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!
Ivalua Offers Pre-Packaged Solutions for Manufacturing Industry
Earlier this month, our friends at Ivalua, the Redwood City, California and Paris, France-based provider of strategic sourcing and procure-to-pay solutions, announced the release of pre-packaged spend management solutions for the manufacturing industry. The source-to-settle solution suite and its component products are built with the same code base as solutions geared towards other industries, but incorporate best practices and unique features that are best suited for manufacturers. According to Ivalua, the pre-packaged solutions will enable users to more rapidly respond adapt to changing business and product requirements (for example, by changing configurations) and realize a faster ROI.
Ivalua’s pre-packaged solutions for manufacturers feature Bill of Materials (BoM) management, which, according to Ivalua, seeks to provide teams with more effective supplier selection and cost modeling, greater visibility into BoMs, better supply chain optimization, and ultimately faster “speed time to market.” The manufacturing package also features an advanced product quality planning tool, which ought to help users boost product quality. Additionally, users will have the ability to collaborate with their suppliers on managing purchase orders and forecasting, as well as on managing assets and tooling lifecycles.
With $20 Million Funding, Procurify to Expand Company, Market Reach
Late last month, Procurify, a British Columbia-based provider of an automated P2P solution for the cloud, announced that it has received $20 million in Series B funding to further expand its sales and marketing team and pursue additional market share abroad. Procurify will use this round of funding to grow its product development team and pursue additional sales and marketing initiatives, plus make a play for the small-to-mid-sized business (SMB) market. No less than five investors contributed towards this round of funding for Procurify. Stay tuned for more updates coming from Procurify soon.
Bamboo Rose Releases Solutions for Manufacturing and SMBs
Also late last month, Bamboo Rose, a Boston-area business-network provider that specializes in driving new product innovation among trading parties, announced the release of two versions of its marketplace geared towards manufacturers and SMBs. Dubbed simply “Bamboo Rose for Small-and-Medium-Sized Businesses” and “Bamboo Rose for Manufacturing,” the two platforms in their unique ways are intended to foster easier collaboration and greater innovation between businesses, their suppliers, and ultimately their customers.
According to company officials, Bamboo Rose for SMBs promises faster implementation times and thus reduced implementation costs; a centralized platform where users can conduct sourcing and global trade management, foster collaborative innovation, and manage their supply chains; and access to business services for supply chain management, like logistics, freight forwarding, and customs house clearance.
At a high level, Bamboo Rose for Manufacturing seeks to give manufacturing companies’ go-to-market strategies a boost from new product development, collaboration, and innovation. Specific features include the ability for manufacturing companies to manage product lifecycles — from ideation to development to sales and marketing; one B2B marketplace that also enables them to collaborate with their customers as they seek to expand to global markets; and the ability to find additional sources for products and components.
Fluxym Grows in More Ways than One
Earlier this month, Montreal-based Source-to-Settle solution provider, Fluxym, informed us that the company has experienced record growth in terms of its client roster, company revenue, and company size. According to Fluxym officials, the company has won 30 new customers and recorded a 30% growth in revenue thus far in 2019. Since the end of 2018 the company has grown in size and opened new offices in new locations, with an office in Lyon, France a satellite office in Singapore, and plans to open additional offices worldwide. As a refresher, Fluxym is a value-added reseller of source-to-contract, procure-to-pay, and source-to-pay technology, as well as a systems integrator and an advisory service provider. As such, it reports having more than 100 collaborative relationships across the source-to-settle solutions provider spectrum.
Suplari Gets “Intelligent” with T&E Spend Management
And finally, Seattle-based finance and spend intelligence solutions provider, Suplari, announced earlier this month the release of a variety of intelligent applications for travel and expense management. Insights Applications, as they are called, are intelligent analytic tools that leverage advance algorithms to continuously monitor, scan, and analyze data across the enterprise and look for opportunities to optimize spend, risk, and compliance. Their “targets” include everything from suppliers, business units, end users, spend categories, and enterprise spend. Suplari’s newest Insights Application, T&E Insights Pack, monitors and scans for “rogue employees,” fraudulent behaviors, suspicious expenses, excessive spending, or expenses that are simply non-compliant. It also enables managers to tap into other datasets from across the enterprise, like accounts payable, contracts, and travel bookings data to “connect the dots”, provide more context to the expenses or behaviors, or simply validate the data.
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