Coupa acquired Cirtuo, further accelerating Coupa's autonomous spend management vision and underscoring Coupa's commitment to developing AI-powered solutions.
"Transforming the end-to-end procurement process requires reimagining technology's role. We're investing heavily in GenAI to automate routine tasks, enhance strategic decision-making, and bring autonomous procurement to market," says Salvatore Lombardo, Coupa chief product and technology officer. "With the acquisition of Cirtuo, we strengthen our AI-native solutions and fill a critical gap in Coupa's strategic sourcing suite. This allows us to deliver a comprehensive category management solution where customers can create margin impact, especially in direct spend categories, by integrating analysis, strategy, and execution in one place."
"Cirtuo empowers procurement teams to build AI-guided, insight-driven strategies that align with business priorities and flow directly into tactical activities resulting in seamless, closed-loop procurement processes," says Drasko Jelavic, Cirtuo CEO. "We're excited to join Coupa as businesses embrace digital transformation in the AI era."
Key takeaways:
· By integrating Cirtuo's AI-enabled category management capabilities with Coupa's Total Spend Management platform, Coupa is set to deliver a comprehensive solution that seamlessly translates robust, data-driven strategies into sourcing pipelines, supplier actions, and savings realization. This includes supporting the full supplier strategy lifecycle, from strategy planning, to execution, to monitoring, all within a unified system.
· Key solutions include:
Guided category strategy: Guides users with an interview-style approach to craft holistic category strategies without robust training enabling in-depth spend analysis and actionable insights for data-driven category management.
Guided supplier strategy: Leverage supplier relationships by connecting the dots between category and supplier strategies. Develop strategies that align seamlessly with business requirements and extend the focus on relationship metrics.
Initiative management and value tracking: Manage your strategic savings, supplier, and risk mitigation initiatives end-to-end with clearly defined tasks, owners, milestones, and timelines to easily demonstrate impact on savings and value tracking.
