Hubwoo Announces First Quarter 2015 Financial Results

On April 30, Hubwoo (Euronext: HBW.NX), the Paris-based provider of cloud-based spend management and business process automation solutions, announced financial results for the first quarter of 2015. Gregory Mark, Hubwoo CEO and Board Chairman (click here for our Procurement Influencer Series Q&A with him), led the call and highlighted the quarterly results, which included:

• 6.7 Eur million in consolidated revenue – down 2% from Q1 2014
• 5.3 Eur million of this was attributed to Hubwoo’s Saas-model – down 8% from Q1 2014
• 1.5 Eur million was attributed to Hubwoo’s Professional Services Group – up 30% from Q1 2014

The growth in Hubwoo’s Professional Services Group can be attributed to significant growth in its customer base over the second half of 2014 and coming online in the first quarter of 2015, as well as increased activity from the company’s existing customers. This growth helps to offset losses from its SaaS model as customers transition from it.

Hubwoo officials also noted a couple of items for Q1 2015 – first, that SAP® Sourcing and SAP Contract Lifecycle Management (SAP CLM) application 10.0 are now being hosted by Hubwoo. These solutions feature “improved user experience and connectivity, and reduced total cost of ownership,” said Hubwoo officials. They also announced Hubwoo’s Customer Training Space, which will allow customers to access Hubwoo’s Training Library, Training Calendar, and a Contact Page for improve customer service, including a multi-lingual support team.

SciQuest Announces First Quarter 2015 Financial Results

On April 30, SciQuest (NYSE: SQI), the North Carolina-based provider of cloud-based spend management process automation solutions, announced financial results for the first quarter of 2015. Stephen Wiehe, President and Chief Executive Officer of SciQuest, lead the call and highlighted Q1 2015 results, which included:

• GAAP revenues of $25.9 million – up $0.5 million compared to the first quarter of 2014
• GAAP losses of $0.5 million from operations – up $0.4 million compared to the first quarter of 2014
• GAAP net loss of $0.3 million – up $0.2 million compared to the first quarter of 2014

It was a strong quarter of growth for SciQuest, which reported revenues at the upper bands of its original forecast, according to Wiehe. The company saw growth in its customer base, and rolled out to them the newest release of their platform with two new features. Because of their strong Q1 momentum on the customer and solution side, Wiehe believes SciQuest is on track to meet their growth and profitability goals for 2015.

Previously, SciQuest officials announced that they expect GAAP revenues for the full year to be between $105.9 million and $109.9 million. They also estimated that net cash provided by operating activities will be between $21.5 million and $23.5 million.

Coupa Announces Coupa for Apple Watch

On April 28, Coupa, the California-based provider of cloud-based spend management solutions for B2B operations, announced that it will now offer Coupa for Apple Watch to existing customers at no additional cost via the Apple App Store. The offering will enable end users to review, approve, or reject requisitions, invoices, or expense reports with the swipe of a finger, greatly increasing speed, visibility, and efficiency. Now, decisions both routine and important can be made literally anywhere, reducing bottle necks and time-to-decisions. According to Coupa, they are the first cloud-based spend management solution provider to offer their service on the Apple Watch. This “consumerization” of business processes affords end users with an accessible, familiar user interface akin to something that they would use in their personal lives.

Deem Announces Commercial Shopping Application

Speaking of “consumerization,” on May 4, Deem, the San Francisco-based provider of cloud-based spend and supply management solutions, announced the release of its newest offering, Deem Shopping. According to company officials, Deem Shopping provides end users with a familiar and accessible way to purchase goods and services while staying in compliance with enterprise guidelines and policies and providing visibility into spend to approving managers. Users purchase goods and services within a project management format, allowing project managers to track spend, manage budgets, and prevent overspending.

According to company officials, Deem Shopping is cloud- and mobile-enabled, and is part of their suite of indirect spend solutions that should provide greater visibility and control to Chief Financial Officers and Chief Procurement Officers. Enterprises can deploy Deem Shopping either on the front end, on top of an existing ERP solution, or on the back end of a buyer or supplier solution. It comes pre-loaded with millions of SKUs, and will replace Deem’s current shopping application by the end of this year.

Exari Releases Secure Contract Repository

On 5 May, Boston-based provider of contract management solutions, Exari, announced the release of Exari Contracts Hub, a secure, searchable contract repository that can operate across the enterprise. Using a “unique” contract data model, the cloud-based solution pulls in documents from across the enterprise and stores them in a central, searchable repository that provides visibility to end-users and executives, alike. Exari Contracts Hub allows end users to look deep within their contract files, keep updated on milestones, like expiration or renewal dates, set reports, score risks, and be more proactive vis-a-vis sudden or emerging developments. According to company officials, Exari Contracts Hub is available now, and can be set up and fully operational within a day.

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