Spendesk Acquires Okko To Fully Integrate Procurement And Spend Management
Paris (BUSINESS WIRE) - Spendesk, the complete spend management platform, today announces its acquisition of French procurement company Okko. By integrating the technology and resources of Okko, Spendesk becomes the first European solution to fully integrate procurement and spend management for mid-sized businesses.
Okko’s procurement platform helps businesses to digitise the procurement process. From the initial need to the final purchase order, Okko’s user-friendly approach provides the complete workflow including capabilities like vendor management, collaborative purchase requests and contract renewal management. The resulting 'intake-to-procure-to-pay’ solution enables finance teams, legal teams, IT departments and more to benefit from a collaborative, automated and frictionless process to fully control spend even before it happens.
With a shared vision of putting employees at the heart of their tools, the acquisition of Okko represents an important development in Spendesk's strategy to integrate robust, streamlined procurement services and broaden its scope to provide solutions that meet the more complex needs of larger companies.
Rodolphe Ardant, co-founder and CEO of Spendesk, said: "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.
"While finance teams already use spend management features such as payment methods and budget controls for purchase orders, the procurement process is more laborious. Poor workflows and tools lead to a lack of visibility, additional workloads, and cost control difficulties for all teams involved. Now, we can help clients to increase the efficiency of these complex processes," Ardant continued.
Julien Chriqui, co-founder and CEO of Okko, said: "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."
Aurore Teboul, Indirect Procurement Buyer at PayFit, adds: "We're very pleased to see Okko join Spendesk! For PayFit, a long-standing user of both solutions, this acquisition is synonymous with the mutualization 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."
About Spendesk
Spendesk is the complete spend management platform that saves businesses with 50 to 1000 employees time and money by connecting company spend. With the integration of everyday technologies, built-in automation, and an easily adopted approval process, Spendesk’s single solution makes agile, efficient spending easy for employees and gives finance leaders complete visibility across entire company spend. Trusted by thousands of businesses from start-ups to established brands, and with offices in Paris, London, Berlin and Madrid, Spendesk puts community at the heart of spend management. Spendesk-backed CFO Connect is the fastest-growing global community of finance leaders with more than 12,000 members. For more information, visit: https://www.spendesk.com/en/press/
About Okko
Okko was co-founded by Julien Chriqui (CEO) and Robin Brissaud (CTO) within the startup studio Hexa. Okko is a SaaS that helps companies better orchestrate their procurement process and simplify vendor onboarding. Okko’s specificity is that it puts employees at the heart of the procurement process, thus helping companies decrease risk, control spend and save time. For more information, visit: https://www.getokko.app/
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