Provade is a provider of on-demand managed procurement solutions for the Global 2000. Built around ERP procurement applications, Provade's category-driven managed services and solutions aim to help businesses realize the significant benefits that spend management often promises but rarely aims to deliver: measurable savings, minimal investment, simple integration, and greater visibility. In October 2011, Provade was acquired by Pinnacle Technical. The valuation of Provade was undisclosed. Other terms of the deal were not released.
Latest Provade News
Feb 22, 2018
Share Article This acquisition aligns with SmartERP’s continued growth in providing cloud-based solutions and services for Human Capital Management (HCM), Services Procurement, and Vendor Management Systems (VMS) on a common Oracle technology platform. Smart ERP Solutions We are thrilled and excited to have Provade with us to further its vision of providing businesses with the ability to automate and expand their mission critical vendor management workflow and decision-making process with our latest technologies and onboarding platform—Doris Wong, CEO, SmartERP PLEASANTON, Calif. (PRWEB)February 22, 2018 Smart ERP Solutions, Inc. (“SmartERP”), the provider of Smart Onboarding and other solutions and services, has acquired Provade Inc. (“Provade”). Smart Onboarding is a cloud-based onboarding platform that provides state-of-the-art security and compliance features, offering a complete automated solution throughout the entire onboarding and offboarding lifecycle for employees, contingent workers and vendors. Provade is a provider of an Oracle ecosystem focused enterprise class Services Procurement and Vendor Management System (VMS) for global contingent workforce spend management. “Smart Onboarding is a robust platform that complements the key functionalities of Provade’s VMS solution,” said Hans Bukow, President and CEO of Provade. “We are excited to begin our next phase of growth by leveraging the technologies, resources and customer relationships offered by SmartERP to accelerate the delivery of our innovative cloud solutions and vision.” “Provade has consistently maintained its industry-leading position as a robust and highly scalable enterprise class platform,” said Doris Wong, CEO of SmartERP. “We are thrilled and excited to have Provade with us to further its vision of providing businesses with the ability to automate and expand their mission-critical vendor management workflow and decision-making process with our latest technologies and onboarding platform.” This acquisition aligns with SmartERP’s continued growth in providing cloud-based solutions and services for Human Capital Management (HCM), Services Procurement, and Vendor Management Systems (VMS) on a common Oracle technology platform. “Based on our research, the vendor management software market is expected to grow between 11% to 15% CAGR until 2022, driven by the complexity of reporting and tracking multiple vendors’ performances across the enterprise,” said Prabhu Antony, Senior Vice President of Sett & Lucas, the M&A advisor for the transaction. “We see this as an opportune time for SmartERP to continue to enhance and expand their cloud-based solutions and services offerings, including the Smart Onboarding platform to capitalize on the market’s growth trajectory.” About Smart ERP Solutions, Inc. Founded by Oracle/PeopleSoft veterans, Smart ERP Solutions® is a unique organization in the Enterprise Business Applications space providing innovative, cost-effective, and configurable solutions as well as a wide range of consulting services that efficiently extend the capabilities of ERP systems to meet specific business process needs. SmartERP enables clients to seamlessly integrate their people, processes, applications, and data, across an enterprise, enabling the organization to streamline its operations and support business growth. SmartERP application managed services can supplement an organization’s staff, co-manage applications or manage their entire set of Enterprise Business Applications. About Provade Inc. Provade Inc., delivers the only Oracle ecosystem focused enterprise class Services Procurement and Vendor Management System (VMS) for global contingent workforce spend management. Provade’s robust Software as a Service (SaaS) solution helps businesses achieve efficiency and measurable savings in their staffing, statement of work (SOW), outsourced pay-rolled work, independent contractor usage and other work services spend. Leveraging best-in-class technology, Provade Services Procurement VMS delivers business process flexibility, robust analytics and complete integration with ERP systems--all with the best up-time, highly-compliant and most comprehensive security performance in the industry. About Sett & Lucas Sett & Lucas (S&L) is a global independent financial institution that provides impartial advice, ideas, strategy and execution services, by leveraging global presence, domain knowledge in specific industry verticals and a clear goal to deliver value to clients. Over 120 associates working out of seven countries deliver value, by unlocking value (through investment banking and transaction advisory services), creating value (through the fund management business) and protecting value (through the regulatory compliance service, Zurik). S&L is a leader in Mergers & Acquisition and capital raise services to the Digital Marketing industry. MEDIA CONTACT
Provade Frequently Asked Questions (FAQ)
When was Provade founded?
Provade was founded in 2004.
Where is Provade's headquarters?
Provade's headquarters is located at 4683 Chabot Drive, Pleasanton.
What is Provade's latest funding round?
Provade's latest funding round is Acquired - II.
How much did Provade raise?
Provade raised a total of $15.5M.
Who are the investors of Provade?
Investors of Provade include Smart ERP Solutions, Pinnacle Technical Resources, Altos Ventures, Harbor Pacific Capital and Asset Management Ventures.
Who are Provade's competitors?
Competitors of Provade include Beeline and 2 more.
Compare Provade to Competitors
Beeline develops software solutions for sourcing and managing the extended workforce. Its software helps procurement, sourcing, and human resources professionals optimize costs, reduce risks, and add value to their services procurement and contingent workforce programs. Beeline was founded in 1999 and is based in Englewood, Colorado.
trueLedger is a procurement technology company. trueLedger smart contracting technology empowers users to leverage value-based procurement, align buyer-vendor incentives, and reduce the total cost of professional services. It was founded in 2021 and is based in Zurich, Switzerland.
TimeFlow offers an online marketplace for the information technology (IT) industry. It offers an intelligent software platform that connects companies looking for software developers to optimize companies' workforce. The company was founded in 2020 and is based in Milan, Italy.
Fieldglass is a developer of a software tool, sold as a service, that aims to allow its customers to manage the procurement, payment and measurement of its services expenses. Fieldglass' cloud-based Vendor Management System (VMS) allows organizations to better procure and manage their flexible workforces, including contingent labor and services managed through Statements of Work, such as project-based spend, offshore engagements and independent contractors. Fieldglass is the current VMS market leader in total spend and global footprint, according to Staffing Industry Analysts. The world's leading companies, including GlaxoSmithKline, Johnson & Johnson, Monsanto, and Rio Tinto, rely on Fieldglass to gain visibility into complex services spend, improve worker quality, enforce corporate and external compliance and realize greater contingent workforce program efficiencies.
PeopleFluent offers Talent Mangement solutions with a focus on business intelligence and analytics. The company's mobile and SaaS technology gives clients the insight required to make strategic decisions that drive better business results. PeopleFluent's solutions manage the entire talent lifecycle from recruiting to onboarding and through the ongoing management of each individual's career while helping organizations measure, analyze and empower their existing workforce.
Bluewolf operates as a global consulting agency. It helps to build digital solutions designed to create results. The company offers cloud technology services to various industries. The company was founded in 2000 and is based in New York, New York. In March 2016, Bluewolf was acquired by IBM.