Perfect Commerce

Perfect Commerce, which now operates as Proactis, carved a significant niche in the business-to-business e-commerce sector through a history of strategic acquisitions and organic growth.

The company was founded as eScout.com by Alexander "Sandy" Kemper, who served as its Chairman and CEO from 2000 to 2006. Kemper, who came from a family of bankers and previously led UMB Financial Corporation as CEO, leveraged his financial acumen to pioneer supplier relationship management (SRM) technology. Under his leadership, the company developed the Open Supplier Network (OSN), which grew into one of the largest independent supplier networks globally, connecting hundreds of thousands of suppliers. The company was also known for a time as Cormine LLC.

Perfect Commerce's business model centered on providing on-demand, Software-as-a-Service (SaaS) spend management solutions. Its product suite was designed to streamline the entire source-to-settle process for its clients. Key offerings included PerfectSource for supply management, PerfectProcure for controlling the procure-to-pay process, and PerfectShop for managing company-approved goods and services. The firm served a wide array of industries, including manufacturing, retail, energy, and financial services, helping them reduce procurement costs and improve operational efficiency.

A key element of its growth strategy was the acquisition of other players in the e-commerce space. A notable move was the 2006 acquisition of Commerce One, a B2B e-commerce pioneer, which gave Perfect Commerce ownership of core technology and expanded its footprint in Europe. The company also merged with Pantellos in 2004 and acquired Supply Chain Connect in 2012, further bolstering its supplier network and capabilities.

In July 2017, the company reached a major milestone when it was acquired by the UK-based Proactis Holdings PLC for a total consideration of up to $132.5 million. This transaction was a reverse takeover, creating a combined entity with a significantly larger global scale. At the time of the acquisition, Perfect Commerce served approximately 150 large-tier customers with over 1.3 million users across more than 80 countries. Following the merger, Perfect Commerce's President and CEO, George Hampton Wall Jr., assumed the role of CEO for the enlarged Proactis group.

Keywords: spend management, supplier relationship management, procure-to-pay, SaaS, e-procurement, Open Supplier Network, B2B e-commerce, strategic sourcing, supply chain management, Proactis