Coupa scoops up Simeno to bolster online catalogue capabilities
Spend management firm Coupa Software has acquired Simeno Holding AG, a leader in cross-catalogue search and advanced catalogue management.
Simeno creates localised content from third-party supplier sites to power cross-catalogue searches, including content from many of the leading B2B marketplaces.
Coupa plans to grow its Open Buy Programme with the addition of the marketplaces to deliver a best-in-class cross-catalogue search capability that is competitively distinguished. The acquisition also increases Coupa’s local presence in key German and Swiss markets.
“One of the emerging trends within procurement technology is the ability to bring more spend under management by integrating ‘out-of-catalogue’ purchases, while maintaining control of an organization’s approval workflows and business rules,” said Xavier Olivera, lead procure-to-pay analyst at Spend Matters.
“Coupa is leading the charge in this area, first integrating Amazon Business in a unique way compared to competitors, and now integrating Simeno's cross-marketplace search capabilities into its platform.
“Customers will benefit through improved search experiences and a marketplace-driven approach to shopping that maintains procurement controls.”
Based in Basel, Switzerland with offices in Germany and the United States, Simeno is used by some of the world’s largest organisations running SAP SRM, SAP PM, SAP MM, Oracle iProcure, and more.
The solution provides a powerful shopping “front-end” capability for these systems to augment catalogue search and management.
“Our cloud platform has transformed how organisations spend money, as evidenced by the significant and measurable results achieved by our customers,” said Rob Bernshteyn, CEO of Coupa.
"With our acquisition of Simeno, we continue to execute on our vision of delivering the most Open and User-Centric cloud platform for business spending in the market”
Simeno’s streamlined search experience enables employees to simultaneously search company managed catalogues and supplier managed catalogues.
EU and US agree end to Airbus-Boeing supply chain tariffs
The EU and US have agreed to resolve a 17-year dispute over aircraft subsidies, suspending tariffs on billions of dollars' worth of goods that have plagued procurement leaders on both sides of the Atlantic.
Under an agreement reached by European Commission Executive Vice-President Valdis Dombrovskis and US Trade Representative Katherine Tai on Tuesday, the tariffs will be halted for a period of at least five years.
It will bring an end to punitive and disruptive levies on supply chains that have little to do with the argument, which became embroiled in the trade battle. Businesses on both sides of the dispute have been hit with more than $3.3bn in duties since they were first imposed by the US in October 2019, according the EC.
The US imposed charges on goods upto $7.5bn in response to a World Trade Organisation ruling that judged the EU’s support of Airbus, its biggest aircraft manufacturer, unlawful. A year later in November 2020, the EU hit back. The WTO found the US had violated trade rules in its favourable treatment of Boeing, and was hit with EU duties worth $4bn.
In all the tariffs affected $11.5bn worth of goods, including French cheese, Scotch whisky, aircraft and machinery in Europe, and sugarcane products, handbags and tobacco in America. Procurement leaders on both sides of the fence were forced to wrestle with tariffs of 15% on aircraft and components, and 25% on non-aircraft related products.
Boeing-Airbus dispute by the numbers
- The dispute began in 2004
- Tariffs suspended for 5 years
- $11.5bn worth of goods affected by tariffs
- $3.3bn in duties paid by businesses to date
- 15% levy on aircraft and 25% on non-aircraft goods suspended
Both sides welcome end to tariffs
European Commission President Ursula von der Leyen branded the truce a “major step” in ending what is the longest running dispute in WTO history. It began in 2004.
“I am happy to see that after intensive work between the European Commission and the US administration, our transatlantic partnership is on its way to reaching cruising speed. This shows the new spirit of cooperation between the EU and the US and that we can solve the other issues to our mutual benefit,” she added.
Both aircraft manufacturers have welcomed the news. Airbus said in a statement that it will hopefully bring to an end the “lose-lose tariffs” that are affecting industries already facing “many challenges”. Boeing added that it will “fully support the U.S. Government’s efforts to ensure that the principles in this understanding are respected”.
The US aerospace firm added: "The understanding reached today commits the EU to addressing launch aid, and leaves in place the necessary rules to ensure that the EU and United States live up to that commitment, without requiring further WTO action."
This week’s decision expands upon a short-term tariff truce announced in March this year. The EC says it will work closely with the US to try and further resolve the dispute, establishing a Working Group on Large Civil Aircraft led by each side’s trade minister.
Airbus last month signalled to suppliers that post-pandemic recovery was on the horizon, telling them to scale up to meet a return to pre-COVID manufacturing levels. “The aviation sector is beginning to recover from the COVID-19 crisis,” said Airbus chief executive Guillaume Faury, adding that suppliers should prepare for a period of intensive production “when market conditions call for it.”