In Case You Missed It … P2P Market Roundup

We can't comment on every press release that hits our desks, but here are a few market news stories this week that we thought we should bring to your attention - we'll have more from our analysts in the coming days  ...

CEO of Basware Corporation Changes

March 11 - Vesa Tykkyläinen announced that he has resigned from his position as CEO of Basware. The Board of Directors has appointed Klaus Andersen, CTO of Basware, as interim CEO effective as of March 11, 2019. Vesa will work with Klaus to ensure an orderly transition. The recruitment process to select a new CEO has started. Read the full press release here.

P2P Provider Opus Capita Sold

March 8 - OpusCapita Solutions, the Finnish procurement provider known for procure-to-pay solutions and catalog management, is being sold by its parent company, Posti Group Corp., to the U.S. asset management firm Providence Equity Partners, of Rhode Island. OpusCapita has 8 offices in Europe and the United States, 350 employees and 3,000 customers globally; in 2018 its net sales accounted for about 4 percent of Posti Group's net sales. Posti Group will focus on Postal, Parcel & E-commerce and Logistics services.  No transaction price has been disclosed. Read more here.

Coupa Earnings Released

March 12 - Business spend management firm Coupa’s stock price was down after an earnings report this week showing weaker earnings are expected in the next fiscal year. COUP stock was down 4% as of noon Tuesday March 12. “The poor outlook in the Coupa Software earnings report for its fiscal fourth quarter for 2019 drags down an otherwise strong earnings report,” InvestorPlace Media said. More details here.

Late Payment Culture Crackdown

March 13 - The UK government's Spring Statement says it is cracking down on the late payment culture of UK businesses: "... as a first step we will require company Audit Committees to review payment practices, and report on them in their Annual Accounts." One reactive comment came from global payments network, Tungsten Network CFO, David Williams said: “It’s great to see the issue of late payments acknowledged in the Spring Statement as they continue to be a big problem for many businesses. We’ve witnessed the crippling effect they can have on supply chains more than once in the past year, with small businesses and trade bodies like the FSB being particularly vocal on the subject. However, while the government can and should encourage good payments behaviour through requirements to report on payments in annual reports, we remain convinced that the resolution lies in digitisation rather than legislation. Well-implemented digital invoicing processes can greatly improve the time it takes to pay suppliers and ultimately create efficiencies and cost savings that aren’t possible with manual systems.”

Amazon Ending Pricing Parity

Amazon is reportedly ending its “pricing parity” policy, which “disallows third-party sellers on its site from offering the same items on other platforms for a lower price..." Our analyst Pierre Mitchell did a quick analysis, read that here.

MobileXpense Acquires eBuilder Travel

March 14 - MobileXpense, a Belgian provider of mobile T&E management solutions founded in 2000 as one of the first European Software-as-a-Service companies, is strengthening its international footprint by acquiring the Swedish market leader in travel expense management, eBuilder Travel. "… this acquisition allows us to further heighten our position in the international market where we have become a leading European player able to challenge the world’s largest software suppliers …” said Pieter Geeraerts, MobileXpense CEO. Read the press release here.

JAGGAER Launches World’s First AI-Based On Time Delivery Predictor

March 12 - Independent business spend management firm Jaggaer is prototyping the world’s first artificial intelligence-based algorithm for predicting the probability of on-time delivery of goods and materials in direct procurement. "The JAGGAER OTD Predictor will provide immediate information about the likelihood of delays to deliveries from suppliers, enabling supply chain managers to mitigate risks of disruptions to production flows and reduce the costs that these can cause," says the press release which you can read here.

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