The Supply Chain Matters blog features our July 29, 2019 Edition of This Week in Supply Chain Management Tech, a brief synopsis of noteworthy supply chain management focused technology news which we believe would be of specific interest to our global-based blog readership.
Included in this edition are highlights related to noteworthy announcements and/or developments related to:
Kinaxis and Infosys
Kinaxis Forms Alliance with Infosys
Supply chain planning and response management technology provider Kinaxis announced that is has formed an alliance with Infosys to help global based customers to modernize their supply chain planning and decision-making processes.
This alliance brings together the Kinaxis supply chain planning platform with machine learning capabilities, advanced analytics and unique concurrent planning techniques with Infosys’ extensive experience in supply chain and digital transformation consulting. Together, both companies will focus on helping customers to remove functional silos, drive confident decisions, improve profitability and productivity, synchronize planning processes and increase agility, all while reducing risk.
Headquartered in Bengaluru, India, Infosys provides next-generation digital services and consulting. With clients in 45 countries and three decades of experience in managing the systems and workings of global enterprises, Infosys guides clients through their digital journey. Kinaxis and Infosys serve clients in a variety of complementary industries, including aerospace and defense, automotive, consumer products, high-tech and electronics, industrial and life sciences.
The announcement adds to Kinaxis’s growing global strategy and alliance partner ecosystem that also includes brands such as Accenture, Capgemini, Cognizant, Deloitte, Tata Consulting Services, among others.
In addition to Kinaxis, Infosys recently announced a global partnership with enterprise, ERP and Cloud technology prover SAP SE.
Note: Kinaxis is one of a number of exiting sponsors of the Supply Chain Matters blog.
Icertis Announces Latest Series E Funding Round
Privately held Contract Lifecycle Management (CLM) technology provider Icertis has announced the closing of a $115 million Series E investment round. With this funding, the company becomes the first CLM provider in the world to be valued at more than a billion dollars. The company has reportedly achieved a 125 percent compound annual growth rate (CAGR) over the past four years. Cited customers include ABB, Airbus, 3M, BASF, Bertelsmann, Cognizant, Daimler, Humana, Johnson & Johnson, Microsoft, Qantas, among other names.
This latest funding round was co-led by Greycroft and Premji Invest with participation from existing institutional investors including B Capital Group, Cross Creek, Eight Roads, Ignition Partners, Meritech Capital Partners and PSP Growth. Greycroft has been an investor since the Series A round in 2015.
According to the announcement, for the first time in history, contracts are being digitized, allowing enterprises to reimagine contract management and place it at the center of their commercial processes. The Icertis platform, powered by artificial intelligence, unlocks the commercial value embedded in a company’s contracts. By transforming these static documents into strategic digital assets, enterprises can protect against risk, improve compliance, accelerate business velocity, and optimize commercial relationships over the entire life of the contract.
The new funds will reportedly be utilized to increase product platform investment, extend the Icertis Blockchain Framework, and accelerate the infusion of artificial intelligence and advanced cognitive services into the ICM platform to solve previously intractable enterprise contract management challenges. Additional focus will be on scaling sales and marketing efforts globally, growing the partner ecosystem and finance opportunistic acquisitions.
Added Note to Readers– Supply Chain Matters will feature our This Week in Supply Chain Tech highlight series as announcements warrant.
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