Santa Clara, CA November 15, 2001 Will an e-sourcing software provider by any other name sell so suite? Webango is certainly hoping that will be the case as the e-sourcing pioneer today unveils a new name and an upgrade to the company's suite for sourcing.
The company formerly known as Webango is now Diligent Software Systems Corp.
"Our new name sets the expectations we hold for ourselves and what our customers hope to achieve through our solutions," said Charles Jepson, who is currently multitasking as chairman, CEO and president of Diligent Software. "Our new name embodies the confidence, enterprise focus and maturity of our solutions [that] our customers have come to expect."
Diligent combined the name-change announcement with the rollout of the company's new e-sourcing software, Diligent Source/3 Application Suite, which adds information-sharing and analysis functionality to existing capabilities for conducting online sourcing activities and managing contracts.
The solution provider says that Source/3 provides a unified workspace for sourcing activities, combining capabilities to manage requests for information, quotes and proposals, auctions and contracts with the ability to analyze purchasing and sourcing activity on an ongoing basis and to share sourcing information and best practices across an enterprise.
The expanded functionality of the new suite is part of a trend toward adding additional links in the strategic sourcing chain to e-sourcing providers' offerings according to Tim Minahan, vice president of supply chain research at technology consultancy The Aberdeen Group. "With the rapidly changing dynamics of the e-sourcing market, solution providers are rushing to deliver platforms that addresses the complete sourcing cycle, from spending analysis and requirements development through negotiation and contract management," Minahan said.
"Diligent's release of the Source/3 Application Suite shows that the company is executing to its strategic product vision to offer a broad solution that can support an enterprise's strategic sourcing initiatives while lowering costs and increasing efficiencies throughout the sourcing cycle," Minahan added.
The software is built on the Source/3 Platform, which links applications within the Source/3 Suite and external legacy systems. The suite also provides a central repository for sourcing-related information within an enterprise, serving as a knowledge base and allows a company to disseminate and enforce sourcing best practices between divisions.
"Traditional sourcing solutions encapsulate critical business information within each stage of the sourcing cycle, undermining the company's ability to leverage the knowledge for more effective sourcing engagements and contracts, " said Jepson. "Next-generation e-sourcing systems must unlock the power of centralized access to sourcing information from selection through contract. This will equip organizations with the best practices, analysis capabilities, continuous process improvements and returns to the bottom line that today's economy demands."
The suite can be delivered as a hosted solution or installed behind an enterprise's firewall. Dave Packer, the company's senior director for marketing, said in an interview prior to the latest announcements that Diligent would be focusing in part on optimizing the suite for installation at an enterprise site.
Diligent's enterprisewide focus is not surprising. Jepson came onboard Webango in September with more than three decades of senior management experience at enterprise-focused organizations. Most recently, he served as CEO of Inference Corp., a provider of CRM solutions that was acquired by eGain Communications in April 2000.
Jepson's stated goals upon his appointment include ensuring Webango could support the e-sourcing needs of global enterprises looking to deploy the solution provider's e-sourcing tools in multiple countries. The company recently opened up a London office as part of an international expansion.
Diligent remains privately held, with investments from Battery Ventures, Concord Ventures and Redwood Venture Partners.