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The next steps for SCALUE, a game-changer in procurement analytics

A lot has happened since we last talked to Thomas Teichmann, one of the co-founders, along with Samir Kharkan, and managing director of SCALUE, in 2019. Since then, their tool became available at SAP® Store, the online marketplace for SAP and partner offerings. They also welcomed Dr. Ulrich Piepel, former top manager from RWE | innogy and current Senior Advisor from BCG & SAP Ariba, to their advisory board.

“Procurement analytics is the next step, replacing legacy spend cubes and bringing a new dimension to procurement organizations in terms of total spend transparency, process efficiency, automation, savings, and maverick buying,” saysDr. Ulrich Piepel, former CPO of RWE and innogy about the future of procurement analytics.

SCALUE’s procurement analytics plug-and-play app gives SMEs and corporates a chance to address their supply chain pain points without manually inserting data in an Excel sheet. Their automated, cloud-based technology will soon become a crucial competitive advantage to keep businesses up to date with digitalization.

As a result, the SaaS procurement tool keeps getting the attention of Chief Procurement Officers (CPOs), Chief Financial Officers (CFOs), and other industry leaders looking to improve their digitalization efforts to overcome challenges in the supply chain.

How does SCALUE help CPOs?

With APIs instead of spreadsheets, SMEs and corporates benefit from totally automated data processing (ETL). SCALUE’s benefits include:

  • 20% more cost-efficiency and 80% of time-saving, depending on the industry and supply chain;
  • An empowered team, thanks to their integrated e-learning platform to deliver educational content on procurement terminology and optimization;
  • Data to empower CPOs’ abilities to fast decision-making, preparing the foundations to remain agile should unexpected events happen;
  • And tools for CPOs to optimize and scalue their procurement processes — adding more and more value.

As the points above summarize, SCALUE’s automated and advanced procurement software helps build a transparent, digitally-forward foundation for strategic procurement processes.

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Archlet Sourcing Optimization App Now Available on SAP® Store

Today, Archlet announced that its Archlet Sourcing Optimization App is now available on SAP® Store, the online marketplace for SAP and partner offerings. The API connector integrates with SAP® Ariba®solutions and enables advanced sourcing analytics and scenario optimization capabilities for customers.

“By making Archlet’s sourcing analytics and optimization capabilities available to customers on SAP Store, businesses get access to best-in-class capabilities that further enhance the ROI of their investment into SAP Ariba solutions. Customers can now easily analyze and model sourcing scenarios that include sustainability, risk or supplier diversity scores, while maintaining a single source of truth within the SAP Ariba solution,” says Tim Grunow, Co-Founder and Managing Director at Archlet.

Using the Archlet Sourcing Optimization App to enhance SAP Ariba allows clients to …

  • increase the sourcing data quality with automated error and outlier detection,
  • reduce tender cycle times by eliminating manual Excel-based analysis,
  • highlight negotiation opportunities on a supplier level for improved savings delivery, and
  • make holistic sourcing decisions that reflect business constraints and requirements.

SAP Store, found at store.sap.com, delivers a simplified and connected digital customer experience for finding, trying, buying and renewing more than 1,800solutions from SAP and its partners. There, customers can find the SAP solutions and SAP-validated solutions they need to grow their business. And foreach purchase made through SAP Store, SAP will plant a tree.

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Airwallex Named to the 2021 CB Insights Fintech 250 List; Recognized as Top Fintech Startup for Fourth Successive Time

CB Insights today named Airwallex to the fourth annual Fintech 250, a prestigious list of emerging private companies working on groundbreaking financial technology. This year’s list was unveiled on stage at CB Insights’ Future of Fintech conference in New York City.

“This is the fourth class of the Fintech 250, and it’s also the most international, representing 26 countries. These 250 fintech startups are attacking an incredibly diverse array of financial services opportunities across 19 sectors, including digital banking, insurance, payroll, retail investing, and more,” said CB Insights CEO Anand Sanwal. “After being named to the CB Insights Fintech 250 last year, the 2020 class saw 17 companies go public and 25 get acquired. They also went on to raise over $25B in additional financing and forged more than 380 new partnerships after being recognized. The Fintech 250 has a history of spotlighting the very best fintech companies, and this year is no different. We’re excited to see how these fintech startups disrupt and transform financial services in the years ahead.”

Lucy Liu, Co-founder and President of Airwallex said, “As a leading global fintech business, we are delighted to have been recognized by CB insights in all four of their Fintech 250 lists, which is a testament to Airwallex’s tremendous growth since our inception in 2015. This is just the beginning, and as we continue to expand globally, we remain committed to our mission of empowering businesses of all sizes to grow without borders.”

Through an evidence-based approach, the CB Insights Intelligence Unit selected the Fintech 250 from a pool of over 17,000 companies, including applicants and nominees.They were chosen based on several factors, including data submitted by the companies, company business models and momentum in the market, and Mosaic scores, CB Insights’ proprietary algorithm that measures the overall health and growth potential of private companies.

Founded in 2015, Airwallex is one of the fastest-growing global fintech platforms today and has seen significant business growth in the last year, recording a year-over-year revenue growth of nearly 150% for the first half of 2021, and processing more than annualised US$20 billion for a global client portfolio that has quadrupled in size, serving innovative global businesses such as GOAT, Papaya Global and Stake. The company has nearly doubled its headcount in 2021 and employs almost 1,000 employees today in over 20 locations globally. In September 2021, the company announced its US$200 million Series E fundraising round, valuing the company at US$4 billion. This year, Airwallex launched a series of new products and reached major milestones with its global expansion plans, opening for business in the U.S. in August, as well as securing an EMI license in the Netherlands and a Money Services Business license in Malaysia.

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Switzerland-based Archlet raises €8.6M to help companies to make better sourcing decisions; here’s how

Zurich-based Archlet, a B2B SaaS application platform that empowers company buyers to make informed decisions in strategic sourcing, announced that it has secured $10M (approx €8.62M) in its Series A round of funding.

The fundraise comes early for Archlet, as it raised its $2.8M Seed round in January 2021. The additional capital will allow Archlet to further boost product development and to expand into new markets.

The round was led by HV Capital. Existing investors Wingman Ventures, Senovo, and La Famiglia also participated in this round. Business Angel Matthias Hilpert completed the round and said he will continue to support Archlet on its journey.

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HV Capital invests $10M in Archlet’s Series A

Archlet has successfully closed a $10M Series A funding round that will fuel and accelerate our growth journey even further. This round would not have been possible without the incredible team at HV Capital and the support and sparring from our existing investors. Additionally, we look forward to welcoming our new business angel, Matthias Hilpert, who will assist with strategic advice and action planning.

While the pace at Archlet is higher than ever before, we have taken a moment to reflect on our crazy journey. Since we founded Archlet two years ago, we have been on an incredibly satisfying and humbling adventure with many ups and downs, and, as a team, we have learned something valuable from every one of them. In 2021, our customer base has grown like never before, our dreams, goals, and visions have followed. It is this entrepreneurial spirit that makes the A-Team so exceptional, and we are very proud to be part of this crew.

Every day, the team works hard to get us closer to our vision of seamlessly connecting buyers and suppliers in the global supply chains. And every day, our user experience becomes better and even more intuitive. We are already well on the way, but with our additional funding, we are another step closer to offering a powerful end-to-end sourcing experience that can be used by any buyer in any organization.

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Airwallex raises $200M at a $4B valuation to double down on business banking

Business, now more than ever before, is going digital, and today a startup that’s building a vertically integrated solution to meet business banking needs is announcing a big round of funding to tap into the opportunity. Airwallex — which provides business banking services directly to businesses themselves as well as via a set of APIs that power other companies’ fintech products — has raised $200 million, a Series E round of funding that values the Australian startup at $4 billion.

Lone Pine Capital is leading the round, with new backers G Squared and Vetamer Capital Management, and previous backers 1835i Ventures (formerly ANZi), DST Global, Salesforce Ventures and Sequoia Capital China also participating.

The funding brings the total raised by Airwallex — which has head offices in Hong Kong and Melbourne, Australia — to $700 million, including a $100 million injection that closed out its Series D just six months ago.

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Airwallex Raises Funds at $4 Billion Valuation for Expansion

Airwallex Cayman Ltd. raised $200 million to accelerate its expansion in global payments as it taps investors keen on fast-growing fintechs. The Australian company attracted funding from investors led by Lone Pine Capital, boosting its valuation to $4 billion after the series E round, the company said in a statement on Monday. Other new investors include G Squared and Vetamer Capital Management.

“We want to accelerate our growth in the U.K., Europe and U.S.,” Jack Zhang, chief executive officer of Airwallex, said in a phone interview. He added that the company wants to “become a dominant leader in global payments.”

Airwallex’s fundraising comes just months after a round in March that gave the firm a valuation of $2.6 billion, underscoring the rapid growth in online payments. Last month Square Inc., the digital-payments platform led by Twitter Inc. founder Jack Dorsey, agreed to buy Australian buy-now, pay-later company Afterpay Ltd. for $29 billion.

Airwallex helps businesses set up bank accounts, process multicurrency payments and manage expenses. While the company has numerous Chinese clients including Tencent Holdings Ltd.’s WeChat, retailer JD.com Inc. and online learning platform 51Talk, its focus on cross-border payments has kept it clear of a regulatory crackdown on other parts of the country’s financial system.

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How Staple is Helping to Power the First Mile of Data Processing

We talked to Ben Stein, CEO at Staple about converting documents into structured data and here is what he said about it.

First of all, how are you and your family doing in these COVID-19 times? 

Ben Stein: We are all doing well, thank you! Like most of the world, all team members have been involuntarily separated from friends and family. Our team is decentralized across Singapore, Vietnam, India and Sri Lanka. Our relationships have shifted online, and that is something we have grown accustomed to. Thankfully our team, our families and our friends are all doing well.

Tell us about you, your career, how you founded Staple.

Ben Stein: I previously worked with KPMG in Australia, Europe and North America for almost a decade, then in various corporate positions in London and Singapore. After working with clients in banking, energy, manufacturing and real estate, I noticed persistent inefficiencies in both enterprises and SMEs around data management. I left my CFO position at the time to explore how deep technology (“deep tech”) might present potential solutions to these inefficiencies. I joined EF (joinef.com), where I met my co-founder, Josh, a Ph.D. computer scientist. Together we met with more than 150 companies to understand their most pressing pain points, and we built Staple to address them. 

Staple’s solution can read, interpret, extract and reconcile data from semi-structured and unstructured documents, regardless of layout or language. Currently, we support more than 90 languages, and we are helping customers process data-heavy workflows in Thai, Vietnamese, Japanese and Indonesian. 

How does Staple innovate? 

Ben Stein: There is a lot of hype around big data, RPA, AI and analytics and their potential to rapidly accelerate the digitalization of business. What many don’t appreciate is that these technologies can’t function without a core ingredient: clean, structured data. RPA and bots are fantastic innovations, but they can only work with structured data. There is so much reliance on data, yet enterprises struggle to access, unlock and use it at scale because the data is not available in a standardized, accessible format. Without structured data, RPA bots cannot function, analytics tell an incomplete story, and information for decision making is either not timely, inaccurate, or not useful. 

Many businesses are unable to reap the benefits of automation technologies as they cannot cross the divide between structured system needs and the unstructured or semi-structured realities of business. It’s the classic adage of “garbage in, garbage out”: unless meaningful, accurate, standardized data is ingested from the outset, RPA and automation implementations will fail. It’s important that digitalization agendas have proper regard for the “first mile of data processing.” 

We dedicate a lot of effort to building software that employees actually enjoy using, as opposed to software that employees are forced to use. We don’t think there should be a distinction between software for SMEs or software for the enterprise; it should all just be software to be more productive. We also have a sharp focus on developing solutions that anybody – from the most junior employee to a highly technical CTO – can use. We’re working on tools that allow non-technical users to develop new AI models without touching a line of code. This introduces a level of flexibility that was previously out of reach for many users.

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SAP Startup Spotlight: Staple

Ben Stein is CEO and cofounder of Staple, a Singapore-headquartered AI company specializing in data capture, processing, and reconciliation in more than 90 languages. He is a chartered accountant with past experience at KPMG, Octopus Investments, and Entrepreneur First. Ben Stein has degrees in law and commerce and is a full stack developer. In this interview, he explains what his company has to offer and what’s next for Staple.

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SAP Startup Spotlight: RoadGoat

Kurosh Hashemi is the founder and CEO of RoadGoat. Prior to starting RoadGoat, Kurosh founded and led the Ultraviolet LED Lighting business at Philips Lighting, which was acquired by Apollo Management. Kurosh also has extensive expertise across the Internet of Things and location data. He earned his MBA at UC Berkeley, where he was a Haas Merit Scholar. In this interview, he will talk about why he founded RoadGoat, what his solution has to offer, and what’s next for the company.

E-3 Magazine: What exactly does RoadGoat offer?

Kurosh HashemiRoadGoat is a pocket travel guide. We provide user-generated data for over 4 million travel destinations – neighborhoods, towns, and cities. Travelers can use RoadGoat to figure out how safe a place is, whether an area is low-risk for COVID-19, if it is tagged for business travelers or foodies, and much more. We even provide a travel map for users that they can automatically update with all their social media accounts, business trip data, fitness trackers, Google Maps, and more. We initially started as a consumer app but we’ve now teamed up with Concur to deliver the same great experience for business travelers.

How does your solution work?

Hashemi: At the heart of our technology is a database of over 4 million travel destinations. Our users contribute meaningful insights about each of these destinations and we supplement this guidance with some more data-driven insights such as information about COVID-19, safety, when to go, budgetary ratings, and more. All that customers need to join RoadGoat is a WIFI-enabled device, as it is a completely free platform.

Why did you start RoadGoat to begin with?

Hashemi: We started RoadGoat because we felt that there was a lack of information about travel destinations. While sites like TripAdvisor, Google, and Yelp give great context about local businesses, no one is providing context about neighborhoods or towns – that’s where we come in. We help you understand if a destination is good for business travelers, nightlife, foodies, and more. Is it safe? What’s the COVID-19 situation? Is it LGBTQ+-friendly? Our users rate, rank, and tag destinations to help guide each other.

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Jet-Set Offset Swaps Your Frequent Flyer Guilt for Sustainable Air Travel

The air travel industry is waking up to a post-pandemic world filled with people who have a heightened awareness of climate change and sustainability. The entrepreneurs behind Jet-Set Offset are turning these concerns into action for both consumers and businesses.

Using the startup’s carbon-based offsetting tool, companies can donate one cent for every air mile flown by employees to environmental non-profit organizations.

“Individuals and companies are much more mindful that travel and commuting are a big part of their carbon footprint and need to be incorporated into their sustainability planning and actions,” said Anna Ford, co-founder and chief executive officer (CEO) of Jet-Set Offset. “Remote working has brought people together in more authentic ways, increasing demands to align personal values such as sustainability with working norms, including travel.”

Realistic Strategy for Sustainable Travel

Functioning like a fundraising tool for non-profit and charitable organizations that focus on sustainability, Jet-Set Offset’s mileage-based donations are tax-deductible and backed by a realistic business-oriented strategy. During its first year in business, thousands of Jet-Set Offset consumers made donations to a range of non-profits. These organizations offer products, education, and advocacy in areas such as clean transportation, renewable energy, land and wildlife conservation, reforestation, and green buildings. The startup’s next target market is enterprises.

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SAP.iO Foundry Paris recherche des startups du domaine du « procurement » pour sa nouvelle promo

SAP.iO Foundry Paris lance un nouvel appel à candidatures pour trouver les startups qui formeront la 5ème promotion de l’accélérateur parisien. Pendant la crise du COVID-19, beaucoup d’entreprises ont connu des perturbations de leur chaine d’approvisionnement. Pour offrir de nouvelles solutions innovantes aux entreprises, SAP.iO Foundry Paris va recruter cette fois une sélection de jeunes pousses spécialisées dans le domaine de l’approvisionnement. Les startups françaises mais aussi européennes peuvent candidater dès aujourd’hui jusqu’au 19 juillet 2020 pour bénéficier, pendant 10 semaines, du programme d’accélération d’exception de SAP.

Enrichir les offres SAP S/4HANA et SAP Ariba

Cette nouvelle promotion regroupera 6 à 8 startups innovantes orientées « procurement » pouvant apporter beaucoup de valeur aux clients SAP et complémentaires aux offres leaders du marché SAP S/4HANA et SAP Ariba. Les jeunes pousses seront notamment retenues pour leurs approches novatrices de gestion des approvisionnements qui visent à simplifier l’expérience utilisateur, l’automatisation des process et une gestion des données améliorées.

Les startups sélectionnées devront répondre à plusieurs enjeux : comprendre l’univers SAP pour pouvoir construire une relation business de confiance, créer une intégration technique entre leur solution et celles de SAP et rencontrer les clients de SAP tout au long du programme. A l’issue du programme, les solutions des startups rejoindront l’App Center de SAP et notamment l’Ariba Network le plus grand réseau commercial B2B au monde avec 4,6 millions d’entreprises sont connectées dans 190 pays.

Un programme d’accélération mature qui se développe à l’échelle européenne pour dénicher les meilleures startups

Après deux années de succès, SAP.iO Foundry Paris se développe et ouvre ses portes à des startups européennes. L’objectif reste le même : dénicher les meilleures startups pour répondre au mieux aux besoins et aux attentes de SAP. Ce nouveau programme sera également virtualisé afin de permettre à toutes les startups, quel que soit le fuseau horaire, de suivre la formation.

Les startups sélectionnées feront partie d’un programme de 10 semaines et travailleront aux côtés de cadres et de mentors internationaux (cadres SAP et mentors externes) pour se concentrer sur leurs défis uniques.

« La gestion des approvisionnements des entreprises a été bousculée ces derniers mois avec la crise du COVID-19. Cette prochaine promotion vise à apporter toujours plus de valeur aux entreprises et des solutions complémentaires à nos clients SAP S/4HANA et SAP Ariba. Parce que nous souhaitons nous entourer des meilleures startups du moment, nous allons élargir la portée du programme et intégrer les meilleures pépites sur le sujet. Le programme est donc ouvert aux startups européennes avec nous l’espérons une forte représentation française ! », explique Sébastien Gibier, Directeur de SAP.iO Foundry Paris.

A propos de SAP

SAP est le leader du marché des applications d’entreprise : 77% des transactions financières mondiales passent par un système SAP. L’entreprise accompagne les organisations de toute taille et de tout secteur à mieux opérer. Nos technologies de machine learning, d’Internet des objets (IoT), d’analytique avancée et de gestion de l’expérience aident nos clients à transformer leur activité en « entreprise intelligente ». SAP dote les professionnels d’une vision approfondie sur leur activité et favorise la collaboration pour garder une longueur d’avance sur leurs concurrents. Pour les entreprises, nous simplifions la technologie afin qu’elles puissent utiliser nos logiciels comme elles le souhaitent, sans interruption. Notre suite d’applications de bout en bout et nos services permettent à plus de 440 000 clients d’opérer de manière rentable, de s’adapter en permanence et de faire la différence. Avec son réseau mondial de clients, partenaires, employés et leaders d’opinion, SAP aide le monde à mieux fonctionner et à améliorer la vie de chacun. Pour plus d’information, visitez le site www.sap.com

SAP.iO Foundry San Francisco Launches Accelerator Program Focused on Travel and Expense Management

SAP) kicked off the SAP.iO Foundry San Francisco business-to-business (B2B) travel technology accelerator, with eight early-stage enterprise startups.

This program is geared to improving the travel and expense management experience for SAP’s customers, and includes the SAP Concur portfolio. Startups in the program will have access to curated mentorship, exposure to SAP technology and application programmable interfaces (APIs), and opportunities to collaborate with SAP customers.

“Collaboration with SAP.iO will help foster an open innovation ecosystem and will help us deliver new emerging technologies that bring value to our customers,” SAP Concur President Jim Lucier said. ” We look forward to working with the rising stars in the travel technology industry and helping them scale.”

The following startups are participating in the SAP.iO Foundry San Francisco Spring 2020 program:

  • Bacarai is launching the world’s first group airfare marketplace — providing travelers the ability to shop, purchase and manage group trips online.
  • Hotailors is a software-as-a-service (SaaS) platform that provides enterprises with full visibility over contingent worker travel, ensuring that bookings meet travel policies, expense limits and safety standards.
  • Jet-Set Offset provides technology that enables companies to offset their carbon footprint generated from flying with an automatic one-cent-per-mile donation to an environmental nonprofit organization chosen by the individual or company.
  • Jojonomic is the first mobile expense management system in Southeast Asia connected to the region’s financial and tech ecosystem, serving tens of thousands of users across hundreds of enterprises.
  • Lumo is a platform that uses machine learning to predict flight delays. Lumo’s APIs and SaaS products are used by travelers, travel management companies, airlines, travel insurance and travel technology companies to help proactively manage disruptions hours to weeks in advance.
  • RoadGoat is a location-technology platform that enables businesses to integrate critical data consisting of about 4.3 million travel destinations, driving rich user experiences that translate to higher engagement and increased bookings.
  • Tripgrid is a flexible project-based workspace that helps businesses automate and streamline travel workflows, such as travel documents and reports, data normalization and cost reconciliation.
  • 30SecondsToFly produces software employing artificial intelligence for the travel management industry to help automate call centers, providing greater service at lower operational costs.

The accelerator program will conclude with an SAP.iO Demo Day presentation at the beginning of June.