Provides a unified Source-to-Pay platform that integrates procurement, vendor management, contract tracking, and accounts payable automation into a single tool. It streamlines processes by enabling real-time budget tracking, AI-powered analytics, and seamless ERP integrations, reducing manual tasks and improving financial visibility for procurement, finance, and legal teams.
Funding
$70M raised to dateRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
+4Founders
Product
Problem
Many companies struggle with fragmented procurement processes, leading to inefficiencies, lack of spend visibility, and increased vendor risk. Existing systems often require manual data entry, resulting in errors and delays in invoice processing and budget tracking. This complexity makes it difficult for procurement, finance, and legal teams to collaborate effectively and maintain control over spending.
Solution
Pivot offers a unified source-to-pay platform that streamlines procurement, vendor management, contract lifecycle management, and accounts payable automation. The platform integrates natively with ERP systems and other business tools, providing real-time budget tracking and AI-powered analytics for enhanced spend visibility. By automating invoice processing with OCR and enabling three-way matching, Pivot reduces manual tasks and minimizes financial discrepancies. The vendor portal facilitates seamless interaction and onboarding, while the contract repository ensures efficient tracking of key information and renewals. Pivot empowers procurement, accounting, legal, FP&A, and IT/security teams to work more efficiently and collaboratively, ensuring compliance and optimizing financial performance.
Target Audience
Pivot is designed for procurement, finance, legal, FP&A, and IT/security teams in mid-sized to large companies seeking to streamline their source-to-pay processes and gain better control over spending.
Features
- AI-powered analytics for spend analysis and insights
- Automated invoice processing with OCR and three-way matching
- Real-time budget tracking and performance monitoring
- Vendor portal for streamlined communication and onboarding
- Contract lifecycle management with a centralized repository and renewal alerts
- Native integrations with leading ERP, HR-IS, productivity, and legal systems
- Customizable approval workflows for efficient request submissions
- Vendor risk assessment tools for enhanced compliance
- Virtual cards and bank payment options for simplified global payments