Supplier management company ConnXus and procure-to-pay firm BuyerQuest are teaming up in the latest show of B2B FinTech firms collaborating to provide more streamlined solutions for joint customers.
An announcement Wednesday (May 17) said ConnXus and BuyerQuest are partnering to tackle what they described as a “disjointed” purchasing process for businesses. Via an API, the companies are linking their solutions, with BuyerQuest’s offerings integrating with ConnXus’ supplier management software.
“Buyers and suppliers both want a simple solution to generate sustainable business relationships,” said ConnXus Chief Operations Officer and Co-Owner Daryl Hammett in a statement. “ConnXus continuously strives to simplify the supplier management workflow, and by integrating BuyerQuest solutions, our clients have one [convenient] location to manage end-to-end procurement processes and relationships.”
In another statement, BuyerQuest Vice President of Alliances Eric Lynch pointed to data from Ardent Partners that found improved supplier collaboration as a top priority for CPOs this year.
“This combination of Cognitive Buying from BuyerQuest with supplier management from ConnXus directly impacts the CPO’s ability to execute on these strategies with tangible results,” he said.
BuyerQuest has inked similar partnerships in the past in an effort to fill in process gaps for its users. Last year, the company partnered with Taulia to add its purchase order eInvoice management capabilities into the procure-to-pay mix.
Another player in the industry, procure-to-pay company Tungsten, also recently announced a partnership. Earlier this year, the company revealed it was working with the Institute of Finance and Management to add an educational aspect into the procure-to-pay and supply chain management mix.