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!
Settle Unveils New Purchasing and Procurement Suite for E-commerce Businesses
SAN FRANCISCO — Settle, a leading cash-flow management platform, announced a new purchasing suite designed specifically for founders of e-commerce businesses. Purpose-built to streamline the challenge of purchasing and procurement, the new Settle Purchasing suite of tools automates back-office tasks like bill pay, purchase order creation, auditing, reporting, and more.
Features and benefits of Settle’s new purchasing suite include:
- Streamlined Purchase-to-Pay Process: Transforming the purchase-to-pay process into an all-in-one, seamless experience. Create POs in minutes and automatically email them to vendors.
- Simplified Auditing: Identify errors with a side-by-side comparison view of purchase orders, receipts, and invoices.
- Effortless PO Organization: Search POs and track statuses using customizable tags for easy organization.
According to Alek Koenig, CEO of Settle, “The current economic climate and supply chain uncertainty have made frictionless procurement and purchasing more critical than ever to the survival of a small e-commerce business. The problem is most solutions that claim to solve this problem are built for enterprises, cutting out smaller, resource-constrained businesses,” Koenig said.
“As a result, all of the office work involved is done manually, which creates room for delays and errors. Our new solution aims to level the playing field for these smaller players by giving them enterprise-grade purchasing and procurement capabilities at SMB pricing. This aligns with our vision of helping founders save time, reduce risk, and ultimately focus on what matters most: growing their businesses,” Koenig added.
Read the full announcement here.
JAGGAER Pay Open Connect Automates Payments with Any Global Payment System
RESEARCH TRIANGLE, N.C., — JAGGAER, a global leader in autonomous commerce, announces new enhancements to its integrated payments solution. JAGGAER Pay Open Connect enables end-to-end global accounts payable (AP) automation, providing users with the ability to onboard suppliers, process invoices, and originate all their global payments in a single, seamlessly integrated solution.
According to Dawn Andre, JAGGAER’s chief product officer, “Automated payments are one of the cornerstones of JAGGAER’s autonomous commerce strategy,” she said. “There is no one-size-fits-all solution to meet 100% of payment needs, so JAGGAER’s extensible platform enables a bring-your-own approach to complement our natively integrated partner apps. JAGGAER Pay Open Connect is not an add-on to your existing payments stack but rather replaces and automates the complete solution.”
The company stated that legacy AP payment processes are manual and inefficient. AP teams spend time bouncing between multiple systems and completing jobs using ERP software designed to manage the internal organization, rather than elegantly interfacing with external networks of suppliers, service providers, and financial institutions. JAGGAER Pay enables those teams to automatically create, approve, batch, and process payments based on approved invoices.
Alongside JAGGAER’s selection of natively integrated, best-in-class payment partner apps, users can now leverage end-to-end global AP automation plugged into any global bank or payments processor, such as JAGGAER Pay’s longstanding Open Connect verified partner, TransferMate.
Read the full announcement here.
Matt Clark Named Corcentric CEO
CHERRY HILL, N.J., — Corcentric, a leading global provider of best-in-class procurement and finance solutions, announced that executive chairman Doug Clark has named Matt Clark CEO of the company.
As president and CEO, Clark will lead long-term strategic initiatives that advance Corcentric’s business growth and market position, as well as oversee all daily operations across business lines and functions. A 19-year Corcentric veteran, he has also held senior roles within sales and operations in addition to his recent duties as president and COO.
According to Doug Clark, “As president and COO, Matt has been instrumental in the rapid growth of Corcentric in recent years, ushering in increased revenue, new customers, and executive team leadership, while integrating acquisitions that have solidified our market-leading technology and services,” Clark said. “His deep understanding of the industry along with Corcentric’s operations and people make this promotion a natural next step that will continue to propel the company to great success.”
Read the full announcement here.
Workday Announces 2023 Financial Analyst Day
PLEASANTON, Calif., — Workday, Inc., a leader in enterprise cloud applications for finance and human resources, announced that it will host its financial analyst day on Wednesday, Sept. 27, 2023 in San Francisco at 1:00 p.m. Pacific Time/4:00 p.m. Eastern Time.
The event will take place during Workday Rising, the company’s annual customer conference.
A live webcast of the event will be available on the Workday Investor Relations site. The replay of the webcast will be available for a minimum of 90 days after the conference call.
Read the full announcement here.
Bluevine Launches Accounts Payable Solution
JERSEY CITY, N.J. — Bluevine, a leading provider of small business banking solutions, announced the launch of its new accounts payable (AP) offering to help business owners and their teams simplify business payments management from within their Bluevine Business Checking accounts.
The company stated that business owners can now easily automate each step of their AP process, including bill capture and storage, approval workflows, payment scheduling, automatic accounting reconciliation, and user provisioning and management. As SMBs grow, keeping up with bill payment and management is as much a source of pain as it is essential for optimizing cash flow.
With few alternatives available to businesses of this size, the seamless addition of a robust AP feature set and easy-to-use dashboard to Bluevine’s all-in-one digital banking platform reinforces the company’s commitment to helping SMB owners save time and money by applying innovative solutions to everyday problems.
According to Charles Amadon, SVP, GM of Banking at Bluevine, “As small businesses scale, often they face more complexity in managing their operations. Our accounts payable solution is purpose-built to strike a balance between providing a robust set of AP automation tools, with the ease-of-use that our customers have come to expect from Bluevine,” he said.
“Every decision we make has the SMB at the heart of it, starting with the essential question – will this help them grow and run their business easier? Based on customer feedback we knew AP automation was something they wanted and needed. Putting all that power right into their checking account dashboard is an exciting step forward, and further differentiates Bluevine Business Checking with even more added value,” Amadon added.
Read the full announcement here.
