Investment firm Vista Equity Partners acquired procurement software company Jaggaer.
“This new partnership with Vista underscores Jaggaer’s strong momentum and the compelling value our intelligent software delivers by helping our customers manage and automate complex processes while enabling a highly resilient, responsible and integrated supplier base,” Jaggaer CEO Andy Hovancik said in a Tuesday (Aug. 13) news release.
Terms of the deal were not disclosed.
“Jaggaer provides configurable source-to-pay and supplier collaboration software for direct and indirect procurement processes through a single, unified platform,” the release said. Its artificial intelligence-enabled solutions “help optimize and automate sourcing, spend management, contracting, eProcurement, invoicing and supply chain visibility.”
Earlier this summer, Nitin Upadhyay, chief data and innovation officer at the global FinTech RobobAI, discussed with PYMNTS the ways companies are using AI to manage their supply chains.
RobobAI’s approach to spend analysis and procurement optimization is gaining the notice of large enterprises seeking to enhance operational efficiency and reduce costs.
“The key business challenge we aimed to solve was to provide 360-degree visibility over the spend data of large organizations,” Upadhyay said in July. “By harnessing AI, RobobAI can rapidly consolidate, classify and categorize vast amounts of spend data, offering insights that were previously difficult or impossible to obtain through traditional methods.”
Businesses are increasingly turning to advanced technologies such as AI, automation and blockchain to transform and modernize every part of their supply chain processes.
In a separate interview posted in July, PYMNTS spoke with Parvez Musani, senior vice president for end-to-end fulfillment for Walmart U.S. Omni Platforms and Tech, about the way AI, machine learning (ML) and advances in the accessibility and cost of computing power were improving the supply chain process.
“The culmination of those three things has revolutionized how we look at supply chain processes, all the way from demand forecasting to understanding at a granular level what customer needs are,” Musani said. “The integration of AI, ML and vast computing power, coupled with an abundance of data, has transformed our approach to demand forecasting, inventory flow and cost optimization.”
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