Improving Procurement with Pivot: A Closer Look at the French Startup

Procurement management can often be a daunting task for organizations of all sizes. From managing purchase orders to streamlining workflows, companies often struggle to find efficient and effective solutions. However, a new French startup called Pivot aims to redefine the way companies manage their expenses and procurement processes.

Introducing Pivot: The Innovative Expense Management Solution

Pivot is a French startup that is dedicated to revolutionizing the world of expense management. The company aims to work with rapidly growing young companies that are in need of a robust procurement solution. Instead of opting for legacy enterprise expense management systems from ERP vendors, Pivot positions itself as the go-to procurement system for these companies.

At the core of Pivot are three experienced co-founders with a deep understanding of the industry. Romain Libéau, who previously served as the chief product officer at Swile, a French unicorn, Marc Antoine Lacroix, who held leadership positions at Qonto as the Chief Technology Officer and Chief Product Officer, and Estelle Giulio, a skilled workflow engineer who has worked with various companies, including Ola.ai.

With their combined expertise, the team behind Pivot aims to provide companies with a tool that not only simplifies expense management but also streamlines procurement processes, making them more efficient and cost-effective.

The Painful Process of Purchase Orders

Large companies are all too familiar with the tedious process of completing purchase orders. With numerous fields to fill out and a lack of clarity on what information is required, purchase orders can often be time-consuming and frustrating. Pivot recognizes this pain point and seeks to alleviate it by offering a tool that simplifies the purchase order workflow.

Administrators using Pivot can easily configure workflows from the platform’s user-friendly interface, eliminating the need for coding knowledge. For instance, a significant purchase with a software vendor could trigger multiple reviews, such as security, IT, and legal. Pivot’s integration with third-party systems allows for seamless collaboration and an interface that caters to various stakeholders.

Moreover, Pivot integrates with existing technology stacks, including HR, budgeting, and communication tools. This seamless integration streamlines the procurement process and ensures that relevant information is propagated across systems once a purchase order is validated. By eliminating unnecessary approvals and workflows, Pivot aims to add a layer of expense management that does not impede business teams.

European Characteristics and Market Opportunities

While Pivot is focused on the European market, it recognizes the importance of compliance and the unique characteristics of the payments ecosystem in different regions. This understanding sets it apart from its American counterparts, such as Zipper and Level Road, which have also raised substantial funding to improve acquisitions.

The fact that American startups are thriving in this space indicates a significant market opportunity. This realization has prompted Pivot to secure a pre-seed funding round of 5.3 million dollars from venture capital firms, including Visionaries, Emblem, Cocoa, Anamcara, Financière Saint James, as well as notable entrepreneurs and investors.

The rapid progress of Pivot is evident, with the company already launching its product in September after a funding round in April. By the end of the year, Pivot aims to have ten clients on board, demonstrating its agreements with various companies in the market.

The Future of Procurement: A Promising Outlook

Pivot’s entry into the procurement market comes at a time when many companies are reevaluating their spending strategies. With increasing pressure to optimize costs and improve efficiency, organizations are seeking innovative solutions to enhance their procurement processes.

The unique value proposition of Pivot lies in its ability to provide a comprehensive expense management solution that aligns with the needs of rapidly growing companies. By eliminating the need for complex and time-consuming procurement systems, Pivot allows organizations to focus on their core business functions while ensuring transparency and compliance.

As the adoption of digital transformation accelerates, the demand for streamlined procurement processes is expected to grow. Pivot’s innovative approach positions it as a key player in the market, offering companies a simple yet powerful tool to manage their expenses and procurement effectively.

Additional piece

As organizations continue to grow and expand, managing expenses and procurement becomes increasingly complex. The traditional approach to procurement often involves utilizing legacy enterprise expense management systems that are rigid and difficult to integrate into existing workflows. This is where startups like Pivot come in, offering innovative solutions that cater specifically to the needs of young, rapidly growing companies.

Pivot’s focus on simplicity and ease of use sets it apart from traditional procurement systems. By allowing administrators to configure workflows without the need for coding knowledge, the platform empowers organizations to streamline their processes and make better-informed decisions.

One of the key advantages of Pivot is its seamless integration with existing technology stacks. By integrating with HR systems, budgeting tools, and communication platforms such as Slack and Microsoft Teams, Pivot ensures that all relevant stakeholders are involved in the procurement process. This not only improves collaboration but also increases visibility and transparency, reducing the risk of errors and delays.

Furthermore, Pivot’s integration with ERP software, such as NetSuite and SAP, ensures that critical information, such as supplier details, cost centers, and compliance rules, is automatically propagated throughout the organization. This eliminates the need for manual data entry and reduces the risk of inaccuracies or discrepancies.

By streamlining the procurement process and reducing the time spent on approvals and workflows, Pivot enables organizations to focus on strategic initiatives and growth. With a user-friendly interface and intuitive features, Pivot empowers users to make informed decisions and efficiently manage their expenses.

Looking ahead, the role of procurement in organizations will continue to evolve. As digital transformation accelerates and new technologies emerge, the need for agile and adaptable procurement solutions will become even more critical. Startups like Pivot are at the forefront of this innovation, providing companies with the tools they need to navigate the complex world of procurement effectively.

Summary

Pivot is a French startup that aims to simplify expense management and revolutionize procurement processes for young, rapidly growing companies. Founded by experienced professionals, Pivot offers a user-friendly platform that allows administrators to configure workflows seamlessly. The integration with existing technology stacks, including HR systems and communication tools, enhances collaboration and transparency. Furthermore, Pivot’s integration with ERP software ensures accurate and efficient data propagation. With a focus on simplicity and efficiency, Pivot is well-positioned to address the evolving needs of organizations seeking streamlined procurement solutions.

Earlier this year, a large French technology company began requiring an email to the CEO for every purchase over €1,000. This was because they did not have the right tool to manage procurement.

Meet Pivot, a new French startup that wants to renew expense management solutions. Pivot wants to work with young companies that are growing rapidly and feel they need a procurement solution. Instead of choosing a legacy enterprise expense management system from an ERP vendor, Pivot wants to be the first (and last) procurement system for these companies.

At the helm of the startup are three experienced co-founders. Romain Libéau He was one of Swile’s first employees and most recently worked as the French unicorn’s chief product officer. Marc Antoine Lacroix He has spent several years working for Qonto as Chief Technology Officer and then Chief Product Officer. Estelle Giulio He has been a workflow engineer for several companies and for Ola.ai.

“I worked a lot on Swile’s operations and especially on all the internal tools. In fact, I saw a sequence where we first tried to get as many customers as possible, so first we focused on all the tools for our marketing and sales strategy, basically Salesforce. So you have a lot of customers and you want to keep them happy. So we structured our customer service, our customer success team,” Romain Libeau told me.

“And then you get to the last brick, which is how well you manage all your financial flows,” he added. And that’s where Pivot comes into play.

When companies hire a chief procurement officer, that person usually starts by listing all the requirements and publishes a call for bids. Typically, they can choose between the procurement component of Oracle NetSuite or perhaps cupa. It then takes several months to integrate the product into the enterprise and procurement teams feel like they are only using 10% of the feature set.

Pivot isn’t the only startup trying to improve acquisitions. In the USA, Zipper and level road Both have raised tens of millions of dollars. “There are some regional characteristics, European characteristics when it comes to compliance and the payments ecosystem,” Libeau said.

But the fact that some American startups are thriving also shows that there is a real market opportunity. For this reason, Pivot has already raised a pre-seed round of 5.3 million dollars (5 million euros) from several venture capital companies (Visionaries, Emblem, Cocoa, Anamcara and Financière Saint James), as well as entrepreneurs and investors like Loïc Soubeyrand (founder of Swile). , Steve Anavi (co-founder of Qonto), Hanno Renner (co-founder of Personio), Oliver Samwer (co-founder of Rocket Internet), Pierre Laprée, Alexis Hartmann and Alexandre Berriche.

And things have been moving at a very rapid pace. After this funding round in April, the company began developing the product over the summer and launched it in September with its first customer: Voodoo.

“We are advancing little by little because, as I always tell our team, more hurry, less speed. But we are going to end the year with about ten clients. So we have the agreements, but we don’t want to rush into doing anything,” Libeau said.

A PO Workflow for Humans

If you work for a large company and frequently complete purchase orders, you know it’s a painful process. There are too many fields, you’re not sure what you’re supposed to type in each field, and you’d rather find a solution to avoid purchase orders.

Pivot is well aware of this and has designed a tool that makes the purchase order workflow less complicated. Administrators can configure workflows directly from the Pivot interface, with no coding knowledge required. For example, a very large purchase with a software vendor could trigger a security review, an IT review, a legal review, etc. That’s why Pivot relies on third-party integrations and an interface that works for everyone.

Pivot integrates directly with your existing technology stack. Get company org chart for HR system approval workflow, retrieve budgets from Pigment, Anaplan, etc. It then communicates with your communication tools, such as Slack, Microsoft Teams, and Jira.

And of course, Pivot integrates with ERP software (NetSuite, SAP…) so that suppliers, cost centers, compliance rules and more are instantly propagated once a purchase order is validated.

Too many companies waste time on endless approvals and workflows. Pivot wants to add a layer of expense management without slowing down business teams. And the time seems right, as many companies are reviewing how they spend money.