Precoro vs. Workday Strategic Sourcing

Overview
ProductRatingMost Used ByProduct SummaryStarting Price
Precoro
Score 6.6 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
Workday Strategic Sourcing
Score 7.6 out of 10
N/A
Workday Strategic Sourcing, formerly Scout RFP, which was acquired by Workday in late 2019, is a collaborative, cloud-based solution that makes sourcing a strategic arm of the business by providing greater visibility throughout the entire sourcing and supplier engagement process. The solution boasts 300,000 users in more than 155 countries have who manage their spend with the application.N/A
Pricing
PrecoroWorkday Strategic Sourcing
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
PrecoroWorkday Strategic Sourcing
Free Trial
YesNo
Free/Freemium Version
NoNo
Premium Consulting/Integration Services
YesNo
Entry-level Setup FeeNo setup feeNo setup fee
Additional Details
More Pricing Information
Community Pulse
PrecoroWorkday Strategic Sourcing
Top Pros
Top Cons
Best Alternatives
PrecoroWorkday Strategic Sourcing
Small Businesses
MIP Fund Accounting
MIP Fund Accounting
Score 8.7 out of 10
BILL Spend & Expense
BILL Spend & Expense
Score 9.0 out of 10
Medium-sized Companies
Esker
Esker
Score 9.0 out of 10
Lola.com
Lola.com
Score 8.0 out of 10
Enterprises
Oracle Fusion Cloud ERP
Oracle Fusion Cloud ERP
Score 7.7 out of 10
GEP SMART
GEP SMART
Score 8.8 out of 10
All AlternativesView all alternativesView all alternatives
User Ratings
PrecoroWorkday Strategic Sourcing
Likelihood to Recommend
9.6
(16 ratings)
9.1
(2 ratings)
Usability
7.3
(1 ratings)
-
(0 ratings)
Support Rating
9.1
(1 ratings)
-
(0 ratings)
User Testimonials
PrecoroWorkday Strategic Sourcing
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
Workday
Scout RP is wonderful to help keep an RFP very organized. It is excellent to have a single version, so that all team members helping compile an RFP response have a single place to know that they are on the current version. If a company doesn't want to respond within Scout RFP, it's my understanding that the RFP information can be exported from Scout RFP, compiled in a different tool (like XLS), and then pulled back into Scout RFP for submission. From a collaboration standpoint, there's not an easy way to "assign" questions or items. Sometimes at my company, we need different experts to answer different questions. We have to use another tool, like email or Slack, to let that person know he/she needs to answer. However, in other tools, a certain block can be assigned to the person internally within the tool.
Read full review
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
Workday
  • Contract Pipeline
  • Contract Management
  • Supplier Onboarding
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
Workday
  • No way to flag where I need an internal colleague to review or add to an answer
  • No way to assign items to an internal team member for that person to answer a question
  • No status bar of the remaining items not yet answered
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.
Read full review
Workday
No answers on this topic
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.
Read full review
Workday
No answers on this topic
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
Workday
I have only used RFPIO to facilitate searching for RFP answers. I have used Scout RFP only to respond to customer RFPs. I assume they have functional overlap, but my interactions with each have not included this functional overlap. For each tool's respective use, I have found them very simple, intuitive, and helpful.
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
Workday
  • Contract Management has saved a ton of time and energy
  • Reporting has been helpful
  • Spend management has improved over time
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

Workday Strategic Sourcing Screenshots

Screenshot of