Many suppliers won’t commit to longer than three months. Rising costs are one of the biggest challenges facing procurement today. See How They Saved Millions Lesson 1: Tackle inflation
With a revenue of over $30 billion, and 77,400 employees at 3,000 sites in 28 countries, there’s huge potential for gain when processes align and organizations are working together.ĬRH saved millions of euros with smarter sourcing. As employees will tell you, they’re probably the largest company you’ve never heard of. Keep reading for eight lessons we can learn from CRH.ĬRH manufactures and supplies building materials. CRH, the world leader in building materials and headquartered in Dublin, shared insight into building an agile procurement function to support wider business priorities. In the webinar Improving business continuity with agile procurement, hosted by procurement leaders, we heard some encouraging examples of how to achieve these goals. Since the pandemic and the war in Ukraine, businesses have new priorities such as securing supplies in challenging markets, diversifying supply chains, or gaining long-term commitments from suppliers. The company was founded in 2006 and has 3,076 employees.Ĭoupa, which oversees about $2 trillion in global spending, will become a privately held company upon completion of the transaction and the company’s common stock will no longer be listed on any public market.Procurement is no longer simply about negotiating for the lowest cost.
San Mateo, California-based Coupa (NASDAQ: COUP) is a cloud-based business spend management platform that unifies processes across supply chain, procurement and finance functions. Coupa officials also expect revenue growth in fiscal year 2024 to be below current Wall Street estimates. New business clients across Europe, the Middle East and Africa are down 17% year to date for Coupa, while new North American midmarket business has been flat. The board is unanimous in its belief this transaction is the optimal path forward and in the best interest of our shareholders.” “The board evaluated the transaction against the company’s standalone prospects in the current macroeconomic climate and determined that the compelling and certain cash consideration in the transaction provides superior risk-adjusted value relative to the company’s standalone prospects. “This transaction is the result of a deliberate and thoughtful process that included engagement with both strategic and financial parties,” Roger Siboni, Coupa’s lead independent director, said in a news release. Officials for the business spend management platform said the deal made sense financially. Coupa Software has been acquired by private equity firm Thoma Bravo in an $8 billion, or $81-per-share all-cash acquisition, the company announced Monday.
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