Spendesk Acquires Okko: Revolutionizing Spend Management and Procurement

Spendesk, the Paris-based spend management platform, has announced its acquisition of Okko, a provider of a comprehensive "intake-to-procure-to-pay solution" for digitizing procurement workflows.

Okko's offering includes features for vendor and contract renewal management, onboarding, and collaborative purchase requests, aimed at streamlining and digitizing the procurement process for businesses.

With this acquisition, Spendesk plans to integrate Okko's capabilities within its platform, expanding its range of features to support mid-sized businesses with both spend management and procurement needs.

"While finance teams already use spend management features such as payment methods and budget controls for purchase orders, the procurement process is more laborious," explains Rodolphe Ardant, co-founder and CEO of Spendesk. "Now, we can help clients to increase the efficiency of these complex processes."

Spendesk, valued at over €1 billion following its €100 million Series C round in 2022, aims to become the first company in Europe to offer a combined solution for spend management and procurement.

Streamlining Procurement Workflows

By integrating Okko's procurement capabilities, Spendesk seeks to revolutionize procurement workflows for businesses. From vendor and contract management to collaborative purchase requests, the combined solution will offer enhanced visibility, efficiency, and cost control.

Empowering Mid-Sized Businesses

Mid-sized businesses will benefit from a comprehensive solution that addresses both spend management and procurement needs. Spendesk's integrated platform will provide a seamless experience, enabling businesses to optimize their financial processes and drive growth.

Stay updated on the latest developments as Spendesk integrates Okko's procurement solution into its platform, redefining spend management for businesses.