Updated: November 06, 2019
Procurement software is a set of solutions that help to automate the purchasing work of companies.
2019. Workday to acquire online procurement platform Scout RFP for $540M
Workday has entered into an agreement to acquire online procurement platform Scout RFP for $540 million. The acquisition builds on top of Workday’s existing procurement solutions, Workday Procurement and Workday Inventory. The company is trying to be the end-to-end cloud back office player and one of their big gaps has been in procurement. A lot of the Workday investments are in portfolio companies that are complimentary to Workday’s larger vision of the future of Cloud ERP. Today’s definition of ERP includes finance, HCM (human capital management), projects, procurement, supply chain and asset management