New York, November 30, 3017. Change is HARD. In the current market, corporate acquisitions are becoming quite common and especially with Procurement technology. Unfortunately, the biggest obstacle and most challenging aspect to an acquisition – What happens to the customers? Yesterday, Jaggaer, formerly SciQuest, announces the acquisition of BravoSolution, only months after purchasing POOL4TOOL.
Prior to the BravoSolution announcement yesterday, Jaggaer already struggled with integrations with aquistions of CombineNet, Spend Radar, Upside Software and others is now looking at a bumpy road ahead as the North American based company acquires a European based company with over 90% of their employee base across the pond. According to Spend Matters initial report, “These are two big suites, and each suite was formed from acquisitions that are not 100% integrated yet (individually) to a common code base and data model.”
SynerTrade, a leading global cloud based Source2Pay provider, announces a “safe passage” for all BravoSolution, Jaggaer, and legacy POOL4TOOL customers.
The North American SynerTrade team understands how difficult, long, and rarely successful an acquisition can be for a customer of a company being acquired. “I have personally been a part of almost a dozen of acquisitions in my 20+ years in the space. I have been acquired by Ariba while at Freemarkets, and recently POOL4TOOL at Jaggaer; and that is why today I am with SynerTrade who has zero intentions to sell to anyone or acquire any competitor. I love the fact that we are 100% organically grown” says Roger Blumberg, VP of Strategy North America. “Customers should have concerns that immediately impact them about the complexity of the acquisition, what the integration process will be, and how it will negatively affect their procurement departments. As we all know, everything changes among an acquisition, from the solutions that you currently use to the account executive you built the relationship with. In order for an acquisition to make sense there inevitably has to be a product line eliminated when there is redundancy. I have never been part of an acquisition in my 20+ years in which there was not an eventual discontinuation of a redundant product line. More savvy Procurement leaders are writing change of control clauses in their contract for this very reason.”
As part of the “Safe Passage” program, current BravoSolution/Jaggaer/POOL4TOOL customers will receive, guaranteed through March 2018:
- One year free subscription on a 4-year agreement
- To finally move to a fully integrated, modern GUI user friendly Source2Pay solution
- Professional Migration assistance free of charge (we will help you move your data)
SynerTrade is a single source, home grown tool, that was never acquired by a competitor or a private equity firm.
“Congratulations to BravoSolution on its recent acquisition by Jaggaer,” said Eberhard Aust, CEO, SynerTrade. “We welcome the opportunity that any customers or people considering Jaggaer/BravoSolution/POOL4TOOL, to ask us any questions they have involving the acquisition or their change of control clause. This acquisition brings to light the evidence that customers should look at the company as a whole, their future plans, and we welcome all that are now worrying about facing potential pricing increases and turnover ahead.”
SynerTrade is a cloud-based platform that covers the entire purchasing process. A recognized industry leader in Strategic Sourcing, Supplier Relationship Management, and Purchasing Intelligence; SynerTrade ACCELERATE offers 34 different applications from Source to Contract, Procure to Pay, and Spend Intelligence. SynerTrade is a full suite of digital procurement solutions that enable businesses to have control and clear visibility of their spend – resulting in lowered costs, increased revenue, and enhanced customer loyalty.