CPO Rising’s Technology Round-Up returns today with fresh supply management technology news and updates from the past month. 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!
Zycus Releases New Contract Lifecycle Management Platform on Salesforce
Zycus, a New Jersey-based provider of suite-based and standalone source-to-settle solutions, recently announced the availability of its new enterprise Contract Lifecycle Management (CLM) platform, Zycus CLM Connect, which is now available on Salesforce AppExchange. This new integration will allow users to manage their end-to-end contract processes from their Salesforce application. Users of the CLM Connect App will be able to initiate contract creation requests directly from Salesforce, which should help to increase efficiency of the sales community. The contracts will be automatically created in iContract, Zycus’s platform-based contract management application, and pull the necessary fields from Salesforce. Other key tasks that users will be able to execute include single-click contract request opportunities, contract creation standardization with legally approved templates from Salesforce, and the ability to track contracts against opportunities from Salesforce.
Corcentric Receives $80M in Funding
Earlier this month, Corcentric, a New Jersey-based provider of financial process automation and procure-to-pay (P2P) solutions, announced that is has raised $80 million in funding. The New York-based Bregal Sagemount private equity firm made the minority growth equity investment. Over the last 24 months, Corcentric has acquired and integrated with other solution providers, including SourceOne, NetSend, and Determine, to become an end-to-end provider of sourcing, group purchasing, procure-to-pay, and order-to-cash solutions. With this latest round of funding, Corcentric intends to use this investment in four primary areas – 1) Install Base Growth, 2) International expansion, 3) Expanded Partner Ecosystem, and 4) Solution Development. Check back early next week for our discussion with the Corcentric team and their plans for 2020 and beyond.
SirionLabs Raises $44M in Series C Funding
Last week, SirionLabs, a SaaS provider in enterprise contract lifecycle management (CLM), announced that it had received $44 million in Series C funding. This round of funding was led by Tiger Global and Avatar Growth Capital, and brings SirionLabs’ total capital raised to $66 million to date. SirionLabs will look to strengthen its AI-powered CLM platform, grow sales, and expand to handle the surge in demand from clients, as it has seen 4x customer growth over the last 18 months. The company also announced that the funding will help with the establishment of its new Seattle-based technology center. SirionLabs, was founded in India in 2012, and has global offices in New York, India, and Singapore.
JAGGAER Announces Latest Software Enhancements
JAGGAER, the North Carolina-based provider of source-to-settle solutions announced the release of its latest software JAGGAER ONE 20.1. Jaggaer provides tri-annual releases to its customers and the new release should offer customers new and enhanced functionality to help streamline source-to-pay activities and provide additional visibility, insights, and compliance management. The JAGGAER ONE 20.1 software suite offers users a streamlined design for site navigation, new product icons, and a clean working space to deliver an efficient consistent user interface across all JAGGAER products. The new JAGGAER Smart Assistant allows users to enter natural language search queries. Other areas that provide additional guidance to users include a recommendation wizard for proactive supplier management, and a delivery lead-time predictor.
SAP Provides Access to SAP Ariba Discovery Solution
With the supply chain disruption caused by the COVID-19 pandemic, SAP has responded by opening access to the SAP Ariba Discovery solution. Opened access has allowed buyers with immediate sourcing needs to connect with suppliers on the Ariba network. More than 25,000 new suppliers joined the Ariba Network in the first quarter this year, which brings the total number of connected companies to 4.8 million. SAP also reported that it had added 75 new customers, had 240 client renewals, and had 200 “go-lives” from the first quarter of 2020. The SAP Procurement Solutions group includes SAP Ariba, SAP Fieldglass, and SAP S/4HANA®-based offerings for operational procurement, delivering a comprehensive suite for goods and services procurement and external workforce management.
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