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Suplari Debuts Procurement Planning Product

Suplari Debuts Procurement Planning Product

May 25, 2021 at 01:10AM
by PYMNTS

Spend agility company Suplari has rolled out a new procurement planning product called Agile Performance Management, a press release said Monday (May 24).

It will offer 360-degree procurement planning of the spend, purchase order, suppliers, risk management and diversity initiatives necessary to grow savings and improve financial performance.

The program offers more visibility and cross-functional accountability for strategic goals built on spend, along with automated services, results tracking, contract intelligence and more.

The release said Suplari’s new solution allows leaders to “Plan, Execute, and Measure their initiatives.” To plan, Agile Performance Management allows leaders to set goals and have a new dashboard to see more visibility and boost accountability.

For execution, Agile Performance Management allows for automation. User can receive alerts and notifications as well as have better participation making for faster decision making.

And in terms of measurement, Agile Performance Management will allow for dial-in calculation formulas for different savings types and a savings forecast tool with realized savings capture that occurs as the spend happens.

“The rapid pace of business transformation since the beginning of the pandemic means that procurement and finance leaders need modern performance tools to hold company-wide teams accountable,” said Suplari CEO Nikesh Parekh. “Using clean data from all systems and AI-based [artificial intelligence-based] insights, Agile Performance Management automates planning, analyzing, and delivering results across the organization.”

KarbonPay Founder Brad Price spoke to PYMNTS recently about the ways payroll is changing. Data is often at the center of that, with pain points leading up to initiating an international transaction, with varying tax codes from place to place.

Price said his company was working with Expensify, the expense management portal, to bring together payroll and expense management in a way that will make things more seamless and accurate in the ways that employees get paid. Price said that as companies add more people, it’s important to get approvals and verifications done.