Determine Announces Financial Results for Q1 2017
On August 10, Determine, Inc. (NASDAQ: DTRM), the Indiana-based provider of contract management and source-to-settle solutions for the cloud, announced financial results for the first quarter of Fiscal Year 2017. Although GAAP-based revenues and recurring revenues increased slightly from Q4 2016, annual recurring revenues fell slightly year-over-year, which Determine President and CEO, Patrick Stakenas, attributed to the company’s transition to its new technology platform. Highlights from Q1 2017 include:
- $6.49 million in revenue, compared to $6.21 million from Q1 2016, or a 4.5% growth year-over-year
- $5.06 million in recurring revenue, compared to $5.10 million from Q1 2016, or a 0.5% decrease year-over-year
- $1.42 million in non-recurring revenue, compared to $1.12 million from Q1 2016, or a 27.2% increase year-over-year
- $3.39 million in gross profits, compared to $3.3 million from Q1 2016, or a 2.3% growth year-over-year
- $77 thousand in non-recurring gross losses, compared to $357 thousand from Q1 2016, or a 78.5% difference year-over-year
Coupa Partners with L&T Infotech to Offer Cloud-Based Solution
On August 18, Coupa, the California-based provider of spend management solutions for the cloud, and Larsen & Toubro Infotech or LTI, (NSE: LTI, BSE: 540005), a global IT services and solutions company headquartered in Mumbai, India, announced a strategic partnership between the two companies. As partners, LTI will establish a Coupa Center of Excellence (CoE) which will develop and deploy Coupa’s spend management solutions to LTI’s clients. Terms of the partnership were not released, nor were details on the timeline of the establishment of the CoE.
Vinimaya Previews Real-Time eProcurement Suite
On August 22, Cincinnati-based Vinimaya, an eProcurement and supplier catalog management solution provider, previewed what it has called the supply management technology industry’s only real-time eProcurement suite at an industry event. Dubbed “Aquiire,” the new tool allows users to search multiple supplier sites and their punch-out catalogs and aggregate all of the findings into one portal, including item, price, and supplier information. “Klarity,” which is an interactive heat map, guides users to where the most relevant results are according to their search terms and enterprise needs. Aquiire also comes with advanced features, like risk analytics and alerting, that scour structured and unstructured data and present users with near real-time risk information on a given product or supplier.
SciQuest Launches Enterprise Reagent Manager
Very recently, North Carolina-based SciQuest, which offers automated spend management solutions for procurement practitioners, launched the latest version of its Enterprise Reagent Manager, a chemical inventory management software that sourcing and procurement teams can use to better manage the life cycles of industrial chemicals. The solution is particularly useful for pharmaceutical companies and other bio-technology firms. Sciquest’s newest version includes a more robust search engine, which allows users to simultaneously search their internal inventories and supplier base for a given chemical.