CPO Rising’s Technology Round-Up returns today with an 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 are continually innovating the way that procurement and supply chain leaders and practitioners drive value, we’d love to hear from you. Please drop us a note at editor at cporising dot com. Thanks, and enjoy!
Following Acquisition, Determine Prepares to Liquidate, Cease Trading
Late last month, Determine, Inc. (NASDAQ: DTRM), the Indiana-based provider of contract management and source-to-settle solutions for the cloud, began “the wind up, liquidation and dissolution” process following its acquisition by Corcentric. Now that substantially all of Determine’s assets have been transferred to the New Jersey-based provider of financial process automation and procure-to-pay (P2P) solutions, Determine’s Board of Directors decided to cease filing reports to and deregister with the U.S. Securities and Exchange Commission (SEC), and cease trading on the OTCQB. Doing so will save the company overhead on accounting, audit, legal and other costs that it can redistribute to its shareholders at a rate of between $0.10 to $0.14 per share of common stock. Company officials do not have an official date for distribution but intend to make the distributions as soon as practically possible. Determine Board Directors also decided to resign from the Board, with the exception of Michael Casey, who is now the “sole and independent director.” John Nolan will also serve as President, Secretary and Treasurer of the Company.
MineralTree Partners with Procurify to Drive P2P for the Mid-Market
Last month, MineralTree, a Massachusetts-based ePayables and payment automation provider for the mid-market, announced it has partnered with Procurify to drive P2P for mid-market organizations. Procurify is a British Columbia-based provider of an automated P2P solution for the cloud. Together, the two companies hope to round out each other’s solutions — one is strong on AP automation, the other on P2P — and bring a complementary solution set to its mutual customers, particularly mid-market organizations.
Avetta “Connects” with Supply Chain Risk Analysis and Management Tool
Earlier this month, Avetta, a cloud-based supply chain risk management (SCRM) solutions provider, announced that it has launched a new supply chain risk analysis and management dashboard, Connect. The new tool is said to be highly configurable, enabling users to create customized dashboards with unique charts, graphs, drill-down capability, and support dozens of languages. Users can centralize internal information from accounting, ERP, and other systems, as well as supplier information, to analyze SCRM information. Users can conduct advanced analysis, as well as predictive analysis using historical and current-event data to make predictive calls on potential future events. Avetta worked with customers to create an intuitive user interface that is available on virtually any device; and, because it is cloud-based, one that is available anywhere and anytime.
The Smart Cube Launches Market Intelligence Platform, Amplifi PRO
Last week, the Smart Cube, a London and New Delhi-based provider of procurement services and solutions, announced the release of a new market intelligence platform for procurement users, Amplifi PRO. According to company officials, this builds upon an earlier release in November 2016 of Amplifi, an internal organizational intelligence platform, which other users requested to access. Amplifi PRO gives The Smart Cube users, particularly category managers, wider access to self-service procurement intelligence culled from the Smart Cube’s own internal experts. Users now have access to a plethora of capabilities and tools, including: more than 250 category insight reports, decision-support tools like “next step questions” and category strategy development tools, insight into category cost structures and drivers, country risk ratings, supplier risk profiles, category news (major events in key categories), “Smart” Forecast, and a host of other tools, like spend visualization, sourcing (RFx) tools, and supplier management tools.
CreditRiskMonitor Announces Q1 2019 Financial Performance Results
Earlier this month, New York-based CreditRiskMonitor (OTCQX:CRMZ), which provides procurement teams with internet-based reporting and analysis on supplier financial performance, credit, and risk, announced its own financial performance results for the first quarter of 2019. Company officials touted their commitment to new product investments, solvency, and operating cash, despite slow financial growth from year-over-year. First quarter highlights include:
- Revenue of $3.50 million compared to $3.37 million in Q1 2018, a 4% increase
- Net loss of $136,500, down from $255,436 from Q1 2018
- Cash and cash assets are up since the end of 2018 to $323,100, compared to a deficit of $329,900 million in Q1 2018
Wolters Kluwer Acquires CLM Matrix, Adds CLM to Solution Suite
Finally, Wolters Kluwer, a Netherlands-based global information services provider, announced last week that it has acquired CLM Matrix, a Texas-based provider of contract lifecycle management solutions through Microsoft Sharepoint. In doing so, Wolters Kluwer’s ELM Solutions unit intends to add to its legal contract management solutions and services to its portfolio serving enterprise legal and claim management departments. CLM Matrix’s SaaS-based contract creation, execution, and analysis platform, made available on Microsoft Sharepoint, is said to complement Wolters Kluwer’s enterprise legal spend and matter management and legal analytics solutions.
RELATED ARTICLES
Corcentric Completes Acquisition of Determine Inc. for $32 Million
Procurify Acquires VendorBase, Rebrands it as Procurify Exchange
Avetta Acquires Browz to Create a Unified SCRM Provider
The Smart Cube Launches Smart Risk, a Supply Chain Risk Management Tool
CreditRiskMonitor Announces Q1 2018 Financial Performance Results
