ESM Solutions Announces New Sourcing Tool
On May 18, ESM Solutions, the Pennsylvania-based company that provides SaaS-based sourcing and P2P solutions, announced the release of a new suite of sourcing solutions aptly called “ESM Sourcing.” The new suite brings automation of RFx production and modularity to the sourcing game, allowing users to customize the suite as needed. They can pull in previous sourcing documents, like RFIs, RFPs, RFQs, and RFXs, including specific language, to create new or updated documents. Users can also create “open-invitation proposals” that can be broadcast to all suppliers within ESM’s supplier portal. Speaking of suppliers, ESM Sourcing enables them to search for specific proposals, receive alerts from existing customers or those within their geographic region, and extract documents and images from the user’s supplier library as the supplier responds to a sourcing event. Although ESM announced the release in mid-May, company leaders plan to release more updates later this fall.
Icertis and PROS Integrate Contract Management and Configure-Price-Quote Solutions
On May 25, Icertis, the Washington-based provider of automated, cloud-based contract management solutions, announced that it has partnered with PROS, a Houston-based revenue and profit realization company and provider of Configure-Price-Quote (CPQ) solutions, in order to integrate the their contract management and CPQ solutions. The integration is meant to provide finance, legal, and sales professionals with a seamless and user-friendly method to convert sales opportunities into contractual documents. The partnership will leverage Microsoft cloud platforms, like Azure, 365, and CRM, in order to allow multiple stakeholders within the enterprise to pull in disparate pieces of customer and product data from across the enterprise to build a contract that capitalizes on the sales opportunity at hand.
Exostar Announces the Release of a Secure Source-to-Pay Solution
In late May, Exostar, the Northern Virginia-based provider of cloud-based source-to-pay (S2P) solutions for the aerospace and defense (A&D), healthcare, and life science industries, announced the release of a secure version of its S2P tool that is said to drive security and federal regulatory compliance for its users. The hosted solution, powered by Wax Digital’s web3 technology, is managed from Exostar’s accredited and secure facilities in the US and UK. It is also controlled by Exostar’s identity and access management system, integrates with its own “supply chain ecosystem,” and offers a modular and open architecture for customization. It enables buy-side companies to operate upstream in sourcing, contracts, and supplier management, as well as downstream in procurement, invoicing, and payment for a secure, compliant, and efficient “one-stream” S2P experience. It also features an analytics and reporting capability, and can integrate with a company’s ERP and other back-end systems.
Microsoft Integrates Concur T&E Functionality into Office 365
In mid May, it came to light that Microsoft is integrating SAP Concur travel and expense (T&E) management capabilities into Microsoft Office 365 products, namely Outlook, in order to more efficiently manage online bookings, travel, and expenses. Starting in autumn 2016, Concur users will be able to see their approved travel bookings automatically appear in their calendars. Upon return, if their receipts are in their email, the integrated system will automatically extract receipts from the email and allow users to review and submit their receipts to Concur for processing, approval, and reimbursement. The integration will also enable users to book travel within their calendars based on meetings and events, and even prompt users with flight, hotel, and rental car options for their destination.
Basware Goes to Market with Verian P2P Solution Following Acquisition
On May 18, Basware, the Finland-based provider of e-invoicing and purchase-to-pay solutions, announced that it has gone to market with Verian’s P2P solution following Basware’s acquisition of the North Carolina-based company. Under Basware’s branding, “WeProcurement” is a cloud-based eProcurement solution that is said to increase efficiencies by requiring fewer processes for users to purchase goods and services. It is also said to increase enterprise-wide collaboration by leveraging data, inputs, and process workflows from upstream sourcing and downstream procurement and payments. The new release will provide mobile first/mobile-ready capabilities, including T&E tools that will allow users to create expense reports on the road and can provide management with increased transparency and control – unique for an eProcurement platform.