Coupa Inspire: Jamil Syrio, CPO at XP Investimentos

As XP Investimentos marks 25 years since its founding as a financial education platform, CPO Jamil Syrio reflects on a procurement function that has scaled alongside the business, evolving from brokerage to full-service banking.

Talking at Coupa Inspire, Jamil explains how Coupa's integrated platform now manages over 99% of XP's spend, providing the visibility needed to navigate a pandemic, wars and political upheaval without losing control of costs.

He also details a procurement operation running on more than six AI agents, handling everything from supplier risk comparisons to contract analysis and accounts payable validation.

For Jamil, deploying agents is no longer the differentiator. What matters now is strategy, and the measurable impact procurement delivers to the bottom line.

Tell us more about XP. What's the background? What's your history?

We turned 25 years old yesterday. We started with financial education in Brazil. After that, we became a brokerage company and then added some financial services to our platform, and now we are a 360 bank in Brazil.

How did Coupa help you fight inflation and keep spending under control?

For us, Coupa is a very open platform — a very integrated platform with our systems — and it helps us to manage all the spend that we have. Today, we manage over 99% of XP's spend. During these five years, we had a pandemic, we had wars, we had some political discussions in Brazil and the world, and Coupa gave us all the data and provided all the tools to manage and to create different ways to go.

On the ground, how are you actually using AI-driven insights?

Today, we have probably more than six agents. We have an AI agent to make some comparisons — financial comparisons and technical comparisons.

We have some metrics to evaluate how a supplier compares with another supplier, what the risk is, and we have some agents to do the contract management and comparisons across different versions of agreements, saying, ‘This is very risky in comparison with the other supplier, so you need to get approval from your C-level,’ and so on.

This covers the entire process up to the point where accounts payable receives the invoice, makes some validations, integrates with the purchase order, and provides all the information and data for accounts payable to make the payments. We can build agents today to negotiate.

We can build agents to make evaluations. That is standard; there are no secrets to doing that. What we need to focus on is the strategy and how much impact we can deliver to the bottom line — for our investors and for our executive committee.