Coupa Continues to Grow Customer Base, Revenues, and Workforce
Earlier last month, Coupa, the San Francisco-based provider of cloud-based spend management solutions, announced a number of performance metrics for Q1 2015 that demonstrate continued growth in its customer base, revenues, and workforce. For starters, Coupa continues to grow its global customer base and subscription rate, posting the 25th straight quarter of revenue growth from subscriptions from new and existing customers. As a result, the total number of spend managed on Coupa’s platform increased by 100% in Q1 FY 2015 compared to Q1 FY 2014. To support this growth in customer base and continued renewals, Coupa increased its global sales force by 25% in Q1 and has expanded its operations in its Dublin, Ireland and Reno, Nevada offices. Coupa currently operates in 18 countries around the world and has most recently expanded into Singapore, Sweden, and Switzerland.
Verian Announces Updated Procure-to-Pay Tool with Enhanced Features
Also in early June, Verian, the Charlotte, North Carolina-based provider of cloud-based procure-to-pay (P2P) tools, announced the release of Verian 15, which brings asset management, facilities management, inventory management, and project management capabilities to the cloud-based tool. Added features include alerting for time-sensitive assets and commodities, bar-code scanning and dashboard controls for easier inventory tracking, and uploadable buying lists and smart workflows that make purchasing for specific projects more easily managed. Because Verian’s suite of solutions is cloud-based, they have already rolled out these enhancements to its customers, which occur on a quarterly basis.
Infor Released Updated Version of M3 Enterprise Resource Planning Tool
In mid June, New York-based Infor, which provides enterprise resource planning (ERP) tools for a wide variety of industries, announced the release of version 13.3 of its ERP tool, M3. This is the second update for the 13.x model, which automatically provides updates to users without having to manually download them. This iteration features more than 200 improvements to the platform and results in more than 1,200 “application-level enhancements” since the release of version 10.1. Enhancements for procurement-specific roles include the Grower Contract Management feature, which supports users in the food and beverage industry that need to procure harvested goods from farmers, as well as Target Buying, which assists distribution centers. Infor’s M3 v13.3 also now supports Russian and Turkish users, joining more than 18 countries and 43 languages on the platform.
SAP-Ariba Releases Updated Ariba Sourcing, Integrates with SAP ERP
Also in mid June, Munich-based SAP (NYSE: SAP), a provider of cloud-based and on-premise business applications, announced the release of an updated version of Ariba Sourcing that can be integrated with SAP’s ERP systems to “close the loop” for SAP and Ariba users. The system allows users to manage complex spend categories in addition to direct and other indirect categories in a more holistic manner. Integrating with SAP’s ERP system, users can generate RFPs and then use Ariba Sourcing to quickly action them within a closed loop process. Users on either end of the loop (ERP or Sourcing) can integrate supplier data and reduce time, effort, and errors in data entry and increasing accuracy, consistency, and efficiency. Searching is easier with an intuitive, user-friendly interface that saves searches across all platforms and quickly returns results.
Selectica Posts Fiscal Year 2015 Financial Results
On June 10, San Mateo, California-based Selectica (NYSE: SLTC), which provides upstream and downstream solutions for supply management practitioners, released financial results for Fiscal Year (FY) 2015, as well as the fourth quarter of FY 2015. Ardent Partners’ analysts sat in on the earnings call led by Selectica’s CEO, Patrick Stakenas (click here for our recent Q&A with Patrick), and here are some FY 2015 highlights:
- GAAP revenue of $20.9 million in FY 2015 – an increase of 32% over $15.8MM in FY 2014
- A decrease in GAAP gross profit percentage from 46% in FY2014 to 41% in FY 2015
- A 47% decrease in deferred revenues increased – from $5.7 million in FY 2014 to $8.4 million in FY 2015
- A 73% increase in billings (revenues plus the change in deferred revenues) – from $13.6 million in FY 2014 to $23.6 million in FY 2015.
Certify Launches GSA Services for Easier Federal Travel and Expense Management
On June 9, Portland, Maine-based Certify, a provider of cloud-based travel and expense (T&E) management solutions, announced the arrival of GSA Services, its solution for U.S. government employees and contractors that aims to automate, consolidate, and simplify government T&E reporting. GSA Services features pre-loaded per diem rates issued by the U.S. General Services Administration (GSA) for all states that are updated yearly. Administrators can then configure the system to meet the T&E guidelines for a particular trip, project, or client – like what is reimbursable or not. Users then simply input their travel arrangements and expenses, and the system automatically calculates the per diem rate for that day, year, and location. Managers can then run customizeable expense reports, allowing them to audit government travel and see trends among their staff.
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