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Precoro Expands AI Capabilities to Supercharge Vendor Management

By: Newsfile

February 24, 2026 at 11:29 AM EST

ⓘ This article is third-party content and does not represent the views of this site. We make no guarantees regarding its accuracy or completeness.

New York, New York--(Newsfile Corp. - February 24, 2026) - Precoro, a leading procurement and vendor management platform, has launched AI-enabled features that significantly broaden its intelligent automation suite. Following the successful integration of AI-powered Optical Character Recognition (OCR), Precoro has also introduced an AI Assistant designed to bring data insights and contextual analysis directly into the user's workflow.

Precoro

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As procurement and finance operations generate increasing volumes of data, teams face the dual challenge of minimizing repetitive manual work while quickly identifying trends and patterns that inform smarter decisions. Precoro's expanded AI capabilities address both.

AI Assistant: Your Procurement Co-Pilot

Precoro's new AI Assistant acts as an intelligent, conversational insights engine built into the platform. Users can ask questions about spend trends, supplier performance, delivery delays, or budget forecasts and quickly receive data-backed answers without manually exporting reports. The AI Assistant transforms complex procurement and vendor data into clear insights in seconds, enabling faster decision-making and deeper vendor analysis across the organization.

"Procurement teams spend countless hours just preparing and digesting data. Our AI Assistant brings that insight to their fingertips, making analysis intuitive and strategic decisions easier," said Andrew Zhyvolovych, CEO of Precoro.

AI-Powered OCR: Faster, Smarter Document Processing

Building on its existing OCR technology, Precoro now leverages Google's Custom Extractor and advanced intelligent document processing to automatically capture invoice data. Uploaded invoice files are processed, parsed, and pre-filled in the system, drastically reducing human error and operational friction.

The OCR feature not only extracts standard fields like supplier names, amounts, and dates but also supports item-level data capture and smart matching with purchase orders and goods receipts, enabling faster approvals and clearer visibility into payables. This functionality helps companies process supplier invoices more efficiently, secure early payment discounts, and strengthen vendor relationships.

Unified AI Experience for Vendor Management and Spend Control

Precoro's enhanced AI capabilities help organizations move beyond vendor onboarding and document processing to analytics and decision support. By combining automation with intelligence, the platform uncovers duplicate invoices or unusual spending before they turn into financial risks. The built-in Supplier Portal streamlines collaboration with vendors, while AI-driven insights reveal opportunities to consolidate suppliers and negotiate better terms.

About Precoro

Precoro is a procurement centralization and automation platform designed to establish purchase controls, provide 360-degree spend visibility, and uncover savings without disrupting operations. Trusted by over 1,000 companies globally, Precoro helps finance and procurement teams work from a single source of truth across projects and business units. For more information, visit precoro.com.

Media Contact:
Maryna Marochko
press@precoro.com
+19292842615

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/284554

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