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.
Predicaments and Predictions for 2020
The Spend Matters’ analyst team has been publishing a series of 2020 procurement predicaments within their respective industry areas. They've looked at what is broken and how to fix it, in a retrospective vs outlook approach. There are both main site free-to-read posts and more granular insights in accompanying Pro pieces - check out Services Procurement, here and here, Contract Lifecycle Management here and here, and Procure-to-Pay here - so far.
2020 vendor predictions: marketing or real trends?
Following a series of market vendor predictions for 2020 Magnus Bergfors responds to the themes of data and analytics, UX and automation (AI) and risk, sustainability and CSR. Read that here.
Tradeshift $240 million funding round
Our US Editor talks to Tradeshift CEO Christian Lanng about the firm's $240 million funding round and its plans to restructure. Of note to European readers might be its restructuring of operations to drive profitability - some of this will include moving select roles in North America and the Nordics from high-cost to low-cost regions. Read that here.
EcoVadis gets $200 million boost
We learnt that Eco Vadis gained a $200 million investment from CVC Growth Partners that puts three CVC executives on the EcoVadis board and sets the company up to expand. It plans to use the funding to expand internationally, break into new countries and further invest in its technology platform, sustainability intelligence solutions and network of rated companies. Read more here.
2020 M&A & Procurement Investment Predictions
As part of our PE intelligence offering we published 10 trends to watch out for in the M&A and investment activity landscape of the procurement sector for 2020 - read that here.
A Swedishman in New York
Our analyst Magnus Bergfors shares his experiences of the differences European firms should consider when attempting to enter the US market. One of the main differentiators is the focus on sales and marketing vs. engineering. Read more here.
Carillion’s toll on hospitals
The National Audit Office has reported that two new hospitals whose construction was halted by the collapse of Carillion have been delayed by two more years and will run hundreds of millions of pounds over budget. The shadow cabinet office minister has said the delays are “completely unacceptable … The Conservatives must take responsibility for being asleep at the wheel.” The Guardian has the full story.
And in other news …
P2P software market to witness huge growth by 2025 - report
WestView Capital Partners completes a growth investment in The Shelby Group
Tradeshift says it’s slashed cross-border transaction costs using Ethereum
Laerdal Medical chooses Ivalua to drive efficiency and compliance across its global organisation
NHS SBS launches consumer-style procurement hub
Nestlé to pay multi-billion premium for sourcing recycled plastics
Don't forget:
To be considered for Spend Matters’ annual ‘50 Providers to Know’ and ‘50 Providers to Watch’ solution provider lists, your company must have an up-to-date Spend Matters Almanac listing. The Almanac is the most comprehensive directory of procurement and supply chain solution providers, used by practitioners to better understand the marketplace, and is free to access.
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