Business Operations

The Top 10 Procurement Software Solutions

Procurement software streamlines the source-to-pay process, using tools such as supplier management, contract management, and e-procurement for efficient and transparent procurement operations.

The Top 10 Procurement Software Solutions include:
  • 1. Airbase
  • 2. Basware
  • 3. Coupa
  • 4. GEP SMART
  • 5. JAGGAER
  • 6. Oracle Fusion Cloud Procurement
  • 7. Precoro
  • 8. SAP Ariba
  • 9. Tipalti
  • 10. Zip

Managing procurement effectively is vital to controlling company costs and maintaining efficient and sustainable business operations. Procurement software streamlines the entire procurement process, automating tasks such as supplier management, purchase order creation, invoice approvals, and reporting. By implementing procurement software, businesses can save time, reduce errors, improve purchasing decisions, and optimize supplier relationships, ultimately leading to more profitable business outcomes.

As the number of procurement software solutions on the market is continuously growing, it can be challenging for businesses to find the best fit for their needs. To simplify this decision-making process, we have compiled a list of the top 10 procurement software solutions. Our list is based on factors such as the features that each solution offers, their ease of use, supplier collaboration, configurability, scalability, and customer reviews.

Airbase Logo

Airbase is a leading provider of spend management solutions, offering a comprehensive platform for businesses with 100 to 5,000 employees. Their all-in-one platform supports complex workflows, payments, and accounting associated with non-payroll expenditures. This gives enhanced control, visibility, and automation to finance teams.

The platform consists of four key modules: Guided Procurement, Accounts Payable (AP) Automation, Expense Management, and Corporate Cards. Guided Procurement simplifies the buying process for employees, ensuring compliance and seamless integration with existing systems. AP Automation streamlines everything from bill payment to complex purchase orders, international payments, and vendor management through a user-friendly portal. Expense Management eliminates the hassle of expense reporting and global reimbursements by utilizing AI-based OCR and generative AI technologies, while ensuring compliance. Airbase’s Corporate Card module offers a flexible card program that supports pre-approvals and automatically records purchase details to the general ledger. This module is compatible with both Airbase virtual and physical cards, as well as AMEX and Silicon Valley Bank (SVB) card programs, providing convenience and security for businesses.

Overall, Airbase delivers a user-friendly procurement and AP experience tailored for users as well as finance teams, resulting in significant time and cost savings.

Airbase Logo
Basware Logo

Basware is a company that offers e-Procurement solutions, designed to streamline the procurement process and improve compliance for businesses. Through its e-Procurement platform, Basware assists organizations in overcoming common challenges associated with manual procurement operations, such as high procurement costs, lack of compliance with negotiated contracts, limited visibility into spend, and difficult supplier relations.

The platform includes features such as Guided Purchasing. This helps increase compliance with supplier and pricing policies as well as simplifying the procurement process for end-users. Simplified Shopping, a consumer-style shopping experience makes it easy for users to purchase goods and services, whilst increasing compliance and assisting in keeping catalog management up to date. Its Advanced Approvals feature accelerates the procurement process by automatically issuing purchase orders without waiting for multiple layers of approval. Pricing Compliance ensures users adhere to preferred suppliers and negotiated pricing contracts, while also providing budget check matrices for approvers. Basware e-Procurement also includes Out-Of-The-Box Analytics, providing users with graphical dashboards that allow them to track spend by supplier, category, and department.

Additionally, the platform supports Operational Sourcing, offering multiple mechanisms for easy purchase of goods and services by procurement professionals and end-users. Suitable for globally operating organizations using Basware AP Automation and Finance Shared Service Centers, Basware’s solutions integrate seamlessly with any ERP system.

Basware Logo
Coupa Logo

Coupa Software is a global technology platform specializing in Business Spend Management (BSM). Their cloud-based platform aims to empower companies with the visibility and control needed for smarter and safer spending. Coupa offers a unified platform that allows organizations to see and manage all their spend in one place, simplifying purchase requisition, order processes, and real-time tracking.

Their procurement software brings a consumer-like experience to the purchasing process, encouraging company-wide adoption while ensuring compliance and increasing cost savings. Coupa’s procurement management software features include simplified purchase requisitions, seamless shopping experiences with Open Buy, easy SOW-based spend management, real-time budget tracking, fraud detection with Spend Guard, and accelerated approval processes. Coupa streamlines order management with their complete purchasing software, improving purchasing requisition and purchase order processes. The platform also supports inventory management to reduce excess stock and enhance compliance with a centralized contract repository.

By improving the efficiency of procurement processes and enabling suppliers to have greater visibility into purchase orders, Coupa Software provides organizations with a comprehensive solution for smarter and safer business spending.

Coupa Logo
GEP Logo

GEP SMART is a comprehensive procurement software platform designed for procurement professionals aiming to streamline and automate source-to-pay processes for both direct and indirect procurement. Developed by procurement experts, GEP SMART combines upstream sourcing with downstream procurement operations in a single, state-of-the-art cloud platform.

The platform offers a complete set of capabilities for managing both direct and indirect spend, all powered by artificial intelligence (AI). Key features of GEP SMART include AI-powered spend analysis, savings tracking, sourcing, contract management, supplier management, and procure-to-pay operations. These features provide users with a unified, easy-to-use workflow for identifying opportunities, managing savings initiatives, making purchases and payments, and tracking performance. Designed for use on mobile devices, GEP SMART enables easy collaboration and communication between stakeholders, including procurement, suppliers, production, and finance teams.

As part of GEP’s integrated approach to solution delivery, the platform supports standardization of procurement processes and best practices to drive efficiency and boost overall performance. By incorporating AI-driven insights and innovations throughout the supply chain, GEP SMART helps businesses achieve their strategic, operational, and financial objectives.

GEP Logo
Jaggaer Logo

JAGGAER is a provider of eProcurement software that aims to simplify the purchasing process for organizations. Its one-stop shopping marketplace offers users an easy way to find and compare items from various sources, including hosted catalogs, punchouts, and internal inventory. The platform’s guided buying feature helps direct shoppers towards preferred suppliers and services, ensuring compliance with company contracts.

The JAGGAER software offers transparency in spend management, enabling organizations to analyze and share data through intuitive dashboards. With full visibility into their spending, businesses can make better supplier and category decisions, ultimately leading to increased savings. The platform also streamlines budget management with automated approval workflows and simplified reporting. Additionally, JAGGAER provides easy, dependable, and flexible integrations with a variety of enterprise systems, including out-of-the-box ERP and third-party solutions. As part of the JAGGAER experience, the company offers turnkey supplier enablement, granting access to a network of 5 million suppliers and easing the onboarding process.

With a focus on delivering value quickly, JAGGAER tailors implementation options to each organization, employing a collaborative and agile approach. Finally, the platform promotes improved efficiency and supplier relations through its self-service portals, eliminating the need for legacy communication methods.

Jaggaer Logo
Oracle Logo

Oracle Corporation is a global computer technology firm that deliver a range of technology solutions. One of their offerings is the Oracle Fusion Cloud Procurement suite. This assists businesses in automating procurement processes from sourcing to supplier management, with collaboration and analytical insights that enhance agility, reduce risk, and improve profit margins.

Oracle Fusion Cloud Procurement is an integrated solution that simplifies employee shopping, improves spend management, and streamlines purchasing and payments. The suite is designed to support direct materials, services, and complex supply chains, ensuring a resilient manufacturing and operation process. The solution also includes Supplier Relationship Management modules that help verify supplier information and manage their performance effectively. Further, strategic sourcing features enable cost reduction, increased value, and optimal productivity. Additionally, the suite provides tools for managing supplier contract lifecycles, compliance, and improving contract visibility. Analytical insights are offered to help businesses identify value opportunities, improve category intelligence, and manage supplier performance.

With Oracle Fusion Cloud Procurement, businesses can also improve supplier collaboration through the use of a self-service portal and streamline electronic communication with the Oracle Business Network. The platform allows for easy discovery and connection with trading partners, thereby enhancing efficiency in procurement processes.

Oracle Logo
Precoro Logo

Precoro is a cloud-based procurement and AP automation solution that is designed to streamline purchasing processes and improve collaboration among requesters, approvers, procurement managers, and accounting teams. Its primary function is to replace paperwork, centralize purchasing, enhance spending visibility, and minimize errors caused by manual processes.

Users can effortlessly create requests and track progress in real time, ensuring that all parties involved in the procurement process are efficiently connected. The platform focuses on automating spending workflows, offering an adaptive solution tailored to individual business needs in terms of size, industry, and purchasing approach. Precoro allows users to enable specific modules, customize document fields, establish criteria-based approval workflows, and design user roles according to their requirements. On average, implementation takes about two weeks or less, with minimal technical knowledge needed for adoption and onboarding, making the system user-friendly and easy to navigate.

Precoro’s goal is to reduce the paper trail and optimize resource usage, supporting digital transformation and a paperless future. As a result, companies can not only reduce their workload and save money, but also enhance their procurement processes and overall efficiency.

Precoro Logo
SAP Logo

SAP Ariba is a global network that provides procurement solutions for various industries. They offer an e-procurement solution that enables businesses to move faster and spend better by intelligently facilitating search and approvals across global spend categories.

Key features of SAP Ariba include guided buying, Spot Buy, procurement operations desk, global market adaptability, invoice management, and ERP integration. Guided buying helps employees purchase from preferred suppliers, and Spot Buy allows users to make one-off purchases from vetted suppliers in a custom B2B marketplace. The procurement operations desk provides a scalable and collaborative way for procurement teams to manage special purchase requests. SAP Ariba mitigates the complexity of managing procurement processes across cultures and countries through its global market adaptability. The platform also integrates with ERPs for invoice and payment processing support. SAP Ariba also offers catalog enablement with rich content, API integration, and an intuitive user experience.

Users can access a centralized command center for compliance, process control, approval workflows, and document output. This includes a unified requisitioning experience, central demand aggregation, and enterprise contract orchestration. Central analytics enable users to monitor the health of procurement processes by tracking global spend and accessing operational details.

SAP Logo
Tipalti Logo

Tipalti is a financial technology company specializing in accounting software for businesses, offering accounts payable, procurement, and global payments automation solutions. The easy-to-use platform provides greater control over spending, streamlines procurement operations, and reduces financial and compliance risks.

Through the use of simple requisition management, Tipalti enables employees to submit purchase requests and centralizes control by collecting important information upfront. The platform also offers advanced approval flows, automating rule-based approval routing and eliminating manual tasks. Streamlined vendor management is another key feature, with custom, self-service registration forms allowing for quick and efficient vendor onboarding and management. Additionally, Tipalti automatically generates purchase orders once a purchase request is approved, thereby reducing errors, and eliminating the need for manual data entry. The software integrates with existing technology stacks, including pre-built integrations for prominent ERPs, SSO, email, and Slack, to ensure seamless processes and automatic data synchronization.

The platform also offers built-in punchout integration with Amazon Business, supporting an integrated buying process from purchase requests to order fulfillment and providing exclusive business pricing. Tipalti’s infrastructure is powered by a multi-entity cloud platform, designed to help businesses grow and scale effectively.

Tipalti Logo
ZIP Logo

Zip is a well-established intake-to-procure solution, offering a single platform for employees to initiate purchase or vendor requests. The platform aims to give businesses better visibility of all purchases, while simultaneously improving the overall employee experience.

Zip’s no-code configuration and intelligent workflows are designed to integrate seamlessly across different systems. This enables automatic routing of requests for faster approvals from departments such as finance, legal, procurement, IT, and security. The platform is focused on streamlining cross-functional approval workflows, while using data from various sources like ERP systems, simplifying processes for procurement teams and fostering a more efficient workplace. With Zip, procurement teams can develop a universal procurement experience by starting with intake, breaking employee adoption barriers typically encountered with legacy systems.

A well-functioning intake system results in efficient processing of purchase orders and invoices. This translates to rapid approvals and improved automation of procure-to-pay processes. As a result, Zip has become the world’s first and only solution that integrates both intake-to-procure and intake-to-pay processes for optimal efficiency and better spend insights.

ZIP Logo
The Top 10 Procurement Software Solutions