CARMEL, Ind., Sept. 28, 2017 (GLOBE NEWSWIRE) -- Determine, Inc. (NASDAQ:DTRM), the pioneering leader in global Source-to-Pay and Enterprise Contract LifecycleManagement (ECLM) Cloud Platform solutions, announced today that Selecta TMP AG, a leading European self-serve retailer, signed a multi-year commitment with Determine for Smartsource Suite from Source to Contract, Supplier Management and Analytics. Following the company’s recent acquisition of Pelican B.V., Selecta continues with Determine Smartsource to assist in its rapid expansion across markets in Europe.
Headquartered in Switzerland, Selecta is a leading European self-serve retailer providing top-brand coffee including Starbucks, Lavazza, Pelican Rouge and Miofino, as well as convenience food and beverage concepts for the workplace, on-the-go, as well as hotels, restaurants and cafes (“HoReCa”). The company has an annual turnover of €1.3 billion.
Selecta is leveraging Determine solutions to improve procurement control and efficiency across a number of areas, including Project Tracking — Configured to the company’s specific tracking demands to monitor project status and annual savings goals. eRFx — To manage complex development projects and real-time communication with suppliers. eAuctions — Achieving overwhelming results for indirect and commodities sourcing.
It’s all in the numbers: Selecta subjects up to 80% of it's €175 million addressable annual spend to Sourcing processes. €37 million worth of this spend has gone through Determine eAuction technology over the last 3 years, identifying an average saving of 12%, worth €4.5 million.
"Using Determine has helped us to successfully establish the Selecta Group procurement function. We have seen a big increase in visibility and control across all projects and contracts and much more efficient negotiation via eRFx and eAuctions. We look forward to continuing our post-acquisition journey to World Class Procurement with Determine.”
— Petr Hurab, Group Procurement Manager Controlling & E-Sourcing, Selecta
As the newly expanded Selecta works to deliver a more diversified product offering to it’s clients and more than six million consumers daily, Determine will play an integral role in helping the company streamline and control its sourcing and procurement functions.
“Providing flexibility and control in a merger and acquisition event is essential for success of any enterprise organization. For Selecta, this means an ability to focus on their business of being a leader in vending and coffee services across Europe. Determine technology empowers organizations like Selecta to easily adapt sourcing, contract management, and supplier management with their wider business strategy.”
— Rose Lee, Chief Customer Officer, Determine, Inc.
About Selecta Group
Headquartered in Switzerland since 1957, Selecta is a leading self-serve retailer operating in 15 European countries. An annual turnover of €1.3 billion is a testament to the passion and dedication of more than 8850 highly skilled Selecta employees, providing great quality coffee brands and convenient food and beverages concepts for the workplace, on-the-go as well as hotels, restaurants and cafes (“HoReCa”).
For further information, please visit www.selecta.com.
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About Determine, Inc.
Determine, Inc. (NASDAQ:DTRM) is a leading global provider of SaaS Source-to-Pay and Enterprise Contract Lifecycle Management (ECLM) solutions. The Determine Cloud Platform provides procurement, legal and finance professionals analytics of their supplier, contract and financial performance. Our technologies empower customers to drive new revenue, identify savings, improve compliance and mitigate risk.
The Determine Cloud Platform seamlessly integrates with major ERP or third-party systems such as SAP, Oracle, Sage, QAD and Microsoft. Modular solutions can be configured to add more as needed to provide additional value beyond spend management. Our unified master database and business process approach empower users at every level to make more informed and smarter decisions.
For more information, please visit: www.determine.com.