SciQuest Announces New Benchmarking Solution, Updates to Spend Automation Platform
On March 11, SciQuest (NASDAQ: SQI),the North Carolina-based provider of automated, cloud-based spend management solutions, announced that it has partnered with SmartProcure to offer a new purchase order (PO) benchmarking service for public-sector procurement agencies. The solution integrates with SciQuest’s Spend Management Suite, particularly its Spend Director and Sourcing Director solutions, and allows users to compare spend with POs from more than 7,000 federal, state, and local government procurement agencies. It also allows them to view and compare what other agencies purchased, what they spent, and even allow them to contact other buyers directly. The net result is that buyers will be able to source and purchase more competitively, and in turn lower supplier costs.
SciQuest also announced the latest release of its Spend Automation Platform, version 15.1, which will be available in late March. According to SciQuest, the newest version combines sourcing, eProcurement, and supplier management into a single platform that is also compatible with mobile devices. As a result, Spend Automation Platform users will have mobile-ready capabilities to enhance their functionality. Other upgrades to the Platform include greater insight into POs throughout a given industry; simplified processes regarding supplier management; upgraded reporting and supplier feedback capabilities; MS Word editing, specifically for contract authoring and editing; Spanish language availability; improving eProcurement, eInvoicing, search, and favoriting capabilities.
Infor Releases Supply Chain Logistics Solution, Updates Asset Management Solution
On March 23, Infor, the New York-based provider of cloud-based supply chain logistics services, announced that it has released Infor Supply Chain Execution (SCE) for the cloud. This new release combines Infor’s Warehouse Management, Labor Management, 3PL Billing, and Transportation Execution services into a single solution that is available in the cloud, as well as on-premise. The cloud-based solution will allow organizations the ability to scale up operations without having to make significant capital investments in IT, and hit the ground running to realize return on investment sooner. Whether organizations adopt the cloud-based or on-premise version of SCE, they will also be able to take advantage of a couple other developments in the system – Infor Min.gle, a social collaboration tool, and Infor ION, a middleware built to connect SCE with Infor’s legacy solutions.
Earlier this month, Info also announced the release of version 11.1 of Infor Enterprise Asset Management (EAM), which the company hopes will enhance user experience, functionality, and compliance. The new release features compatibility with cloud, on-premise, or hybrid deployments, an enhanced user interface, and compatibility with mobile devices. Collectively, a mobile-enabled, cloud-compatible EAM solution should help asset managers perform their jobs in an agile and timely manner, whether they are in or out of the office, and in the cloud or on premise.
Basware and Arrowgrass Capital Partners LLP Have Signed a Definitive Partnership Agreement
On March 12, Basware, the Finland-based provider of procure-to-pay (P2P) and e-invoicing solutions, announced that it had signed a partnership deal with London-based Arrowgrass Capital Partners to develop a new eInvoicing-based, supplier driven invoice financing service. The service, which based on the announcement sounds like either supply chain finance or some form of factoring, is intended to launch by the end of the year. Whatever the new service is, it will be a key offering in the Basware Financing Services portfolio. Because of the partnership, a new entity will be created to manage the service globally for the two partners.
Accruent Announces 2014 Financial and Operational Results
On March 16, Austin, Texas-based Accruent, which delivers cloud-based software solutions that manage indirect spend categories like facilities and real estate management, announced financial and operational results for Fiscal Year 2014. It was a big year for Accruent, which closed three acquisitions and as a result, grew its employee base by more than 150% and its customer base by more than 300%. It also added 150 new organic customers, allowing it to boast a 95% customer retention rate and grow its revenue by 27% over 2013, with 20 consecutive quarters of EBITDA growth. Accruent also expanded into healthcare facilities and reports that it has won 40% of market share of U.S. hospitals. Following increases in research and development, Accruent has also launched 27 new products and services and has expanded its client base throughout North America, Europe, Africa, Asia, and Australia.