Workday, Inc. (NASDAQ:WDAY), a Pleasanton, Calif.-based provider of enterprise cloud applications for finance and human resources, acquired Scout RFP, a San Francisco-based provider of a platform for strategic sourcing and supplier engagement, for approximately $540m.
With Scout RFP, the company will provide organizations with a source-to-pay solution with a strategic sourcing offering to deliver reduction in spend, policy compliance, and engagement across key stakeholders.
Led by Alex Yakubovich, CEO, Scout RFP provides a cloud-based strategic sourcing and supplier engagement platform to streamline their processes, manage a unified pipeline of projects, and collaborate with stakeholders and suppliers. More than 240 global brands use the solution today. The company is backed by Scale Ventures, Menlo Ventures, New View Capital, Salesforce Ventures, Workday Ventures, and Google Ventures.
Founded in 2005 by Aneel Bhusri, CEO, Workday delivers financial management, human capital management, planning, and analytics applications designed for large companies, educational institutions, and government agencies.