Flush with cash following year-after-year of massive growth, Microsoft is on a summer spending spree. During July, the company has already bolstered its cybersecurity divisions with the purchase of RiskIQ, and also acquired CloudKnox Security. In the latest deal, Microsoft is announcing it has bought Suplari.
If you are unfamiliar with the name, Suplari is a leader in AI-automation as part of the “Spend Agility Revolution”. The company provides solutions for organizations to streamline costs through actionable insights provided by AI. This is achieved by working towards creating an efficient flow of financial data.
In its announcement, Microsoft points out many organizations host their financial data in silo, which makes accessing data difficult. Making decisions based on financial data is not always easy, even if businesses understand the important of leveraging that information. By using Suplari alongside Microsoft Dynamics 365, the company says customers will have a solution to overcome the limitations.
Dynamics 365 will enhance Suplari's Spend Intelligence Cloud solution, but Microsoft says existing customers will not see any changes to the platform. In other words, all changes will happen behind the scenes.
So, Suplari will get better, but what about Microsoft? Well, the company will be able to bake actional insights for financial data into its products. Specifically, the company cites the following benefits for its customers:
- “Making comprehensive enterprise spend data and insights accessible to all. Customers can have a shared view of supplier spend everyone can use regardless of skill level. The simple, intuitive, and interactive user experience provides a single source of truth and insights for all users.
- Unlocking new financial insights to help with strategic procurement decisions. Microsoft is committed to helping customers transform data into immediate action and now with Suplari's AI-powered library of over 175 insights, teams are empowered to manage demand, spend, and cash flow on a daily basis.
- Getting up and running with predictive insights in weeks, not months. Suplari's data requirements are simple and flexible. Quickly access clean spend and operational data that includes your internal data sets as well as your external supplier data. Make better decisions faster, leading to stronger financial performance with measurable outcomes.”
Tip of the day:
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