The Best Procurement Management Software Solutions

The editors at Solutions Review have compiled a list to spotlight some of the best procurement management solutions in the marketplace.

Procurement is the process used to locate and acquire the goods and services a company needs and helps brands maintain controls that protect them against risks and inefficiencies. Procurement management software is designed to help those companies automate their source-to-pay cycles with various capabilities for analyzing spending, managing contracts, making invoice payments, and providing users with access to the procurement processes they need.

However, finding the right procurement software for your business can be challenging. With that in mind, the editors at Solutions Review compiled the following list of top-rated procurement management solutions for companies to consider implementing into their processes. Our editors selected these software solutions based on each provider’s Authority Score, a meta-analysis of user sentiment through the web’s most trusted business software review sites, and our proprietary five-point inclusion criteria. The list is organized alphabetically.

The Best Procurement Management Software Solutions

Coupa

Description: Coupa Software is a cloud-based solution provider that equips companies from multiple industries with business spend management (BSM) platforms. With Coupa Procurement, companies can simplify purchase requisition processes, maximize pre-approved spending, ensure compliance, and improve visibility into purchase-to-pay processes. Its procurement-specific feature suite includes inventory management, purchase requisitions, services procurement, real-time budget management, contract management, and integrations with other technology platforms.

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Fraxion

Description: Fraxion is a cloud-based procure-to-pay solution for companies across the education, government, non-profit, healthcare, and property management industries. It provides its users with a requisition and procurement system outfitted with tools for expense management, spend analytics, AP workflow management, approvals management, business intelligence, purchase requisitions management, multi-level approval workflows, real-time budget tracking, and mobile access functionalities.

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GEP SMART

Description: GEP is a supply chain solution provider that helps global enterprises improve their agility, operational efficiency, resiliency, profitability, competitive advantage, and more. With GEP SMART, a source-to-pay platform for direct and indirect procurement, users can access AI-powered capabilities like spending analysis, contract management, savings tracking, sourcing, procure-to-pay, supplier management, AP automation, data analytics, bill of materials, data management, and more.

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IFS

Description: IFS develops and delivers ERP software for customers worldwide who manufacture and distribute goods, maintain assets, and manage service-focused operations. IFS’s products are user-friendly, flexible, and modular in design. With its Source-To-Pay (S2P) software offering, IFS provides its users with a procurement solution designed to maximize savings, reduce risks, ensure compliance, improve supplier relationships, reduce admin overhead, and source the materials, products, and services they need.

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Kissflow

Description: Kissflow offers a cloud-based BPM software solution for businesses of all sizes. Companies can use the platform to automate business processes, monitor performances, approve pending tasks, initiate process requests, design custom forms, extract insights from workflow processes, and more. It also offers a customizable procurement solution outfitted with purchase requisitions, vendor management, analytics, purchase order management, purchase invoices, and integrations with other financial solutions.

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NetSuite

Description: Netsuite is a global provider of cloud-based services for organizations in over 20 industries that need help growing, scaling, and adapting to changes in their industry of choice. Its ERP suite includes a procurement platform capable of helping companies manage vendor relationships, improve visibility, control costs, and automate purchase processes. Procurement-specific features include sourcing, invoice processing, vendor management, real-time performance insights, and purchase management.

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Oracle

Description: Oracle is a cloud technology company providing organizations worldwide with various computing infrastructures and software products designed to help them innovate their business, unlock new efficiencies, and improve efficiency. Oracle’s ERP solution includes a procurement suite developed to help companies streamline spending, manage materials, increase agility, optimize sourcing productivity, manage the supplier contract lifecycle, maintain compliance, improve contract visibility, and optimize supplier collaboration.

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Precoro

Description: Precoro is a cloud-based procurement and AP automation solution designed to help global companies transform their purchasing experiences, maximize efficiency with digitization, streamline operations, optimize spending, prevent human error, and more. Capabilities include workflow scenario builders, document-based approvals, approval workflows, invoice management, collaboration tools, purchasing automation, reimbursement tracking, warehouse management, mobile access, real-time budget tracking, and integration with ERP solutions.

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Pipefy

Description: Pipefy is a low-code/no-code process orchestration platform designed to help companies efficiently manage business processes and automate workflows. The company also offers a flexible, customizable procurement software solution that enables users to automate tasks and eliminate manual work to improve procurement processes. Pipefy for Procurement allows businesses to streamline their workflows, simplify sourcing, improve supplier onboarding, create better stakeholder experiences, centralize all Procure-2-Pay steps, and simplify end-to-end procurement management with integration.

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Procurify

Description: Procurify is an “Intelligent Spend Management” company that provides customers with a procure-to-pay solution for improving real-time spending visibility and control. Its procure-to-pay capabilities cover everything from purchase requests to expense management, approval workflows, standardized purchase requisitions, customizable dashboards for budget management, vendor performance tracking, purchase order management, automatic purchase order creation, centralized documentation, accounts payable automation,  vendor management, and more.

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QAD

Description: QAD Inc. provides “next-generation” manufacturing and supply chain management solutions for global companies in the life sciences, automotive, supply, consumer products, food and beverage, high-tech, and industrial industries. As part of its supply chain planning solution suite, QAD offers procurement planning tools to help companies lower transportation costs, improve the speed to market, mitigate supply chain risks, reduce material costs, and more. Capabilities include S&OP support, a requirements calculator, supplier calendars, real-time simulation planning, and integration support for other enterprise software platforms.

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Qntrl

Description: Qntrl is a workflow orchestration software designed to help global brands improve workflow visibility, automation, and control. Its workflow orchestration solution can also help users improve their procurement processes by making better sourcing decisions, cutting costs, responding to risks, and more. Features include purchase management, automated approvals, reporting tools, delivery tracking, multi-level approval workflows, 360-degree process visibility, compliance management, customizable notifications, and an optimized vendor onboarding process.

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SAP

Description: SAP, the German software giant, provides businesses with its SAP S/4HANA next-generation ERP software, offering robust functionality across some industries, including manufacturing, services, retail, wholesale distribution, and more. The company’s product suite includes several procurement and spend management solutions. With its procurement products—SAP Ariba Catalog, SAP Ariba Buying, SAP Ariba Buying and Invoicing, and SAP Central Procurement, private cloud edition—companies can transform their procure-to-pay processes, automate tasks, control costs, centralize purchasing management efforts company-wide, and more.

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SYSPRO

Description: SYSPRO is a global provider of enterprise resource planning (ERP) software for companies of all sizes in the manufacturing and distribution markets. Its procurement offering is available in its Business Processes solution suite, including inventory management, planning, scheduling, order management, supply chain management, and more. Procurement functionalities include cashflow optimization tools, demand planning, advanced forecasting, supplier relationship management, delivery tracking, sourcing optimization, and other tools for maintaining a 360-degree view of the resources throughout supply chains.

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Unit4

Description: Unit4 products include fully integrated ERP, HCM, and FP&A solutions that mid-sized higher education institutions can utilize. Its ERP suite consists of a procurement management solution for supporting, automating, and standardizing the various phases of the purchase ordering cycle, from requisitions to paying vendors. Procurement capabilities include purchasing management, internal ordering services, commitment accounting, contract management, and incoming invoice management. Companies can use these features to cut time-to-pay processing, maintain a central repository for contracts, and more.

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