Launch year: 2016
Country: United States
Categories:
Funds raised: $18.6 million

Suplari, AI-Automated Analytics for Procurement and Finance

Concept description

Suplari: pioneering Spend Accountability & Financial Performance System.

  • Suplari uses machine learning and predictive analytics to automatically integrate, normalize, and categorize procurement data (e.g. contracts, spend, invoices, usage, etc). And then leverages proprietary algorithms to locate cost or risk reduction opportunities.
  • Leaders in various businesses rely on Suplari, including Finance, Operations, Procurement, and IT. They can gain better spend visibility and operational agility to optimize costs, assure compliance, and reduce risk and fraud.
  • People using Suplari are delighted with their modern and fluid user experience, advanced analytics, and AI-persistent insights algorithm. This algorithm could consolidate vendors, aggregate demand, negotiate contracts, and manage supplier performance.
  • Suplari has more than 20 customers, from large Fortune 500 to mid-size enterprises, including Nordstrom, Hulu, Workday, New York Public Library, and etc..

Value proposition

Suplari developed a comprehensive library of Insights Applications. They continuously analyze and monitor enterprise data. They also proactively detecting opportunities to enhance IT, financial health, and business-critical key performance indicators. This library, which includes more than 60 insights, allows customers to better manage supplier performance, budgets and forecasting, contract renewals, purchasing card, travel and expense compliance, and more.

Suplari helped business leaders obtain the data, insights, and KPIs to proactively manage their priorities and initiatives, including these and many more:

  • Cost-cutting and gaining control of tail spend
  • Risk, fraud and compliance audits
  • Mergers and acquisitions
  • AI innovation in procurement, finance, and operations
  • Improving organizational productivity

Illustration (Video)

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