Procure Analytics, a procurement solutions company based in Atlanta, Georgia, has acquired Seaforth Analytical Services, a Glasgow-headquartered firm specialising in advanced spend analytics driven by artificial intelligence. According to the announcement, this acquisition formalises a previously successful partnership focused on providing enhanced visibility into procurement spend for Procure Analytics’ members through Seaforth’s Accelerated Insight platform.
Seaforth’s technology uses AI-powered spend cube analytics to classify suppliers and products rapidly across all direct and indirect spend categories. The firm claims this capability helps organisations identify consolidation opportunities, improve efficiency, and reduce costs. By integrating Seaforth’s expertise directly into its operations, Procure Analytics said it will bolster its broad range of procurement services, which already include group purchasing organisation (GPO) programmes, tail spend management, and master data management.
The CEO of Procure Analytics emphasised that AI is transforming how organisations understand their procurement data — not merely automating categorisation, but extracting strategic value from every dollar spent. A partner at Seaforth described the acquisition as a logical next step, providing a broader platform to deliver AI-driven insights and contribute to the evolution of Procure Analytics’ offerings.
This move fits into a broader expansion strategy by Procure Analytics, which has recently acquired other specialist companies to enhance its capabilities. Earlier deals include the purchase of IMA, Ltd., an AI-driven software provider focused on MRO (Maintenance, Repair, and Operations) inventory data cleansing and governance, and Direct Sourcing Solutions, Inc. (DSSI), which added a global managed procurement services team and expanded category expertise. These acquisitions collectively aim to provide a comprehensive procurement solution addressing data quality, category sourcing, and governance challenges.
Procure Analytics positions itself as a data-enabled procurement services provider with over $2.5 billion in spend under management, leveraging proprietary analytics and digital platforms to deliver procurement savings and efficiency for its members. The ongoing consolidation and enhancement of advanced analytics capabilities through acquisitions such as Seaforth reflect growing market demand. Industry data projects that the global procurement analytics market is set for significant growth, with value anticipated to reach over $21 billion by 2032, driven by the increasing importance of spend visibility, contract compliance, and data-driven decision-making.
However, some analysts caution that while AI-driven spend analytics promise substantial benefits, realising these outcomes depends heavily on the quality of underlying data and the integration of insights into procurement operations. As Procure Analytics continues to expand its suite of offerings, the effectiveness of these integrations in delivering measurable ROI for its members will be closely watched.
In summary, Procure Analytics’ acquisition of Seaforth Analytical Services marks a strategic enhancement of its AI-powered procurement analytics capabilities and exemplifies its wider strategy of building an end-to-end, data-centric procurement platform to address the evolving needs of its client base.
Source: Noah Wire Services
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