Several news stories this week to bring to your attention - we'll have more from our analysts in the next few days so do tune in ...
European Procure-to-Pay Stocks Take a Hit
Unsurprisingly this morning we saw the P2P stock market open on a low note: particularly Basware and Proactis.
Basware’s negotiations with Tradeshift came to a halt yesterday partly following uncertainty from investors over the deal – nevertheless stock price fell 21%.
Proactis took a real hit with shares dropping just over 50% – partly to do with yesterday’s trading update. (On the up side - Proactis has also just announced £20 million funding from HSBC UK to help launch its SME facilitator Accelerated Payment Facility later this year. - more to come on that.)
Tungsten has done well – having recently reported positive EBITDA for the first time and 13.9% revenue growth, with stock doubling in February.
Read more about all of this on Software Platform Consulting including a forward look at Tradeshift.
Tradeshift and TransferMate Announce App Integration for Commercial Transactions Across Borders
Tradeshift is integrating into its platform Irish payments company app Transfermate – the partnership is to automate same-day cross-border payment services from commercial transactions anywhere in the world more accurately, securely, and with lower fees than traditional correspondent banks – says the press release.
Mastercard, Amazon and Accenture Partner To Establish Transparent Blockchain Supply Chain
Accenture is collaborating with Mastercard, Amazon Web Services, Everledger and Mercy Corps to build a “circular supply chain” allowing consumers to make more sustainable choices about what they buy. Read more on Forbes.
Wax Digital Partners with Caliba
Wax Digital has partnered with Caliba Group, a boutique consultancy specialising in strategic procurement and outsourced services, to build the firm’s market presence in Australia and South Africa where Caliba operates.
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