The transaction brings together Tonkean’s process and agentic orchestration platform and Cinch’s artificial intelligence-powered finance and logistics intelligence platform, the companies said in a Tuesday (Dec. 2) press release.
Cinch’s platform turns unstructured documents into actionable spend insights for enterprise finance and procurement teams, according to the release. It does so by automatically capturing, organizing and analyzing freight and invoice data in real time.
Tonkean’s acquisition of this platform will enable it to provide Tonkean’s customers with new capabilities for invoice processing, vendor analytics and spend intelligence, per the release.
“The ripest part of any business for disruption by AI is G&A [general and administrative expenses],” Tonkean Co-founder and CEO Sagi Eliyahu said in the release. “This has long been Tonkean’s strong suit. We view acquiring Cinch, folding their expertise in finance and logistics intelligence into our broader orchestration capabilities, and joining their talented team with ours as a way to double down on areas where we’re growing quickly and where we’re already leading.”
Cinch’s co-founders will join Tonkean and support its agentic orchestration solution for enterprise finance teams, FinanceWorks, according to the release. Cinch CEO and Co-founder Ohad Azgad will become general manager for FinanceWorks, while Cinch Chief Technology Officer and Co-founder Ran Amar will become the new product architect of FinanceWorks.
Azgad said in the release that Tonkean’s end-to-end agentic orchestration “is going to define the future of work in enterprise G&A.”
“Tonkean provides a huge unlock for what we’ve been building at Cinch, and we’re excited to see what combining the two makes possible for enterprise finance and procurement teams,” Azgad said.
While true AI agents can use tools, tap unique skills and tap other agents to complete complex work across tech environments, the key ingredient is integration, Eliyahu told PYMNTS in July.
“A true agentic AI system orchestrates agents across every relevant piece of technology or team environment,” Eliyahu said. “If the ‘agent’ only handles discrete tasks that are defined by the user, if it only works inside its own system, or if it’s only accessible through chat, it may in fact be an AI capability, but it’s not an agent — it’s an automation or it’s a chatbot.”
Source: https://www.pymnts.com/