CPO Rising’s Technology Round-Up returns today with another assortment of supply management technology news and updates from the past month to share with our community. If you are a sourcing, procurement, or spend management solution provider and you have news to share with us, please drop us a note at editor at cporising dot com. Thanks, and enjoy!
Determine Releases Cloud Platform 17.6, Adds Feature Functionality
Determine, Inc. (NASDAQ: DTRM), the Indiana-based provider of contract management and source-to-settle solutions for the cloud, recently announced that it has released version 17.6 of the Determine Cloud Platform. Release 17.6 adds feature functionality to procurement, contract management, supplier management, and inventory management modules, as well as enhancements to the Determine Core, the architecture behind the platform. These include improved user interface (UI) / user experience (UX), which will give users more self-service functionality.
As a result of these core improvements, Determine Cloud Platform users will now have the ability to rate catalog items in a consumer-like fashion and to conduct off-catalog requisition checks in an easier manner; the ability to associate commodities with specific contracts and enhancements to automatic renewals, terminations, and manual terminations; the ability to opt out of irrelevant supplier questionnaires, and to color code supplier risk levels; and the ability to manage items returned to stock and to conduct partial inventory counts.
JAGGAER Announces Kudu, Version 17.2 Release
Another industry heavyweight, JAGGAER, recently told us that it has also gone to market with an updated version of its source-to-pay platform, Kudu. The North Carolina-based source-to-settle solutions provider (formerly SciQuest) has added a number of innovations and updates to its collection of industry-specific product suites. These include: Improved UI / UX across the platform, specifically within sourcing, eProcurement, contract management, and supplier management portals; Improved Spend Radar, its spend analysis tool, giving users an enhanced ability to visualize and report spend analytics across the organization and leverage it throughout the tool; Enhanced supplier management and collaboration features, including improved requesting and registration; Deeper integration of discounts, approvals, kits, and brand features across the platform; And the ability to support decentralized procurement organizations, particularly within global enterprises, by including multinational currency and language support.
Hubwoo Announces Financial Results for the First Half of 2017
Last week, Hubwoo (Euronext: HBW.NX), the Paris-based provider of spend management and business process automation solutions for the cloud that is owned by Perfect Commerce, announced financial results for the first half of 2017. The three measures of financial performance cited — consolidated revenue, SaaS-derived revenue, and services-derived revenue — were all down compared to the first half of 2016. Company officials attributed these declines to the expiration of customer SaaS contracts, as well as the downsizing of the services market.
- €9.3 million in consolidated revenue, compared to €11 million in H1 2016, or a -16% difference year-over-year
- €8.6 million from SaaS solutions, compared to €10 million in H1 2016, or a -14% difference year-over-year
- €0.7 million from services, compared to €1.0 million in H1 2016, or a -32% difference year-over-year
Zylo Expands Company and Customer Base, Launches Data Science Practice
Last week, Zylo, the Indiana-based provider of cloud intelligence software built to help organizations discover, manage, and optimize their own cloud investments announced that it has expanded the size of its company, increased its customer base, and has now launched a data science practice. In the last quarter, the company doubled employee headcount as they have built out their engineering, product management, data science, sales, and customer success teams. The hires come in parallel with the growth in subscriptions to more than 300,000, and precedes the launch of its data science practice. According to company officials, the data science practice will partner with large organizations that would like assistance with renewal management, improving user utilization, and finding, balancing, and optimizing SaaS tools.
Exari Updates Contract Management Platform
Late last month, Exari, a Boston-based provider of cloud-based contract management solutions, announced that it has launched the newest version of its enterprise contract lifecycle management platform, Exari Contracts. The newest version allows users to manage any and all contracts within the enterprise and manage them at each phase of their lifecycle. The new release also features an enhanced machine data extraction capability that allows users to pull disparate pieces of data from enterprise, supplier, and third-party contracts and store them as distinct data points within their contract repository. It can also show the evolution of contracts to see how they have changed over time and what terms prevailed in the end. The newest release also features enhanced compliance management and workflow capabilities, improved self-service capabilities, and “faster and more complete integration with new API’s” that should ultimately driver wide-scale enterprise adoption.