GEP Partners with Global Risk Management Solutions to Enhance Risk Management Capabilities
On November 2, GEP, a New Jersey-based provider of procurement software and business process outsourcing (BPO) services, announced that it has partnered with Global Risk Management Solutions (GRMS), a supplier risk analysis solution provider, to enhance GEP’s cloud-based source-to-pay platform, SMART by GEP. GRMS will integrate its supplier risk profiling capabilities within SMART by GEP at no additional cost to GEP clients. As a result, they will be able to access supplier risk profiles with the click of a button within SMART by GEP’s cloud-based, mobile-friendly platform, enabling faster and more streamlined access to critical risk information when and where it is needed.
Corcentric Acquires InfoAccess.net
On October 24, Corcentric, a Virginia-based provider of cloud-based financial process automation tools, announced that it has acquired InfoAccess.net, an Ohio-based provider of cloud-based eInvoicing solutions for an undisclosed sum. The deal will provide synergies for both companies: InfoAccess will help to build out Corcentric’s customer roster with Fortune 500 customers, as well as reinforce Corcentric’s AP Invoice Automation solutions with its own eInvoicing capabilities. For its part, Corcentric will provide InfoAccess customers with a wider array of financial management solutions. The acquisition closed on October 11.
Basware and ADS Solutions Partner, Link P2P and ERP Software
On October 13, Basware, the Finland-based provider of e-invoicing and purchase-to-pay (P2P) solutions, announced that it has partnered with ADS Solutions, a California-based provider of distribution solutions for wholesalers, to bring Basware’s P2P solution to ADS Solutions’ Accolent ERP system. As a result, ADS Solutions clients will be able to leverage eInvoicing, AP automation (ePayables), invoice inquiry in concert with the Accolent ERP system, which ought to increase efficiency and visibility, and automate workflows from distribution to payment. A perk of the deal is that Accolent customers will also gain access to Basware’s business commerce network, which will effectively connect them to over a million companies across 100 countries.
Proxima Launches Commercial Management Solution
On October 20, Proxima, the London and Chicago-based procurement consulting and managed services provider (MSP) announced the release of its Commercial Management Solution (CMS) that is meant to augment supplier management. Integrated with Proxima’s Catalytics technology platform, CMS acts as a real-time data collection and analysis tool that allows end users to conduct supplier management, including internal and external compliance, performance, and risk management “on the fly.” End users are able to leverage CMS and Catalytics in concert with each other to provide a holistic, enterprise-wide view of supplier risk and facilitate optimal performance.
Carlyle Group’s LDiscovery Acquires Kroll Ontrack
On October 21, LDiscovery, a Northern Virginia-based provider of digital forensic and legal discovery services owned by The Carlyle Group, announced that it has agreed to acquire Kroll Ontrack, a data discovery and recovery firm, for approximately $410 million in an all-cash deal. As a result of the acquisition, LDiscovery clients will be able to leverage Kroll’s international footprint, platform, and data recovery services, while Kroll clients will able to take advantage of LDiscovery’s e-discovery capabilities. Together, the two companies will have operations in 19 countries and employee roughly 1300 employees worldwide. The LDiscovery-Kroll deal represents a potential opportunity for procurement teams to aid in their contract management, risk management, and supplier management efforts.
Source One Management Services Announces SpendConsultant.com
On October 4, Source One Management Services, LLC, a Philadelphia-based spend management consultancy firm, announced the release of a new offering, SpendConsultant.com, which is effectively a spend analysis solution offered “as-a-service.” Source One consultants perform all of a client’s spend data collection, categorization, normalization, enrichment, analysis, visualization, and reporting without all of the needed on-premises architecture and software licenses of a standalone spend analysis system. Source One consultants reportedly developed their models and platform based on more than 25 years of experience conducting spend analysis. Existing customers can access SpendConsultant.com at no additional charge, and can use the service in tandem with an Opportunity Assessment to identify areas within their spend that are ripe for savings.