Today, procurement spend analytics platform SpendHQ announces its partnership with procurement performance management platform provider Per Angusta, with SpendHQ receiving a $65 million investment from Pamlico Capital as part of the transaction.
Per Angusta CEO Pierre Laprée will join SpendHQ as a significant shareholder, board member and Chief Product Officer. He will join the SpendHQ leadership team led by CEO Scott Macfee.
“Per Angusta’s employees will join SpendHQ resulting in a combined organization with team members in 11 countries across three continents. The resulting Procurement powerhouse will serve over 400 customers globally including many of the largest companies and private equity firms in the world,” states the press release, and continues: “This union creates the most advanced platform in the market to drive procurement operations excellence, on a global scale. The combined organization is revolutionizing the procurement technology landscape by providing the first of its kind platform – a closed-loop procurement system. From spend analytics and opportunity identification to procurement performance management and project execution to validated and verified savings & value tracking …”
“This is an exciting leap for procurement technology,” said SpendHQ CEO Scott Macfee. “Both of our organizations have a rich procurement history and a disciplined, customer-centric approach to building solutions. Our joining forces is a direct result of both customer and market feedback. Together, we’ll enable our customers to bridge the gap from spend analytics and opportunity identification to the execution and realization of their strategic objectives, whether bottom-line savings or non-financial goals such as diversity and sustainability.”
Spend Matters analysts have composed an analysis of what this means for SpendHQ, Per Angusta and the market at large.
Said Spend Matters Analysts “As both firms enable coverage in their own respective segments, the acquisition of Per Angusta should, in theory, create a closed-loop procurement and spend management solution that covers the full scope of sourcing starting at opportunity identification all the way until performance and spend analysis and tracking.
To understand more see our “SpendHQ combines with Per Angusta to create a new kind of strategic procurement platform: transaction overview and market analysis” – part of our subscription Pro offering.
Supply chains unlikely to stabilize until first half of 2024 or beyond
A new survey of supply chain executives by Carl Marks Advisors, working in partnership with SupplyChainBrain, have underscored the deep and lasting impacts of Covid-related supply chain disruptions. According to the research, more than half of respondents don’t expect a return to a normal supply chain until the first half of 2024 or beyond. They also say there are a number a threats clouding the picture and complicating the return, the two largest being the war in Ukraine (30%) and labor concerns (24%).
“This research underscores just how profoundly the pandemic impacts corporate supply chains, but also how economic conditions, rising inflation and global tensions are preventing a return to normal,” Said Peter Keogh, the managing direction at Carl Marks Advisors.
More than two-thirds of supply chain executives say they are “very concerned” that the US economy could tilt into a recession over the next 12 months as a result of rising interest rates. When asked what could potentially bring supply chain costs back under control, ending the war in Ukraine (32%) and lowering fuel costs by 20% (31%) were the leading responses.
To read the full report, and see the executive summary of the findings, click here.
More News:
Procure4 joins the rapidly growing 4C Procurement Group
Supply chain disruption beat competitive threats by 2-1 – Ivalua study
Britvic’s chief procurement and technical officer matt Swindall recognized by the CIPS procurement power list 2022 (read our interview with him here)
State of Flux announces the launch of its 14th annual supplier management survey
