Airbase headquartered in San Francisco offers a cloud-based accounts payable and spend management solution, and combines a pre-approval system with corporate cards, allowing users to manage the entire AP spend process in one place.
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Precoro
Score 7.4 out of 10
Mid-Size Companies (51-1,000 employees)
Precoro is a cloud-based solution for procurement process optimization. It aims to eliminate time-consuming manual procedures and human factor errors, and instead automates operations and centralizes purchasing processes. It enables users to: - Approve documents from any device using email or Slack notifications. Users can streamline approval workflow by adding as many steps as needed and assigning specific roles for colleagues. - To save money from the purchasing budget,…
Airbase is suitable for companies that don't have very many legal entities. The features for multi-entity companies are inefficient, often requiring the user to look at only one entity at a time. That, coupled with requiring the company to prefund money into an Airbase account in order to use a physical corporate card or virtual card can be burdensome. Prefunding requires that you maintain cash in Airbase in order for the credit cards to be used, which in reality, is more like a debit card. And when using multiple entities, you have to have money in separate accounts. Therefore, you have to constantly monitor if you're balances are sufficient. There is a feature to auto load funds when the balance reaches a certain threshold, however, the loading of funds takes 5 business days. It was almost impossible to predict at what point wallet loads needed to be initiated, and therefore required a significant sum of cash to sit in Airbase accounts. There were instances where significant costs would come up, and our employees were unable to pay for them because the cash ran too low before the wallet load was completed.
Precoro is great if you need to keep your organization aware of where in the purchasing process an order is, and if you need a place to communicate about orders & keep a record of those communications. It does not work too well for a variety of purchasing requests - the process lacks complexity.
Uploading receipts is seamless and easy! I hardly ever have issues with this and the doc reader seems to work very well.
Being able to see who needs to approve my reimbursement requests and adding notes/comments to reach out for questions or bump them as a reminder is a great feature.
Email notifications are helpful and timely of knowing when an approver has approved my reports.
The Airbase Invoice date syncs with the accounting system's current month date if the previous month is closed.
Split expenses and attendees' departmental expense recording. We are currently collaborating with Airbase for a different look and applicability of this functionality.
More filters to be added into the report creation and export.
The "bundles" in Precoro are not actually bundles. I would like to connect 2 of our catalog items together so that when 1 is selected for purchasing, the other item is required
Sometimes the comments wont properly tag a person that we're trying to tag
More options to customize the approval workflow based on location
Ability to edit where we're buying an item from without having to deny the request
Airbase is a great solution, especially for smaller companies without an ERP that has an AP module. If an ERP was implemented, Airbase would be less valuable.
See previous comments about some UI/UX features that can be improved: - Can't see full merchant name or approver in the desktop "Reimbursements" screen - Can't see or filter expenses by "Purpose" as a user - Receipt mgmt and submission in app could be less clunky
At first glance it seemed to be rather difficult in use, but actually it turned out to be much easier [than] we thought. Thanks to the Precoro team we could go through the procurement workflow. Now with [the] right, user-friendly software partner, we are absolutely ready to meet all [our] company's needs.
Over the last 3 years, we've only had one major service issue that rendered Airbase unusable for us for about 24 hours. That said, they navigated the SVB bank crisis very well and made sure funds were available during that time.
The customer support offered by Airbase has been top-notch; we could not have asked for anything more. They were accommodating during the onboarding process. They have always been quick to respond to any issue that we have faced. We get the sense that they are well-run and organized company.
Precoro is a company, which makes great products for businesses. What is more, it is a team of professionals, who are always keep[ing] in touch with you. Thanks [to] Precoro, we easily go through procurement workflow and manage all of our POs in a couple of minutes. We had a great experience with the Precoro team which helped us with installation of the software.
The Airbase team was very helpful in importing our .csv files from our previous system. They provided a great overview of the system for the rest of the company and everyone got up to speed quickly.
We chose Airbase for the virtual cards and cashback. Having complete control over our software spending via virtual cards was important to us for several reasons, including security, audit, budgetary, etc. We knew it had functions for expenses and bill payments, so we thought we would switch to them, but we were slow to do so. We would have switched sooner if we had known how good these functions were and that they were better than their counterparts.
Precoro is unique because it can be customizable from start to finish without needing to build in API. It is extremely easy to use and understand, so we did not need to give our employees extensive training as we did with Tradogram. Precoro also allowed us to communicate about orders right within the order itself, where the other software did not.
It is very scalable among different departments in one company. We have not tried to use it yet with multiple entities so I cannot speak to that experience.
We can track each purchase order, who created it, and why. They are no longer lost, and we can always see the history. The dashboard allows us to monitor information about all essential documents and at what stage they are now and keep track of which invoices have not yet been paid or partially paid.
By setting up budgets for each department, we can effectively plan the allocation and prevent overspending.
The system is very flexible and convenient. I can't imagine my work without it.
