Zycus Integrates DocuSign Features into Contract Platform
On June 14, Zycus, the New Jersey-based provider of source-to-pay procurement solutions, announced that it has integrated DocuSign’s eSignature and Digital Transaction Management (“DTM”) features into its iContract platform, which ought to increase the speed and efficiency for Zycus users and increase enterprise savings. With DocuSign’s two flagship features integrated with the Zycus platform, users can leverage automated and digital contract authoring capabilities to quickly produce and reproduce contractual documents, customize contracts by inserting clauses and language, and incorporating supplier templates. Users can also leverage the eSignature capability to foster faster review/approval and automated routing to the next reviewer. Integrating DTM and eSignature onto the iContract platform also allows enterprises to reduce their reliance on ink/toner, paper, and shipping fees, saving enterprises significant sums over the long run.
Private Equity Firm, Thoma Bravo, Acquires Elemica
On June 7, Thoma Bravo, a private equity firm located in Chicago and San Francisco, announced that it has entered into a definitive agreement to acquire Pennsylvania-based Elemica, which provides supply chain business networks, for an undisclosed sum. Thoma Bravo will inject fresh capital into Elemica with the aim to grow its business network “into a multi-trillion-dollar commerce engine annually,” and to enhance their time to market on new and innovative supply chain solutions, according to Elemica CEO, John Blyzinskyj. It is unclear what management changes, if any, will occur as a result of the acquisition, or when the acquisition will be complete.
ContractWorks Announces Software Enhancements
On June 9, California-based provider of contract management solutions, ContractWorks, announced enhancements to its software aimed to increase customization of contracts, reporting, and user friendliness. The refreshed contract management solution features customizable reporting that allows users to set reporting criteria to be delivered as needed. It also allows users to tag contracts for specific information that is intended to aid in the reporting process. ContractWorks also touts “a clean and simple user interface” for easier, more efficient usage.
Ecteon Integrates eSignLive in its Contract Management Solution
On June 7, Ecteon, a Tennessee-based provider of contract management solutions, announced that it has integrated eSignLive’s e-signature capability into Ecteon’s Contraxx platform. With the integration, enterprises can choose either an on-premises or cloud adoption that best fits their technology needs. Because signatures are now electronic, Contraxx users will now have an audit trail to determine what contract was signed by whom and when, which ought to foster trust and drive compliance. Ecteon also boasts of an open API, which reportedly makes for the e-signature application’s “seamless” integration into the Contraxx platform.
SAP Ariba Announces Ariba Collaborative Sourcing Professional
On June 14, SAP Ariba, the online business network wholly owned by SAP, announced the release of Ariba Collaborative Sourcing Professional, the newest addition to its cloud-based sourcing applications intended to facilitate efficient direct materials sourcing. Ariba Collaborative Sourcing Professional is a source-to-contract solution available on the Ariba Network. The application is meant to integrate with existing internal systems, like ERP, as well as sourcing, contract, and supplier management applications to make sourcing activities seamless, whether they are direct or indirect. It is also meant to bridge gaps between procurement, product design, manufacturing, and contract teams and close the loop among all of these stakeholders.
Determine Releases Fourth Quarter and Fiscal Year 2016 Financial Results
On June 16, Determine, Inc. (NASDAQ: DTRM), the Indiana-based provider of contract management and source-to-settle solutions for the cloud, announced its financial earnings for the fourth quarter and Fiscal Year 2016. Formerly known as Selectica, the company rebranded last October as Determine and very recently relocated its corporate headquarters from San Francisco, California. In a call to investors earlier this month, company officials highlighted quarterly and yearly results. GAAP highlights for FY 2016 include:
- $26.8 million in revenue, compared to $20.9 million in FY2015 – a 28% increase compared to FY2015
- 52% increase in gross profit percentage – an 11% increase compared to FY2015
- $10.4 million in deferred revenues – a 23% increase compared to FY2015
GAAP highlights for 4Q FY2016 include:
- $6.68 million in revenue, compared to $5.92 million – a 13% increase compared to 4Q2015
- $3.29 million in gross profit, compared to $2,95 million – an 11% increased compared to 4Q2015
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