Onventis, in conjunction with its management and majority shareholder Main Capital, has acquired WorkFlowWise, a cloud-based provider for workflow automation, invoicing and expense management. WorkFlowWise’s founders and managers believe in the shared vision and will become co-shareholders of the combined group.
Founded in 1997 with headquarters in Rijswijk (Netherlands), WorkFlowWise has grown into a leading, low-code platform for workflow automation of procure-to-pay processes. The company’s core products include GO-Spend (invoice processing, invoice matching, contract management, budget control, purchase management), GO-Expense (mobile receipt submission, expense claims, approval management) and GO-Check (checklists, responsibilities, progress mapping). Its low-code development environment allows for quick configurations and extensions in order to flexibly adjust to client needs. WorkFlowWise serves a well-diversified client base with more than 150 organizations across various industries, such as Adecco, CBRE, Thyssen Krupp, Hilton Food Group, SDU Publishers, K Line, Sysmex, Kennedy Van der Laan, and WTH.
Many procurement managers and CPOs struggle with the globalization whilst simultaneously facing risks along the supply chain and cost cutting programs. The resulting complexity forces more and more companies to invest in the digitization and automation of their procurement processes. Industry analysts expect the growing pressure will increase the number of organizations making use of e-procurement solutions and thus spur the overall market growth in the years to come.
Looking forward, the combination with WorkFlowWise will expand Onventis’ Open Procurement Network especially with high-quality, fully cloud-based invoice processing, expense management and generic workflow capabilities that fit well into the existing platform. The Onventis current and future customers will benefit from the integrated suite through additional functionalities and improved flexibility alongside the entire procurement cycle – but particularly in the “pay”-part of procure-to-pay. Moreover, Onventis will also further expand its client base to the Benelux region, thereby cementing the common goal of an international, end-to-end platform. The management teams of both Onventis and WorkFlowWise are excited about the shared vision and partnered with Main Capital as joint shareholders of the group.
Partnership Onventis – WorkFlowWise – Main Capital
Frank Schmidt (CEO of Onventis):
“We are thrilled to welcome the WorkFlowWise team on board. We were immediately impressed by their smart invoicing solutions, their customer references and the deep process know-how they have developed over the years. The combination of our product portfolios will significantly improve our e-procurement offering especially in the fast growing market for fully automated invoicing solutions.”
Harm Poelen (CEO of WorkFlowWise):
“We are excited about the merger with Onventis to provide one of the most advanced and comprehensive procurement suites for the midsize market. We see great synergies for the combined group to boost its growth and further expand its international footprint.”
Sven van Berge Henegouwen (Partner at Main Capital Partners):
“Since the start of Main’s partnership with Onventis in June 2019, we have worked hard to find the perfect provider of invoicing and workflow automation software to complement Onventis’ product suite. We are very happy to combine forces with WorkFlowWise and its capable management team and to provide better products & services to customers.”
Established in 1997, WorkFlowWise has quickly grown into one of the leading cloud-based workflow automation companies in the Netherlands. With a particular strength in procurement and invoicing-related processes, WorkFlowWise helps its 150+, mostly small- to mid-sized clients to reduce laborious tasks and reduce pressure on supply chain managers. Furthermore, its budget control solutions ensure users have full transparency and control over their spending. To satisfy even the most complex requirements, the underlying low-code platform allows for easy customizations and flexibility across the standardized product palette.
The cloud-based provider Onventis has optimized its e-procurement solutions for midsize enterprises. The Onventis Open Procurement Network connects B2B business processes for buyers and suppliers – simply and securely. In addition to holistic 360° processes for strategic and operational procurement, the all-in-one procurement network includes on-demand content integration as well as networking possibilities across corporate boundaries. Worldwide, approximately 850 purchasing organisations with around 450,000 users and 50,000 suppliers handle over 10 billion euros in business volume annually via the Onventis platform.
Onventis Buyer supports companies in procurement to increase business success through material cost savings and process optimization. Onventis Supplier supports suppliers to attract customers and leverage sales opportunities.
The modular Onventis product portfolio has been awarded with the BME “Supplier Relationship Management” and “Mobile Procurement” as well as the BITMI “Software Made in Germany” and “Software Hosted in Germany” seal of approval. The information security management systems (ISMS) at Onventis are also certified according to ISO/IEC 27001.
About Main Capital
Main Capital is a strategic investor with an exclusive focus on the software sector in the Benelux, Germany and Scandinavia. Within this sector, we are the most specialized party in management buy-outs and later-stage growth capital for strategic acquisitions. Main Capital has approximately Euro 1 billion under management for investments in mature but growing software companies in the Netherlands, Germany and Scandinavia. An experienced team of professionals manages the portfolio of software groups from offices in The Hague, Düsseldorf and Stockholm.
In addition to Onventis, the current investment portfolio of Main Capital consists of growing (SaaS) software companies such as Alfa (SE), WoodWing (NL), Exxcellence (NL), GBTEC (DE), Assessio (SE), Optimizers (NL), HYPE Innovation (DE), cleversoft (DE), Enovation (NL), SDB Ayton (NL), GOconnectIT (NL), JobRouter (DE), Inergy (NL), MUIS Software (NL), artegic (DE), OBI4wan (NL), b+m Informatik (DE), ChainPoint (NL) and RVC (NL). Main Capital also has an interest in managed hosting provider Denit. Main Capital has a long-term perspective with the intention to build larger strong software groups. Former successful Main Capital group companies include among others Roxit, Axxerion, and Regas.
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