Total global procurement spend totals more than $13 trillion annually. With so much money on the line, the need for procurement optimisation is critical. This substantial spending underscores the critical role procurement optimisation plays in improving efficiency and cost management for businesses around the world. Organisations are increasingly turning to digital solutions to improve visibility and control over their procurement processes, reportedly underscoring the significance of a new merger between Unimarket and VendorPanel.
Unimarket-VendorPanel merge
Unimarket, a global technology provider of spend management and e-procurement solutions, recently announced an upcoming merger with VendorPanel, a source-to-contract procurement platform. The companies argue the union will combine the strengths of both organisations, allowing them “to deliver a more robust source-to-pay solution”. The merger will also help improve business processes and deliver tangible business outcomes for both companies’ customers worldwide.
The combined company now serves nearly 450 customers across the United States, Australia, New Zealand, and Canada, in sectors such as corporate, education, healthcare, government, energy, facility management, transport, and utilities.
“Both companies bring over 15 years of expertise and a proven track record of delivering exceptional results,” said Phil Kenney, CEO of Unimarket. “This merger strengthens Unimarket’s ability to meet the evolving needs of our global customers, offering scalable solutions that capitalise on growing market opportunities.”
“Our merger with Unimarket provides an incredible opportunity to deliver even more value to our customers,” said James Leathem, CEO of VendorPanel. “Our combined platform delivers a comprehensive solution that enhances visibility and drives operational performance across the entire source-to-pay process.”
“This strategic merger marks a significant milestone for both Unimarket and VendorPanel, reinforcing their leadership in the procurement technology space,” said Phil Cunningham, Managing Director at Accel-KKR. “With their combined capabilities, these two companies are now poised to capitalise on global growth opportunities, delivering unmatched value to their customers while driving innovation and performance improvements across the source-to-pay ecosystem.”
