Zycus Partners with Global Risk Management Solutions
On September 09, Zycus, the New Jersey-based provider of source-to-pay procurement solutions, announced that it has partnered with Global Risk Management Solutions (GRMS), a supplier risk analysis solution provider. Terms of the partnership were not revealed, and it is not clear how Zycus and GRMS will go to market with their partnership. But overall, the arrangement appears to be aimed at providing Zycus customers with an added supply chain and supplier base risk assessment capability outside of the company’s solution-driven supply risk management capabilities.
Trade Extensions Announces Financial Performance for 1H 2016
On September 2, Trade Extensions, the Sweden-based provider of advanced sourcing solutions, provided high-level financial performance results for the first half of 2016. Company officials provided generally positive results for the first half of the year and attribute their success to new and existing customers. Highlights include:
- 9% growth in revenue compared to the first half of 2015, with company officials predicting 15% growth by year’s end;
- More than 40% of its revenue was generated in the U.S. market, while another 58% emanates from Europe
- 20% growth in the Americas compared to the first half of 2015
- 80% of its revenue is now derived from repeat subscription licenses
- 14% growth in the sale of licenses to the industrial and retail sectors
Looking ahead to early 2017, Trade Extensions plans to release a comprehensive update to TESS, its sourcing and optimization platform, that company officials believe will further drive revenue and user growth.
Infor Releases Cloud-Based Contract Management Solution
On September 12, Infor, the New York City-based provider of enterprise resource planning (ERP) and supply chain management solutions for the cloud, announced the release of a cloud-based contract management solution. Dubbed Infor Contract Lifecycle Management, the solution is being offered as part of the Infor Customer Experience Suite and is said to boost a customer’s contract visibility and supplier risk management efforts. Pre-contract execution, users leverage an “intuitive” tool, complete with version control, to create contracts, rather than reuse live contracts and language that may not fully apply to a given trading partner relationship.
Post execution, Infor CLM allows users to flag and track specific terms, conditions, clauses, and keywords, which can help them monitor and analyze risk factors over time or as needed. Users can also set up alerts that ping them on important dates or milestones. Infor CLM also features an analytics-pricing engine, which enables users to automatically compare prices, costs, and margins to help them understand whether they are realizing identified cost savings via the contract. The cloud-based tool also allows users to compare contracts that are similar to each other to help users understand differences in terms, conditions, pricing, clauses, and other qualities.
Bottomline Technologies Announces Q4 and FY 2016 Earnings
Bottomline Technologies, a provider of cloud-based business payment, invoice and digital banking solutions, including the Paymode-X payment network, last week reported financial results for the fourth quarter and fiscal year ended June 30, 2016. Revenues overall for the fourth quarter were $88.1 million, an increase of $2.7 million, or 3% from the fourth quarter of 2015. Revenues for the year were $343.3 million compared to $330.9 million for the preceding term while subscription and transaction revenues increased by 14%. Among the highlights, the company announced that seventeen customers selected Paymode-X in the company’s 4th quarter