CPO Rising’s Technology Round-Up Series returns today with fresh supply management technology news and updates covering a few recent major announcements. 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 info at cporising dot com. Thanks, and enjoy!
Ivalua’s Latest Innovation Helps Reduce the Environmental Impact of Supply Chains
REDWOOD CITY, Calif. — Ivalua, a global leader in cloud spend management solutions, announced the launch of its Environmental Impact Center (EIC), a solution that enables organizations to measure and reduce their value chain (or Scope 3) emissions.
Sustainability is a top priority for most enterprises today as regulatory requirements and public awareness grow. Ivalua states that any efforts to impact emissions and reach net zero targets must involve the reduction of Scope 3 emissions, which constitute over 75% of total emissions at most organizations.
By integrating the EIC’s functionalities in their procurement practices, organizations can dramatically accelerate sustainability agendas with reliable emissions data for all the direct and indirect products and services they acquire and establish transparent reporting standards, states Ivalua.
This puts the procurement function in a central role in establishing a transparent emissions baseline using reliable data and collaborating with suppliers on carbon savings plans to meet reduction targets and for reporting and risk assessment.
According to Pascal Bensoussan, chief product officer at Ivalua, “In contrast to other solutions, the EIC will allow procurement to build baseline estimates for products and categories where verifiable supplier data does not exist,” he said.
“They can use these models to focus on high-emitting categories and products. They can then collaborate with suppliers to verify actual product emissions, define improvement plans to reduce emissions, and, ultimately, accurately track and report progress. EIC will aid our customers in establishing a more sustainable supply chain to reduce both greenwashing and green-guessing,” Bensoussan adds.
Read the full announcement here.
TransPerfect’s GlobalLink Technology Certified for Coupa’s BSM Platform
NEW YORK — TransPerfect, a leading worldwide provider of language and technology solutions for global business, announced that its GlobalLink translation management technology has been certified for integration into Coupa’s Business Spend Management (BSM) platform.
The company states that the combination of Coupa’s BSM platform and GlobalLink’s centralized user interface provides a seamless, one-stop solution to facilitate the translation process for purchase orders, quoting, and purchase order creation. As a certified CoupaLink solution, GlobalLink meets the requirements established by Coupa for security and functionality.
GlobalLink for Coupa features, include:
- Seamless integration – schedule or use on-demand translation directly on the Coupa platform.
- On-demand analytics – get a dashboard view of translation spend and other KPIs.
- Vendor management – use internal or external translation resources.
- Flexible workflows – use machine translation, human translation, or both with automatic notifications when quotes are ready for review.
- Rapid ROI – reduce IT involvement and eliminate project management overhead.
According to Roger Goulart, executive vice president of business development and alliances at Coupa, “In today’s rapidly evolving market, a punch-out integration enables real-time pricing updates and provides custom configurations with a user-friendly interface,” he said. “We’re proud to have GlobalLink on the Coupa App Marketplace to give our customers a seamless experience when requesting purchase orders for their translation submissions.”
Read the full announcement here.
Aavenir Announces Latest Product Release
DALLAS — Aavenir, a leading source-to-pay SaaS solutions provider and ServiceNow Elite Partner, empowering organizations worldwide to streamline their sourcing, procurement, contracting, and accounts payable processes with AI-enabled digital workflows, announced the latest product release of its AP automation software Aavenir Invoiceflow.
According to Jesal Mehta, Founder and CEO of Aavenir, “This Winter Release is a game-changer for AP teams as it will drastically improve the user experience and efficiency for organizations. We have introduced self-service supplier portals which will accelerate invoice processing allowing AP teams to coordinate with suppliers with improved collaboration over invoice submission and payments,” he said.
“The new release also introduces zero-touch invoice processing and bulk action accelerators for speedy and streamlined invoice processing with complete visibility across review and approval processes — leading to shortened accounts payable cycles.”
The company states that a few key features of the new release, include:
- Split invoice processing: Enables the differentiation/split of multiple invoices shared in a single document or PDF.
- Improved invoice search Experience: Offers flexible invoice listing for simplified search, sorting and personalized view.
- New dashboard reports: Provides visibility into spend segmentation based on vendor, status, and PO/Non-PO.
Read the full announcement here.
Emburse Partners with GreeMko to Address Corporate Sustainability
LOS ANGELES & PORTLAND, Maine — Emburse, a global leader in spend optimization, announced a new alliance with GreeMko to help companies meet their ESG commitments and achieve more sustainable travel.
The company states that through this partnership, Emburse will provide customers of its Emburse Captio expense automation solution with rich data and greater insights by calculating the carbon footprint of employee expenses. Once an expense is entered into Emburse Captio, the information will be converted into tonnes of CO₂ equivalent, leveraging data supplied by GreeMko.
With this data in hand, companies can more accurately report on their total carbon emissions, meet the Greenhouse Gas (GHG) Protocol Scope 3 standards, or achieve certification in ISO 14064.
According to Eric Friedrichsen, CEO of Emburse, “We’ve entered a new era of business travel, and the need for sustainability is even more critically important than before. Yet, just like other areas of accounting in a business, if carbon emissions are not tracked, they’re not being managed,” he said.
“Through the partnership between Emburse and GreeMko, businesses can harness reliable, accurate data to enhance their reporting, budgeting, and guidance around carbon footprinting. This will also equip leaders with insights to guide travel policies and identify the most sustainable options.”
Read the full announcement here.
B2B Buy Now Pay Later Platform, Tranch, Raises $100 Million Seed Round
NEW YORK — Tranch, a buy now pay later (BNPL) platform for SaaS sellers and services providers, has raised $100 million in seed equity and debt funding to bring payment flexibility to a wider pool of B2B customers.
The funding round was led by Soma Capital and FoundersX. Additional institutional investors participated in the round, including several U.S. and UK fintech founders. The funding round includes a credit facility from Clear Haven Capital Management. Tranch’s existing investors include Global Founders Capital and Y Combinator.
The company states that businesses spend over $29 trillion on invoice payments in the U.S. every year. Moreover, most invoices are payable within 10 to 30 days, which puts significant pressure on both suppliers and customers’ working capital alike. In a challenging macro-economic environment where over 40% of B2B transactions are still settled by check and nearly 50% of B2B invoices are overdue, Tranch is bringing to the B2B market a level of flexibility and choice that significantly improves cash flow management for both suppliers and customers.
According to Philip Kelvin, Co-founder and CEO of Tranch, “Since securing our pre-seed funding and completing the Y Combinator program, the total value of invoices we’re handling every month has increased tenfold.
“…Against this challenging macroeconomic backdrop, buyers and suppliers have to ensure they can optimize their working capital cycle, and B2B BNPL is a commonsense way to achieve that. With our new investors and substantial credit facility in place, we’re in a great position to continue our growth in the U.S. market out of our New York office so that every SMB that needs it can ‘pay with Tranch’ flexibly and on their own terms,” he adds.
Read the full announcement here.
RELATED RESEARCH
The Role of Sustainability and ESG in the Post-COVID 19 Supply Chain
EcoVadis @IvaluaNow: Enterprises Catching ESG Tailwinds
Procurement Experts on CPO Rising — Tracking and Measuring Sustainability Progress
Procurement Experts on CPO Rising — Hardwiring Sustainability into the Business
Register for Ardent Partners’ New Webinar
Tagged in: Chief Procurement Officer, CPO, Procurement, Solution Providers, Sustainability, Tech Round-Up, Technology
