Enable expands in Australia with acquisition of Profectus' leading Rebate Deal Management (RDM) software platform; Profectus secures a stake in Enable while partnership facilitates global market entry.
Enable, the collaborative rebate management platform, has completed the acquisition of the Rebate Deal Management (RDM) arm of Profectus Group, a leading technology-driven services provider of compliance and recovery solutions.
As part of the agreement, Enable will acquire and be responsible for the ongoing operation of Profectus' RDM platform and working with new and existing customers. These customers include some of Australia and New Zealand's largest retailers, such as Officeworks, GPC, Super Retail, and more. The partnership also ensures Enable's existing customers can gain access to elite auditing and compliance technologies and services from Profectus.
For Profectus, the agreement extends the Australian-headquartered company’s services to the global market and allows them to begin working on the compliance and audit side with Enable's existing customers. Furthermore, as part of the agreement Profectus will obtain a stake in Enable.
"Enable is the fastest-growing rebate management software company globally, which is why we’ve decided to invest in Enable’s future. With their obsession in customer success, experienced management team and strong financial backing we’re confident their incredible upward trajectory will continue," said Chris Hutchins, CEO, Profectus Group. "For us, this partnership provides the greater opportunity to maximise value for Enable’s existing clients by helping them automate compliance and recover lost revenue.”
"The synergy between software and compliance and auditing services in the rebate world has been apparent to me for some time. Our customers have expressed an interest in the type of risk management help that specialized expertise and technologies can provide," said Andrew Butt, Enable CEO. "They need help with contract compliance, supplier audits, and accounts payable audits. That’s why we're so excited about Profectus Group. "
While Enable focuses on software, Profectus has perfected their professional auditing offerings and compliance technologies. With this partnership, all our customers will receive benefits. For Profectus’ customers, they’ll be able to access Enable’s rebate management platform and benefit from the massive continuous investment we are making in R&D, and Enable customers gain access to leading audit and compliance expertise to mitigate future risk. Australia and New Zealand is an important region for Enable, and Profectus is the perfect company to partner with us as we pursue our mission in the southern hemisphere."