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!
Beeline Receives Strategic Investment from Stone Point Capital
JACKSONVILLE, Fla., May 3, 2022 — Beeline, an independent leader in software solutions for sourcing and managing the global extended workforce, announced it received a majority investment from funds managed by Stone Point Capital, a leading private equity firm. The investment enables Beeline to continue innovating its leading technology platform and bring additional solutions to market. Beeline’s existing investor New Mountain Capital remains a minority investor for the company.
Beeline CEO Doug Leeby says businesses have reached an inflection point in how they use and manage talent. With contingent workers accounting for nearly half of the global workforce, this is an exciting partnership for Beeline to meet the growing needs of organizations.
Read the full announcement here.
Keelvar Raises $24 Million in Series B Funding
CORK, Ireland, May 16, 2022 — Keelvar, a global pioneer of intelligent sourcing and automation solutions, announced that it raised $24 million in Series B funding to simplify and radically improve procurement. The investment — which brings Keelvar’s total capital raised to $43 million — was led by 83North.
Keelvar founder and CEO Alan Holland says the organization sees an immense opportunity to alleviate economic and supply chain bottlenecks by making the sourcing process easier, faster, and more intelligent. Its technology automates the tactical aspects of managing a sourcing event and leverages artificial intelligence to weigh various sourcing scenarios and guide customers o the best decision for their supply chains.
Read the full announcement here.
ServiceNOW Introduces Procurement Service Management Solution
SANTA CLARA, Calif., May 25, 2022 — ServiceNow (NYSE: NOW), a leading digital workflow company making the world work better for everyone, introduced its new Procurement Service Management (PSM) solution to help transform procurement across the enterprise and speed up delivery times for simpler sourcing tasks through digitization and self-service.
With enterprises looking to digitally transform their operations and divert more resources to strategic initiatives and supplier collaboration, PSM addresses this need by digitizing lower-value tasks so teams can focus on work that matters and deliver the highest-value outcomes.
The company says in its press release that PSM is built on the Now Platform, which enables rapid innovation and transformation by combining hyperautomation technologies like low-code application development, artificial intelligence, process mining, integration, and RPS to connect modern, legacy, or unstructured data sources and accelerate digital transformation.
Read the full announcement here.
SirionLabs and KPMG Partner to Transform Contract Management
BERLIN, May 25, 2022 — SirionLabs, a provider of AI-powered contract lifecycle management (CLM) solution SirionOne, has entered into an alliance with one of the leading auditing, tax, and advisory firms in Germany, KPMG AG Wirtschaftsprüfungsgesellschaft (KPMG).
According to their press release, the alliance is designed to help KPMG’s clients accelerate the digitization of their entire contract lifecycle encompassing supplier and client mandates. The solution covers contract authoring, performance management, invoice auditing, relationship management, risk management, and advanced analytics.
Read the full announcement here.
Resilinc Partners with Snowflake on Supply Chain Risk Monitoring
MILPITAS, Calif., May 11, 2022 — Resilinc, a leading supply chain risk monitoring and mapping solution, has partnered with Snowflake to provide organizations with near real-time alerts for disruptive events that could impact their supply chain.
The partnership allows Snowflake customers to leverage Resilinc’s EventWatch, a 24/7 global event monitoring service that contextualizes and analyzes more than 1.7 billion news feeds about potential and existing supply chain disruptions from approximately 4.7 million sources, including daily news, government regulatory reports, and social media.
Per the press release, Resilinc CPO Sumit Vakil, says, “Being alerted in real time about a factory fire, a labor violation, or a hurricane in a specific location, gives organizations visibility into a potential disruption and time to determine how to mitigate it.”
Read the full announcement here.
UPCOMING WEBINAR – If you enjoy our research be sure to register for our upcoming webinar, The Procurement Metrics that Matter in 2022, where we will be unveiling the key performance metrics for CPOs and other procurement leaders.
