Microsoft seems to be on a buying spree currently. This month, it already confirmed two major acquisitions in the way of cybersecurity firm RiskIQ and Cloud Infrastructure Entitlement Management (CIEM) leader CloudKnox Security. Today, it has announced yet another purchase, namely Suplari.
Photo by fauxels from Pexels
Microsoft notes that the financial data of many organizations is constrained in silos, which means that it's inherently difficult to make data-driven decisions about the business even though they are becoming exceedingly important due to rising costs and reduced margins. As such, Microsoft believes that its acquisition of Suplari, coupled with its existing Dynamics 365 capabilities, will help companies tackle this problem.
For those unaware, Suplari spearheads the AI-automated "Spend Agility Revolution", through which it helps businesses optimize their costs by providing actionable insights and maintaining a clean and unified flow of financial data. Some of its customers include Hulu, Sonos, and GIA. Microsoft hopes to use Dynamics 365 capabilities to further enhance the Suplari Spend Intelligence Cloud, but the product will remain unchanged for existing customers of the product.
On the other side of the fence, the acquisition holds multiple benefits for Microsoft as well. Having Suplari under its belt means that it can make actionable insights regarding expenditure accessible to its customers as well as unlock new ones. It also means that customers can now take proactive approaches to mitigate spend risks rather than relying on traditional finance management techniques.