Requisite Technology
Spend and master data management.
| Date | Investors | Amount | Round |
|---|---|---|---|
| N/A | €0.0 | round | |
| investor investor investor investor investor investor | €0.0 | round | |
$21.0m Valuation: $21.0m | Acquisition | ||
| Total Funding | 000k | ||
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Founded in 1993, Requisite Technology carved out a niche in the enterprise software market by providing solutions for Master Data Management (MDM). The company developed a platform to help businesses manage information for a wide array of items, from finished goods to MRO (maintenance, repair, and overhaul) materials. Its core function was to create a single, uniform version of item data, enabling companies to cleanse, align, and enhance information regardless of their specific cataloging needs.
The company's offerings were built around a suite of tools designed to handle complex data challenges. This included the 'eMerge' tool for content aggregation and workflow management, 'Content Workstation' for data cleansing and validation, and a patented search engine known as 'Bugseye'. This technology allowed users to effectively search through aggregated and standardized information to find specific item details and images. Requisite Technology primarily served large enterprises across various sectors, including aerospace and defense, consumer goods, high-tech, and transportation. Prominent clients included BASF, Eastman Kodak, and Union Bank of California.
The business model incorporated both direct software licensing and a Software as a Service (SaaS) model, which was utilized by leading Business Process Outsourcing (BPO) providers for their procurement operations. A significant aspect of its strategy involved embedding its MDM software into the solutions of major Enterprise Resource Planning (ERP) providers. This partnership approach led to the widespread adoption of its technology, with hundreds of customers using elements of the Requisite solution through a major ERP provider's platform. In November 2005, Requisite Technology was acquired by Click Commerce, a provider of collaborative commerce solutions. The acquisition was aimed at enhancing Click Commerce's catalog offerings by integrating Requisite's established MDM capabilities.
Keywords: Master Data Management, MDM, enterprise software, data cleansing, content aggregation, catalog management, e-commerce, data management, B2B software, procurement solutions, supply chain management, ERP solutions, data validation, enterprise data, workflow management, Bugseye, eMerge, Click Commerce acquisition, RequisitePro, data repository