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!
NACHA To Partner with Bottomline Technologies on B2B Payments
NACHA, a not-for-profit association that supports the broad payments industry and manages the ACH Network and, has recently announced Bottomline Technologies as a new Preferred Partner for B2B Payments. As a Preferred Partner, Bottomline will help with NACHA’s strategic efforts and payments system by increasing ease, accessibility, and efficiency, and supporting risk management and security for their ACH payments. Bottomline Technologies is a cloud-based business payment, invoice, and digital banking solution provider, with headquarters in Portsmouth, New Hampshire. Paymode-X is Bottomline’s complete B2B payment solution, and offers integrated virtual card, ACH and check payment processing. Through their partnership with NACHA, they hope to bring a more simplified payment process to businesses and support overall B2B payment process.
Kofax to Offer a Free First Year of Service for its Solutions
Kofax (NASDAQ: KFX, LSE: KFX) recently announced a new “First Year Free” offer of its Kofax Capture and Kofax Transformation solutions. This offer will allow organizations to try out these solutions on a no-charge basis. The Kofax Capture is a platform that creates digital images from paper and electronic documents and transforms them into information that can be delivered into customers’ line-of-business applications, workflows, and databases. New customers will be able to leverage Kofax Capture for up to 10,000 scanned or imported pages with no license or maintenance fees for one year. Kofax Transformation automates document processes and adds document classification and separation, and data extraction and validation capabilities to Kofax Capture.
HireRight to Partner with Beeline for Third-party Worker Screening
HireRight, an employee verification solutions company based in Irvine CA, recently announced a new partnership with Beeline, one of the world’s largest providers of VMS technology. HireRight offers employee verification through educational qualifications, drug testing, background checks, and electronic solutions for Form I-9 and E-Verify. The company’s screening services for contingent labor will now be integrated with Beeline’s system. Customers will be able to access, manage, and purchase the HireRight services directly from Beeline’s VMS platform. This will provide customers with accurate data collection, fast verification, and transparent communications with candidates for work who are not on a company’s payroll.
Bullhorn to Acquire Workforce Management Provider, Peoplenet
It was recently announced that Bullhorn, a cloud computing company that helps with staffing and recruiting, has acquired Peoplenet, a cloud-based provider of workforce management solutions. The Peoplenet solution offers an automated and simplified way of time and expense collection which allows staffing firms to increase efficiency and improve accuracy for compliance and approvals. With this acquisition, Bullhorn, which is headquartered in Boston, is looking to accelerate its cloud-based strategy and can now deliver flexible time, attendance, and expense management solutions for staffing firms. This announcement comes on the heels of the official closing of Insight Venture Partners’ acquisition of Bullhorn, which was first announced back in October.
Coupa Software Reports Third Quarter 2018 Financial Performance Results
Coupa Software (NSADAQ: COUP), a San Francisco-based spend management solutions provider, recently announced financial results for the third quarter of Fiscal Year 2018. Coupa saw total revenues at $47.3 million, a 34% increase from the same period last year. Coupa also saw a 39% increase in subscription revenues and a third consecutive quarter with positive operating cash flows. Some of the highlights from 3Q FY 2018 include:
- $47.3 million in revenue, a 34% increase from the same period last year
- $42.8 million in subscribtion servies revenues, an increase of 39% from the same period last year
- $11.2 million GAAP operating loss, compared a loss of $5.5 million last year
- $11.3 million GAAP net loss, compared to $6.7 million for the same period last year
- $21.5 million Cash flow provided from operating activities for the nine months ended October 31, 2017
Basware Launches Supplier Quality Analytics Dashboard
Basware, the Finland-based provider of procure-to-pay and e-invoicing solutions, has announced the release of their Supplier Quality Analytics dashboard, which is intended to help transform supplier transaction records into business intelligence. The new dashboard can provide customers with more value by taking procurement transaction data and using it to see how suppliers are performing. This visibility can help organizations build stronger supply chains, and help reduce supply chain risk. The dashboard can also help organizations achieve a stronger supply chain by monitoring things like lead time, order fulfillment, delivery, and quality measures.