Originally aired October 22, 2025 on Extropy On AIr.
Transformation doesn’t have to be disruptive. In the first episode of our Raindrop partner series, Kevin Zirkle of Extropy Advisors welcomes Ward Karson, COO of Raindrop, to introduce the partnership: what Raindrop’s intelligent spend management platform does, why CFOs are buying outcomes instead of features, how a modular, best-fit approach avoids rip and replace, and how AI is built in to help people make better decisions.
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Key takeaways
- Raindrop is a modular spend management platform covering contracts, suppliers, sourcing, e-procurement and spend analytics.
- CFOs are thinking more like CIOs. They want data flows, risk visibility and measurable outcomes, not just features.
- Raindrop plugs into existing systems like Basware and the ERP through RainConnect, filling gaps without disrupting what works.
- The suite-only mindset is giving way to a best-fit stack, and API-first integrations mean connections are no longer the blocker.
- Start modular, prove value quickly, then expand.
What is Raindrop?
Ward describes Raindrop as an intelligent spend management platform designed from the ground up to be modular, fast and intuitive. It focuses on five core areas:
- Contract lifecycle management
- Supplier management
- Strategic sourcing
- E-procurement
- Spend analytics
What sets it apart is a data-centric architecture, embedded AI and a modern user experience, which means faster adoption and faster time to value. Kevin says that modularity is what made the partnership feel so natural. Extropy focuses on transformation that works in the real world, across distributed teams, legacy systems and different levels of maturity, and Raindrop lets Extropy tailor the work to where each client is in its journey.
What are CFOs asking for right now?
Ward says CFOs today are thinking much more like CIOs. They want to understand data flows, risk exposure and scalability. One CFO told him, “I’m not buying features, I’m buying outcomes,” and that stuck with him. The platform has to show how features translate into measurable business value.
Kevin agrees. The best tools disappear into the workflow and help better decisions happen faster. The question Extropy asks in every engagement is what can shorten time to insight, not just time to process.
How does Raindrop fit with the systems you already have?
This is one of the most critical pieces. Raindrop’s RainConnect lets it connect to legacy and third-party systems so it can fill a specific gap without disrupting what is already working. If a company already has an e-procurement tool, Raindrop might come in with sourcing and contract management, including RainSign, its built-in e-signature. With Basware, Raindrop can layer on supplier onboarding or contract management with no conflict.
Ward is seeing more clients build hybrid ecosystems: one platform for procurement, SAP for ERP, Basware for AP automation and Raindrop for sourcing and CLM. Kevin calls it a shift from a suite-only mentality to a best-fit stack, where companies select tools based on specific needs instead of an all-or-nothing platform. Because Raindrop is API first, integration is no longer the blocker. One client connected Raindrop sourcing with Workday and a homegrown contract repository in less than a month and now has seamless source-to-contract visibility, without overhauling either system.
How does Raindrop use AI?
Ward says AI isn’t a buzzword for Raindrop. The goal is to let AI illuminate so people can make the decisions. It has been embedded from day one, not bolted on, and drives:
- Intelligent contract extraction and risk analysis
- Supplier risk profiling
- Smart sourcing recommendations
- Anomaly detection in spend patterns
Users get real-time insight without leaving the workflow or bringing in a data scientist. Kevin adds that at Extropy, AI succeeds where it enhances human decision-making, not where it tries to replace it.
What does a modular win look like?
Ward shared a client whose accounts payable team managed supplier data in Microsoft Dynamics 365. Every new onboarding or change request created another mismatch between intake forms and invoice records, so getting everyone on the same supplier record was nearly impossible. With Raindrop, the D365 supplier master feeds straight into the onboarding workflow, and approved invoices are pushed directly into D365 for payment.
Now supplier IDs, names and key data match everywhere, and decentralized teams can onboard and pay suppliers without manual workarounds or duplicate work. The integration also sets the stage for full procure-to-pay automation without losing the day-one value. Kevin’s takeaway for clients: start modular, prove value quickly, then expand.
What’s ahead in the Raindrop series?
Over the next episodes, Kevin and Ward dig into each of Raindrop’s core modules, with use cases and a look at how AI drives each one:
- Contract Control, Without the Chaos – Smarter CLM with RainSign
- Know Your Suppliers: Streamlined, Smart, and Secure with Raindrop + Extropy
- Smarter Sourcing Starts Here: How Raindrop Cuts Cost Without Cutting Corners
- Compliance, Visibility, and Control with Raindrop
- Inside Raindrop: The Next Era of AI-Driven Procurement
In their words
Transformation doesn’t have to be disruptive. With the right partner and the right tech, you can get faster results, lower risk and build for the future.
Ward Karson, Raindrop
Start modular. Let’s prove value very quickly, and then let’s expand.
Kevin Zirkle, Extropy Advisors
About the speakers
Kevin Zirkle is Director of Business Development at Extropy Advisors, where he works across Extropy’s partner ecosystem, matching organizations with the right technology and the right people to move transformation from the whiteboard into production.
Ward Karson is Chief Operating Officer at Raindrop, a spend management platform covering sourcing, contracts, supplier management, e-procurement and analytics.
FAQ
What is Raindrop?
Raindrop is an intelligent spend management platform built to be modular, fast and intuitive. It covers five core areas: contract lifecycle management, supplier management, strategic sourcing, e-procurement and spend analytics, with embedded AI and a modern user experience.
Does Raindrop replace existing procurement or AP systems?
No. Through RainConnect, Raindrop connects to legacy and third-party systems so it can fill specific gaps. For example, it can layer supplier onboarding or contract management alongside Basware for AP automation, or add sourcing and CLM next to an existing e-procurement tool and ERP.
What is a best-fit tech stack?
A best-fit stack means choosing tools based on specific needs instead of buying into one all-or-nothing suite. Many companies now run hybrid ecosystems, such as one platform for procurement, another for ERP, another for AP automation and Raindrop for sourcing and CLM, connected through APIs.
How does Raindrop use AI?
AI has been embedded in Raindrop from day one to support human decisions, not replace them. It drives contract extraction and risk analysis, supplier risk profiling, smart sourcing recommendations and anomaly detection in spend patterns, all inside the workflow.
Keep exploring
- More from our partner series on Extropy On AIr
- Next in the Raindrop series: Contract Control, Without the Chaos – Smarter CLM with RainSign
- Why Extropy
Wondering where a modular approach could add value in your stack? Book a discovery call with our team.
