CPO Rising’s Technology Round-Up returns today with assortment of supply management technology news and updates from the past month to share with our community. If you are a sourcing, procurement, or spend management solution provider and you have news to share with us, please drop us a note at editor at cporising dot com. Thanks, and enjoy!
LevaData Launches Cognitive Sourcing Maturity Model Assessment Tool for Sourcing Teams
Last week, LevaData, a California-based provider or cognitive or “smart” analytics technologies for procurement and sourcing, announced that it has launched a new self-assessment and auditing tool called “Cognitive Sourcing Maturity Model Assessment.” The tool is meant to help sourcing and procurement leaders understand if they are ready (and if so, how ready) for digital transformation and if it makes sense to invest in cognitive sourcing tools. To do so, the assessment tool looks inward to examine an organization’s structure, processes, sub-processes, technology infrastructure, sourcing negotiations, and other facets in a 360 degree analysis to assess where along a maturity curve an enterprise sourcing team sits. The tool rates them at five different levels — 1) Ad hoc, 2) Reactive, 3) Anticipating, 4) Learning and Orchestrating, and 5) Continuous. From there, sourcing and procurement leaders can make informed decisions as to the next steps they ought to take on the road towards digital transformation.
EcoVadis and RapidRatings Partner on a Blended Supplier Financial Health and Third-Party Risk Assessment Tool
Last week, EcoVadis, a Paris and New York-based provider of supply chain sustainability and ethical sourcing rating services, and RapidRatings, a New York-based provider of financial health analytics, announced that they have partnered in an effort to blend their two key market offerings. The idea, however, is to provide customers of both vendors with a risk assessment solution that more holistically captures and measures under-served kinds of risks, like financial health, reputational, sustainability, and ethical sourcing concerns. After all, enterprise sourcing and procurement teams need to be concerned not just with traditional risks, like cost, compliance, and performance, but also how financially health a supplier is, whether their supply chain would be considered ethical or sustainable, what their reputation is, or what they’re doing to improve the environment or labor market. Details were scant on how EcoVadis and RapidRatings plan to go to market with such a product — like what kind of platform they’ll leverage, what the tool will look like and feature, and how and when it’ll be rolled out to the market. Ardent’s analyst team will stay on this story, so stay tuned.
Tradeshift Announces Strong 2Q 2018 Financial Performance Results
Also last week, Tradeshift, the California-based provider of cloud-based business networks, announced financial performance results for the second quarter of fiscal year 2018. The company had a pretty good second quarter by multiple measures — from new bookings to new customers to its biggest deal closed in company history. Financial performance results come on the heals of a big year for Tradeshift in which it secured an additional $250 million in funding, went to market with TradeShift Pay, and began its own foray into Blockchain, Specific highlights include:
Jaggaer Highlights an Eventful 1H 2018
In other news, JAGGAER, the North Carolina-based source-to-settle solutions provider formerly known as SciQuest, announced strong financial performance results for the first half of 2018. In a statement released by the company, officials described Jaggaer’s performance as the best first half-year performance in company history, citing strong “global revenue, new customer orders, and expansion of existing business.” Company officials highlighted several big wins and milestones for the first half of the year, like:
If the first half of the year is any indicator of what’s to come in the second half, we’re in for one heck of a ride.
Call for Speakers for the CPO Rising 2018 Summit
LevaData Gets a $12 Million Investment to Develop Cognitive Sourcing Platform
EcoVadis Announces Sustainability Leadership Awards, Next-Gen Sustainability Intelligence Platform
RapidRatings and SynerTrade Partner to Integrate Supplier Financial Risk Management to eProcurement
Payables Place First Thing: Tradeshift Introduces Supply Chain Finance Using Blockchain Technology
Jaggaer Announces Strong Financial Performance Results for 2017
Tagged in: Innovation, Matthew York, Performance, Process, Solution Providers, Source-to-Settle, Sourcing, Strategy, Suppliers, Supply Risk, Tech Round-Up, Technology, Transformation