08 Mar 2018 Access Group acquires procurement software business
There was an interesting announcement this week in the Purchasing Software world. The Access Group, a UK provider to growing mid-market businesses, has announced the completion of the acquisition of Procure Wizard who specialise in providing procurement solutions for the UK hospitality industry.
This is a fascinating space. Birch Street have been offering hospitality solutions in North America for some time and are absolutely on the radar of the analysts and while I have seen a few player making headway in this industry there isn’t a great deal outside of the US. It’s a highly specialist market with a working environment that doesn’t fit many traditional purchasing processes.
In the press release the Procure Wizard online platform is described as enabling hospitality businesses “to streamline back-office processes, to deliver measurable cost savings, improved profitability and labour efficiencies. It is probably best known for its ‘Purchase to Pay’ technology, which effectively streamlines procurement practices, reducing indirect spend, improving controls and automating invoice processing.
“Procure Wizard also offers food, beverage and laundry control solutions, time and attendance, menu engineering and contract management and a unique scanning solution that enables operators to capture 100% of their inbound invoices.”
The company claims that in less than 8 years it has “established itself as the dominant player in online procurement for the UK hospitality sector with more than 25,000 users and over 200 clients, including The Patisserie Valerie, Macdonald Hotels & Resorts, Bill’s, Le Bistrot Pierre, Drayton Manor Theme Park, Peach Pubs and Company of Cooks.”
Chris Bayne, CEO, Access Group commented: “The Access hospitality division continues to go from strength to strength, following a number of significant business acquisitions across the hospitality industry. We’re committed to delivering leading edge technology for operators, from reservations and ticketing, through to EPoS, HR and labour optimisation, property maintenance and compliance. Now, with the acquisition of Procure Wizard, we can extend our service provision to include online procurement, purchase to pay and menu engineering to deliver an exciting end-to-end solution for multi-site operators.”
William Gorol, Managing Director, Procure Wizard commented: “As one of the leading technology providers in the UK, we are confident that Access is the right partner to take Procure Wizard to the next level. I am delighted to be involved as Procure Wizard embarks on this exciting new phase of growth and becoming part of the Access Group, with its considerable resources and synergies, offers huge potential for Procure Wizard customers.”
We wish The Access Group luck in this venture and I will be following their fortunes with interest.
Pete Loughlin can be found on twitter @peteloughlin