April 1 Alert: Procurify's IPO Makes Companies Rethink and Transform Their Spend Culture

VANCOUVER, March 31, 2017 /CNW/ - That's right. It's been only five months since the company raised a $7 Million Series A yet Procurify's Initial Purchase Orders (IPO) have already helped hundreds of companies take control of their spending. Initial Purchase Orders do not figure in the feature sets of most spend management software; but, for Procurify, they are instrumental in introducing control and due diligence in the purchasing process.

This carries all the more significance given the breathless pace with which tech startups operate and scale up. Given that high burn rates (seen as a consequence of massive growth) have become a contentious talking point in the Valley, Procurify's philosophy resonates quite deeply with Tech — Clearpath Robotics, Bench, TaskUs, Vision Critical, among a long list of tech companies, already use Procurify. Itself a tech startup that is currently going through a growth spurt, Procurify is able to recognize the challenges attendant to high growth, and is thus uniquely positioned  — both technically and culturally — to help other companies scale up without the risks of losing control over their spending.

Unlike incumbent legacy systems, Procurify offers something more than spend management — its real promise lies in helping a company improve its Spend Culture. Spend Culture, a concept coined and ideated by Aman Mann, CEO of Procurify, has already been declared one of the big corporate buzzwords of 2017 by CEO magazine. "Investors and executives have begun asking a fundamental question: Do we know what kind of Spend Culture we have?" says Mann.

That is precisely where Procurify, according to Mann, comes in. "It's the pivotal transformation from reactive to proactive spending that results in a smarter Spend Culture. And it's Procurify's imperative to help steer that transformation," he says.

SOURCE Procurify Technologies Inc.

For further information: John Rugamas, Director of Communications, john@procurify.com, Phone: +1-888-463-5254

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