The enterprise resource planning system market is expected to achieve US$41.69 billion by the year 2020, with the finance sector driving the growth and taking 30% of the overall market revenue.
B/2BNOW, a leading provider of electronic data interchange (EDI) solutions for the SAP S/4HANA Cloud enterprise resource planning (ERP) system has closed its Seed Equity Round with CSA Partners and Esker. The partnership with Esker, a worldwide leader in AI-driven process automation solutions and pioneer in cloud computing, is integral to the B/2BNOW’s expansion and client acquisition.
The strategic partnership between the two companies is anticipated to provide better automation and an improved experience on S/4HANA as customers prepare for the transition from SAP’s legacy ERP business suite. The German ERP software giant has earlier announced that it will discontinue its support to those who have not migrated to S/4HANA by 2025.
Mike Kersels, CEO and founder of B/2BNOW shared the company’s excitement with the first round funding that led to a partnership with Esker. He said:
“The Esker partnership will allow us to leverage their industry-leading UI to present data in ways that will empower companies to base decisions on-trend reporting and real-time dashboards. Our funding will also enable B/2BNOW to develop world-first innovations for our SAP customers, including Blockchain for EDI.”
As one of the earliest adopters in the S/4HANA space, B/2BNOW is the first in the world to implement an EDI solution for S/4HANA public cloud. With B/2BNOW’s solution, businesses ready to transition to S/4HANA gets a leg up from offerings that work not only now but even as the platform matures.
The completion of the initial round of funding was led by industry veteran Kersels with Esker’s stake at 40 percent of the total amount raised in EDI vendors. Esker‘s COO Steve Smith will also be joining B/2BNOW’s Board of Directors. CSA Partners, LLC out of Milwaukee, Wisconsin led the round and has invested in other start-ups such as Onepanel and Fanbox.
A relatively new startup, B/2BNOW is the first and only dedicated S/4HANA B2B solution provider in the market. The company is recognized by SAP and leading system integrators as the subject matter expert and customers’ choice in B2B cloud solutions with capabilities to automate, integrate and manage the exchange of critical business data between S/4HANA systems and external business partners.
A worldwide leader in cloud-based document process automation software, Esker is helping financial and customer service departments digitally transform their order-to-cash (O2C) and purchase-to-pay (P2P) cycles. Esker’s solutions incorporate technologies like artificial intelligence (AI) to drive increased productivity, enhanced visibility, reduced fraud risk, and improved collaboration with customers, suppliers and internally. Used by more than 6,000 companies worldwide, the company operates in North America, Latin America, Europe, and the Asia Pacific with global headquarters in Lyon, France, and U.S. headquarters in Madison, Wisconsin.