Precoro vs. Tipalti

Overview
ProductRatingMost Used ByProduct SummaryStarting Price
Precoro
Score 7.0 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,…
$2,988
per year
Tipalti
Score 7.9 out of 10
Mid-Size Companies (51-1,000 employees)
Tipalti automates critical financial processes to drive efficiency, including accounts payable, mass payments, procurement, and expenses, all on one global finance automation platform that grows with the organization, automating, de-risking and simplifying finance.
$129
per month
Pricing
PrecoroTipalti
Editions & Modules
Core
$249
per month (billed annually)
Automation
$999
per month (billed annually)
Suite
Individually Tailored Pricing
per year
No answers on this topic
Offerings
Pricing Offerings
PrecoroTipalti
Free Trial
YesNo
Free/Freemium Version
NoNo
Premium Consulting/Integration Services
YesYes
Entry-level Setup FeeNo setup feeRequired
Additional DetailsPricing starts at $149 per month for the platform fee. Users can upgrade to Tipalti's more advanced capabilities as their businesses gets more complex. The Tipalti pricing model is designed to grow with the user's company. Advanced features such as W-8 tax forms, international tax IDs, or multi-entity payables are available as needed.
More Pricing Information
Features
PrecoroTipalti
Payment Management
Comparison of Payment Management features of Product A and Product B
Precoro
-
Ratings
Tipalti
8.9
48 Ratings
31% above category average
Customizable Approval Policies00 Ratings9.437 Ratings
Financial Document Management00 Ratings8.433 Ratings
Payment Status Tracking00 Ratings9.246 Ratings
Payment Audit Trail00 Ratings8.640 Ratings
Duplicate Bill Detection00 Ratings8.141 Ratings
Advanced OCR00 Ratings8.835 Ratings
Electronic Funds Transfer00 Ratings9.536 Ratings
Accounts Payable
Comparison of Accounts Payable features of Product A and Product B
Precoro
-
Ratings
Tipalti
8.5
43 Ratings
36% above category average
Automated Accounts Payable Processes00 Ratings8.840 Ratings
Vendor Management00 Ratings8.840 Ratings
Tax Form Preparation00 Ratings8.122 Ratings
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PrecoroTipalti
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Webexpenses
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Score 8.5 out of 10
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User Ratings
PrecoroTipalti
Likelihood to Recommend
9.6
(16 ratings)
9.1
(87 ratings)
Likelihood to Renew
-
(0 ratings)
8.5
(3 ratings)
Usability
7.3
(1 ratings)
6.8
(63 ratings)
Availability
-
(0 ratings)
9.1
(1 ratings)
Performance
-
(0 ratings)
8.2
(1 ratings)
Support Rating
9.1
(1 ratings)
8.5
(13 ratings)
Online Training
-
(0 ratings)
7.4
(2 ratings)
Implementation Rating
-
(0 ratings)
7.4
(2 ratings)
Configurability
-
(0 ratings)
7.4
(2 ratings)
Ease of integration
-
(0 ratings)
6.4
(1 ratings)
Product Scalability
-
(0 ratings)
6.4
(1 ratings)
Vendor post-sale
-
(0 ratings)
8.2
(1 ratings)
Vendor pre-sale
-
(0 ratings)
8.2
(1 ratings)
User Testimonials
PrecoroTipalti
Likelihood to Recommend
Precoro
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.
Read full review
Tipalti
The invoice processing element is far, far easier than manually inputting invoices are we were doing previously. The OCR is not perfect, but having it scanned in and ready for review saves a lot of time. The approvals process is fast and effective, and approvers can approve directly from the email without having even to log into the system. The audit trail function allows the finance team to see exactly who has done what to each invoice, and when. Payments, however, are where we see the most benefit. Vendor bank details are stored securely and controls can be put in place to ensure that any changes to vendor data must be approved. Once fully approved, invoices can be scheduled for payment either on a particular date or on the invoice due date, which ensures vendors are paid on a 'Just In Time' basis. All invoices and payments sync seamlessly to our ERP each day.
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Pros
Precoro
  • Editing the catalog data is very easy. We can export/import it from Excel
  • Comparing prices to make the right decisions
  • Fast approvals with specific roles for colleagues
  • Visual analytics and budget control for each department
  • Ability to add as many custom fields as we need to cover all processes
  • Real-time stock control and warehouse request creation right from the inventory module
Read full review
Tipalti
  • Invoice coding, routing, and approval
  • Complete visibility of all invoices floating around your organization
  • Payment of invoices via numerous methods and multiple currency with just a click of the mouse
  • Captures W9 & W8-BENE information
  • posts all information including a pdf of invoice into your GL/accounting system
Read full review
Cons
Precoro
  • 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
Read full review
Tipalti
  • The report that provides the "Not payable" vendors does not work well for us, particularly because the sync to our ERP goes both ways, which means all of the employees also sync over to Tipalti and remain as Not Payable. So the list is very long, and I don't find a good use for it.
Read full review
Likelihood to Renew
Precoro
No answers on this topic
Tipalti
Tipalti developed a workflow us that has improved our efficiency in onboarding vendors and processing payments. They also ensure that we have all the required tax forms from the vendor before a payment goes out.
Read full review
Usability
Precoro
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.
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Tipalti
The system is incredibly easy to use, with most tasks being completed in a small number of clicks. The user interface is very user intuitive and can be navigated very easily. Multiple payments can be made instantaneously and as the vendors manage their payable account we are able to ensure that payments are being sent to the right account. The advanced functionality for duplicate invoices ensures that we are not processing bills twice and we have found that in 100% of cases it has identified a duplicate bill.
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Reliability and Availability
Precoro
No answers on this topic
Tipalti
Tipalti has always been responsive to our questions and concerns.
Read full review
Performance
Precoro
No answers on this topic
Tipalti
No issues here. Generally has been pretty fast.
Read full review
Support Rating
Precoro
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.
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Tipalti
Since I also work in customer support, I often have to contact Tipalti's team with questions from our users. Tipalti's support team has always been exceptionally helpful and it was a pleasure to communicate with them. I have always received prompt responses to any inquiries and they are excellent at solving our customers' issues within a short time
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Online Training
Precoro
No answers on this topic
Tipalti
Tipalti provides great How to online guide
Read full review
Implementation Rating
Precoro
No answers on this topic
Tipalti
Implementation went smooth as we used and tested everything in the sandbox first
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Alternatives Considered
Precoro
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.
Read full review
Tipalti
Previously, our Company housed all invoices and approvals in NetSuite. This was a very clunky process which often resulted in duplicated work. Approvals were obtained through email and attached as a file to invoice records in NetSuite. Whereas, in Tipalti, you can view the entire audit history by simply clicking into an invoice.
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Contract Terms and Pricing Model
Precoro
No answers on this topic
Tipalti
I did not make the decision to purchase this product.
Read full review
Scalability
Precoro
No answers on this topic
Tipalti
We were given the option of only one integration.
Read full review
Return on Investment
Precoro
  • 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.
Read full review
Tipalti
  • Vendor onboarding has taken the responsibility from one person to the Vendor directly. This provides the vendor with the ability to enter their own banking information for payments and upload their Federal W9 form.
  • Vendors can upload their own invoices to the system, taking the possibility that our AP team did not receive an emailed or mailed invoice to upload. This also increases payment efficiency as the vendor's invoice is processed in a more timely manner.
  • AP can review invoices for accuracy and concentrate on how to code an invoice, rather than be a paper pusher or a data entry clerk. AP doesn't spend time searching for invoices that might be a duplicate, the system will communicate this on the software review process and if AP has uploaded by email the same invoice multiple times, an email will be sent to AP to indicate that the invoice was not uploaded due to duplication.
Read full review
ScreenShots

Precoro Screenshots

Screenshot of Purchase RequisitionScreenshot of Purchase Order ManagementScreenshot of The view of the Purchase Order: approval information, live budget information, and Supplier infoScreenshot of ConfigurationScreenshot of DashboardScreenshot of Budgets

Tipalti Screenshots

Screenshot of Intelligent invoicing workflowScreenshot of Mobile approvals for invoices and paymentsScreenshot of Brandable self-service supplier portal (including handling tax forms)Screenshot of Brandable self-service portal to collect and validate payment detailsScreenshot of Combined payment methods, currencies, and entities in a single payment fileScreenshot of an early payment, which can be offered to suppliers through email or the supplier portal