Workday, Inc. (NASDAQ:WDAY), a leader in enterprise cloud applications for finance and human resources, has completed its acquisition of Scout RFP, a leading cloud-based platform for strategic sourcing and supplier engagement. With Scout RFP now part of Workday, customers will be able to expand how they plan, execute, analyze, and extend in one system, with a modern source-to-pay solution that helps better optimize spend. The company will operate as Scout RFP, a Workday company.

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“With Scout RFP now part of Workday, we will equip procurement teams with a modern source-to-pay solution to help optimize spend with greater efficiency, engagement, and transparency,” said Aneel Bhusri, co-founder and CEO, Workday. “I’m thrilled to welcome this talented team to Workday. By bringing together our joint focus on employees, customers, and innovation, we will be able to set the new standard for spend management.”

“We founded Scout RFP with the idea to rethink strategic sourcing and help businesses create even more impact with their procurement processes. Five years later, we have nearly 300,000 global Scout RFP users and a growing team of innovators,” said Alex Yakubovich, CEO, Scout RFP. “As part of Workday, we’ll be able to pioneer simpler, smarter, and streamlined procurement solutions – at a greater scale – all while unifying our two great company cultures.”

“The office of procurement is undergoing significant transformation, and the combination of Scout RFP and Workday will provide organizations with a robust source-to-pay solution to help support this transition,” said Mickey North Rizza, program vice president, Enterprise Applications & Digital Commerce, IDC. “As the back office navigates new complexities, it’s essential they have modern solutions that help enable them to better optimize spend and engage with key stakeholders in order to drive business growth and remain competitive.”