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!
Simfoni Announces Acquisition of Xeeva
SAN FRANCISCO — Simfoni, a digital solutions provider for procurement intelligence, eSourcing, and tail spend management, announced that it has joined forces with Michigan-based Xeeva, a fellow leader in AI-powered spend management and procurement technology solutions.
According to Chirag Shah, Simfoni Chairman, “Combining forces with Xeeva represents a very rare and unique opportunity to leverage a highly complementary and synergistic solution provider to scale our operational infrastructure and extend competencies in a way that further differentiates our Composable Procurement™ concept.”
The company states that for Simfoni, which has continued to achieve triple-digit percentage revenue growth year over year, having access to expert procurement resources to support this growth has been a significant motivating factor behind the acquisition.
“It’s no secret that specialized talent, especially in procurement, has become increasingly hard to come by,” Shah continues. “We are excited to welcome Xeeva employees to the Simfoni family and extend that familiarity and our unique Composable Procurement™ model to Xeeva’s clients.”
Read the full announcement here.
Celonis and EcoVadis Partner on Procurement Process Sustainability
NEW YORK and MUNICH — Celonis, a global provider in execution management, and EcoVadis, a supplier sustainability ratings platform, announced a partnership to make business procurement processes more sustainable. Celonis will integrate EcoVadis sustainability ratings data into the Celonis Execution Management System (EMS).
The company states that this joint commitment from Celonis and EcoVadis is part of the Celonis strategy to empower every company to reduce its carbon impact and execute in a sustainable way through the elimination of process inefficiencies. The Celonis strategy is based on embedding sustainability practices into day-to-day process operations for all its customers and partners.
According to Emily Rakowski, chief marketing officer at EcoVadis, “Embracing sustainability criteria in the purchasing function is one of the top challenges in achieving an effective sustainable procurement program,” Rakowski said.
“With Celonis, we can bring sustainability ratings to the most actionable decision points while powering a rich set of automations in the procurement workflow, creating a triple win of driving efficiencies, risk reduction, and positive impact,” she adds.
Read the full announcement here.
Dooap Partners with Pagero to Deliver Enhanced Accounts Payable Experience
AUSTIN, Texas and TAMPERE, Finalnd — Dooap, a Microsoft Preferred accounts payable automation solution designed exclusively for Microsoft Dynamics 365 Finance, announced a new partnership with Pagero, a provider of digital solutions for the order-to-cash and purchase-to-pay processes, allowing Microsoft Dynamics users improved and highly automated accounts payable processes.
The company states that through this partnership, customers can use Pagero’s network to digitize their entire incoming invoice flow and Dooap’s AP automation solution to automate invoice approval and processing.
According to Antti Kosunen, founder of Dooap Oy, “Our solutions complement each other perfectly, and together with Pagero we can offer our customers access to a global e-invoicing network and an automated and managed end-to-end process,” he says.
“Our relatively young companies offer state-of-the-art solutions that meet today’s operational requirements. The services must be versatile and serve the customer’s needs, and our paths meet here as well. We both emphasize fast implementations and ease of use, and it is also important for Pagero as well as Dooap to deliver first-class customer service for our customers, both during the implementation and also post-go-live,” Kosunen adds.
Read the full announcement here.
Kyriba and J.P. Morgan Payments Announce Real-Time Treasury Solution
SAN DIEGO — Kyriba, a global provider of cloud-based finance and IT solutions, and J.P. Morgan Payments, announced a new real-time treasury solution with a new API that delivers real-time cash visibility and bank reporting, which will be made available to their mutual clients.
The end-to-end process automation, using J.P. Morgan’s open banking API capabilities, enhances existing API-based connectivity and enables more frequent data retrieval and status updates to power real-time decision-making on investing cash balances.
According to Bob Stark, global head of market strategy at Kyriba, “We are excited to deliver real-time payments and bank reporting through a deep integration with J.P. Morgan Payments,” he said. “The new API integration empowers our mutual clients with real-time treasury and rapid decision support to improve financial resilience through accelerated investments, reduced borrowing, and more effective hedging.”
Read the full announcement here.
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