Meet AI in Spend Analytics

Artificial intelligence (AI) comes in many forms (for a complete history of AI in procurement see our recently published autogmentation series) and despite being a consistent ‘hot topic’ for well over a decade now, continues to grow and evolve each year in the procurement industry.

In this series of articles we explore the current state of AI in procurement technology. We examined Supplier Management and Risk Management recently and today are looking at Spend Analytics. We give an overview of its capabilities, a high-level market outline and an introduction to the emerging field of GenAI.

The high-level market overview uses data from a recent Spend Matters vendor survey. The respondents of the survey can be found below:

List of all providers that answered our survey:

Acquire Insights, Agiloft, Airbase, apexanalytix, Archlet AG, Arkestro, askLio, Basware, CategoryAI Inc., Certa, Corcentric, Coupa, Creactives SpA, Deployed, ebidtopay, Evisort, Inc., Fairmarkit, Forestreet, GEP, Globality, Interos, Ivalua, LevaData, Malbek, Market Dojo, Mithra Ai Solutions, Opstream, Oracle, ORO Labs, Photon Commerce, Prevalent, Inc., ProcureVue, Requis Inc, Rosslyn, SAP, Sievo, Simfoni, Sirion, SpendHQ, Spendkey Limited, Spendscape by McKinsey, Suplari, Tradeshift, Vroozi, Yooz, Zapro AI

List of all providers that provided inputs on AI in Spend Analytics:

Acquire Insights, Arkestro, askLio, Basware, CategoryAI Inc., Corcentric, Coupa, Creactives SpA, Fairmarkit, GEP, LevaData, Mithra AI Solutions, Oracle, Photon Commerce, ProcureVue, Requis Inc., Rosslyn, SAP, Sievo, Simfoni, SpendHQ, Spendkey Limited, Spendscape by McKinsey, Suplari, Tradeshift, Zapro AI