Carmel, IN (GLOBE NEWSWIRE) - Determine, Inc. (NASDAQ:DTRM), the pioneering leader in global Source-to-Pay and Enterprise Contract Lifecycle Management (ECLM) Cloud Platform solutions, announced today that Silvan in Denmark, one of the largest DIY consumer retailers in the Nordic region, is leveraging the Determine Cloud Platform for Sourcing, Contract Management and Supplier Management.
Founded in 1968, Silvan operates 42 DIY stores and one E-commerce shop in Denmark, and is recognized for its wide range and assortment of products for fitting, repairing and maintaining homes. Strategically placed close to larger cities and population centers, Silvan stores include both building materials and garden centers. The company enjoys the highest brand awareness and category popularity among DIY customers in Denmark.
Silvan is well-positioned to continue capitalizing on the growing DIY market in Denmark, while also further expanding its e-commerce presence. As a major retailer, the company is tapping Determine’s deep retail experience along with its range of seamlessly integrated modular solutions on the Determine Cloud Platform to achieve higher levels of procurement savings, process efficiency and supplier contract compliance.
"Silvan is pursuing an outsourcing strategy that focuses on standardized cloud solutions. Determine offered us exactly that, and provided an extremely swift implementation time, which was a critical criteria given that Silvan was being sold off from the Stark Group.”
— Niels Nielson, CIO, Silvan
Currently, the retailer is using the combined power of Determine’s Sourcing module for advanced RFX and Auction capabilities; Contract Management module to administer full contract lifecycle requirements; and Supplier Management module for innovative Supplier Information Management and Supplier Performance Management functionality.
“Silvan is the leader in a highly competitive retail industry. That means finding every advantage in terms of sourcing and contract management efficiency, and leveraging technology to enable better supplier relationships and management to maximize savings and mitigate risk. We are extremely proud that Silvan chose Determine’s advanced source-to-pay capabilities to help them easily integrate data and workflow across multiple solutions and departments, and achieve their initiatives.”
— Patrick Stakenas, President & CEO, Determine, Inc.
From the first Silvan building materials retail outlet opened in Denmark in Slagelse in 1968, Silvan has grown to 42 stores. Along with an expanding online presence, Silvan is Denmark's largest retailer in the consumer do-it-yourself market. Silvan is part of AURELIUS Group, a pan-European asset manager with offices in Munich, London, Stockholm, and Madrid.
For further information, please visit www.silvan.dk.
About Determine, Inc.
Determine, Inc. (NASDAQ:DTRM) is a leading global provider of SaaS Source-to-Pay and Enterprise Contract Lifecycle Management (ECLM) solutions. The Determine Cloud Platform provides procurement, legal and finance professionals analytics of their supplier, contract and financial performance. Our technologies empower customers to drive new revenue, identify savings, improve compliance and mitigate risk.
The Determine Cloud Platform seamlessly integrates with major ERP or third-party systems such as SAP, Oracle, Sage, QAD and Microsoft. Modular solutions can be configured to add more as needed to provide additional value beyond spend management. Our unified master database and business process approach empower users at every level to make more informed and smarter decisions.
For more information, please visit: www.determine.com.
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SOURCE: Determine, Inc.