Spendesk Acquires Okko to Fully Integrate Procurement and Spend Management

The complete spend management platform, Spendesk acquires Okko, a French procurement company. By integrating the technology and resources of Okko, Spendesk becomes the first European solution to fully integrate procurement and spend management for mid-sized businesses.

Okko’s procurement platform helps businesses to 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 finance teams, legal teams, IT departments and more to benefit from a collaborative, automated and frictionless process to fully control spend even before it happens.

With a shared vision of putting employees at the heart of their tools, the acquisition of Okko 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 clients’ 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 spend, 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.”

Aurore Teboul, Indirect Procurement Buyer at Payfit, adds: “We’re very pleased to see Okko join Spendesk! For PayFit, a long-standing user of both solutions, this acquisition is synonymous with the mutualization of purchasing and expense management. Okko has particularly helped us to coordinate our stakeholders across legal, finance, and compliance, and to improve our communication. It reinforces the visibility given by Spendesk in terms of expense tracking, and ensures that no deadline is missed, as all of our suppliers are now centralised on the same platform.”