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Spendesk acquires Okko to integrate procurement and spend management

By Gloria Methri

April 10, 2024

  • Acquisition News
  • Business Spend Management
  • Company Spending
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Spendesk, Spend Management, Expense Management, Okko, FinTech, France, EuropeSpendesk, the complete spend management platform, has acquired French procurement company Okko. By integrating Okko’s technology and resources, Spendesk has become the first European solution to integrate procurement and spend management for mid-sized businesses fully.

Okko’s procurement platform helps businesses 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 businesses to benefit from a collaborative, automated and frictionless process to control spending even before it happens fully.

The acquisition 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 client’s 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 spending, 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.”

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