Today there are 293 different purchasing software. With so many options available, it can be difficult to determine which purchasing software is right for your business.
We spent 30 hours comparing the top 20 to find the seven best you can use to improve your purchasing process, implement tighter Spend controls and get instant cashflow visibility.
1. ProcureDesk – Best for small to medium-sized companies
2. Procurify – Best for medium size companies
3. Kissflow – Best for procurement teams that need a general-purpose purchasing software
4. Spendwise– Best for companies that are looking for an inexpensive purchasing software
5. Tipalti Approve – Best for companies that are only looking for purchase approvals
6. QuickBooks Online – Best for simple purchase order requirements without workflow
7. QuickBooks Desktop – Best for simple purchasing requirements and inventory integration
8. Xero – Best for companies that want purchase order functionality
9. Sage Intacct – Best for companies that need integrated accounting and purchasing software
Our Verdict — Best for small to medium-sized companies
Price: Starts at $380/month for 10 users
ProcureDesk helps small to midsize companies get tighter Spend control and better cash flow visibility through a cloud-based solution.
ProcureDesk helps organizations with procurement process automation by providing integrated purchasing and accounts payable software.
ProcureDesk is a cloud-based purchasing software. Though we provide the key features that are required for purchasing automation, ProcureDesk has invested heavily in simplifying the purchasing experience for our customer’s employees. We have done that by integrating our system with 100’s of e-commerce vendors’ websites so that our users don’t have to do redundant data entry for creating a purchase order.
Get it if you want the best purchasing software and are willing to spend some time identifying your top vendors for catalogs.
ProcureDesk is best suited for Biotech companies, professional services, and manufacturing companies that need catalog-based purchasing.
Purchase requisition:
With purchase requisitions, employees can easily create and track their purchase requests—no more paper requisitions for submitting purchase requisitions.
Instead of checking their emails, they can easily track what requisitions are already approved and which ones are pending approval.
The system also notifies the employee when the requisition is approved and when a buyer issues a purchase order to the supplier.
Requisitions are helpful in controlling Spend but also allow buyers in an organization to review and consolidate the spending.
Buyers save money on shipping by consolidating multiple requests from the same vendor.
Alternatively, Buyers can consolidate spending from multiple vendors to a single vendor to reduce the overall cost.
Requisitions are helpful when you have a buyer or procurement department.
Below is an example of a purchase requisition dashboard:
Just because you have an electronic form doesn’t make the process simple for employees.
They still have to remember all the fields they need to fill in, for example, cost codes, departments, etc.
We make that easier for your employees by using default values based on the user profile.
Punchout catalogs
If you are purchasing products or services from large retailers like Amazon, CDW, Office Depot, Office Supplies, to name a few, then a punch-out is the way to go.
With a punchout, an employee can create a requisition in a few clicks without copying the data from different websites into the requisition cart. This increases the operational efficiency of the entire procurement process.
Let’s take an example of Amazon:
Wasn’t that easy?
Now, if you are wondering, what about my other suppliers? Don’t worry.
We support 100+ vendors. We are continuously adding new vendors to the punchout process.
We work with you to set up new punchouts, and there is no charge for that.
Self-created catalogs
Sometimes, a vendor doesn’t have a punchout catalog, or you are not too big enough for them to issue you a punchout account.
In such cases, you can create the catalog yourself and use that to enable easy purchasing for your employees.
To create an internal catalog, you need to ask your vendor for the most commonly purchased items and the latest pricing for those items.
You then put those items in our catalog template like this:
And then upload the items into Procuredesk to create a new catalog.
Here is how an internal catalog looks:
The user has to click on “Add to cart” to add an item to the purchase request from the catalog.
Budgets
Budgets allow you a mechanism to control costs and keep spending under budget.
Here is how it works:
You first set up a budget in the system. The budget can be by department, project, cost center.
We offer a flexible budget hierarchy to make it easy to create a structure that best suits your needs.
Here is how you create a budget:
Once you create the budget, the system will prompt the user to select the budget while creating a new purchase request.
The user can quickly see the available budget before placing the request.
You can now set up the budget controls so that the system blocks a purchase if the purchase amount is greater than the budget. That’s all you need for budget tracking.
Project-based budgets
Sometimes you need granular budget controls, especially if you have a project.
For example – if you are a marketing agency or a construction company, you want to ensure that the expenses don’t go over the budget that the customer allocates.
You might want to track the budget for the different activities you need to do for a project.
For example, you are working on a marketing website revamp project.
Then the line items could be:
And here is how you can set up a project budget to control that:
When a requester allocates expenses to the project, they can assign it to the correct line in the project budget.
You can then easily track the budget consumption against each line, including all the purchase orders issued against that project.
Approval workflow
Do you have a purchasing policy with an approval matrix?
Then you know how hard it is to ensure that employees follow the policy and get approval at the right authorization level.
You don’t have to worry about non-compliance with the policy with approval workflows.
Here is how simple it is:
First, set up a purchase approval workflow, letting the system know how to route the request based on different conditions. i.e., custom approvals based on your purchasing policy.
For example, you need two people to approve a request over $50,000.
Here is an example of how you can set that up in the system:
Once you configure the approval process, ProcureDesk would route employees to the correct person based on the predefined business rules or approval thresholds.
Omnichannel approval
The biggest issue with approvals is that managers forget to approve. They are probably too busy, out traveling in the field, or just forgetful 🙂
To solve this issue, we allow users to approve in a way that works best for them. This results in quick approvals.
We have three ways to approve a purchase approval request.
Emails:
You can directly approve a purchase request from your email. You don’t need to log in to the system for approval.
The email provides you with all the details you need before deciding on a purchase request.
Mobile App:
With the mobile app, you can approve on the go!
Just download the ProcureDesk mobile app from the Apple App Store or Google play store, and you can approve your purchase requests from anywhere.
Web app:
With the web app, you can log in to ProcureDesk and approve or reject the purchase requisition.
Here is how to do that:
Workflow setup should be easy to set up and manage. Schedule a demo with our team and see how easily you can configure your approval matrix in ProcureDesk.
Purchase order
After the purchase requisition is approved, a buyer can convert a purchase request into a purchase order.
A purchase order would contain the terms, and details of what is purchased, where it needs to be delivered, and when.
Here is an example of a purchase order:
Purchase order management allows you to convert the purchase requisition into a purchase order automatically.
To ensure that the vendor delivers the orders on time, we do the following:
Here is how easily you can track order delivery status:
Purchase order acknowledgment
Once the order is delivered, you want the vendor to acknowledge the order.
Vendor acknowledgment of the order is essential for two reasons:
You can either ask the vendor to acknowledge the order by email or ask the vendor to submit the order acknowledgment using ProcureDesk.
The vendor submits the status of the overall order or the status for each line.
Here is an example of how the vendor can acknowledge an order:
As the vendor accepts the PO, ProcureDesk updates the order’s status as acknowledged.
Order tracking
With order tracking, employees can track the shipment of the product.
Here is a simple way to add the tracking number and the carrier details in ProcureDesk.
The vendor can provide the tracking information directly in ProcureDesk, or you can update the information in the system.
Once the tracking information is in the system, the system will track the status changes and let you know when the order is delivered.
Receipts
Once you have received the order, you can create a receipt to confirm the delivery of the product.
You can create partial receipts as well as full receipts.
You can also track serial numbers and asset tags. ProcureDesk is not an Asset management system. However, it is easy to track asset costs by storing the data here and exporting it to whatever system you need.
Here is an example of how you can create a receipt:
Now, what happens if you are not in front of your computer, no worries, we also have a mobile app.
With the mobile app, you can easily create a receipt and take a picture of the packaging slip from the app.
After the user selects the order, the system prompts for some basic information, and then you can submit the receipt for matching.
Dashboard and Reports
You have all the purchase orders in one place, but it is useless if you can’t report on it.
There are two ways you can get complete cash flow visibility, through the management dashboard and inbuilt reports.
For example, you get real-time visibility of what you are buying, from who you are buying, who is buying, and what terms.
Here is a snapshot of the Spend dashboard:
You can also track your monthly spend trends to know your exact burn rate.
Here is a snapshot of the monthly burn rate.
With reports, you can see all your data in one place.
We have over 30 different reports to give you complete visibility into your spending.
Here is a sample open order report:
You can also download the data into a spreadsheet for further analysis.
Strong access control
Want to ensure tighter access controls? We got you covered.
With the ProcureDesk access management module, an administrative user can set up roles based on their access needs.
For example, an AP clerk can only input invoices but can’t create purchase orders because that might lead to fraud.
With robust access control, you can prevent procurement fraud.
Here is an example of how easily you can set up access controls for your company.
Free implementation
We added this as a feature because we believe that even though it is a cloud solution, it is our job to ensure that the system meets your requirements, and we support you in driving the adoption.
Here is how we do that:
And did we mention that it is completely Free?
Now you might ask, why do you need training if your solution is intuitive?
That is a valid question, and we have realized that even though the product is straightforward, you want to use the training time to ensure that your end-users understand the new process.
You should explain to the team the objectives of purchasing automation.
Real-time seamless integration
We ensure that you don’t worry about syncing data with your account package with real-time integration.
Whether you are a small business using QuickBooks, Xero, or a medium-sized company using Sage Intacct or Netsuite, we got you covered.
The integration process is easy to set up and takes only a few minutes.
Unlike other systems where you have manually synced the data, we automatically take care of this—no need to press buttons to sync the data.
ProcureDesk offers three pricing plans:
Schedule a demo and see how ProcureDesk can help you streamline purchasing.
Our Verdict — Best for medium-sized companies
Price: Procurify doesn’t list pricing on its website.
Procurify is a cloud-based procurement solution that helps forward-thinking organizations empower their teams for success by making business spending intelligent and straightforward. It provides tools for control & visibility across the organization.
Complete spend management platform along with integrated virtual cards for ad-hoc expenses.
Limited support for punchout catalogs. There is only a limited set of punch-out vendors at the present moment.
Best for companies that are looking for a complete spend management tool and an integrated virtual card solution.
Procurify doesn’t mention pricing on its website. But they do offer a complete procure-to-pay automation solution.
Here are the multiple packages on their website. You can call the vendor to get a price quote.
Our Verdict — Best for companies wanting an all-one workflow management tools
Price: Starts at $1990/month
Kissflow, at its core, is a workflow engine that helps automate different processes in an organization.
They have a separate module for Procurement called Procurement Cloud.
Strong configuration capabilities so that you can create a custom purchase order form.
No support for punchout catalogs and limited order tracking capabilities.
Kissflow is best for companies that want a single solution to automate their business processes, including procurement. The procurement platform is one of the many products offered by Kissflow.
Kissflow procurement cloud pricing starts from $1990/month and varies by volume and transactions.
Our Verdict — Basic purchasing tool at an affordable price
Price: Starts at $9/month
Spendwise is a web-based application that allows you to manage purchase orders effortlessly, inventory, invoices, bills, and expenses
SpendWise offers a simple system for basic purchasing needs.
Limited integration with other accounting packages.
Spendwise is a great option for companies that are looking to streamline their entire purchasing process and not looking to spend a lot of money. It allows basic functionality to automate the purchasing activity.
Pricing starts at $9/user/month for the basic package and goes up to $19/user/month.
Our Verdict — Lightweight approval process for Netsuite customers
Price: Check with the vendor for pricing.
Tipalti is primarily a payables automation solution with a solid background in payments, including global payments. They recently launched a new product called Tipalti approve, and we thought it could be a worthy addition to our list of software options.
Tipalti offers strong integration with Netsuite.
Based on customer reviews, the User interface is not that strong and could use some improvements.
Tipalti is best suited for companies using Netsuite and looking to add a simple interface for approvals.
Here are the key features of Tipalti approve
1. Purchase request: The purchase request module allows employees to create purchase requests.
2. Approval flows: The purchase request can be routed to different department owners or budget owners with approvals.
3. Purchase orders: Purchase orders get generated after a purchase request is approved.
4. Vendors: Set up new vendor workflows to onboard new vendors through the AP team process.
5. Reports and Dashboards: Get a complete view of your company expenses with reports and a dashboard.
6. Integration only limited to Netsuite: It seems like the integration is limited to Netsuite only; we recommend that you work with the vendor to understand the integration options.
Tipalti doesn’t mention the pricing on their website.
Our Verdict — Best for simple purchase order use cases when you don’t need inbuilt approvals.
Price: Starts at $30/month for a single user
QuickBooks online is the most widely used accounting package for small to medium-sized businesses.
The tool offers a complete accounting package, but we are only focused on the purchase order capabilities in this article.
QuickBooks Online provides a simple interface for creating purchase orders.
QuickBooks accounting system lacks granular access controls. It is not possible to restrict access only to the purchase order functionality.
QuickBooks is best for companies that issue limited purchase orders to vendors. It is not a good solution for controlling spending.
QuickBooks offers affordable packages starting at $30/month for a single user.
Here is an overview of the different packages:
Our Verdict — Best for companies that need purchase orders with inventory module
Price: Starts at $1740/year
QuickBooks online is the most widely used accounting package for small to medium-sized businesses.
The tool offers a complete accounting package, but we are only focused on the purchase order capabilities in this article.
QuickBooks offers a simple tool for creating and tracking purchase orders. It is especially great for companies that sell inventory items—for example, retail shops, e-commerce stores, etc.
QuickBooks enterprise is a desktop application, so every user needs to have the application installed in their machine.
QuickBooks Enterprise is a robust solution for small companies that stock and sell inventory items.
QuickBooks desktop is an annual subscription, and you per user.
Here is the pricing for one user:
Our Verdict — Lightweight procurement functionality that doesn’t break the bank.
Price: Starts at $13/month per user, with discounts available for larger teams.
Xero is an online accounting software designed for small businesses. It offers a comprehensive suite of features, including purchase order creation and approval workflows. Xero also provides project expense tracking and reporting capabilities to help you manage your spending.
Xero purchase order functionality is part of the accounting package, so there is no additional cost for purchase order functionality.
Xero is not a best-of-breed procurement solution. So it lacks features like catalogs, approvals, and automated order tracking.
Xero is best for startups requiring minimal purchase orders and where the accounting team can enter the purchase orders instead of end users.
Our Verdict — Integrated accounting and purchase order package
Price: Please get in touch with the sales
Sage Intacct is a cloud-based accounting package that offers diverse features to handle different requirements from small to mid-market companies.
Sage Intacct provides an integrated purchasing and accounting package. The integrated package works well if you are not looking to add on a best-of-breed procurement management solution.
Sage Intacct offers limited purchase order capabilities. It lacks catalogs or orders tracking, a common functionality for best-of-breed procurement solutions.
Sage Intacct is a good option for small to medium-sized companies who don’t need a sophisticated purchasing system.
Sage Intacct offers customized plans to suit your needs, but you must reach the vendor to get a price quote.
Purchasing software automates the purchasing process from a purchase request to issuing a purchase order to the supplier.
Purchasing software allows you to track the purchase order lifecycle, including order acknowledgment by the vendor, and shipping and delivery confirmation by the supplier.
Purchasing software doesn’t cover the AP (Accounts Payable) functionality that includes processing supplier invoices and matching invoices with a purchase order.
In our comparison, we have only included the purchase order features. However, most of these software vendors do provide AP automation features.
To recap, here are the best purchasing software to try this year:
1. ProcureDesk – Best for small to medium-sized companies
2. Procurify – Best for medium size companies
3. Kissflow – Best for procurement teams that need a general-purpose purchasing software
4. Spendwise– Best for companies that are looking for an inexpensive purchasing software
5. Tipalti Approve – Best for companies that are only looking for purchase approvals
6. QuickBooks Online – Best for simple purchase order requirements without workflow
7. QuickBooks Desktop – Best for simple purchasing requirements and inventory integration
8. Xero – Best for companies that want purchase order functionality
9. Sage Intacct – Best for companies that need integrated accounting and purchasing software
We recommend ProcureDesk if you are looking for a best-in-breed purchasing software that is affordable and easy to use.