Source: businesswire
ORO Labs, the market’s leading enterprise-grade intake management and procurement orchestration platform, has acquired ProcureTech, a digital accelerator focused on advancing the future of procurement. The strategic acquisition will propel ORO’s global growth and strengthen its relationships with consulting and integration partners, unlocking new opportunities for co-innovation and procurement value creation.
“This acquisition marks a defining moment in procurement digitization. The market is flooded with AI and tech innovation, yet enterprises continue to leave significant value on the table,” said Sudhir Bhojwani, CEO and co-founder of ORO Labs. “Orchestration has emerged as the answer to procurement’s long-standing challenges, enabling teams to finally break free from the inefficiencies that have held them back for years. Having seen what’s possible, CPOs are moving fast to explore new use cases and create a future state with AI-led orchestration at the core. The ProcureTech team – along with their deep network of partners and integrators – will help us accelerate this shift, and get problem-solving orchestration into the hands of more CPOs, faster.”
“Orchestration is the new digital foundation for procurement, and ORO is the number one solution for enterprises globally,” said Lance Younger, CEO of ProcureTech, who has been named ORO’s new Executive Vice President, EMEA and Global Alliances. “The ProcureTech team joining ORO is a generational opportunity to shape the future of procurement. Together, we’ll work hand-in-hand with the world’s largest and most innovative enterprises and partners to solve problems and transform procurement with user-centric and human-first design thinking.”
Over the last five years, ProcureTech has been on a mission to supercharge procurement digitally, working with many of the Global 2000. Adding ProcureTech’s team of procurement thought leaders, tech innovators and industry practitioners deepens ORO’s already rich talent base, procurement heritage and industry experience, further solidifying its position as the leading enterprise procurement orchestration platform.