Technology Round-Up – October 16, 2015

Posted by Matthew York on October 16th, 2015
Stored in Articles, General, Procure-to-Pay, Solution Providers, Technology

IQNavigator and HR4You Partner to Enhance Contingent Workforce Management

Early last month, IQNavigator, the Colorado-based provider of Vendor Management Systems (VMS) for contingent workforce management (CWM), announced that it is partnering with HR4You, a California and Israel-based human capital management (HCM) specialist, to enhance CWM and HCM operations, particularly in Central Europe. The partnership will bring HR4You’s expertise in Central European labor regulation and compliance to IQNavigator’s global CWM platform, allowing enterprises operating in Europe to leverage IQNavigator’s CWM platform to have increased visibility and reporting on local labor laws. This will be especially helpful for multinational corporations that operate not only in Europe, but across the globe and need to be compliant with local labor laws and avoid regulatory risks.

Ivalua Reports Strong Growth for the first half of 2015

In late July, Ivalua, a California-based provider of spend management solutions for the cloud, posted strong financial results for the first half of 2015, and is on track to make 2015 a record year for the company. Ivalua Corporate CEO, David Khuat-Duy, shared many indicators of the company’s performance for H1 2015, which he attributes to the market’s response to Ivalua’s solutions, enhanced features like universal search, Walk-up Item Catalog, and API Workbench, and ultimately, to their customers’ success. Some of the highlights that he mentioned include:

  • 98% cumulative customer renewal rate
  • 64% growth in new bookings compared to H12014, which is more than at any time in Ivalua’s history
  • 60% growth in channel partner-driven revenue

Based on these performance metrics, Ivalua leaders believe that the company is on track for a record year. If the second half of 2015 is any reflection of the first half, Ivalua is on their way.

DocuSign to Purchase Division of OpenTrust

In early September, DocuSign, the California-based provider of Digital Transaction Management (DTM) and electronic signature solutions, announced that it has entered into an agreement with France-based DTM provider, OpenTrust, to acquire its Trusted Documents and Transactions (TDT) Division for a yet-to-be disclosed sum of money. As a France-based company, OpenTrust is very familiar with European Union compliance issues, and will be an asset to DocuSign and its global customers. The two companies have already been collaborating for a number of years, and the deal will merge this particular division of OpenTrust with DocuSign. The transaction is expected to see DocuSign acquire TDT’s customers, employees, and digital signature and certificate solutions, and will be completed in the fourth quarter of 2015. The deal will also expand DocuSign’s worldwide growth, and build upon its more than 100,000 customers transacting in 188 countries.

Verian Announces Fall Release of Enhanced P2P Suite

In late August, North Carolina-based Verian, which provides cloud-based spend management and procure-to-pay (P2P) solutions, announced the fall release of Verian 15.2, an enhanced P2P suite for procurement and operations users looking to corral indirect spend. Verian 15.2 improves upon the platform’s asset management, contract management, buying, and analytics capabilities. Version 15.2 allows users to conduct asset management faster and in a more efficient and streamlined manner, allowing users to see what assets they have and to create work orders to tie in to them. It also facilitates greater on-contract spend by allowing users to track on-contract spend in real time, at each step of the buying process, and to pull in non-catalog items to contracts. Verian 15.2 also fosters “smart” buying by using smart item forms that allow users to capture spend information for unique items. Lastly, the fall release features enhanced spend analytics features, like vendor scorecards to assess performance, redesigned purchasing reports featuring greater detail and drill-down ability, and more KPIs that provide for a more holistic view of enterprise spend.

Coupa Releases Second Quarter Financial Results, Reports Best Quarter for New Bookings

In late summer, Coupa, the California-based provider of cloud-based spend management solutions, reported financial and operational results for the second quarter of 2015, which is reportedly the company’s strongest quarter for new bookings. The company also reported growth in customer subscription revenue for the 26th consecutive quarter, growth in its sales force and other new hires, and new global partnerships. Coupa officials attribute this across-the-board growth to increased demand for their cloud-based spend management solutions. Highlights from Q2 2015 include:

  • 80% increase in new customers compared to Q2 2014
  • 162% increase in total spend managed under Coupa’s solutions compared to Q2 2014
  • A nearly four-fold increase in the number of suppliers that are part of its pre-negotiated savings supplier network

Ardent Partners has covered several of Coupa’s announcements from Q2 of this year. Interested readers can find our coverage by clicking herehere, and here.

Amadeus Partners with Several Travel and Expense Management Solution Providers to Enhance Offerings

In late August, Florida-based travel and expense (T&E) management solution provider, Amadeus, announced that it is partnering with several other T&E solution providers to enhance their offerings and make their solutions widely available to customers. Solution providers DATABASICSExpensifyCertify, and Chrome River will collectively provide Amadeus’ customers with capabilities and features for end-to-end booking, expense reporting, and expense management. Other features and capabilities that will be available include seamless integration of itineraries and booked pricing information; enhanced analytics of past and future travel spend, vendor performance, adherence to budgets, and other variables; single sign-on, profile synchronization, and trip details and expenses that automatically populate travel reports at time of booking.

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