Top 10: Procurement Orchestration Platforms

With companies constantly striving for increased efficiency, transparency and cost-effectiveness, the role of procurement orchestration is now more pivotal than ever before.

It serves as the backbone of streamlined operations through its integration of functions such as supplier and contract management and analytics into a cohesive system.

These systems are making an impression across the industry and should most definitely be on the radar of the procurement function.

Here, Procurement Magazine takes a look at the top 10 platforms that you should know about – all recently established but making an impression in the industry today.

10. Procurify

Revenue: US$42m
Employees: 200
CEO: Aman Mann
Founded: 2011​ 

As a cloud-based procurement software solution, Procurify is designed to help the procurement process become more streamlined, from requisition to payment.

Procurify tracks spending in real-time from a centralised platform where businesses can manage their entire procurement lifecycle and automate key tasks.

It can take the pressure off managing manual activities with tools such as approval workflows, purchase order creation, vendor management, budget tracking, inventory management and more.

As well as its customisable workflows, reporting and analytics, it offers better spend visibility and integrates seamlessly with other accounting and ERP systems, making it a strong tool.

9. Arkestro

Revenue: US$15m
Employees: 102
CEO: Neil Lustig
Founded: 2017

Through its ability to leverage predictive analytics to enhance procurement, Arkestro offers something unique with its ability to pre-embed outcomes in any system or process.

This tool helps businesses anticipate market changes and make proactive decisions.

Predictive analytics for procurement is already a vital tool. Alongside supplier performance insights, Arkestro ensures organisations can achieve optimal procurement outcomes by staying ahead of market trends.

8. Ramp

Revenue: US$295m
Employees: 725
CEO: Eric Glyman
Founded: 2019

Self-described as the ultimate platform for modern finance teams, Ramp is designed to simplify expense management with an array of tools offering real-time insights and automation.

It offers users automated expense reporting and real-time spend analysis, along with budgeting and forecasting tools, all of which help businesses to maintain financial control.

Ramp also automates and streamlines procurement workflows and vendor management so businesses can control spend before it happens, with initial projects such as customised intake forms, flexible approvals, purchase order management and AI-powered vendor management.

7. Tonkean

Revenue: US$8.4m
Employees: 68
CEO: Sagi Eliyahu
Founded: 2015

Tonkean is an AI-powered process orchestration platform that works behind the scenes to help procurement teams build processes ‘people actually follow.’

The business looks to modernise and unify internal procurement processes, which are typically complex and difficult to follow – with the objective of creating processes that emulate the consumer experience.

Tonkean's AI-powered solutions empower shared-service teams to improve user adoption – including that of P2P platforms like Coupa – and increase process efficiency, all while reducing the burdens of change management.

6. Tipalti

Revenue: US$68.1m
Employees: 1,100
CEO: Chen Amit
Founded: 2010

Tipalti is renowned for its end-to-end AP automation capabilities, handling everything from invoice processing to global payments.

It features intuitive procurement intake forms to capture purchase intent early, rule-based approval flows for spending control and streamlined purchase and supplier onboarding processes.

All this enhances control over spend management and includes the automatic generation of purchase orders (PO) synced with ERP systems upon approval.

5. SpendHQ

Revenue: US$25M
Employees: 124
CEO: Scott Macfee
Founded: 2012

Founded by procurement experts with a mission to optimise procurement visibility and reporting, SpendHQ helps procurement teams turn vision and strategy into clearly-defined action.

The company’s innovative solution combines spend intelligence with performance management to build its clients’ pipelines of sourcing projects and activities.

By centralising accurate data on spend and procurement performance, SpendHQ makes it easy to see and capitalise on optimisation opportunities across the business.

4. Airbase

Revenue: US$72.5m
Employees: 456
CEO: Thejo Kote
Founded: 2017

Airbase offers an all-in-one spend management platform designed to provide finance teams with control, visibility and automation over their company's spending.

It caters specifically to mid-sized companies – those employing between 100 and 5,000 people. 

The platform enables finance teams to streamline processes related to workflows, payments and accounting, particularly focusing on non-payroll expenditures. It integrates with other business systems to facilitate seamless data management and risk mitigation across departments.

3. ORO Labs

Revenue: Unknown
Employees: 90
CEO: Sudhir Bhojwani
Founded: 2020

Through the use of AI, ORO Labs drives innovation, enhancing supplier relationships and optimising spend management through intelligent automation.

The platform provides AI-powered supplier recommendations, spend analysis and seamless integration with existing procurement systems, ensuring businesses can make data-driven decisions to maximise their procurement efficiency.

Features includes its demand to pay, allowing users to create tailored and intuitive experiences for their organisation to navigate procurement and adjacent processes with speed, compliance and intelligence. long the ability to streamline the supplier experience with faster supplier onboarding, diversity, sustainability and on-going risk assessment capabilities. As well as integrating third-party risk assessments and unique policies and procedures into procurement processes to achieve end-to-end visibility and compliant spending

2. Focal Point

Revenue: US$19m
Employees: 20
CEO: Anders Lillevik
Founded: 2017

Focal Point, as described by its founder Anders Lillevik, is built by CPOs for CPOs.

Its main objective is to empower procurement leaders to shift their departments from pure cost centres to strategic contributors to the top and bottom line for their organisations.

The platform excels in providing a unified view of financial and operational data, helping businesses align their strategies by offering insights that drive informed decision-making.

Focal Point centralises data management and features advanced analytics and customisable dashboards, giving businesses the tools they need to monitor performance and make strategic adjustments.

1. ZIP

Revenue: US$86.5m
Employees: 300
CEO: Rujul Zaparde
Founded: 2020

ZIP stands out as a leading orchestration platform, known for its comprehensive approach to procurement and vendor management.

Founded in 2020, the company has enjoyed a rapid rise, gaining significant market share and an impressive customer base.

Built on the core product of a streamlined procurement solution that serves as a "single front door" for employees to initiate and complete purchase requests and vendor interactions, ZIP constantly evolves with the modern procurement landscape.

It has introduced significant AI enhancements aimed at transforming procurement operations and providing better control over spending.

ZIP also introduced the world's first Orchestration Library, a comprehensive resource offering access to an extensive collection of workflow templates.

The library leverages insights from ZIP’s advisory team and its 350+ customers, providing more than 100 pre-built workflows by the end of this year.

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