A new era for purchase and expense management
In April 2024, Spendesk, a leading platform for expense management, took a giant step forward by acquiring Okko, a French company specializing in procurement solutions.
This strategic acquisition allows Spendesk to offer a unique solution in Europe: the complete integration of purchase and expense management within a single platform.
With the evolving needs of businesses for digitizing and automating financial processes, this partnership presents a relevant response to the challenges of growing companies.
Why does the acquisition of Okko change everything?
Okko was already recognized as a reference in procurement management. Its technology allowed the digitization of the entire procurement process, from purchase requests to the management of purchase orders.
With this acquisition, Spendesk does more than just add a new feature to its offering: it transforms how SMEs manage their financial flows. By integrating Okko, Spendesk can now offer end-to-end management of the purchase-to-pay process.
The idea is simple: centralize everything on a single platform, enabling effective collaboration between departments.
For SMEs, this means a significant simplification. Finance, procurement, and operations teams can now work seamlessly without being hindered by disconnected processes. Leveraging Okko's procurement experience, Spendesk has positioned itself as a true all-in-one solution, covering every stage of the purchasing and spending cycle.
This centralization aims to reduce internal friction and enhance transparency in budget management.
New Features: A Fully Integrated Process
Since acquiring Okko, Spendesk has integrated several new features, including supplier management, collaborative purchase request management, and contract renewal tracking. These new capabilities allow for seamless management of purchases and expenses, integrating every step from the initial need to the validation of purchase orders.
One of the most compelling features for SMEs is the collaborative purchase request management. With just a few clicks, employees can submit a request, have it approved by their manager, and then turn it into an official order. The entire process is digitized, providing complete traceability and reducing the risk of errors or duplicate approvals. It's a time-saver and brings clarity that was often lacking for companies managing their procurement with outdated or fragmented systems.
Now, Spendesk and Okko together offer something unique to the European market: a unified platform that goes beyond simple expense management by digitizing the entire supply chain. Ultimately, this could transform the way businesses handle their purchasing, delivering productivity gains and better cost control.
Initial Assessment: what are the tangible benefits for businesses?
Simplified supply chain
Since the acquisition, several key advantages have emerged for Spendesk and Okko customers. The most noticeable is undoubtedly the simplification of the supply chain. Processes that previously required days of validation and approval are now reduced to just hours thanks to automation.
Closer collaboration
The aspect of team collaboration has also been enhanced. The platform connects procurement and finance teams, providing a shared, real-time view of committed expenses. For growing companies, this is a major opportunity to better manage their finances, avoid end-of-month surprises, and forecast their cash flow more confidently.
Controlled costs
Another tangible benefit is the reduction of hidden costs related to procurement processes. Before the integration, many SMEs struggled to get a complete view of recurring minor expenses, such as administrative fees, automatic contract renewals, etc. With Spendesk and Okko, every detail is visible, every contract is tracked, and every renewal is anticipated.
Blendy and Spendesk-Okko: a winning combination for your finances
At Blendy, English speaking French accountant, we see this integration as a true growth driver for our clients. SMEs and growing businesses using Pennylane can also benefit from the new features offered by Spendesk-Okko for an even more optimized purchasing and spending management process.
Our goal? To help our clients turn often time-consuming processes into strategic opportunities. The support we provide at Blendy, French CPA, involves fully integrating these new tools into their daily operations, optimizing every step from procurement to accounting.
Ready to Take It to the Next Level?
The acquisition of Okko by Spendesk marks a pivotal step for all SMEs looking to digitize and optimize their financial processes. With solutions like these, combined with Blendy's expertise, your purchases and expenses can finally be managed without stress and with true added value.
Contact us to learn how Blendy can help transform your financial management.
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With Blendy, English-speaking French CPA based in Paris France, take advantage of digital accounting to accelerate your financial process and develop your business.
Pennylane, Dex , QuickBooks and Stripe certified, we support digital, e-Commerce, IT services, SaaS companies in France and internationally.