May 17, 2020

Workday to acquire Scout RFP to transform procurement

Procurement
Technology
Georgia Wilson
2 min
One man and two women looking at a digital tablet in a warehouse
Leading cloud applications provider for finance and HR - Workday - has signed a definitive agreement to acquire Scout RFP.

In order to maximise opportu...

Leading cloud applications provider for finance and HR - Workday - has signed a definitive agreement to acquire Scout RFP.

In order to maximise opportunities, support growth, increase policy compliance and drive critical cost savings, Workday alongside Scout RFP - following its acquisition - aims to transform procurement organisations by providing a comprehensive source-to-pay solution with strategic sourcing. 

 

Who is Scout RFP?

Founded in 2014, Scout RFP is a sourcing and supplier engagement platform that helps procurement teams streamline processes, manage a unified pipeline of projects, and collaborate with stakeholders and suppliers. “Scout RFP is an industry leader that is loved by procurement teams who are undergoing a significant shift to better optimise spend,” said Aneel Bhusri, co-founder and CEO, Workday. 

Global brands using Scout RFP: 240 

Project spend managed: US$38.5bn + 

Headquarters: San Francisco

CEO: Alex Yakubovich 

 

SEE ALSO:

 

Who is Workday?

Founded in 2005, Workday is a leading provider of enterprise cloud applications for finance and human resources to the world's largest companies, educational institutes and government agencies. The company delivers financial management, human capital management, planning and analytical applications. 

Headquarters: Pleasanton, California, United States

CEO: Aneel Bhusri

 

Under the agreement terms, Workday will acquire the business for US$540mn in cash and is expected to close the deal during the fourth quarter of Workday’s fiscal year 2020, however this is still subject to change. 

Commenting on the acquisition Bhusri said: “Together, we will deliver a modern source-to-pay solution that accelerates our momentum in the spend management market and expands how customers can plan, execute, analyse, and extend in one system.” Alex Yakubovich, CEO, Scout RFP further added to Bhusri comment, “As a Workday Ventures portfolio company and Workday Software Partner, we’ve been incredibly impressed with Workday's team, culture, customer focus, and products. In addition to our common passion for innovative technologies, our two companies also share a commitment to employee and customer satisfaction, which will enable us to advance our vision to transform strategic sourcing.”

Did you know? Workday is announcing its fiscal 2020 third quarter financial results on Tuesday 3 December 2019.

For more information on all topics for Procurement, Supply Chain & Logistics - please take a look at the latest edition of Supply Chain Digital magazine.

Follow us on LinkedIn and Twitter.

Share article

Jun 16, 2021

EU and US agree end to Airbus-Boeing supply chain tariffs

supplychain
Boeing
Airbus
tariffs
3 min
Supply chains embroiled in Airbus-Boeing dispute will no longer be impacted by $11.5bn tariffs imposed on food and beverage, aircraft and tobacco

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.”

Share article