Basware Launches Catalog Management Service, Marketplace
On November 29, Basware, the Finland-based provider of e-invoicing and purchase-to-pay (P2P) solutions, announced that it has launched Marketplace, a catalog management service on the Basware Network. Marketplace had already been available to customers in the UK, and following a successful run there, it is now being opened up to other countries for over a million Basware customers worldwide. Marketplace allows private- and public sector buyers to leverage negotiated contracts with existing suppliers on the network and interact with them directly on a platform that closely resembles online shopping platforms, like Amazon or eBay. Once suppliers upload their catalogs to Marketplace, enterprise buyers are able to tap into them to purchase goods and services across an organization’s supplier base, with the goal to make B2B buying easier, increase volume, and pull more spend under management.
Ivalua Announces Update 152 for its Cloud-based Spend Management Platform
On November 2, Ivalua, a California-based provider of spend management solutions for the cloud, announced the third update of the year (Update 152) for its cloud-based spend management platform. Ivalua updated its platform in four key ways. First, they enhanced the platform’s “out-of-the-box” capabilities for a turnkey solution that offers quick configuration but robust capabilities. Second, Ivalua provided a simplified user experience that aims to reduce inefficiencies and drive high user adoption. Third, they improved the supplier management features of the solution, with a focus on enhancing compliance measures and levers to reduce risk vis-a-vis low/non-compliant vendors. Finally, Ivalua has simplified the manner in which users manage complex sourcing events inside the platform. Other updates include improved internal/external communication features and simplified P2P process workflows.
Intacct Launches New Spend Management Solution
Earlier this fall, Intacct, a California-based provider of accounts payable and ERP software solutions for the cloud, announced the release of a new spend management solution, Intacct Spend Management. The application automates the P2P process, closing critical gaps between upstream procurement and downstream payment. It automatically validates purchases made against budgets or pre-set limits; and it affords managers with the capability to deny payment if purchases are not compliant. Intacct Spend Management can be integrated with Intacct’s procurement applications; its validation capabilities can be set for particular periods of time; and can be configured based on different document types.
PROACTIS Acquires Millstream
PROACTIS Holdings, the UK-based provider of spend management and eProcurement solutions for the cloud, has finalized its acquisition of Millstream Associates, a UK-based provider of public-sector procurement services and solutions, for £15.5 million. According to Proactis officials, the acquisition fuels its growth strategy, broadens and deepens its product offerings, and allows it to cross-sell to Millstream Associates customers.
Exostar Announces Supply Chain Finance Partnership with Taulia
On November 29, Exostar, the Northern Virginia-based provider of cloud-based source-to-pay (S2P) solutions for the aerospace and defense (A&D), healthcare, and life science industries, announced that it has partnered with San Francisco-based Taulia to deliver supply chain finance (SCF) capability to Exostar’s A&D clients. As a result, buyers and suppliers in the A&D industry will be able to use Taulia’s cloud-based SCF software-as-a-solution that has been intregrated with Exostar’s S2P platform. Users will have single sign-on capability, secure in-browser payment status capability, and for suppliers, the ability to receive payment at any time between invoicing and the end of the payment window. Readers may recall that we profiled Exostar back in August and that we selected Taulia as one of our 2014 Hot Tech Prospects.
SpendHQ Partners with InsideView to Integrate Supplier Information Management
On December 1, SpendHQ, an Atlanta, Georgia-based provider of spend analysis solutions, announced that they have partnered with InsideView, a “targeting intelligence” solution provider for marketers, to incorporate supplier information management capabilities into SpendHQ’s spend analysis solution. InsideView’s solutions leverage advanced algorithms and human logic to crunch numbers and deliver refined intelligence to users directly within the platform. The integration sees InsideView’s APIs integrated directly into SpendHQ’s platform so that sourcing and procurement practitioners can marry spend intelligence with supplier intelligence for a more holistic look at operations. Users can not only examine their spend by supplier, category, and timeframe, but can also look at market data to examine supplier compliance, performance, and risks.