Suplari: the AI spend insight company acquired by Microsoft

As Microsoft announced it acquired the leading provider of supplier spend insights, Suplari we take a look into the company and its success in the industry

This acquisition comes at a time when Microsoft seem to be grabbing businesses by the handful. Recently, the technology company has acquired RiskIQ, ReFirm Labs and CloudKnox. Its most recent acquisition of Suplari will strengthen business insight for finance and procurement leaders.

Discussing the acquisition Nikesh Parekh, CEO of Suplari said, “We are excited for the new road ahead with Microsoft.  I am ecstatic to report that 100% of our team is continuing to work together to extend Suplari’s Spend Intelligence Cloud at Microsoft.”

Suplari is a leading provider of supplier spend insights that enable companies to proactively manage supplier spend. The company achieve this by transforming data from multiple sources, such as contracts, purchase orders, invoices, expenses and supplier risk into valuable insight.

Empowering teams to make better purchasing decisions

Founded by Jeff Gerber, Brian White and Nikesh Parekh in 2016, Suplari was born out of Gerber’s realisation that there was an opportunity to move data to the cloud and use artificial intelligence (AI) and machine learning to identify patterns.

Now, the company manages more than $180 billion in spend across millions of transactions per month for global corporations.

Parekh spoke about founding the company, he said: “In 2016, we started Suplari with the vision of empowering teams to make better and faster purchasing decisions by leveraging AI-driven insights from the data trapped in antiquated enterprise systems – ERP’s, Source to Pay systems, budgets, contracts, T&E systems, and corporate cards. We built an awesome team and product that is second to none in the category.”

Utilising machine learning and artificial intelligence

The company delivers the first-ever Spend Intelligence Cloud that enables finance, procurement and business leaders to continuously and collaboratively optimise sourcing, forecasting, risk and compliance.

Built upon advanced machine learning and AI, Suplari helps mid-size and large enterprises achieve spend agility by automating data, spend analytics, insights and actions. This is to help companies predict and manage costs, cash flow and investments across the enterprise. 

Its cloud-based consumer-grade software is quick to deploy and delivers value in less than 90 days.

Providing a solution to Procurement and Finance teams

Suplari’s platform was designed to overcome a common problem in Procurement and Finance teams. 

Data in these teams are siloed and disorganised. With its platform, Suplari has solved this problem allowing Procurement and Finance teams who utilise this solution to have access to the same cleansed, normalised, decision-ready information.

By utilising AI technology, Suplari automates the analysis of current data and historical patterns to predict the best spend management actions moving forward.

The Suplari Spend Intelligence Cloud, through the Microsoft acquisition, will help customers maximize financial visibility by using AI to automate the analysis of current data and historical patterns from multiple data sources


Featured Articles

Securing the future of IoT with AI biometric technology

The world needs an IoT future, so It’s time to forget your password – for good. A new breed of AI-powered biometric security measures is required

EU networks plan to build a foundation for trustworthy AI

Artificial intelligence technologies are in their infancy, but commercial stakeholders must build them on foundations of trust, say research experts

ICYMI: Power users distrust AI and new National Robotarium

A week is a long time in artificial intelligence, so here’s a round-up of AI Magazine articles that have been starting conversations around the world

Reducing the impact of ecommerce with AI and ML

AI Applications

Now is the time for intelligent products and services

AI Strategy

The eyes of a machine: automation with vision

Machine Learning