Ardent’s P2P Technology Round-Up returns today with another assortment of ePayables, P2P, and B2B payment solution provider news and updates from the past week. If you are an Accounts Payable, B2B Payments, 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!
Kofax Agrees to Agrees to Acquire Document Imaging Division of Nuance Communications Inc.
Earlier this month, Kofax, a payments automation software provider headquartered in Irvine California, announced the acquisition of the Digital Imaging division of Nuance Communications Inc. Nuance is a multinational computer software technology corporation with headquarters in Burlington, Massachusetts. The sale enables Nuance to simplify the organization and focus the business on its conversational AI- and clouse-based solutions. For Kofax, the Document Imaging division, will help bolster the company’s intelligent automation technologies. The Document Imaging division provides software solutions that give uses users more efficient and intelligent technologies used to create, capture, and process documents. Kofax will look to add key technologies, including cloud compatibility, scan-to-archive, scan-to-workflow, print management and document security, to its end-to-end Intelligent Automation platform. The total consideration for the transaction is $400 million and expected to close by the end of Nuance’s second fiscal quarter.
Deskera Raises $60 Million and Launches New B2B eCommerce Portal
Earlier this week, Deskera, a cloud-based integrated Business Management software provider for SMEs, announced that it has raised $60 Million from a group of investors. The Singapore-based company provides SMEs (and some large business clients as well) with a platform to manage business operations. The funds will support the research and development of Deskera’s ERP, inventory management, and CRM tools. The investment was led by Jungle Ventures and includes contributions from Cisco Investments, Tembusu Partners, Susquehanna International Group and Innoven Capital. Deskera also announced the launch of its new B2B eCommerce portal, Desk. Desk is an integrated B2B commerce platform for SMEs that brings together vendors, logistics, payments and customs under one platform. Businesses will now have the ability to buy, sell, and make transactions in the online B2B marketplace.
Comdata and Computer Guidance Corporation Release Solution for Virtual Cards
Comdata, a Tennessee-based B2B payment and financial technology provider, and Computer Guidance Corporation have recently announced the release of eCMS Connect for Comdata Virtual Card, which will deliver an integrated solution between eCMS ERP and Comdata solutions. The Arizona-based Computer Guidance delivers cloud-based construction ERP solutions for the management of commercial contractors financial and project activities. The company’s solutions deliver business intelligence and analytics and content management. This collaboration allows Computer Guidance clients to streamline vendor payments by eliminating paper checks and automating the data entry, collection and reconciliation associated with vendor payments. Comdata is a large commercial issuer of MasterCard, and the largest fuel card issuer in North America. The integrated product is now available for commercial contractors to automate the vendor payment process by leveraging a virtual card through Comdata.
Bamboo Rose Introduces a Tariff Impact Tool for the Retail Industry
Earlier this month, Bamboo Rose, a Boston-area digital marketplace connecting retailers, suppliers, and third parties to quickly develop and deliver innovative products to consumer markets, announced that it has introduced a tariff impact tool for retail businesses. As the name implies, the tool is meant to help retailers understand in real time the impact that tariffs placed on certain goods and products by the Trump Administration will have on their operations. The tool is being offered as a plug in to its retailer-supplier innovation platform, and will provide users with instant cost analyses and the impact that a certain product, component, material, or supplier will have on its operations; and it will provide alternatives to help retailers minimize or avoid the impact.
Specifically, the Tariff Impact Tool will analyze a variety of variables at the country, supplier, order, program, and item level, “from design stage through manufacturing,” to produce a predicted cost impact assessment. It will help engineering teams consider alternative sourcing and materials for a given design, and suggest ways to swap out high-impact materials or components for lower-impact ones; or to suggest “insignificant product resigns” to decrease costs. It will also leverage Bamboo Rose’s existing what-if costing solution to enable buyers and suppliers to run hypothetical or comparative analyses, develop contingency plans, or simply better understand the uncertainty in the retail market vis-a-vis tariffs and a de facto trade war between the U.S. and one or more global trading partners.
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