Tropic

Tropic is an intelligent procurement platform designed to help organizations manage and optimize their software spend. It unifies all procurement data, including contracts, invoices, and spend, using AI to extract key details and build a comprehensive procurement picture. The platform's AI agents automate tasks such as tracking renewals, identifying shadow spend, flagging compliance issues, and managing manual procurement workflows. Tropic leverages over $18 billion in spend insights to provide SKU-level price benchmarks and proven negotiation playbooks. This allows users to access actionable recommendations through its Purchase Prep feature, which identifies renegotiation opportunities, duplicate spend to cut, and areas of overpayment. The platform is built for finance, procurement, IT & security, and accounting teams, aiming to reduce costs, save time, and ensure compliance in software purchasing and renewals.