Magentic

Magentic provides AI-powered digital workers, called Mages, that handle procurement and supply chain tasks for global manufacturers. Its agents connect information from contracts, ERP systems, invoices, email, and spreadsheets, matching suppliers and products across systems, languages, and formats. They can manage work end to end, from reviewing spend and contracts to calculating savings and preparing supplier communications.

Magentic’s services support three areas of procurement value: finding savings before a purchase, protecting value during purchasing, and recovering value after transactions. Mages identify equivalent, lower-cost products, analyze spending and category strategies, check requisitions against contracts, and direct purchases toward approved suppliers and terms. They also review orders and invoices to flag price deviations, missed rebates, overpayments, and other potential contract-compliance issues, with supporting evidence.

The company serves enterprise customers in consumer goods and industrial and manufacturing sectors. Magentic states that it is ISO 27001 certified, operates under GDPR, meets SOC 2 requirements, and aligns its AI systems with the EU AI Act. Its offices are listed in London and New York.