#None #Fintech #Spend Management #Precoro

Precoro's Significant Achievement in FinTech

On March 31, 2026, Precoro, a leader in procurement centralization and automation, proudly announced its victory in the Spend Management Innovation Award category during the prestigious 10th annual FinTech Breakthrough Awards program. This annual event, organized by FinTech Breakthrough, aims to acknowledge exceptional companies and solutions within the financial technology sector globally.

Precoro's innovative spend management software consolidates varied purchasing activities into one centralized platform, enabling companies to maintain a comprehensive overview of their expenses. This groundbreaking solution enhances the efficiency of spend management workflows, encompassing every step from purchase requests and approvals through to invoicing and payments.

The key features of Precoro's spend management platform include:

• - Categorized employee expense claims: Streamlining the expense reporting process, making it easy for employees to submit their claims.
• - Real-time budget monitoring and alerts: Providing teams with updated budget management capabilities and alerts on spend limits.
• - Integration with leading ERPs: Precoro seamlessly connects with major accounting tools like QuickBooks, NetSuite, Xero, and Microsoft Dynamics 365 Business Central, facilitating seamless data synchronization.

A Global Approach to Spend Management

Precoro is tailored for global organizations, allowing them to administer spending across multiple subsidiaries and currencies while accommodating localized taxation setups in various languages and regions. This enables businesses to maintain control over their spending before commitments are made, thus yielding cost savings through bulk purchasing and early payment discounts.

Moreover, to combat maverick spending, Precoro encourages compliance by making the compliant choices the default options available to users. Equipped with AI-driven capabilities, Precoro also scans invoices and receipts, automatically extracting essential data and matching invoices to purchase orders efficiently.

Leveraging AI for Better Decision-Making

The platform features an AI Assistant, which utilizes natural language processing to assist users in making data-informed decisions. This intelligent assistant analyzes spending patterns, forecasts future expenditures, and alerts teams to unusual purchasing behaviors, thus enhancing the overall procurement process.

Steve Johansson, Managing Director of the FinTech Breakthrough program, praised Precoro, stating, "Precoro simplifies the tracking of who spends what, when, and why, accessible anytime and from any device. It offers companies complete visibility into requests, approvals, vendors, purchases, and reimbursements, ensuring fewer errors and quicker month-end reconciliations."

Andrew Zhyvolovych, CEO of Precoro, elaborated on the challenges modern organizations face with fragmented spending channels. He asserted that Precoro addresses these challenges by centralizing and connecting various processes, including request intake, purchasing, expense reimbursements, and invoicing. He expressed gratitude for the recognition from the FinTech Breakthrough Awards, emphasizing their commitment to improving transparency and control over spending.

About Precoro and FinTech Breakthrough

Precoro is dedicated to providing organizations with enhanced visibility, control, and confidence in their spending management through its advanced analytics platform. Over 1,000 companies spanning more than 80 countries utilize Precoro's services to manage upwards of $150 billion in expenditures.

The FinTech Breakthrough Awards, a part of Tech Breakthrough, showcase the most innovative financial technology companies and products worldwide, spanning diverse categories such as Digital Banking, Personal Finance, and InsurTech. The recognition signifies a decade of innovation in financial technology, illustrating the transformative impacts on the global finance ecosystem.

For more information about Precoro’s award-winning platform, visit precoro.com.