Tradeshift Enters the eProcurement Market
Last week, Tradeshift announced the launch of a new eProcurement solution, Tradeshift Buy, a solution that includes product catalogs, a virtual store, and the collaboration capabilities that are commonplace in Tradeshift products. This is the first procurement-specific solution released on the Tradeshift network, and joins its supplier risk management, accounts payable automation, and application solutions. The solution also includes the capability for users to requisition and buy from other online stores while staying within policy.
Tradeshift Buy represents the company’s first real foray into the Procurement market, which could mean that customers using Tradeshift solutions can could eventually manage both their procurement and accounts payable processes using a Tradeshift P2P suite.
Tradeshift Hosts Selectica Sourcing Application, Links Sourcing with Procure-to-Pay
In other Tradeshift news, the California-based provider of supplier collaboration networks announced that it has partnered with Selectica (NASDAQ: SLTC) to host Selectica’s SmartSource suite of sourcing capabilities on Tradeshift’s cloud-based supplier network in the form of an application. As a result, Tradeshift users will now be able to leverage Selectica’s strategic sourcing capabilities, such as RFX, bidding, reverse auctions, and contracting on the same platform where they can reach Tradeshift’s network of suppliers. In doing so, users on both the buy and sell-side can benefit from having direct access to each other within a connected sourcing and procure-to-pay value chain, resulting in increased collaboration, visibility, efficiency, and agility.
SciQuest Expands Global Supplier Network
SciQuest announced recently that it had opened up its global supplier network to include all vendors. Now, any supplier can request to join the SciQuest supplier network and become part of the searchable directory that SciQuest customers currently use to discover new suppliers. SciQuest also announced that they had streamlined the vendor registration process in a bid to make it easier for suppliers to join the directory.
Interest in supplier networks has grown in recent years, with 34% of respondents to recent Ardent Partners ePayables research having a supplier network currently in place and 28% planning to implement such a solution in the next 12 to 24 months. Supplier networks in general allow for greater visibility into transactions as well as include capabilities to streamline the sourcing and AP processes. This expansion is good news for SciQuest, and it will be intriguing to see how the company updates the supplier network in the future.
Directworks Launches Revamped Sourcing and Supplier Management Tool, Directworks 2.0
Last week, Directworks, the Pennsylvania-based provider of sourcing and supplier management solutions for the cloud, announced the release of Directworks 2.0, a fully revamped sourcing and supplier collaboration tool purpose-built for manufacturers. Product development teams took the pulse of their customers and came up with a solution that caters to the direct-spend needs of modern, agile manufacturing enterprises. As a result, Directworks 2.0 include a modern, user-friendly and intuitive user-interface for simplicity and use-of-use; a configurable and automated system architecture allowing organizations to standardize and automate processes; manufacturing-specific features that were not available in the previous release; and many other enhancements. Directoworks 2.0 is currently being deployed or developed for manufacturers, and is “now generally available” on the solutions market.
Infor Finalizes Acquisition of GTNexus
On September 21, Infor, the New York-based provider of enterprise resource planning (ERP), supply chain, and other business solutions for the cloud, announced that it has finalized its acquisition of California-based GT Nexus, which specializes in cloud-based solutions for global supply chain management. The deal, valued at $675 million, will see the integration of GT Nexus’ applications and tools with Infor’s, and vice versa. For example, Infor’s Ming.leTM will enable social collaboration for unstructured processes, like emailing and instant messaging, within GT Nexus’s supply chain, while Infor’s CloudSuite technology will integrate with the GT Nexus network. According to Charles Phillips, CEO of Infor, “Together, Infor and GT Nexus will provide customers with unprecedented visibility into their supply chains to manage production and monitor goods in transit and at rest.”
Dun & Bradstreet and DocuSign Partner to Enhance Contract Due Dilligence for Salesforce Users
In mid September, New Jersey-based Dun & Bradstreet and California-based DocuSign announced that they have partnered to deliver an enhanced pre-contract due diligence and risk mitigation solution for use on Salesforce.com’s AppExchange. DocuSign, which is known for its Digital Transaction Management (DTM) and eSignature functionality, will integrate Dun & Bradstreet’s credit risk and supply management information directly onto Salesforce.com’s AppExchange, allowing end users to more efficiently and holistically complete pre-contract due diligence reviews. It will also allow end users to ensure compliance without having to onboard additional headcount – a win-win for organizations that need to quickly and accurately conduct such checks. The integrated capabilities are now available for North American Salesforce.com AppExchange users.
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