How Spendesk's Okko Purchase Will Make Procurement Smarter

The spend management platform says it has acquired Okko, the French procurement company, to integrate procurement and spend management. Putting more focus on smarter end-to-end purchasing experience, from procure to pay. Believing that spending at work should be controlled, efficient, and easy.

Okko brings procurement prowess to Spendesk

As a procurement company, Okko has been a pioneer in the modern space. The company helps businesses digitise the procurement process, from the initial request to the finalised purchase order. It also brings a collaborative, automated and frictionless process to fully control spend even before it happens.

With this acquisition, Spendesk is the first European solution to fully integrate procurement and spend management for businesses of up to 1,000 employees.

Rodolphe Ardant, Co-founder and CEO of Spendesk says: "Spendesk has consistently been at the forefront of innovation in the spend management space.

"The acquisition of Okko reflects Spendesk's dedication to staying ahead of the curve and our ambition to liberate every part of our clients' business with smarter, agile spending solutions."

Why focus on procurement?

Spendesk says that procurement is a natural extension of spend management, as many companies have complex and long-lasting supplier relationships. Expressing a need for comprehensive solutions to the common issues that arise.

Over the past few years, Spendesk says hundreds of its customers have highlighted the need for more support in their procurement processes.

Julien Chriqui, Co-founder and CEO of Okko, says: "Okko's mission revolves around putting employees and a collaborative approach at the heart of the procurement process to help companies decrease risk, control spend, and save precious time. The union of Okko with Spendesk brings together two dynamic teams, both with a shared commitment to client success. Spendesk’s clients can now access an even broader range of features as they seek to streamline their spend management processes."

What’s next for Spendesk and Okko?

With Okko's procurement know-how and Spendesk spend management expertise, the pair are now united by a vision of collaborative innovation that's easily adopted by employees – creating a seamless and delightful experience for everyone.

Spendesk development teams are already integrating Okko into its platform and refining purchase order tools. The goal is to deliver a streamlined end-to-end procure-to-pay solution, tailored to meet companies needs.

Aurore Teboul, Indirect Procurement Buyer at Payfit, says they are pleased to see Okko join Spendesk, as a long-standing user of both solutions: "This acquisition is synonymous with the mutualisation of purchasing and expense management.

"Okko has particularly helped us to coordinate our stakeholders across legal, finance, and compliance, and to improve our communication. It reinforces the visibility given by Spendesk in terms of expense tracking, and ensures that no deadline is missed, as all of our suppliers are now centralised on the same platform."

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