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    Best Procurement Software Solutions: 2024 Reviews

    procurement software solutions

    by ProcureDeskLast Updated : Dec-11-2023

    High-quality procurement software can automate end-to-end procurement workflows; they allow all of the teams in your organization to purchase from approved vendors, enable spend control, and save time on tasks like requisitions, invoice matching, and payments.

    When comparing these software solutions, there are factors to consider beyond features and pricing, including available integrations with accounting software, ease of use, implementation, and scalability — so you can successfully launch the solution, bring other users on board, and grow in the software.

    We put together this guide of the best procurement software and organized our recommendations per business size, so you can scroll to the section that describes you and compare the top options.

    We start with a review of our software, ProcureDesk, with features to support your teams’ workflows — from creating purchase requests to managing vendor payments. Our software supports procurement teams by serving as a hub where everyone in your organization can purchase from vendors without going over budget.

    We also offer free demos of ProcureDesk so you can see how our tools support the entire procurement process and enable you to work more productively with accounts payable teams. Book a time with our team here.

    ProcureDesk: User-friendly but scalable procurement software for small & midsize businesses

    ProcureDesk homepage: The Easiest Way To Implement Tighter Spend Controls

    ProcureDesk supports procurement and accounting teams by automating as much of their processes as possible, from creating purchase requests and generating POs to invoice matching and managing vendor payments.

    We design our features so they’re easy to use; teams small and large can learn the software without formal training.

    • Procurement managers can add approved vendors to the main purchasing dashboard. Then, users can select who they want to purchase with and interact with the site as they would from any normal internet browser. When they complete their order, they can send their cart to the procurement team for review.

    • Managers have full control over budgets and approval processes: they can set budgets for specific departments or users to prevent rogue spending, automate approvals for certain types of purchases, and design approval trees so purchase requests are sent to the right person(s) for review.

    • Orders (POs) from all vendors populate in the ProcureDesk dashboard for easy tracking and improved cash flow visibility.

    Our platform also has features to simplify vendor communications, connect purchasing and AP workflows, and manage accounts payable processes.

    Users can monitor POs from the time they’re sent until invoices are received and paid. Vendors can acknowledge and comment on POs directly in the system so users always know the status of orders (you can even add shipping information to track orders en route).

    After purchasers receive orders, they can import receipts and record any issues with their orders in the system. Then, the accounting team can reference these notes during invoice approval workflows.

    On that note, ProcureDesk allows AP teams to connect the emails they use to manage vendor relationships and consolidate new invoices in our dashboard. Our dashboard uses optical character recognition (OCR) to extract data from invoices and match them with the POs and receipts in our system. This three-way invoice matching enables immediate invoice reconciliation.

    Accounting teams can easily view new invoices with their corresponding POs and see if they’re approved to pay (and if not, what the issue is). Then, they can troubleshoot issues with vendors or import invoice data to the ERP and send payment. Payments are recorded in ProcureDesk, so AP teams know which invoices have already been addressed.

    Here’s a look at how our features work:

    Create Purchase Orders Automatically & Implement Spend Controls

    ProcureDesk: Supplier Catalogs

    ProcureDesk’s punchout catalogs make purchasing easy and improve the employee experience: employees can access the dashboard any time they wish to make a purchase and shop directly on vendor sites they already know how to use.

    punchout_catalog_experience

    Once employees build their order, the purchase request is created and visible to management within ProcureDesk. Since employees don’t have to copy over purchase details or create POs from templates manually, ProcureDesk ensures accuracy while speeding up the purchasing process.

    Obtaining approvals is simple, too. ProcureDesk automatically checks purchase requests against budgets and other criteria to prevent employees from submitting orders that don’t meet set requirements.

    Our system can automatically approve orders below specific amounts, from certain vendors, or that meet preset specifications. Otherwise, our team will work with you during onboarding to create approval trees so requests can be routed to the appropriate team members for review.

    purchase_approvals

    Users are instantly notified of new purchase requests so they can immediately approve orders, generate POs, and send orders to vendors (we even allow users to approve purchases on the go from our app).

    Pending Approvals

    See how Elgohar (a non-profit organization supporting communities with services like senior care and mental health programs) increased purchase transparency and compliance in our case study

    Send & Track POs to Avoid Back-and-Forth with Vendors & Support Invoice Processing

    Our online purchase order system can seamlessly push POs to vendors via integration, or our platform can generate and automatically send POs via email (depending on the type of integration the vendor provides). Then, vendors can provide status updates within the PO so you know when orders are acknowledged and fulfilled.

    Purchase Order numbers and information

    When the purchaser receives their order, they can log into ProcureDesk, add the receipt details, and note any issues with their order (received wrong quantity, items missing or damaged, etc.). This record enables our three-way invoice matching feature that supports AP workflows.

    Save Time by Automating Invoice Reconciliation with Three-Way Match

    Three-Way Match: Grainger example

    ProcureDesk automatically reconciles invoices by extracting the data and matching it with the correct purchase order and receipt; our system can analyze receipt details and notify users if invoices are ready to pay.

    ProcureDesk’s three-way invoice matching eliminates the need for AP teams to manually process invoices and reach out to co-workers when they have questions about orders. They have all the information they need, instantly available, to resolve supplier issues and prep invoice payments.

    Then, users can push invoice data to their ERP and send vendor payments. (We integrate with QuickBooks, Bill.com, Sage, NetSuite, Dynamic 365, and other accounting software.) Once the AP team sends payments, the status is updated in ProcureDesk so users can avoid duplicate payments.

    Invoice_paid_status

    Note: Invoice processing in most AP automation software is supported through two-way invoice matching (where the system matches only the invoice and PO). But this still leaves AP teams to manually validate orders before issuing payment — which can be super time-consuming if you’re processing dozens of invoices and have no easy way to reference receipts. Three-way invoice matching saves time and allows AP teams to send faster payments, which makes everyone happy.

    Dig Into Expenses, Control Purchasing & Optimize Budgets with Focused Spend Analytics

    Budget consumption report

    Our platform provides real-time cost control by allowing you to establish budgets (for different departments/users or by vendor or spend category) to prevent purchasers from accidentally overspending. Purchase orders automatically populate in the dashboard as they are created so management can see what users are purchasing and how much of their monthly budget remains.

    Procurement teams can pace and plan for purchases and avoid double orders, and accounting teams don’t have to wait until they receive invoices to know what the company is spending.

    Our reporting dashboard also lets you analyze spending on a broader scale. You can see stats like spend by category, spend by supplier, and spend by user, and you can adjust reports to view data over different time frames and pinpoint spending trends.

    Spend Dashboard

    Our reporting dashboard offers better visibility into spending and allows you to make more strategic financial decisions. For example, you understand when your business spends the most so you can plan appropriate budgets, or see who you spend the most with so you can re-negotiate vendor contracts for better deals.

    Read more: Procure to Pay Process Optimization: The Complete Guide

    ProcureDesk Pricing Options

    We offer three packages to support businesses with different needs and in growth stages.

    • Our Purchasing Automation package ($380/month) includes everything to purchase with vendors and manage POs. It does not include our three-way invoice matching or AP automation features. If you’re only interested in procurement management software, this package is best for you. You can book a demo of that plan here
    • The Purchasing & AP Automation package ($600/month) includes our complete procure-to-pay feature set and all the benefits discussed above. You can book a demo of our all-in-one plan here
    • We provide custom packages and quotes for enterprise businesses; these include a dedicated account manager and a vendor portal for advanced supplier management. If you’re interested in a personalized plan, you can schedule a call with one of our specialists here.

    All packages include complimentary white-glove onboarding; our team will handle software set-up so you can make the upgrade without hassle. We’ll meet with you to discuss integrations and purchase order approval processes so the solution is configured to your specifications.

    Note: Procurement software with tools to support accounts payable processes (like ProcureDesk!) are called procure-to-pay or source-to-pay solutions — as they support workflows through purchasing and managing payment.

    ProcureDesk Client Stories

    We’ve worked with biotech companies, educational institutions, nonprofits, amusement parks, and more. Check out some of our case studies below:

    • Coastal Flight Airline Academy wanted to move away from managing vendor orders in spreadsheets and switched to ProcureDesk because of our features to control purchasing, improve cash flow visibility, centralize POs, and solve the invoice matching problem. After moving to our software, they reduced invoice processing time by 30%. (Read more here.)

    • Cerebral Therapeutics uses ProcureDesk to improve operational efficiencies and spend analysis. Our platform allowed them to automate procure-to-pay processes so they could avoid hiring extra staff to support invoice management. Reporting features let them see expenses per vendor so they could negotiate contracts and forecast spending. (Read more here.)

    • Quantus upgraded to ProcureDesk from traditional procurement software as business grew and they required better solutions to control spending and streamline accounting processes. They used our system to integrate vendor catalogs, set purchase approval flows, automate invoice reconciliation, and optimize budgets. The result was significant cost savings. (Read more here.)

    Alternative Procurement Software: Recommendations by Business Size

    Below, we review other highly-rated procurement systems you may see as you shop. We’ve categorized our recommendations by business size:

    • Small & growing businesses: Tradogram, Order, & Precoro

    • Medium-size companies & emerging enterprises: Procurify & Kissflow

    • Enterprise & global teams: Coupa & Jaggaer

    For Small & Growing Businesses

    These solutions allow small companies to organize and automate some of their procurement processes without a lot of upfront investment or complicated implementations.

    Tradogram

    Tradogram homepage: A better way for procurement management

    Tradogram appeals to small businesses because the brand offers a freemium model, so businesses can try the software for free and upgrade to the Premium plan with more advanced features when needed.

    The free plan includes essential purchase order management and invoice tracking tools, but it limits you to five transactions per month and lacks essential features like approval routing and requisition features. You realistically need to invest in the paid package to make the best use of this software, but it’s a fine option to get started.

    Reviewers of the software noted a lack of training resources, so set-up and onboarding can be challenging, but they also note that Tradogram has a responsive support team and can customize the software to suit specific requirements.

    Notable Features

    • Unlimited number of suppliers and catalogs
    • Purchase order management
    • Invoice tracking
    • Project management
    • Inventory management
    • Expense management

    Pricing

    Tradogram offers a free plan (as discussed above) that supports one user seat. Their Premium Plan starts at $168/month and allows access to the requisition model, approval routing tools, budget tracking and reporting, integrations, mobile apps, and customer support. This plan supports up to 19 users.

    Tradogram also offers custom packages and pricing for teams with 20+ users — these plans include full account set-up and perks like punchout features.

    Order.co

    Order.co homepage: Simplify Purchasing, Payments, Budgets, and Approvals For Your Business

    Order.co offers a procure-to-pay solution with unique features like virtual spend cards to simplify purchasing. This software strives for convenience by allowing users to purchase from approved vendors on the fly or build custom carts with everything they need across all vendors. Order supports AP teams with invoice matching and advanced vendor management tools that allow them to consolidate invoices into one bill and pay all vendors in one swoop.

    Order’s feature set makes it best for small companies that usually purchase from e-commerce sites or partner with a limited number of vendors, and it works well for teams with small (or no) AP staff that are primarily interested in time-saving tools.

    Reviewers generally liked the platform’s ease of use and ability to create custom orders with all requested products — users can search by vendor or product and quickly add items to their cart. However, users note that correcting orders in the purchasing software can be tedious.

    Notable Features

    • Purchasing management to view and approve new orders
    • Custom carts to simplify purchasing — instead of shopping each vendor site individually, users can build carts by searching and adding products from all vendors.
    • Virtual cards
    • Payment features to consolidate bills & automate vendor payments
    • Reporting tools
    • Integrations with accounting software

    Pricing

    Order does not publicly disclose pricing; you can schedule a demo with them to receive a custom quote.

    Precoro

    Precoro homepage: Precoro helps companies spend smarter

    Precoro is budget-friendly procurement software with features to support procure-to-pay processes and extras like inventory management and contract management. Despite its larger feature set, some organizations may find the tools “basic” or lacking the same in-depth functionality as competitors; this is why it’s best for small businesses needing a more simplistic solution.

    Reviewers generally like the intuitive interface, but some users noted a desire for better inventory management functionality.

    Precoro’s primary features allow you to simplify all types of purchasing requests (e.g., new order requests, reimbursement requests, new vendor requests), control purchases and spending, automate AP tasks, and monitor all processes in one place.

    Notable Features

    • Supplier catalogs
    • Purchase request management
    • Approval workflows with workflow scenario builders
    • PO, invoice, and receipt management
    • Three-way invoice matching
    • Spend management tools
    • Reporting
    • Inventory management
    • Supplier management
    • NetSuite integration

    Pricing

    Precoro offers two plans: one for smaller teams and one for larger teams. Both plans include all features and support.

    The entry-level plan costs $35 per user per month and supports up to 20 users (you can use Precoro’s pricing tool to specify users and see your estimated charges). Larger teams must contact Precoro for “individually tailored pricing.”

    Read more: 7 Best Purchasing Management Software [In-Depth Review]

    For Mid-Size Companies & Emerging Enterprises

    These solutions come with more advanced automation and reporting features and solid vendor support — they’re best for established companies with procurement needs across multiple departments and locations.

    Procurify

    Procurify homepage: Intelligent Spend Management

    Procurify is a feature-rich P2P solution with artificial intelligence (AI) backed features to automate procurement and AP processes. The platform has over a hundred features to support procure-to-pay workflows, including virtual spend cards for employees, real-time budget visibility, integrations with ERPs like NetSuite and Sage, and more.

    Procurify offers all users the same features and benefits; pricing is based on business size — we place them in the category for growing businesses because Procurify offers more advanced features to manage operations and grow profitability (and packages for small businesses start at $1K/month).

    Notable Features

    • Purchase request management
    • Virtual spend cards
    • Approval workflows
    • Purchase order management
    • Invoice processing
    • Bill management
    • Payments
    • Budget control & tracking
    • Reporting
    • Vendor & contract management
    • Mobile apps
    • Integrations with ERPs (QuickBooks, NetSuite, Sage, Dynamics 365)

    Pricing

    Procurify offers four plans, you choose a plan by how many seats you need.

    • Small Business (less than 100 users): $1K/month
    • Medium Business (100-299 users): $2K/month
    • Procurify offers custom pricing for large businesses (up to 499 users) and enterprise teams (500+ users).

    Read more: 7 Procurify Alternatives (Budget-Friendly Purchase Order Software)

    Kissflow Procurement Cloud

    Kissflow Procurement Cloud homepage: Finally, a Procurement Platform that adapts to your needs

    Unlike the other solutions listed here, Kissflow is a general workflow management and process automation tool — however, they advertise themselves as a procurement software solution because the platform includes a procurement workflow module (Procurement Cloud).

    We include them because their software’s low-code versatility means it can work well for companies with a unique procurement process — you can customize Kissflow’s product any which way to support the workflows and operations relevant to your procurement team. Just note that this software does require a more labor-intensive setup — though Kissflow’s team is around to help — and is fully cloud-hosted.

    This product also works nicely for growing companies that need workflow management with process automation or a low-code app builder to support other operations (beyond procurement) because they can add Kissflow’s other modules.

    Users say the software’s customization is both a pro and a con: you can configure the platform to support countless workflows, but it has a steep learning curve and requires development knowledge.

    Notable Features

    • Strategic sourcing
    • e-Procurement tools, including assisted buying
    • Hosted and punchout catalogs
    • Purchase order management
    • AP automation, including three-way matching
    • Vendor & contract management
    • Inventory management
    • Mobile apps
    • Reporting & spend analytics
    • Integrations with Xero and QuickBooks
    • Webhooks & API

    Pricing

    Kissflow Procurement Cloud starts at $2,499/month: pricing is based on features, number of transactions, and user seats. We should note Kissflow bills annually and requires a 12-month contract.

    For Enterprise & Global Brands

    These procurement solutions are rather robust, with global capabilities, advanced automation tools, and features to improve spend control. They may be more complex to learn (and come at a higher price tag), but these brands earn good reviews, and their products offer dozens of benefits for users.

    Coupa

    Coupa homepage: Get the most value from your spend

    Coupa is a cloud-based spend management platform with features to support P2P processes and full procurement automation. Procurement teams can integrate the platform with supplier catalogs, users can create purchase requests in the system, and then procurement and AP managers can approve orders and process invoices.

    The platform isn’t drastically different from our solutions for smaller teams, but the features are more comprehensive, and Coupa offers extra functionality to support business growth (like strategic sourcing, cash and liquidity management, supply chain management, and third-party risk management).

    User reviews note the cash flow visibility and customizable workflows as positives, but some users caution that the integration process can be complex and the learning curve is steep.

    Coupa’s e-procurement solution has global capabilities and flexible ERP integrations, and they work with teams worldwide. However, due to the nature and complexity of the software, it’s best for fast-growing and enterprise teams.

    Notable Features

    • Open Buy — to save hosted and punchout catalogs, control spending, and make purchasing accessible to all users.
    • Purchase requisition tools
    • Purchase order software
    • PO collaboration tools
    • AP automation with two- and three-way invoice matching
    • SOW-based spend management
    • Budgets (to control spending)
    • Spend guard (to detect purchasing fraud)
    • Inventory management
    • Contract management
    • ERP integrations (with SAP, Oracle, NetSuite, and more)
    • Mobile apps
    • Reporting

    Pricing

    Coupa doesn’t list pricing on the website so customers need to contact them for a quote.

    Jaggaer

    Jaggaer homepage: The REVolution Begins With You - Unleash AI for Procurement Excellence

    Jaggaer is an e-procurement software and spend management solution best suited for global enterprises. Their platform has dozens of advanced features and AI tools, including one-stop purchasing, digital invoice capture, e-invoicing, compliance management, spend analytics, and payment solutions. Organizations can leverage this platform to optimize procurement processes, automate AP workflows, control costs, and manage supplier relationships.

    Jaggaer offers solutions for sourcing and contract management, supply chain management, procure to pay, and source to contract. As you might expect from a complex solution, Jaggaer has a bit of a learning curve, and users note longer implementation times; however, they also say Jaggaer’s team offers great customer support as you get started.

    Notable Features

    • Supplier network
    • Supplier management tools
    • Supply chain collaboration
    • eProcurement with one-stop purchasing — where users can shop hosted catalogs, punchouts, and internal inventory.
    • Invoice digital capture
    • Global e-invoice compliance
    • Payment solutions & integrations with ERPs (connect to any system)
    • Inventory management
    • Reporting & spend analytics
    • Sourcing
    • Contract management

    Pricing

    Jaggaer does not include pricing information on their website, but our experience and user reviews suggest this solution is one of the more expensive options on the list.

    Getting Started

    ProcureDesk procure-to-pay solution can support businesses of all sizes, but we’re especially popular for teams moving away from spreadsheets because we offer an easy-to-use system that supports the purchasing process and makes it easier to communicate with vendors and accounting teams.

    Our solution brings everyone under one roof: procurement managers, users making purchases, vendors fulfilling orders, and accounting teams processing invoices.

    • Users can purchase the items they need on their own time, without bugging managers or waiting forever to receive items. Plus, our platform is easy to use, so the purchasing process is smooth and simple.

    • Vendors can comment on orders directly in the system, so it’s easy to notify users if items cannot be fulfilled, and they don’t have to email with your team.

    • Admins can save time on tedious tasks like purchase approvals while keeping control over spending; then they can see where their procurement budget goes every month and make strategic financial decisions.

    • AP teams can quickly reconcile invoices and pay vendors (and our system automates most of this process so accounting teams can send payments with a few clicks).
    Schedule a free demo with our team to see if ProcureDesk can improve your business.
    Related reads:
  • Top 12 Procurement Software Benefits for Your Business
  • 9 Best Purchasing Software for Small Businesses
  • 5 Best Purchase Requisition Software [In-Depth Review]
  • What you should do now

    Whenever you’re ready… here are 4 ways we can help you scale your purchasing and Accounts payable process.

    1. Claim your Free Strategy Session. If you’d like to work with us to implement a process to control spending, and spend less time matching invoices, claim your Free Strategy Session. One of our process experts will understand your current purchasing situation and then suggest practical strategies to reduce the purchase order approval cycle.
    2. If you’d like to know the maturity of your purchasing process, download our purchasing process grader and identify exactly what you should be working on next to improve your purchasing and AP process.
    3. If you’d like to enhance your knowledge about the purchasing process, check out our blog or Resources section.
    4. If you know another professional who’d enjoy reading this page, share it with them via email, Linkedin, Twitter.
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