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Analytics specialist Suplari is acquired by Microsoft
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Afternoon Coffee: Life expectancy in US drops; Schneider Electric-Rio Tinto team up on sustainability; UK man held in big Twitter hack last year
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Sustainability has become the burning issue that businesses need to address in the wake of the 2020 Covid disruption, and technology and services providers are responding rapidly to fill gaps in current operating models.
The shift in attention is not just hot air. Multiple firms are putting serious money behind the effort. As just one example, the accounting firm PwC announced in June that it would spend $12 billion over five years to create 100,000 new jobs aimed at helping its clients grapple with climate and diversity reporting, as well as in artificial intelligence, according to a Reuters report.
Part of that staggering 35% increase in planned headcount PwC currently employs 284,000 professionals globally is a perceived need to help businesses understand and comply with the exact requirements of “sustainability,” a broad term that can encompass many topics and subareas.
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It would be a reasonable assumption to make that P2P suites (or S2P in the case of Onventis) are normally solutions that only work well for mature organizations. But that is not necessarily the case for middle-market organizations. The reality is that there are solutions like Onventis’ that are 100% focused on the middle market and have great success.
Onventis’ suite can compete in the upstream source-to-contract area (see our coverage here: Part 1, Part 2) and in the downstream P2P areas of e-procurement and invoice-to-pay/AP automation.
Analysts Corner: Procurement teams need to pay attention to inflation
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