Procurement Software

TrustRadius Top Rated for 2023

Top Rated Products

(1-4 of 4)

1
MIP Fund Accounting

MIP Fund Accounting™ is a configurable fund accounting solution. The solution includes functionality for fund accounting, procurement, budgeting, payroll, human resources, timekeeping, fixed asset management, grant management, and dashboards for nonprofits and government agencies.…

2
Precoro

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…

3
SAP Ariba Procurement

SAP Ariba's Procurement capabilities are to provide innovations in guided buying and spot buy, plus supplier and catalog enablement, and integration with Ariba Network – which the vendor states is more than 4.6 million connected companies strong and growing.

4
Tipalti

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.

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(1-25 of 316)

1
MIP Fund Accounting

MIP Fund Accounting™ is a configurable fund accounting solution. The solution includes functionality for fund accounting, procurement, budgeting, payroll, human resources, timekeeping, fixed asset management, grant management, and dashboards for nonprofits and government agencies.…

2
Oracle Fusion Cloud ERP

Oracle Cloud Enterprise Resource Planning (ERP) is a core suite of Oracle Cloud software-as-a-service (SaaS) applications. Oracle Expense Management and Oracle Risk Management are part of this solution. Other apps include Financials, Revenue Management, Accounting Hub, PPM, and…

3
SAP Ariba Procurement

SAP Ariba's Procurement capabilities are to provide innovations in guided buying and spot buy, plus supplier and catalog enablement, and integration with Ariba Network – which the vendor states is more than 4.6 million connected companies strong and growing.

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4
Tipalti

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.

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5
Oracle PeopleSoft ERP

Oracle's PeopleSoft ERP (or PeopleSoft FSCM) is a software solution used to reduce costs by automating and centralizing global transactional processes and the enterprise entire supply chain. Oracle states they have extended support for PeopleSoft to 2034.

6
JAGGAER

JAGGAER is a procure-to-pay provider in the higher education and government sectors. JAGGAER eProcurement and strategic sourcing customers gain access to suppliers on a scalable, customizable platform. The JAGGAER SaaS-based, source-to-settle solution provides unparalleled visibility,…

7
Coupa

Coupa’s cloud-native Business Spend Management (BSM) platform provides end-to-end processes that helps drive collaboration across for every business leader from supply chain, procurement, finance, treasury, compliance, and IT and supply chain leaders to help their companies to get…

8
Zip Intake-to-Procure

Zip provides a place for employees to initiate a purchase or vendor request. Each request is routed for approval across procurement, finance, IT, data security, legal, and other teams, and Zip integrates into ERP and P2P solutions to create a PR or draft PO. The vendor states Zip…

9
Airbase

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.

10
Esker

Esker is a global cloud platform built to unlock strategic value for finance and customer service professionals and strengthen collaboration between companies by automating the cash conversion cycle. Esker’s mission is to build a foundation that promotes positive-sum growth, increased…

11
Precoro

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…

12
SAP Business Network

SAP Business Network is a comprehensive B2B collaboration platform that connects people, processes, and systems across multiple enterprises, digitizing transactions, and creating transparent, resilient, and sustainable supply chains.

14
ProcurementExpress.com

ProcurementExpress.com is designed for small to medium-sized companies to gain full control of purchasing. Team members raise requests against specific pre-defined budgets. Managers approve, decline, or comment on requests - straight from their inbox. Once approved, team members…

15
GEP SMART

GEP SMART is a procurement platform, meant as an end-to-end unified procurement solution that provides synergy between finance and purchasing and process fluidity.

16
EstimateOne

EstimateOne is where the Australian commercial construction industry meet during tender time. The vendor boasts being the biggest public tender noticeboard in Australia. EstimateOne aims to help subbies find and manage upcoming work opportunities that are relevant for their trade.…

17
Basware Procure-to-Pay

A solution for all purchase order sources by integrating into any existing procurement or ERP system, with an e-Invoicing solution to automate invoice capture, touchless accounts payable automation, and e-procurement natively integrated.

18
RFP360

RFP360, from Responsive (formerly RFPIO) is used by organizations to request information, respond to requests and connect, aiming to make the RFP and proposal process more efficient, effective, collaborative, consistent and repeatable for everyone.

19
Fourth Procurement and Inventory

Fourth Procurement and Inventory is software that ties together procurement, 3-way matching, inventory and recipe control. It’s fully integrated, mobile-friendly and can be accessed with a single login. Using predicted sales functionality and analytics, it lets the user forecast…

20
CoreIntegrator Workflow

CoreIntegrator in Hummelstown provides AP Automation, built on the CoreIntegrator Workflow platform their solution provides organizations with made-to-order forms and workflows to meet purchasing workflow needs. Automate the Purchasing Department by streamlining Purchase Requisition,…

21
E2open

E2open’s network is powered by a broad portfolio of intelligent applications including Channel Shaping, Demand Sensing, Business Planning, Global Trade Management, Transportation and Logistics, Collaborative Manufacturing and Supply Management

22
Procurify

Procurify is a cloud-based purchase order approval workflow software. It is used by organizations of all sizes to track purchase orders from creation to final delivery.

23
Zycus Procure to Pay

A guided buying P2P solution with AI, that helps to ensure consistency, and that helps users make the best buying decisions, using a more intuitive shopping experience.

24
Acquirell

Acquirell is a SaaS procurement technology suite solution tailored to SMBs. Acquirell enables businesses to save the time of their procurement teams by eliminating manual workflow and automating the procurement process. The E-Sourcing module of Acquirell enables the companies to…

25
Anvyl

Anvyl headquartered in New York offers their supply chain production and procurement suite of software, supporting SKU and order management with order details down to each part, supplier, and itemized cost, workflows for sourcing and production, logistics monitoring, and an integrations…

Videos for Procurement Software

Your Guide to Procurement & Sourcing Software
02:19
Procurement software could potentially make your job much easier. We take a look at some of the different types of software options available.
Which is the Best Procurement Software? (SAP Ariba, GEP Smart, Procurify, Coupa)
05:26
When it comes to procurement, software and needs can be massively varied. From large and complex needs like larger enterprises to smaller and simpler processes - tools like Procurify, Coupa, GEP Smart, or SAP Ariba can meet and exceed business needs.

Procurement Software TrustMap

TrustMaps are two-dimensional charts that compare products based on trScore and research frequency by prospective buyers. Products must have 10 or more ratings to appear on this TrustMap.

Learn More About Procurement Software

What is Procurement Software?

Procurement software centralizes and automates the process of purchasing materials and replenishing inventory. Most procurement software has expanded its scope to allow companies to manage all aspects of the procurement process on a single platform. This centralization is often referred to as “source-to-pay” or “procure-to-pay.” Most procurement software focuses on procuring hardware and material assets, rather than software or SaaS subscription management.

Procurement management software provides several key benefits. It centralizes the purchasing, invoicing, and documentation processes, which can generate immense efficiencies for larger organizations and production-focused businesses. It also gives businesses better visibility into their spend patterns and management, catching wasted spend or suspected fraudulent spending in the process.

Given the broad scope of procurement software, it entails a wide range of capabilities. All procurement software will provide businesses the ability to manage suppliers and invoicing, digitally manage the accompanying documentation, and establish some level of automated workflows to streamline procurement.

It is related to inventory management or warehouse management and might possess similar features. Some ERP platforms and accounting suites also offer various procurement features. Additionally, procurement is an essential component of supply chain management and may be available via supply chain management suites. Often is used by larger enterprises, but procurement software for SMBs exist.

Procurement Software Capabilities

Procurement software will vary in terms of the range of features each product offers. Some will be more focused on spend analytics and management, while others will emphasize supplier management and documentation. However, procurement software should usually include most or all of these feature areas:

  • Invoicing automation
  • Documentation support, including RFPs, purchase orders, etc.
  • Contract management
  • Request and approval process workflows
  • Supplier management
  • Integration with budgeting mechanisms
  • Supply chain management integration, including order and inventory management
  • Spend/expense management and analytics

Procurement Software Comparison

There is a range of factors to evaluate when comparing different procurement software. Consider these aspects of each product:

  • Point solution vs. broader suite: There are a number of procurement-focused point solutions available to businesses. However, other financial products, such as ERP platforms and accounting systems, also offer procurement capabilities to varying degrees. Consider whether the business needs particularly robust or specialized procurement features, or if existing financial systems are lacking the necessary procurement functions. If so, a point solution may be the best option. Otherwise, finding broader financial suite that natively integrates procurement with other financial services may be more efficient.
  • Analytics and Reporting: Procurement software has developed more extensive native reporting tools around spending, inventory, and efficiency. However, not all procurement software has invested in analytics to the same degree, or around the same functions. Buyers should determine where additional visibility into their data is most needed, and gauge procurement software’s analytics in that area first.
  • Customization: Businesses can vary dramatically in their exact procurement environments, from the materials being sourced to the necessary approval processes to the reporting features that are most valuable. Buyers should consider both how easily each product can be customized to their initial needs, as well as how flexible and adaptable the software’s workflows, documentation, and other features are as business needs change over time.

Start a Procurement software comparison

Pricing Information

Pricing information is not often publicly available for procurement software. Instead, it is usually available on a case-by-case basis by quote from each vendor. Some public figures and estimates can range from $25/user/month to thousands or tens of thousands of dollars for a company-wide license.

Pricing usually scales up by the scope of the business, either in the volume of transactions or dollar value of the transactions), as well as the specific features offered at each pricing tier. Many procurement software products also come with an implementation fee.

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Frequently Asked Questions

Who uses procurement software?

Procurement software is used by companies that have large resource purchasing requirements, such as manufacturing, production, and retail industries. It is commonly used by financial specialists or procurement managers in these companies.

What suites are procurement features found in?

Procurement capabilities are most commonly found as standalone products or in Enterprise Resource Planning platforms. They can also be found in large-scale accounting systems.

What does procurement software do?

Procurement software allows companies to centralize the procurement process onto a primary platform, from sourcing and managing suppliers to automating workflows and invoice processing.

What is a “source to pay” system?

A “source to pay” system is designed to encompass the entire procurement process, from seeking out suppliers to paying suppliers post-delivery. It has become the standard model for standalone procurement software.

How much does procurement software cost?

Procurement software pricing varies dramatically depending on the scale of the business, features listed, and the number of users. Pricing can start out at $25/user/month, but can be much more expensive.