ADDISON,
Texas, May 3, 2024 /PRNewswire/ -- CoreX, a
ServiceNow consultancy, is pleased to announce its partnership
today with NewSpring Holdings, the majority investment strategy
focused on platform builds within the NewSpring Capital family of
private equity funds. Together, they are teaming up their
considerable forces to create the next great ServiceNow consulting
company.
Led by ServiceNow ecosystem veterans since 2009, CoreX is a firm
on a mission: to help their customers harness the newly expanded
power of ServiceNow's S2P and Financial Operations Workflow Product
suite to unlock trapped value for Business Operations, Finance,
Supply Chain, and Procurement teams – specifically aligned around
Industry Solutions and an overall ERP modernization strategy.
According to Rick Wright, CoreX
CEO, and ServiceNow's former SVP of Customer Outcomes, "By
leveraging the newest innovations from ServiceNow, ERP
modernization is finally a journey every company can start today
and make a meaningful impact on their bottom line in months not
quarters or years.
CoreX is a leading provider of ServiceNow-based ERP
modernization services. We're thrilled with our partnership with
NewSpring Holdings, in particular, their track record of successful
acquisition strategies to grow truly great companies, where people
love to work. The combination of our considerable forces
accelerates our ability to team up with the ServiceNow ecosystem's
best consultancies and get to a scale required to service this
growing market".
Building transformative ServiceNow businesses isn't new for the
award-winning CoreX Leadership team. Joining the CoreX founding
team are Steve Dabrowski,
Meghan Lockwood, and Ross Rexer – ecosystem and ServiceNow veterans
who have both helped launch the new ServiceNow product suite, and
served in executive roles at ServiceNow, KPMG, and boutique
ecosystem darling, Acorio.
With prior firms earning multiple placements on the Inc. 5000
list, "best workplace" awards from the Boston Globe and Inc.
Magazine, as well as prior rankings on Forbes Best Startup
Employers list – the team expects big things for CoreX in the
coming year.
Since 2015, NewSpring Holdings has codified growth in the lower
middle market through investments in tech-enabled services sectors.
The team has executed nearly 50 acquisitions, creating eight
integrated platform companies. By partnering with skilled operators
and experienced management teams with domain expertise in highly
fragmented markets, NewSpring Holdings helps lower-middle-market
companies scale through investments in infrastructure, operational
rigor, and strategic M&A. This method, known as the Industry
Leader Approach, is a hallmark of the NewSpring Holdings
platform build strategy.
"We've been targeting ServiceNow's vibrant ecosystem for our
next platform build because we believe that their hundreds of
skilled partners—whose work has underpinned ~25% annual market
growth in recent years—still have untapped potential," says
Daniel Salvato, Principal at
NewSpring Holdings. "That's why we're excited to partner with
CoreX to help unlock this exceptional growth opportunity. From our
first conversations with the management team, it was clear that
their vision of the market need in mission-critical workflows like
ERP Modernization and Source-to-Pay would allow us to create value
and drive growth for ServiceNow and its customers as a leading-edge
partner. Furthermore, their pedigree of past experiences and proven
track records give us the confidence to partner with them as
Industry Leaders in building a differentiated business with
best-in-class talent and capabilities across the Now
Platform."
On the cusp of accelerated growth, Wright underscored the team
dynamics and aligned vision as the biggest factor for him. "I am
truly honored to be part of an amazing founding team that is
committed to excellence and diversity and passionate about
transforming the way organizations operate. This team's knowledge
and deep functional and industry experience allow CoreX to be at
the forefront of innovation and delivery excellence, and that is
why I am incredibly excited to lead this dynamic team into an
exciting future."
Business owners or ServiceNow ecosystem talent interested in
learning more about CoreX opportunities or getting an invite to the
team's Tuesday launch party can contact hello@corexcorp.com.
About CoreX
CoreX is the first and only consultancy 100% exclusively focused
on connecting and streamlining ServiceNow Customers' core Business
Operations, Finance, Procurement, Supply Chain and ERP
transformation processes.
Built on decades of Industry and ServiceNow know-how, CoreX is
on a mission to fix siloed, manual processes, empowering our
customers and bringing the ServiceNow connected, workflow-driven
promise to the Finance, Procurement and Supply Chain functions.
With proven success connecting the critical OCM and strategy
elements needed to succeed in transforming core business operations
– and the ServiceNow technology chops to ensure that vision is
rolled out in the right way. Learn more at www.corexcorp.com or
connect with us at hello@corexcorp.com
About NewSpring Holdings
NewSpring Holdings, NewSpring's majority investment strategy
focused on control buyouts and sector-specific platform builds,
brings a wealth of knowledge, experience, and resources to take
profitable, growing companies to the next level through
acquisitions and proven organic methodologies. Founded in 1999,
NewSpring partners with the innovators, makers, and operators of
high-performing companies in dynamic industries to catalyze new
growth and seize compelling opportunities. Having completed over
250 investments, the Firm manages $3.5
billion across five distinct strategies covering the
spectrum from growth equity and control buyouts to mezzanine debt.
Partnering with management teams to help develop their businesses
into market leaders, NewSpring identifies opportunities and builds
relationships using its network of industry leaders and influencers
across a wide array of operational areas and industries. Visit
NewSpring at www.newspringcapital.com.
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SOURCE CoreX