PALO ALTO, July 9, 2024—Tonkean Inc., provider of AI-powered process orchestration for enterprises, today announced that it has signed PSG Procurement Services GmbH (part of EPSA Marketplace Business Line), the global leader in modern tail spend management services and eProcurement solutions, as a new client—bringing Tonkean’s leading orchestration technology to one of the world’s most innovative procurement firms.
“We couldn’t be more excited to partner with Tonkean,” Michael Kofler, PSG’s CEO, said. “PSG was started with a commitment to leverage innovative technology to reduce high process costs in indirect spend management and simplify request, approval, ordering and invoicing procedures. Tonkean’s process orchestration technology represents an important step forward for the procurement function to that end, and will provide immense value for us, our clients and our suppliers.”
“PSG is a titan of the tail spend management world, trusted by clients around the world and for good reason,” said Satendar Bhatia, Chief Revenue Officer and Executive Vice President at Tonkean. “We’re honored to be working with them as technology partners in the next stage of their digital transformation efforts and to help them unlock the immense promise within procurement of process orchestration and AI technologies.”
PSG will be using Tonkean’s AI-powered process orchestration tools to integrate and streamline customer transactions and purchase orders across all existing systems, like SAP, as well as to more resolutely ensure compliance with business rules.
Using AI to extract, validate, and summarize intake data—and orchestration to automatically take action on quotes, centralize data, and personalize process experiences—they hope to greatly increase internal efficiency as well as elevate overall procurement performance.
The PSG group of companies has been offering highly professional operational procurement services in combination with a “real” one creditor solution since 1991. Today it serves clients all over the world.
Tonkean, providers of a first-of-its-kind process orchestration platform for enterprise internal service teams, was founded in 2015, and is headquartered in Palo Alto, with R&D in Tel Aviv.
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PSG Procurement Services GmbH, part of the EPSA Group, has been offering fully digitised and operational procurement services to optimise its customers indirect purchasing since 1991 and is an innovation leader in modern procurement services and eProcurement solutions worldwide. To cover all of its customers' tail spend needs, PSG offers outstanding services for indirect purchasing that are perfectly integrated into customer processes with its marketplace solutions with hundreds of catalogs from tail spend suppliers in all C-categories with many millions of items, including pre-negotiated/dynamically managed prices, as well as its SpotBuy solution, which consolidates tens of thousands of suppliers worldwide in a single vendor model. The pioneer in Europe in terms of optimization, digitalization and automation of holistic and sustainable purchasing processes, from the creation of requirements to invoice archiving
Tonkean is the first-of-its-kind process orchestration platform that helps enterprise internal service teams like procurement and legal create process experiences that people actually follow. With Tonkean, you can build processes that are personalized for each requester, and that use AI to automate the intake, triage, and resolution of every request. With a library of preconfigured process templates and a 100% no-code workflow editor, Tonkean is the automation platform of choice for many innovative F500 companies. With full governance controls, enterprises can guarantee compliance while maximizing adoption—all without any change management and no code. Founded in 2015, Tonkean is headquartered in Palo Alto with R&D in Tel Aviv.
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