It also has a matching feature called m圜onnXion, which is an open-ended supplier network. Doing the right thing is what we’re working to support via BSM-powered sustainability, and we’re seeing that trend in the market.”ĬonnXus - based in Mason, Ohio, near Cincinnati - has a database of millions of global suppliers to help buying organizations quickly identify potential suppliers that fit not only basic sourcing requirements but also various additional criteria, including diversity status and risk. “Coupa wants supplier diversity to evolve to a business-driven decision. And firms want to comply with federal acquisition mandates,” Wilczek said. “Top companies are concerned with supplier diversity and CSR. “The culture of both firms is a fit, and ConnXus is so in the spirit of Coupa,” she said.Ĭoupa said one of its main focuses for the acquisition was to move supplier diversity out of the siloed position that it finds itself in at many companies. “We are one company today,” Wilczek said. Coupa said it has begun a plan to unify ConnXus into its solution for business spend management (BSM). Robinson will stay on and report through Coupa’s management structure as ConnXus’ solutions are integrated.Ĭoupa plans to support all ConnXus customers and expects that they will eventually migrate to using other components of the Coupa platform, as seen in previous acquisitions, said Donna Wilczek, Coupa Senior Vice President of Product Strategy and Innovation. “Supplier diversity was set aside in other deals, but the combination of Coupa and ConnXus makes me confident as we go forward.” “When I thought about selling ConnXus, that concern was a concern for me, but I was impressed at how mission-specific Coupa was on the issue,” Robinson said. He was aware that other acquisitions of supplier diversity solutions didn’t play out as envisioned in those deals. Rod Robinson, the Founder and CEO of ConnXus, said it was important to him that Coupa could highlight the benefits of supplier diversity and carry on with ConnXus’ mission.
Terms of the deal were not disclosed, but Coupa said talks had been going on since 2019 and that the coronavirus disruption played no role in the negotiations.
In its second acquisition this year, Coupa has acquired the supplier diversity specialist ConnXus, according a Spend Matters interview Monday with Coupa, a suite provider of business spend management solutions.
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