Procurement Software

Compare All Procurement Software

Filters

Apply Filters:

X

Your Industry

Your Company Size

Price

Sort by

Recommendations: Sorts listings by the number of recommendations our advisors have made over the past 30 days. Our advisors assess buyers’ needs for free and only recommend products that meet buyers’ needs. Vendors pay Software Advice for these referrals.
Reviews: Sorts listings by the number of user reviews we have published, greatest to least.
Sponsored: Sorts listings by software vendors running active bidding campaigns, from the highest to lowest bid. Vendors who have paid for placement have a ‘Visit Website’ button, whereas unpaid vendors have a ‘Learn More’ button.
Avg Rating: Sorts listings by overall star rating based on user reviews, highest to lowest.
A to Z: Sorts listings by product name from A to Z.
Showing 1 - 20 of 147 products
Filters
Showing 1 - 20 of 147 products

Tipalti

Tipalti is a cloud-based accounting management solution that helps users automate their accounts payable process. It offers a variety of features, including invoice automation, payment remittance, regulatory compliance management,...Read more

4.62 (73 reviews)

Bellwether PO and Inventory

Bellwether Purchasing Software is an on-premise and cloud-based purchasing and inventory management solution. Primary features include requisitions, approval routing, purchase order management, receiving, invoice matching, invento...Read more

4.74 (46 reviews)

WebReq

WebReq is a procurement management software designed to help businesses manage invoicing, expenses, claims, budgets, credit card allocations and purchasing processes. The platform enables administrators to capture, approve, track ...Read more

5.00 (3 reviews)

Odoo

Odoo Point of Sale (POS) is part of Odoo’s integrated suite of business applications. The module is available both on and offline and provides unified data across stores and has an integrated inventory management function. Od...Read more

Kissflow Procurement Cloud

Kissflow Procurement Cloud is ideal for companies that are either transitioning from manual procurement management tools, implementing a solution for the first time, or replacing disparate point solutions. With Kissflow, businesse...Read more

4.27 (11 reviews)

Promena e-Sourcing

Promena e-Sourcing is a cloud-based auction management, sourcing and procurement platform. It supports strategic solutions, such as request for information (RFI), request for proposal (RFP), request for quotation (RFQ) and e-aucti...Read more

4.96 (23 reviews)

COVALYZE

Tired of waiting weeks for supplier quotes? Tired of negotiating prices without competitive benchmarks? COVALYZE automates negotiations in way teams have never seen before. It keeps all global category data in one place, target pr...Read more

No reviews yet

Precoro

Precoro is a cloud-based purchasing software that streamlines procurement processes for SMBs and Enterprises. Key features include purchase order creation and delivery, blanket PO, visual analytics on spends by departments, billin...Read more

Slingshot Enterprise Business Suite

The Slingshot Enterprise Business Suite is a web-based enterprise resource planning (ERP) software suite designed to serve mid-sized to large businesses. The system serves retail, distribution, manufacturing, financial services, p...Read more

4.33 (3 reviews)

Learn More

iBuyer

SicommNet's iBuyer solution offers best-of-breed Procurement, and is compatible on any device, including iPads. iBuyer monitors purchases throughout the entire procurement process....Read more

0.00 (1 reviews)

Learn More

Software pricing tips

Read our Procurement Software Buyers Guide

Subscription models

  • Per employee/per month: This model allows you to pay a monthly fee for each of your employees.
  • Per user/per month: Users pay a monthly fee for users—normally administrative users—rather than all employees.

Perpetual license

  • This involves paying an upfront sum for the license to own the software and use it indefinitely.
  • This is the more traditional model and is most common with on-premise applications and with larger businesses.

Rated best value for money

JD Edwards EnterpriseOne

Oracle JD Edwards EnterpriseOne is an enterprise resource planning software with primary features such as real estate management, human capital management, environmental health and safety and commodity trading. What is JD...Read more

Learn More

GEP SMART

SMART by GEP is an end-to-end, web-based procurement solution that offers supplier management, contract management, spend analysis, and more. It's compatible on Windows, Mac, and iPad....Read more

4.60 (5 reviews)

Learn More

Workday Strategic Sourcing

Scout is a SaaS-based program built for enterprise sourcing. Companies are able to collate, score, and present RFPs, RFQs, and RFIs with this standalone system....Read more

4.67 (3 reviews)

Learn More

eBuyerAssist Platform

eBuyerAssist by Eyvo is a cloud-based procurement solution that caters to businesses across various industry verticals, which helps them to manage their purchasing routines, from requisition to fulfillment. eBuyerAssist featu...Read more

4.88 (69 reviews)

Learn More

DeltaBid

DeltaBid E-Procurement is a cloud-based supply chain solution that offers supplier management, procurement and strategic sourcing features. It enables users to store procurement-related information at one place which helps them co...Read more

4.00 (3 reviews)

Learn More

Vroozi Procurement Platform

Vroozi Procurement Platform is a cloud-based solution for handling enterprise purchasing needs. The solution can be integrated with enterprise resource planning (ERP) and SCM suites via Open APIs. Vroozi also partners with a third...Read more

4.33 (3 reviews)

Learn More

Market Dojo

Market Dojo is a cloud-based strategic sourcing and supply chain management solution. Key features include event management and auction planning, user management, reporting and white labeling. RFX functionality helps users to run...Read more

4.63 (79 reviews)

Learn More

ProcurePort

ProcurePort is a unique, customizable eProcurement and eSourcing solution that allows users to view and manage the entire procurement process in one interface. It is available on-premise or web-based, and can be used on an iPad....Read more

4.67 (12 reviews)

Learn More

Dynamics 365

Microsoft Dynamics 365 is a cloud-based CRM ecosystem for small, medium and enterprise organizations, with a focus on Sales, Field Service, Customer Service complete with strong integrations with Microsoft’s other Office 365 offer...Read more

Learn More

Gatekeeper

Gatekeeper is a cloud-based vendor and contact management solution. Key features include automated alerts, customization and collaboration tools and integrations with other software. Users can manage contracts and vendor in...Read more

4.77 (43 reviews)

1 recommendations

Learn More

Popular Procurement Software Comparisons

Buyers Guide

Last Updated: March 10, 2022

Procurement software solutions vary in terms of functionality, pricing and core technology. The ideal solution enables organizations to control budgets, cut costs and enhance transparency in the approvals and spending process.

The primary objective of procurement solutions is to manage and ease all interactions between the stakeholders, such as originator, buyer, category manager, approver, vendor and receiver, at every transactional step. The solution also executes critical tasks such as request initiation, purchase order placement, bid analysis, invoice approval and final payment.

This guide will assist potential buyers in determining which procurement software best fits their needs.

Here's what we'll cover:

What Is Procurement Software?
Common Features of Procurement Software
Evaluating Procurement Systems
Market Trends to Understand

What Is Procurement Software?

Procurement software (labeled as RFQ software or purchasing management software by some vendors) manages the purchasing processes within a supply chain. After using sourcing software to analyze current spending and potential vendor performance, these applications take over to finalize deals and initiate monetary transactions. As an important element of supply chain management systems, these systems help organizations efficiently manage their purchasing cycle times and maximize profit on every purchase order (PO).

Common Features of Procurement Software

Procurement management software solutions can convert a well-researched sourcing process into successful purchase orders through user-friendly processes. This helps control non-payroll expenditures and thus support positive asset management over the long run. After reverse auctions, which can take place through public bids or multi-round private offers, the requisitioning phase begins. At this point, the supplies are bought via the system’s electronic purchasing capabilities. Once the order has been completed, the application analyzes receipts for invoice approval and reconciliation.

Screenshot of Fishbowl user dashboard

Screenshot of Fishbowl user dashboard

One of the obvious benefits of these applications and supplier relationship management systems in general is its ability to effectively manage the mass amounts of data that accumulate after an organization’s many purchases. Once purchasing terms have been agreed, e-procurement software submits the information to all necessary parties for immediate approval, ensuring that the procured products can be delivered as soon as possible. For future reference, the program also stores these approval documents as well as the expense figures for each purchase, which will be used in the next sourcing cycle when the organization once again looks to cut costs.

Specific features of an electronic procurement system include:

Selection & ordering Purchasing solutions organize product information in a format that makes it easy to compare products to make the best selection. Although this makes all purchasing decisions easier, where it really adds value is in the selection of commodities, where there are no variations in product features or quality.
Purchase order approval & delivery Organizing the data in one place makes it easy to identify product and purchase order approvals, ensuring that nothing is ordered without the right people knowing about it. They then deliver the POs to the vendors through their preferred delivery method.
Billing As part of the billing functionality in these systems, it should match invoices to orders, and handle electronic bill paying as desired.
Spend data analysis The business intelligence side of these applications analyzes purchasing trends and evaluates vendors to identify potential areas to improve on economies of scale and otherwise improve negotiating position.

Evaluating Procurement Systems

When evaluating purchasing software, it’s a good idea not to get caught up in the individual features of each product. Rather, look for something that matches your current and past use, that will simply expedite decisions you’ve already made.

One of the main decisions you’ll make in purchasing this program is to go with a traditional installation-based system or a software-as-a-service “e-Procurement” system. Procurement applications must handle compliance issues, including the Sarbanes-Oxley Act of 2002 which placed harsher regulations on accounting practices. That means you also need to ensure your application is SOX compliant—maintaining full and reliable disclosure in financial reporting.

Ask the following questions when evaluating solutions for purchasing:

  • Does your department primarily manage direct procurement or indirect procurement? Does this system match those use cases?
  • Is the application SOX compliant?
  • How will this program support you in your commodity purchasing?
  • What’s the PO approval and delivery process?

Market Trends to Understand

As you evaluate a new procurement software solution, it’s important to keep the following industry trends in mind. How your selected vendor fits within these trends could have a significant impact on their viability.

The rise of the cloud. Procurement teams across the world are investing in technology in one way or the other; however, they are yet to maximize the use of the cloud across their organizations. The procurement process can leverage cloud technology in various ways, such as supplier collaboration. The cloud has a lot to offer procurement departments, such as streamlining orders, enhanced visibility across supply chains and smoother execution of various changes, even during the transportation of goods.

For example, Del Monte integrated its supply chain data with the cloud, which enables it to collaborate with its business partners, place supplier contracts, create orders and access global data in real time.

Enhancements in e-procurement. Organizations will have to be more careful while selecting their e-procurement systems and expense management parameters. The ideal e-procurement technology will help them speed up their buying activities, decrease policy breaches and remove existing roadblocks in procurement.

The new generation has unique requirements. These days people have high expectations about how procurement should be done and the technology that must be employed. Hence, organizations must be aware and up to date regarding the latest technology in order to retain the current generation and manage the millennials involved in the overall supply chain.

Growing emphasis on data security. Due to the increasing number of data breaches, organizations must store their data securely at various steps of their supply chain. They should also make people within the supply relationships accountable for any data breaches. Growth in analytics. The complex tasks of data representation, insights and analysis are challenging but critical these days. This trend is growing significantly among procurement teams. Analyzing the spending allows procurement departments to have complete visibility of all indirect and direct spending. It also helps them reduce costs wherever possible and identify all the consolidation opportunities.