Thinking Machine

📍 West End, United Kingdom🗓 Founded 2019👥 7 employees💰 Last funded Jan 2021

Embedded Software Products 🌐 thinkingmachine.co

Thinking Machine is a SaaS platform for analyzing supplier contracts & invoices at scale. Our patented tech automates the most complex tasks of consolidating, auditing, and optimizing all areas of enterprise technology spend, while ensuring the highest standards of data security and privacy to our customers (our solution is SOC-2 compliant!) . Our platform leverages all available data, including unstructured data, to help our customers overcome 360 spend visibility challenges so they can realize their ambitions for smarter spending and sustained savings in their procurement processes while closely aligning to the organizations P&L and strategic aims. In the last few years, we’ve been able to provide immense value to our customers by: -> Replacing Google OCR at a procurement technology vendor, driving a 30% uplift in data quality over messy invoices while processing up to 100,000 monthly invoices -> Accurately identifying almost $50m in savings in the last year alone for our customers ->Introducing a real-time invoice validation system against a Professional Service contract worth $500m a year which was experiencing a 10% error rate ->Introducing a proposal-to-spend forecasting system enabling Procurement to evaluate complex bids from strategic suppliers and finally winning executive support to walk away from a long-standing $30m contract with a strategic supplier for a lower-cost option.

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2019

Founded