Together with Dynamics 365, the Suplari Spend Intelligence Cloud will help customers maximize financial visibility by using AI to automate the analysis of current data and historical patterns from multiple data sources. Suplari currently helps mid-size and large enterprises continuously manage costs and cash flow using unified, cleansed data, automated insights, and predictive actions. By bringing Suplari’s spend intelligence insights together with the existing Microsoft Dynamics 365 capabilities, Microsoft is further helping organizations become insight-driven and enabling business leaders to take strategic action. Today, Microsoft is announcing the acquisition of Suplari, a leading provider of supplier spend insights that enable companies to proactively manage supplier spend by transforming data from multiple sources, such as contracts, purchase orders, invoices, expenses, and supplier risk, into valuable insight.
But this has started to change, and Gartner* forecasts that by 2022, 50 percent of all legacy spend analysis software will be replaced by AI-powered, cloud-based solutions, and by 2024, 50 percent of organizations will have near-real-time procurement analytics.
For most companies, supplier spend represents a significant percentage of their revenue, yet most do not feel they are managing it strategically. They want to be able to bring down costs and manage their spend. With many companies facing rising costs and deteriorating margins, access to actionable insights for finance and procurement leaders is critical. This move to a new breed of “data-first” applications, which we introduced for other business processes through apps like Microsoft Dynamics 365 Customer Insights, is now coming to the supplier spend domain.įor most companies their financial data is locked in silos, making in-depth analysis difficult. In a world where efficiency is more important than ever, companies are turning to new ways to unlock actionable insights to improve their businesses from the massive amounts of data they manage across their many data silos.
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