San Francisco, CA-based Vroozi, which describes itself as "the intelligent spend management and invoice automation platform," said in a press release on Business Wire that it has secured a procure-to-pay contract with an unnamed global chemical manufacturer to further expand its operations in Europe and Asia.
“Our widening expansion into Europe and Asia presents an exciting opportunity for Vroozi to empower companies in these regions with intelligent spend management and automation capabilities,” Shaz Khan, CEO and Founder of Vroozi, said in the release. “Our platform is designed for those who are seeking to gain a leg up on competitors by modernizing and simplifying their business purchasing at speed and scale.”
Vroozi said it will offer its smart procurement and invoice automation platform to the chemical manufacturing company, which has established locations across North America, Europe, and Asia, the release said.
The agreement marks the company’s ongoing efforts to transform spend management in the chemical industry and for chemical companies looking to maximize the value of their enterprise resource planning (ERP) investments, such as through SAP and Oracle.
“This recent partnership helps build momentum to accelerate the digital revolution in Western Europe and Southeast Asia and scale procure-to-pay adoption for large enterprises across the globe,” Khan said.
Vroozi specializes in sourcing, marketplace supplier management, and invoice processing. The company kicked off its European expansion in 2013 and its Asian expansion in 2019. It hopes to combat the ongoing supply chain and logistics challenges the chemical industry faces, as well as promote price elasticity and adherence to strict quality requirements, the release said.
Its technology helps companies manage their spending, use end-user adoption with their employees, connect digitally with their suppliers, and manage spend and payments visibility from any location. The digital platform helps reduce transaction costs, maximize efficiency and improve business margins, Vroozi said.
“Vroozi's state-of-the-art technology, combined with its industry expertise, enables chemical companies to overcome traditional procurement hurdles with customizable solutions that make procure-to-pay adoption seamless,” the Business Wire press release says.