Overview
ProductRatingMost Used ByProduct SummaryStarting Price
Precoro
Score 6.8 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
Xero
Score 8.5 out of 10
N/A
Xero is an online accounting software product for small businesses and personal finance. Its features beyond general ledger and double-bookkeeping include quotable invoicing, bank reconciliation, purchase order and expense management, and tax management. Third party apps can extend its features further.
$13
per month
Pricing
PrecoroXero
Editions & Modules
Core
$249
per month (billed annually)
Automation
$999
per month (billed annually)
Suite
Individually Tailored Pricing
per year
Early
$13
per month
Growing
$37
per month
Established
$70
per month
Offerings
Pricing Offerings
PrecoroXero
Free Trial
YesYes
Free/Freemium Version
NoNo
Premium Consulting/Integration Services
YesNo
Entry-level Setup FeeNo setup feeNo setup fee
Additional DetailsPrices in table are in USD and just apply to the US - other markets & prices are listed below: Canada - Starter $18 CAD/month, Standard $45 CAD/month, Premium 5 $58 CAD/month UK - Starter £14/month, Standard £28/month, Premium £36/month AU - Starter $29 AUD/month, Standard $59 AUD/month, Premium 5 $76 AUD/month NZ - Starter $31 NZD/month, Standard $66 NZD/month, Premium $84 NZD/month
More Pricing Information
Features
PrecoroXero
Payroll Management
Comparison of Payroll Management features of Product A and Product B
Precoro
-
Ratings
Xero
7.6
73 Ratings
6% above category average
Pay calculation00 Ratings7.965 Ratings
Benefit plan administration00 Ratings8.123 Ratings
Direct deposit files00 Ratings7.549 Ratings
Salary revision and increment management00 Ratings7.441 Ratings
Reimbursement management00 Ratings7.254 Ratings
Customization
Comparison of Customization features of Product A and Product B
Precoro
-
Ratings
Xero
7.6
131 Ratings
10% above category average
API for custom integration00 Ratings7.879 Ratings
Plug-ins00 Ratings7.3118 Ratings
Security
Comparison of Security features of Product A and Product B
Precoro
-
Ratings
Xero
7.7
166 Ratings
2% below category average
Single sign-on capability00 Ratings6.672 Ratings
Role-based user permissions00 Ratings8.8164 Ratings
Reporting & Analytics
Comparison of Reporting & Analytics features of Product A and Product B
Precoro
-
Ratings
Xero
8.1
187 Ratings
8% above category average
Dashboards00 Ratings8.0183 Ratings
Standard reports00 Ratings8.3186 Ratings
Custom reports00 Ratings8.1165 Ratings
General Ledger and Configurable Accounting
Comparison of General Ledger and Configurable Accounting features of Product A and Product B
Precoro
-
Ratings
Xero
7.2
196 Ratings
1% below category average
Accounts payable00 Ratings8.8183 Ratings
Accounts receivable00 Ratings9.0184 Ratings
Cash management00 Ratings8.1167 Ratings
Bank reconciliation00 Ratings9.1191 Ratings
Expense management00 Ratings8.0173 Ratings
Time tracking00 Ratings8.063 Ratings
Fixed asset management00 Ratings7.9119 Ratings
Multi-currency support00 Ratings7.6113 Ratings
Multi-division support00 Ratings7.595 Ratings
Regulations compliance00 Ratings8.397 Ratings
Electronic tax filing00 Ratings8.9100 Ratings
Self-service portal00 Ratings7.8111 Ratings
Global Financial Support00 Ratings6.355 Ratings
Primary and Secondary Ledgers00 Ratings7.453 Ratings
Intercompany Accounting00 Ratings5.140 Ratings
Localizations00 Ratings8.039 Ratings
Journals and Reconciliations00 Ratings9.590 Ratings
Enterprise Accounting00 Ratings3.233 Ratings
Configurable Accounting00 Ratings4.359 Ratings
Centralized Rules Framework00 Ratings4.033 Ratings
Standardized Processes00 Ratings4.959 Ratings
Inventory Management
Comparison of Inventory Management features of Product A and Product B
Precoro
-
Ratings
Xero
6.3
89 Ratings
6% below category average
Inventory tracking00 Ratings6.485 Ratings
Automatic reordering00 Ratings6.524 Ratings
Location management00 Ratings6.529 Ratings
Manufacturing module00 Ratings6.116 Ratings
Order Management
Comparison of Order Management features of Product A and Product B
Precoro
-
Ratings
Xero
6.5
89 Ratings
10% below category average
Pricing00 Ratings6.562 Ratings
Order entry00 Ratings6.556 Ratings
Credit card processing00 Ratings6.858 Ratings
Cost of goods sold00 Ratings6.866 Ratings
Order Orchestration00 Ratings6.321 Ratings
End-to-end order visibility00 Ratings6.324 Ratings
Order exception Resolution00 Ratings6.317 Ratings
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PrecoroXero
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Score 8.7 out of 10
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Score 9.2 out of 10
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Esker
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Score 9.0 out of 10
Accounting Seed
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Score 8.4 out of 10
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Oracle Fusion Cloud ERP
Oracle Fusion Cloud ERP
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User Ratings
PrecoroXero
Likelihood to Recommend
9.6
(16 ratings)
8.6
(211 ratings)
Likelihood to Renew
-
(0 ratings)
10.0
(32 ratings)
Usability
7.3
(1 ratings)
8.8
(136 ratings)
Availability
-
(0 ratings)
9.0
(10 ratings)
Performance
-
(0 ratings)
10.0
(8 ratings)
Support Rating
9.1
(1 ratings)
9.3
(36 ratings)
In-Person Training
-
(0 ratings)
9.1
(1 ratings)
Online Training
-
(0 ratings)
10.0
(5 ratings)
Implementation Rating
-
(0 ratings)
7.3
(10 ratings)
Configurability
-
(0 ratings)
9.0
(1 ratings)
Ease of integration
-
(0 ratings)
6.7
(96 ratings)
Product Scalability
-
(0 ratings)
10.0
(6 ratings)
Vendor post-sale
-
(0 ratings)
9.0
(2 ratings)
Vendor pre-sale
-
(0 ratings)
10.0
(2 ratings)
User Testimonials
PrecoroXero
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.
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Xero
I recently had to Capture a Curators account on Pastel. this account is only done once a year, it's extremely tedious and time consuming. We used Pastel for the capturing as the account is not automated at all in terms of bank statements and we would have had to capture them in Excel anyway before we could import them into Xero. Using Pastel made this an easier process since you capture the Cashbook directly and it gets posted to the correct account. With Xero I would have needed to capture the entire account into Excel, upload the CSV file and then Reconcile this account AGAIN, making it double work. However, where Xero would have served us better, when needing to make adjustments to the account, in Pastel each entry needs to be journaled. This leaves the GL looking terrible. With Xero you can edit each transaction without leaving the GL looking like a train wreck and still have an audit trail. it would be beneficial for Xero to allow companies to be able to export and print their audit trail.
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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
Xero
  • Their method of moving between screens was very logical and intuitive which is not a "given" attribute among software packages.
  • Finding transactions was relatively easy with just common sense.
  • The use of this software was generally well received in that the accountants did not discredit the software as cheap, poorly organized, or timely to learn. No one at Corporate had a vendetta against using Xero.
  • It does a good job of allowing the users to drill down to the final detail of an account balance - which is fundamental to the accounting department's needs.
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
Xero
  • I would like to have the ability to sign up a holding company and all its trading entities under one subscription, in order to have amalgamated and separate accounting records and reports for each trading entity.
  • This is pertaining to my own Xero business clients: I would like to have a full featured, customizable practice client support /ticketing and task manager system, with reminders that can be sent to my clients and my team for various tasks due.
  • I would like Xero to have a cheaper option for their packages that include invoicing and related documents, as in my country we have options with an opposition accounting firm that offers a subscription where clients can create up to 2000 invoices per year for free.
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Likelihood to Renew
Precoro
No answers on this topic
Xero
In addition to the matters covered in this review, my reason for renewing this product is that Xero's functionality and the constant updates that the company provides, makes the software even more business friendly. The software therefore builds a brand loyalty among customers.
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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Xero
Xero has all the features that you need, basically. From chart of accounts, reconciling books, to making annual financial reports. What I'm currently looking for Xero right now is to provide more broader integration with the other apps so we can use it for customer-facing experience also. All in all, everything works well!
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Reliability and Availability
Precoro
No answers on this topic
Xero
We have been actively using and 100% Xero based for our ecommerce accounting practice for over 4 years. There has on been one real outage for more than 5 minutes. Xero was open and transparent about the outage, what they were doing to resolve the issue, and provided 15 minute updates. Showing how they care about their customers and partners. Plus, showing that their customers care too, were understanding, and went surfing or in our case took a nap. Couldn't run our business without Xero as a partner.
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Performance
Precoro
No answers on this topic
Xero
Pages generally load quickly, but it's a fairly common occurrence to have pages taking a bit longer than I'd like to load (as in, 4+ seconds). Occasionally I have to refresh a page to get it to work. Bank feed and integrations tend to be slow in general, but that could easily be due to API latency on the side of the other parties. Most of the time, though, the bank feeds refresh before I login so it's not a huge problem. Not necessarily good performance compared to a local app like QuickBooks desktop, but definitely good performance for a cloud application. Room for growth? yes.
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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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Xero
Always respond and keep issues open until you are satisfied with the result. Generally good responses, in the past, I had some support responses that were really basic and really annoying. They type where "have your tried restarting your computer" style of answers. Well, of course, I went through all the basics before contacting them. Duh, but I suppose not everyone does. Otherwise, it would be a 10. The last year has shown a marked improvement in the support responses however.
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In-Person Training
Precoro
No answers on this topic
Xero
The format was great; someone was there to ask questions or help if you were stuck.
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Online Training
Precoro
No answers on this topic
Xero
All of Xero's training is online and available for anyone (business owner or accountants) to learn and become experts in their system. There is a range of content from product training to real world webinars from their partners. Xero is beautiful accounting software and their training is the same.
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Implementation Rating
Precoro
No answers on this topic
Xero
If it can be done, time the implementation near a new fiscal year so you can start clean. Otherwise, you have to go back and do historical data from the beginning of the fiscal year, which can be brain draining.
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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
Xero
I've used a lot of different accounting systems. Many of them so big and powerful, but a hassle to get set up. Xero is light, inexpensive, and easy to use. When I originally selected them they seemed like they were developing new features at a quick rate as well. I was invited to be part of focus sessions to make the product better. That part has slowed down significantly though.
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Scalability
Precoro
No answers on this topic
Xero
I have yet to fully stress test the product given the size of the company where I am using it. I am sure as we scale to more customers, more vendors and more reporting requirements, I will have a better understanding of what it is capable of in terms of bandwidth and processing
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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.
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Xero
  • We have saved 1 hour per month on reporting on one of our not-for-profits, which is 12 hours a year at minimum from an investment of 30 minutes on initial setup.
  • On cleanup files, we are able to save at minimum half the time we would spend and be able to get them cleaned up and moved to a monthly file quicker
  • Using cash coding on one client as an example it would take us a week to do their bookkeeping last year it took me 8 hours from start to finish.
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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

Xero Screenshots

Screenshot of Screenshot of Screenshot of Screenshot of Screenshot of Screenshot of