Procure Ai

What Procure Ai does

Procure Ai is a Europe-based AI technology provider that reimagines enterprise procurement with its AI-native Procurement Automation Platform. The unique combination of AI agents, advanced predictive analytics, and autonomous execution enables enterprises to streamline operations, automate processes, reduce operational risks, and maximize cost savings. With an emphasis on seamless adoption and user-centric design, Procure Ai enables procurement to harness the full potential of AI to eliminate administrative tasks and reassign resources to strategic opportunities. The platform leverages cutting-edge AI models like Convolutional Neural Networks (CNNs), Long Short-Term Memory models (LSTMs), and Transformers to develop powerful AI agents and use cases, beyond just Large Language Models (LLMs) and chat interfaces. It connects procurement systems and enables the fast development of custom AI applications, fueled by internal and external data sources.

Products

• AI-native Procurement Automation PlatformA platform that augments and simplifies end-to-end procurement processes with agentic AI, offering 40+ AI agents and use cases for procurement. It connects procurement systems, leverages data, and enables custom AI application development.
• Unified Spend AnalyticsAI-powered data analytics, insights, and actions for procurement. It unifies data, creates insights with predictive analytics, and deploys AI agents to act on identified opportunities. Features include data ontology, 3rd party data enrichment, customizable dashboards, and AI Analytics Suite.
• Generative Intake ManagementCreates buying experiences that guide stakeholders across buying channels, workflows, and policies with dialog-based AI. It aims to drive compliance without policing, leverage existing suppliers, and combat maverick spend.
• Autonomous Sourcing & NegotiationsRuns sourcing events and negotiations on auto-pilot to create real savings from tactical and tail spend. It identifies suppliers, executes tactical tenders, and runs more negotiations to drive competitiveness and generate savings.
• Augmented Strategic SourcingEnables running simple and complex tenders across every category, weighing options with scenario analysis, and awarding with confidence.
• Intelligent Supplier ManagementDiscovers the true value of supplier relationships with harmonized profiles, simplified onboarding, and automated information management.
• Seamless Purchasing OperationsStreamlines purchasing operations with central buying desks and P2P automations to reassign resources to strategic opportunities.

Key capabilities

• 40+ AI agents and use cases for Procurement
• Strong foundation of data and AI models
• Fueled by internal & external data sources
• Pre-configured connectors and transformers for ERPs, eProcurement suites, and 3rd party data providers
• Generative AI
• Predictive analytics
• Autonomous execution
• AI-native Procurement Automation Platform
• Unified Spend Analytics
• Generative Intake Management
• Autonomous Sourcing & Negotiations
• Augmented Strategic Sourcing
• Intelligent Supplier Management
• Seamless Purchasing Operations
• Unified Data Ontology
• 3rd party data enrichment (Northdata, Ecovadis, Eurostat, Destatis)
• Customizable dashboards and Widget Gallery
• AI-powered 'Universal Search'
• Comprehensive AI Analytics with pre-built reports and no-code/low-code analytics
• Predictive analytics for opportunity detection
• Human in the Loop (HITL) designs and responsible AI principles
• Leverages CNNs, LSTMs, and Transformers
• Build or Bring Your Own AI (BYOAI) with integration to Copilot, ChatGPT, Claude, Gemini, Llama
• Guided Buying with chat-based AI Intake Agent
• Free text request agent with natural language processing
• Process compliance by design
• Generative SOW & RFP development with GenAI Scope Generator agent
• Automated tactical & tail spend sourcing
• Guided RFP development, execution & analysis
• Predictive supplier scouting
• AI Negotiation Cockpit
• Autonomous negotiations
• Customizable business logic and rules for AI agents
• Centralized Intake with dialog-based process
• Real-time catalog and marketplace checks
• Recommendation of preferred suppliers and existing contracts
• Integrated automation from intake to execution (P2P process)
• Automated negotiations for mid-to-low-value tenders
• Smart information provisioning for tender design
• Framework contract recommendations
• Integration with SAP ECC, SAP S/4, Ariba, Ivalua, Coupa, Jaggaer, WPS, Unite

Use cases

• Guided buying
• Intake management
• Spend analytics
• Tactical sourcing
• Supplier management
• Purchasing
• Streamlining operations
• Automating processes
• Reducing operational risks
• Maximizing cost savings
• Eliminating administrative tasks
• Reassigning resources to strategic opportunities
• Tail spend optimization
• Bringing visibility, competition, and automation to tail spend transactions
• Unifying and classifying spend data
• Leveraging AI-powered analytics to expose tail spend opportunities
• Defining preferred suppliers, panels, and commercial rules in the platform
• Guiding stakeholders toward existing channels, preferred suppliers, and active contracts
• Running automated tactical sourcing events and autonomous negotiations on tail spend requests
• Streamlining onboarding, compliance checks, and offboarding for suppliers
• Automating transactional layer end-to-end (requisitions, approvals, order confirmations, goods receipts, invoice matching)
• Orchestrating the Source-to-Pay process
• Creating buying experiences that guide and delight stakeholders
• Running sourcing events and negotiations on auto-pilot
• Running simple and complex tenders
• Discovering true value of supplier relationships
• Streamlining purchasing operations with central buying desks and P2P automations
• Centralizing, harmonizing, and contextualizing data in a unified data store
• Enriching internal data with 3rd party category intelligence, supplier scores, ESG or risk information
• Monitoring supplier performance
• Tracking operational risks
• Optimizing purchasing compliance and efficiency
• Performing in-depth analysis and unlocking deeper insights
• Generating savings and efficiencies through autonomous execution
• Reducing maverick spend
• Increasing policy compliance and buying efficiency
• Structuring free text requisitions with natural language processing
• Developing clear project specifications and scope descriptions based on internal standards
• Automating manual effort in mid-to-low-value tenders
• Optimizing tender design based on past outcomes and supplier behavior
• Supporting better use of existing agreements to streamline sourcing

AI approach

Procure Ai offers an AI-native Procurement Automation Platform that uses AI agents, advanced predictive analytics, and autonomous execution to streamline procurement processes. The platform leverages cutting-edge AI models like Convolutional Neural Networks (CNNs), Long Short-Term Memory models (LSTMs), and Transformers, in addition to Generative AI (LLMs). It is designed to connect procurement systems, enable custom AI applications, and is fueled by internal and external data sources. The company emphasizes responsible AI with human-in-the-loop designs.

Tech named: AI agents, predictive analytics, autonomous execution, Generative AI, LLMs, Convolutional Neural Networks (CNNs), Long Short-Term Memory models (LSTMs), Transformers, Copilot, ChatGPT, Claude, Gemini, Llama, natural language processing

Industries served

• Manufacturing
• Energy
• Utilities
• Consumer Products
• Public Sector
• Global Organizations

What it says sets it apart

• AI-native Procurement Automation Platform
• Unique combination of AI agents, advanced predictive analytics, and autonomous execution
• 40+ AI agents and use cases across the end-to-end procurement process
• Built on a strong foundation of cutting-edge AI models and a robust data model designed for Procurement
• Connects procurement systems and enables fast development of custom AI applications
• Fueled by internal & external data sources with pre-configured connectors
• Emphasis on seamless adoption and user-centric design
• Leverages advanced AI models beyond GenAI (CNNs, LSTMs, Transformers)
• Offers Human in the Loop (HITL) designs and responsible AI principles for control and trust
• Supports building or bringing your own AI (BYOAI) with integration to major model providers
• Focus on creating value from tail spend through automation and competition
• Integrated automation from intake to execution for the Source-to-Pay process
• Unified data ontology for high-quality, reliable data foundation
• Comprehensive AI Analytics for all users, including no-code/low-code options
• Autonomous opportunities execution connecting intelligent analytics with autonomous execution
• Customizable business logic and rules for AI agents
• Proven results with customers like EnBW and Kärcher, demonstrating significant cost savings and efficiency gains

Funding rounds we track

From the AI funding tracker — rounds as reported by the linked publications.