equates to a share price of €0.19 Euros – a near-36% premium over its last share price. This "bargain basement" purchase price (slightly less than 1 times of trailing revenues) could put the struggling Hubwoo under the control of a parent corporation registered in Luxembourg (even though Perfect is a decidedly US-centric firm). Spend Matters will follow up on this news with detailed analysis and implications of the deal, but our initial thoughts point to an opportunity for Perfect to expand its customer base, geographic presence and its supplier network capabilities – and also a way to defibrillate Hubwoo, which has been floundering since SAP acquired Hubwoo’s largest competitor Ariba. Members of the Spend Matters team react to the news, offering their initial analysis.

IBM and Procurement Transformation: By the Numbers, Risk Management and More

Earlier this morning, on the final main stage of Coupa Inspire, Michael O'Leary, director of procurement offerings and strategy at IBM Commerce, shared the IBM procurement transformation story. Michael has a background in procurement, playing a leading part with IBM’s internal transformation charge before shifting to the product/solution side of the business. And, at the start of his talk, Michael noted that IBM’s total procurement spend (including client spend) now stands at $52 billion annually. IBM counts 17,000 suppliers across 100 countries within its supply base (after significant supplier rationalization efforts). From a numbers perspective, IBM’s procurement performance KPIs and performance improvement metrics are more than impressive.

Coupa Introduces Supplier Information Management

Earlier today, Coupa announced its latest module: Coupa Supplier Information Management (SIM). While I will leave it to the supplier management professionals at Spend Matters to cover Coupa SIM in more detail after they’ve seen the product, it’s worth sharing some of the highlights of the announcement before we’ve had a chance to look at the tool given the critical nature of such a module to an integrated procurement suite.

Coupa Inspire: Suite Synergy, Wearables, T&E and More

On the second day of Coupa Inspire, Raja Hammoud, vice president of product management, kicked off the festivities by framing the context of how consumer and business technology have started down a merger path that will make them inseparable. She also introduced the concept of “Suite Synergy” – a clever marketing tagline – to describe how modules interoperate both from a functional and user experience perspective. It’s nothing unique for providers offering a single suite such as Coupa, but the way Raja explained it was simple and effective. Read on to see what Raja had to say, and stay tuned for additional coverage from the conference throughout the day.

Wrapping Up Coupa Inspire Day 1: 5 Observations From Larger Customer and Prospect Discussions

The afternoon sessions are winding down here at Coupa Inspire. It’s been a whirlwind day by just about any account. I particularly enjoyed the panel discussion this morning that I participated in with Bob Solomon, principal at Software Platform Consulting, Inc., Dawn Tiura Evans, president and CEO of SIG, and Chris Sawchuk, principal, global procurement advisory practice leader at The Hackett Group – there was really good energy between the 4 of us. Chris anchored it, Bob shared some extremely insightful thoughts and context around networks and suppliers (among other areas) and Dawn was straight to the point, representing both procurement and finance views into spending. Read on for more insights on the first day of the Coupa Inspire event!

Coupa Inspire Dispatch: Musing on Partnerships, Accenture and More

Spend Matters continues to provide updates from the Coupa Inspire 2015 Conference in San Francisco. On stage this morning at Coupa Inspire, Rob Bernshteyn spent less than a minute thanking the partners who sponsored the event as he sped through a ton of material spanning the history of Coupa to its philosophy to recent investment areas. Nonetheless, it was 30-40 critical seconds of his talk. The partner slide he referenced was impressive – in more ways than one. As a start, Accenture was listed as an event sponsor (for the first time), and we suspect it is doing more with Coupa than most are aware. No doubt, whether official or not, this is a critical partner “win” given Accenture’s legacy in working with Ariba/SAP to the exception of other P2P providers.

Coupa Inspire Dispatch: The First Procurement Unicorn

This morning Rob Bernshteyn, Coupa’s CEO, took center stage to kick off Inspire 2015. Earlier in the week, Coupa announced a recent funding round, valuing the procurement suite provider at over $1 billion, making it the latest “unicorn” in venture-speak (unicorns are tech companies valued in excess of $1B prior to an IPO). Coupa also passed the milestone of hiring its 400th employee, Rob said at the start of his talk. Check out the Spend Matters team conference coverage as it continues throughout the day and tomorrow!