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The ODP Corporation (ODP) BuyerQuest Buyout to Boost P2P Services
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The ODP Corporation (ODP - Free Report) continues to focus on enhancing its business-to-business (B2B) services and technology solutions to effectively serve customers. Progressing along these lines, the company acquired BuyerQuest Holdings, Inc. — a leading operator of cloud-based enterprise Procure-to-Pay (“P2P”) software. The buyout is likely to help the company accelerate digital transformation. Let’s take a closer look at this development as well as other strategic efforts undertaken by the company to sustain growth.
BuyerQuest Acquisition is a Prudent Move
The acquisition of BuyerQuest is expected to strengthen The ODP Corporation’s technology development capabilities. This is likely to help the company improve e-commerce, P2P and supply chain platforms. This will enable the company to transform how it offers corporate buying and selling services.
Markedly, BuyerQuest has strong expertise in providing e-commerce services to procurement organizations globally. The company helps to streamline and augment corporate buying process. Its software offers spend transparency, deep insights and advanced intelligence capabilities that are required to enhance corporate savings. Such capabilities help customers drive user adoption as well as contract compliance. BuyerQuest’s leading software capabilities helped it disrupt a crowded P2P arena and acquire some of the most reputable organizations as customers.
The ODP Corporation expects that its sturdy digital commerce technology and supply chain capabilities in combination with BuyerQuest’s expertise in the P2P platform will help it drive efficiency and growth of customers.
Other Strategic Growth Endeavors
We note that last year, The ODP Corporation commenced a multiyear restructuring plan “Maximize B2B,” with the objective to realign operational focus to support its B2B solutions and IT services business units alongside improving costs. Additionally, management has been focusing on boosting its e-commerce platforms as well as providing innovative products and services. The company’s initiatives to expand buy online and pick up in-store have also been on track.
Moreover, The ODP Corporation’s services and products that support work-from-home needs have been gaining traction amid the pandemic. Well, this remote working culture is here to stay for a while. The company, through its product and services, is well poised to cater to the evolving demand stemming from such changes.
We expect such well-chalked efforts to boost offerings will continue supporting this Zacks Rank #3 (Buy) company’s performance in the forthcoming periods. Markedly, the company’s shares have surged 53.7% in the past three months compared with the industry’s rise of 13.8%.
Target Corporation (TGT - Free Report) , also with a Zacks Rank #2, has a trailing four-quarter earnings surprise of 52.4%, on average.
Five Below, Inc. (FIVE - Free Report) has a long-term earnings growth rate of 21% and carries a Zacks Rank #2.
These Stocks Are Poised to Soar Past the Pandemic
The COVID-19 outbreak has shifted consumer behavior dramatically, and a handful of high-tech companies have stepped up to keep America running. Right now, investors in these companies have a shot at serious profits. For example, Zoom jumped 108.5% in less than 4 months while most other stocks were sinking.
Our research shows that 5 cutting-edge stocks could skyrocket from the exponential increase in demand for “stay at home” technologies. This could be one of the biggest buying opportunities of this decade, especially for those who get in early.
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The ODP Corporation (ODP) BuyerQuest Buyout to Boost P2P Services
The ODP Corporation (ODP - Free Report) continues to focus on enhancing its business-to-business (B2B) services and technology solutions to effectively serve customers. Progressing along these lines, the company acquired BuyerQuest Holdings, Inc. — a leading operator of cloud-based enterprise Procure-to-Pay (“P2P”) software. The buyout is likely to help the company accelerate digital transformation. Let’s take a closer look at this development as well as other strategic efforts undertaken by the company to sustain growth.
BuyerQuest Acquisition is a Prudent Move
The acquisition of BuyerQuest is expected to strengthen The ODP Corporation’s technology development capabilities. This is likely to help the company improve e-commerce, P2P and supply chain platforms. This will enable the company to transform how it offers corporate buying and selling services.
Markedly, BuyerQuest has strong expertise in providing e-commerce services to procurement organizations globally. The company helps to streamline and augment corporate buying process. Its software offers spend transparency, deep insights and advanced intelligence capabilities that are required to enhance corporate savings. Such capabilities help customers drive user adoption as well as contract compliance. BuyerQuest’s leading software capabilities helped it disrupt a crowded P2P arena and acquire some of the most reputable organizations as customers.
The ODP Corporation expects that its sturdy digital commerce technology and supply chain capabilities in combination with BuyerQuest’s expertise in the P2P platform will help it drive efficiency and growth of customers.
Other Strategic Growth Endeavors
We note that last year, The ODP Corporation commenced a multiyear restructuring plan “Maximize B2B,” with the objective to realign operational focus to support its B2B solutions and IT services business units alongside improving costs. Additionally, management has been focusing on boosting its e-commerce platforms as well as providing innovative products and services. The company’s initiatives to expand buy online and pick up in-store have also been on track.
Moreover, The ODP Corporation’s services and products that support work-from-home needs have been gaining traction amid the pandemic. Well, this remote working culture is here to stay for a while. The company, through its product and services, is well poised to cater to the evolving demand stemming from such changes.
We expect such well-chalked efforts to boost offerings will continue supporting this Zacks Rank #3 (Buy) company’s performance in the forthcoming periods. Markedly, the company’s shares have surged 53.7% in the past three months compared with the industry’s rise of 13.8%.
Looking For Retail Stock? Check these Solid Picks
Dollar Tree, Inc. (DLTR - Free Report) , with a Zacks Rank #2 (Buy), has a long-term earnings growth rate of 10.9%. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Target Corporation (TGT - Free Report) , also with a Zacks Rank #2, has a trailing four-quarter earnings surprise of 52.4%, on average.
Five Below, Inc. (FIVE - Free Report) has a long-term earnings growth rate of 21% and carries a Zacks Rank #2.
These Stocks Are Poised to Soar Past the Pandemic
The COVID-19 outbreak has shifted consumer behavior dramatically, and a handful of high-tech companies have stepped up to keep America running. Right now, investors in these companies have a shot at serious profits. For example, Zoom jumped 108.5% in less than 4 months while most other stocks were sinking.
Our research shows that 5 cutting-edge stocks could skyrocket from the exponential increase in demand for “stay at home” technologies. This could be one of the biggest buying opportunities of this decade, especially for those who get in early.
See the 5 high-tech stocks now>>