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!
Esker Announces 2017 Annual Results
Corcentric and AmeriQuest Announce Brand Identity Unification
SAP Concur Announces New “Budget” Tool
Coupa Software Issues Earnings Results
ePayments Provider Paymerang Receives $26 Million Investment
Esker Announces 2017 Annual Results
Esker, a cloud-based document process automation provider, recently announced its financial statements for 2017. It was a year of strong growth for the France-based provider, as its sales revenue reached €76.1 million (a 15.3% increase over 2016, with almost 85% of sales coming from the SaaS solutions). Esker put much of its focus on recruitment in 2017. The company’s workforce increased 12% compared to 2016. The number of employees dedicated to research and development increased by 18%, and now total 22% of the total workforce. Esker also showed strong profitability in 2017, with an operating income of €10.2 million, an increase of 5.3% compared to 2016. Ardent’s Research Director, Bob Cohen, recently met with the team at Esker to go over these results as well as receive an update on Esker’s P2P solution suite (you can read about that meeting by clicking here).
Corcentric and AmeriQuest Announce Brand Identity Unification
AmeriQuest Business Services, a procurement and financial process provider, recently announced that it would be unifying its organization and suite of solutions, under the Corcentric company name. Corcentric, a provider of Accounts Payable (AP) automation, was originally acquired by AmeriQuest back in 2002. The unification also brings together the resources from both AmeriQuest and Corcentric, and the company will be able to expand its access and value to its customers. It should also place the company in a better position for long-term growth, as they will be better able to reflect prospects’ centralized payment needs from both ends of the P2P process.
SAP Concur Announces New Budget Tool
SAP Concur, the expense and invoice management solution provider, recently released a new tool to make budget data visible and usable for users. The new tool is called Budget, and works by taking data from Concur’s connected platform (including its Expense, Invoice, Purchase Request, and Travel Request solutions), to present a consolidated and holistic view of employee spending across the organization. The Budget dashboard presents this data in a streamlined format, and embeds budget insights into the point of expense or invoice approval. The dashboard is designed to let managers see spending events occur in near real-time, and improve the accuracy and timeliness of spend. The tool is customizable for individual needs such as budget thresholds, auto-email alerts, and/or personalized subcategories.
Coupa Software Issues Earning Results
Coupa Software (NSADAQ: COUP), a San Francisco-based spend management solutions provider, recently posted its earnings results for the quarter. The firm had revenue of $53.80 billion for the quarter, which is up 41.5% compared to the same quarter last year. Coupa also had a negative return on equity of 20.33%, and a negative net margin of 23.45%. Lastly, Coupa reported $0.02 Earnings Per Share (EPS) for the quarter, which beat the consensus estimate by $0.17.
ePayments Provider Paymerang Receives $26 Million Investment
Electronic Payments provider, Paymerang has recently announced a $26 million equity investment from Aldrich Capital Partners, a mid-market growth equity firm. This investment will buy out company investors, and will help the VA-based Paymerang to grow its business in the P2P space. Paymerang says it plans to expand operations with new jobs, products, sales channels, and operational infrastructure. Founded in 2010, Paymerang helps businesses facilitate electronic supplier payments and currently has a network of over 60,000 suppliers in the US.
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