Basware Refreshes Verian eProcurement Solution Suite
On August 2, Basware, the Finland-based provider of e-invoicing and purchase-to-pay solutions, announced the summer release of Verian’s eProcurement solution suite following its acquisition of the company earlier this year (click here to read about the acquisition and here to read about its initial deployment). The refreshed eProcurement solution suite features enhanced automation workflows, one-click ordering via email, and enhancements to its mobile application, which ought to increase efficiencies and user experience for remote workers (for example, by allowing for remove purchasing and approval).
SciQuest Officially Goes Private, Updates Source-to-Settle Platform
On July 29, The News & Reporter reported that private equity firm Accel-KKR had completed its $509 million acquisition of SciQuest, a the North Carolina-based provider of supply management solutions for the cloud. As of Thursday, July 28, SciQuest was no longer trading on the Nasdaq, indicating that the company is once again a private entity (this is the second time that the company has become privately held). Readers may recall that we covered the initial news of the acquisition when it was announced at the end of May (click here to read our coverage).
In other SciQuest news, it announced on August 2 several updates to its source-to-settle solution suite, mainly enhancements to its mobile applications that ought to allow for easier mobile purchasing. The updates include the ability to purchase goods and services from mobile punch-out catalogs, as well as hosted catalogs for an improved mobile buying experience. The new application also features improved process workflows, tighter alignment between other apps, and greater visibility into processes being carried out via the mobile app.
Hubwoo Announces Financial Results for Second Quarter 2016
On July 28, 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 second quarter of 2016. Hubwoo officials attributed decline in revenue and in the SaaS component to the lapse of customer contracts and ultimately to the company’s technology transition that it had undergone in the last several quarters. Second-quarter highlights include:
- 5.3 million Euros in consolidated revenue, compared to 6.2 million Euros in 2Q 2015, or a -15% difference year-over-year
- 4.8 million Euro SaaS component, compared to a 5.2 million Euro SaaS component in 2Q 2015, or a -9% difference year-over-year
- 0.5 million Euro servivces component, compared to a 1.0 million Euro services component in 2Q 2015, or a -46% difference year-over-year
Allegis Global Solutions Launches SIGMA MSP
On July 26, Allegis Global Solutions, a Maryland-based provider of talent acquisition and workforce management solutions, announced the release of a new contingent workforce management (CWM) offering, SIGMA MSP, for companies in the $5 to $50 million annual contract labor expenditure bracket. The new offering allows companies to work with existing/preferred suppliers to fill candidate requests and on a platform that is pre-configured to facilitate faster acquisition, onboarding, payment, and offboarding. SIGMA MSP can also provide users with enhanced business intelligence, reporting, and visibility via its analytics platform, ACUMEN. Finally, SIGMA MSP is said to rapidly deploy upon implementation, likely due to its pre-configured technology platform.
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Private Equity Firm to Buy SciQuest and Take it Private
