Workday Buys Scout RFP for $540 Million to Boost Procurement
Workday acquires online procurement platform Scout RFP for $540 million to fill a major gap in its cloud back office offerings. The purchase brings 240 global customers and 160 employees to Workday.
Workday agrees to acquire online procurement platform Scout RFP for $540 million to strengthen its existing procurement and inventory solutions. This purchase fills a significant gap in Workday's cloud back office strategy by adding a best-in-class strategic sourcing offering to its portfolio.
Workday Ventures is already an investor in Scout RFP and has partnered with the company since 2018. Analyst Ray Wang notes that this deal helps Workday deliver a more complete enterprise resource planning system that includes finance, human capital management, and supply chain operations.
Scout RFP brings 240 customers across 155 countries and 300,000 users to Workday. The founders of Scout RFP praise the shared focus on user experience and customer satisfaction, and all 160 employees plan to transition to Workday when the deal closes.