CPO Rising’s Technology Round-Up returns today with 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!
Jaggaer Releases Panther, Follows Strong Quarterly Performance
EcoVadis Announces Sustainability Leadership Awards, Next-Gen Sustainability Intelligence Platform
Procurex Announces Updated Reverse Auction Tool
Jaggaer Releases Panther, Follows Strong Quarterly Performance
North Carolina-based JAGGAER had an adventurous week last week. The source-to-settle solutions provider formerly known as SciQuest made a pair of announcements concerning its indirect spend management tool, Panther, and financial performance results for the first quarter of 2018. First, let’s address the panther in the room.
Panther, Release 18.1 incorporates customer feedback to enhance indirect spend management capabilities across multiple industries, namely manufacturing, consumer packaged goods, healthcare, education, and life sciences. It includes enhancements to mobile contract management, allowing users to edit and send Word documents via an embedded email system that captures proposed edits. It also enables users to automatically create invoices from purchase receipts, skipping the PO-generation step. It also facilitates faster processing of one-off purchases / operational procurement with dynamic invoice processing. Finally, Release 18.1 features a native project management for procurement tool, which helps stakeholders record, track, plan, validate, and reference project information on a shareable dashboard.
On the heals of Panther’s release, Jaggaer also shared some financial and operational highlights from the first quarter of calendar year 2018. These include: Bookings up 37% from Q4 2017, 40 additional customers across ten industries, and “record breaking” global revenues.
EcoVadis Announces Sustainability Leadership Awards, Next-Gen Sustainability Intelligence Platform
EcoVadis had a busy week, too. At its annual Sustain conference, the Paris and New York-based provider of supply chain sustainability and ethical sourcing rating services announced the winners of its second annual Sustainability Leadership Awards. The awards recognize EcoVadis users that over the past year scored highest on their sustainability scorecards and ratings. Winners of this year’s Sustainable Procurement awards include Johnson & Johnson (Stakeholder Engagement); Nestlé (Best Supplier Portfolio CSR Performance Improvement), and Faurecia, (Supplier Engagement). EcoVadis also awarded Valerie Monk, Head of Third Party Oversight, GlaxoSmithKline, with its first annual Outstanding Sustainable Procurement Program Leadership award. EcoVadis then awarded more than a dozen organizations for their Sustainability Leadership – by category, region, and corporate grouping (for an exhaustive list, please click here).
Also at Sustain, EcoVadis announced the release of its updated sustainability intelligence platform, EcoVadis 10. According to company officials with whom we spoke, the updated platform puts the user and user experience (for buyers and suppliers) at the forefront. Both parties can access the same platform, which can help to centralize operations for organizations that are both buyers and suppliers and to facilitate trading partner collaboration. Buyers will soon have a consolidated list of their suppliers with the ability to filter and tag suppliers. They will also have a dashboard that visualizes supplier information and integrates news feeds from around the world that buyers and category managers can monitor to keep tabs on their supplier base in near-real time.
ConnXus Launches Supplier Risk Management Tool, Partners with Agiloft to Integrate Contract Management Suite
Earlier this month, ConnXus, an Ohio-based provider of supplier discovery, diversity, and management systems for the cloud, made a couple of exciting announcements. First, it announced that it has launched a supplier risk management solution, dubbed Risk Detexion, which can enable users to access real-time alerts on a number of supplier risks, like OFAC watch lists, modern slavery accusations, and potential mergers and acquisitions. And with Risk Scorecard, users can also rate suppliers based on their financial risk factors. ConnXus also announced that it has partnered with Agiloft, a California-based provider of contract management solutions, to help ConnXus users manage their supplier contracts. Users can access Agiloft’s contract management suite via ConnXus’s supplier diversity, strategic sourcing, and procurement platform.
Procurex Announces Updated Reverse Auction Tool
Pennsylvania-based Procurex, which provides reverse auction platforms for public sector, education, and commercial procurement offices, informed us that it has released an updated version of its reverse auction tool. The tool is a web-based, full-service solution that enables users to run reverse auctions for the fulfillment of business needs. Procurex staffers set up and run reverse auctions, while decision makers observe. New features include an updated platform with enhanced reporting features; pan device and web browser compatibility; a more user-friendly interface, including easier navigation through the solution to host a reverse auction; a centralized dashboard that gives users a consolidated view of active reverse auctions; and the ability to host prime vendor contracts.
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