Back in 2014, Stan Garber and Alex Yakubovich set out to reinvent the request for proposals (RFP) process with the launch of Scout RFP, which provides a cloud-based sourcing solution designed to help organizations source faster — and, ideally, easier. Scout RFP was acquired by Workday in 2019, and Garber and Yakubovich decided to stay […],
The Acquisition of Scout RFP by Workday: Revolutionizing the RFP Process
In 2014, Stan Garber and Alex Yakubovich embarked on a mission to revolutionize the request for proposals (RFP) process. They introduced Scout RFP, a cloud-based sourcing solution aimed at streamlining and expediting the RFP process for organizations. The innovative platform was designed to make sourcing faster, simpler, and more efficient. Recently, in 2019, Scout RFP was acquired by Workday, a well-established provider of enterprise cloud applications for finance and human resources.
A Game-Changing Solution for Organizations
Scout RFP’s cloud-based platform was a game-changer for organizations seeking a more efficient way to handle the request for proposals process. By automating various manual tasks involved in sourcing, Scout RFP significantly reduced the time and effort required to manage RFPs. Organizations could now easily collaborate with suppliers, track progress, and customize workflows within a user-friendly interface. This streamlined approach allowed for quicker decision-making and improved sourcing outcomes.
Joining Forces with Workday
Recognizing the potential of Scout RFP’s innovative solution, Workday acquired the company in 2019. This strategic move allowed Workday to expand its offerings beyond finance and human resources, empowering organizations with a comprehensive platform for both internal processes and external sourcing needs. The integration of Scout RFP’s capabilities into Workday’s ecosystem promises to bring even more value to organizations worldwide.
A Promising Future for the RFP Process
The acquisition of Scout RFP by Workday marks a significant step forward in revolutionizing the RFP process. With their combined expertise and resources, the two companies have the potential to reshape how organizations approach sourcing and procurement. This acquisition is a testament to the importance of efficient and streamlined procurement processes in today’s fast-paced business landscape.
As organizations continue to rely on technology for optimization and efficiency, solutions like Scout RFP and Workday are at the forefront of innovation in the sourcing realm. With their cutting-edge tools and collaborative platforms, organizations can now navigate the RFP process with ease and transform the way they source suppliers.
References:
– Source: [Scout RFP Acquired by Workday](https://www.workday.com/en-us/company/newsroom/press-releases/press-release-details.html?id=2382397)
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