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, and some of our own you may have missed - we'll have more from our analysts in the coming days  ...

Proactis Announces Interim Results

Proactis has had a busy week. It has shared the outcome of its review of operations for the six months ended January 31 with shareholders and reported sales up 5% year-on-year. It has also reported adjusted EBITDA from the £8.4m recorded a year ago to £8m. It reported total contract values up 8.9% and 34 new business deals up from 31 reported a year ago. Full details are here. Proactis has also appointed a new CFO, Richard Hughes, following the appointment of Tim Sykes to CEO. Details here. And there is an accompanying commentary here from the CEO.

50 To Watch to 50 To Know Jumpers

Spend Matters recently launched its celebrated ‘50 Providers To Watch’ and ‘50 Providers To Know’ lists. Every now and again a provider makes the leap from ‘to watch’ to ‘to know.’ That leap signals they are not only bringing innovation into procurement but leading the way in how we do business for the better. Today we highlight Corcentric.

Fyle Announces Expense Management Solution for Email

Intelligent expense management provider Fyle (backed by Tiger Global Management) has launched an AI-powered expense management solution for email which allows users to automatically report expenses from email with one-click directly from Google G Suite and Microsoft Office 365. Fyle captures the expense data in receipts and auto-fills them from an email thread and attaches the pdf without the need for manual upload or download – it combines all the expenses into a single expense report for submission. Read more here.

Ivalua Study Finds Businesses Woefully Overestimating Procurement Digital Transformation Progress

Ivalua has announced the findings from a new report (in conjunction with Forrester) revealing that organisations are drastically overestimating their digital maturity. One of the findings of the study showed that organisations frequently make poor choices with regards to technology, which impedes digital transformation. “Digital transformation is critical to success, but requires a realistic assessment of current maturity, a clear vision for each stage of the journey and the right technology,” said Ivalua CEO. Read more and download the full report here.

Spend Matters Announces SolutionMap Customer Insights

As part of its SolutionMap offering Spend Matters has introduced Customer Insights which adds reviews from users of the market’s top vendors to its procurement tech ranking and evaluation solution. Initially the offering will be a component of the SolutionMap Insider membership and will provide a one-page summary of qualitative insights from the peer review process, including ratings on degree to which the vendor meets user expectations, three key differentiators for the vendor and a list of quotes about the vendor’s greatest strengths. Read more here.

Lack of Awareness of the Modern Slavery Act

A survey of over 500 respondents to assess awareness and understanding of modern slavery is part of an ongoing campaign by eProcurement firm Wax Digital to raise awareness of The Modern Slavery Act. It found that 62% of the UK business respondents knew nothing about the Act and only one in five could say their employer has a modern slavery statement. Wax Digital will be hosting a roundtable at its annual Fusion event in Manchester on May 14 to discuss ethical supply chains – read more about the firm here.

Elemica Presents Blockchain Pilot Projects

At digital supply network Elemica's 1st Disruptive Supply Chain Innovations Conference, about 100 trade visitors discussed the role that humans play in blockchain-based business processes. Titled "People are the center of the 4th Industrial Revolution - not technology" the event showcased best-practice examples and initial blockchain pilot projects, and high-caliber industry experts demonstrated what the technology is capable of. Read some of the answers here.

How One of the Largest US Truck Manufacturers Mitigates Tariff Risk

MetalMiner has launched CEO Lisa Reisman’s latest podcast conversation with Matt Marthinson, VP Supply Chain at JB Poindexter. In this episode Matt lets listeners in on how an established transportation industry manufacturer with significant exposure to commodity risk views the tariff landscape, both now and into 2020. Listen to that here. And more podcasts here.

Compleat Software Brings Digital Procurement to SMEs

Spend management software provider Compleat Software is to enable SMEs across the UK to reduce spend with the purchasing power of digital procurement – a service that has only previously been available to enterprise-level organisations – says the press release. The new digital procurement platform, CompleatProcure, will aggregate billions of pounds of spend data from the invoices it already processes for customers to drive cost savings of up to 15% for businesses. Platform subscribers can expect to make significant, ongoing savings across all suppliers, contracts and services.

YPO and Amazon

Yorkshire Purchasing Organisation is issuing a VEAT (Voluntary Ex-Ante Transparency) notice, signalling its intention to enter into a contract with Amazon. Following the publication of the VEAT notice, YPO and Amazon will finalise the contract, with a view to launching the new service to public sector customers in May 2019. More information will be provided when a contract has been signed. “While YPO has an extensive range of more than 30,000 products, increasingly there are requirements from our customers that we cannot fulfil on our own," said YPO MD. Read more here.

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