Eight best procure-to-pay software solutions

The most effective procurement teams take advantage of modern software tools with powerful and diverse feature sets to drive efficiencies, lower costs, and enhance compliance with purchasing policies.

Deciding you need a procurement software tool is the easy part. What’s not so simple is choosing from the vast array of software tools that exist.

In this guide to the best procure-to-pay solutions, we break down the pros and cons of some of the most popular options.

Discover the eight most powerful procure-to-pay (P2P) software tools available today, along with pros, cons, top features, and pricing for each.

Eight best P2P software platforms

Vendr

Vendr (that’s us, by the way) is the SaaS buying platform that helps procurement teams cut costs, manage contracts and renewals, and source long-term strategic relationships with software vendors.

Vendr top features

Vendr’s top features include:

• Price benchmarking using the biggest data set of SaaS buying transactions around
• Assistance from a team of SaaS buying experts during the sourcing and renewals processes
• Real-time spend monitoring and savings analysis
• Automated approvals workflows, reminders, and upcoming renewal notifications
• Overlapping spend analysis to spot opportunities to consolidate software licenses

Pros of Vendr

The biggest benefit of using Vendr to supercharge your SaaS buying process is cost savings.

Through processes like license consolidation and price benchmarking, brands like Mixpanel, HubSpot, and Canva use Vendr to cut costs and deliver an average 8x return on their investment.

Cons of Vendr

Vendr may be unsuitable for smaller organizations that aren’t yet spending a significant amount annually on software.

To take full advantage of Vendr’s feature set, your company should spend at least $400,000 annually on SaaS.

Vendr pricing

Vendr offers three pricing tiers:

1. Starter — $36,000 (with a $36,000+ savings guarantee). Suitable for companies spending between $400k and $1m on SaaS annually.
2. Growth — $78,000 (with a $156,000+ savings guarantee). Suitable for companies spending between $1m and $5m on SaaS annually.
3. Enterprise — $120,000 (with a $360,000+ savings guarantee). Suitable for companies spending more than $5m on SaaS annually.

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Kissflow Procurement Cloud

Kissflow Procurement Cloud is a procure-to-pay software tool built on Kissflow, a custom low-code/no-code app creation platform.

Kissflow Procurement Cloud top features

Top features of Kissflow Procurement Cloud include:

• Purchase requisition and purchase order management
• Invoice approval workflows
• Vendor management functionality
• Customizable reporting suite

Pros of Kissflow Procurement Cloud

The biggest benefit of Kissflow Procurement Cloud is its flexibility.

Kissflow Procurement Cloud is not a standalone product like most P2P software platforms. It’s built on a no-code platform, meaning purchasing teams can use its customization features to build a procure-to-pay solution that suits their specific needs and workflows.

Cons of Kissflow Procurement Cloud

The biggest drawback of Kissflow Procurement Cloud is that it doesn't offer price benchmarking information.

Without this, procurement professionals don’t have access to insights (like what other organizations pay for the same tool), meaning they have less leverage in contract negotiation conversations.

Kissflow Procurement Cloud pricing

Pricing for Kissflow Procurement Cloud begins at $23,880 annually and increases depending on your team’s usage and feature requirements.

Coupa

Coupa is a business spend management platform with features that help drive the entire procurement process.

Coupa top features

Coupa’s most important features include:

• Supply chain planning
• Integrations with commonly used ERP systems
• Contract management features like workflow automation
• E-invoicing and accounts payable functionality

Pros of Coupa

Coupa’s biggest advantage is the wide variety of spend management solutions it offers. For instance, AP automation features allow buying teams to streamline and optimize the purchasing process while staying compliant with internal procurement policies.

Cons of Coupa

Coupa is a complex product. As such, it may present a steep learning curve for less-experienced procurement managers.

Additionally, as Coupa primarily focuses on cost reduction, it may be less suitable for teams looking to emphasize supplier relationships and strengthening ties with service providers.

Coupa pricing

Coupa does not advertise pricing for its procure-to-pay suite.

SAP Ariba

SAP Ariba is a spend management tool that’s part of SAP’s wider suite of e-procurement tools.

It’s a widely respected platform and has consistently been named a leader for P2P solutions in the Gartner Magic Quadrant.

SAP Ariba top features

SAP Ariba’s features to note include:

• Enhanced spend visibility through custom reporting dashboards
• Supplier management and risk monitoring
• Deep integrations with other SAP tools for things like inventory management
• Payments and invoice processing functionality

Pros of SAP Ariba

The biggest benefit of SAP Ariba is its depth of features—it’s truly a full-stack procurement solution.

Cons of SAP Ariba

Many SAP Ariba users find the software difficult to navigate, with an outdated and clunky user interface and minimal onboarding support.

SAP Ariba pricing

SAP does not advertise pricing for this product.

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Precoro

Precoro is a procure-to-pay software tool with several helpful features for payment processing.

Precoro top features

Precoro’s top features include:

• Inventory management
• 3-way invoice matching
• Purchase order approval workflows
• Budget creation and management functionality

Pros of Precoro

The biggest benefit of using Precoro is the ability to automate several aspects of the procure-to-pay process, allowing teams to create efficiencies while minimizing the potential for human error.

Cons of Precoro

Precoro is missing some important strategic sourcing features like price benchmarking and support from a dedicated team of SaaS buying experts.

Precoro pricing

For teams of fewer than 20 users, Precoro charges $35 per seat per month. For teams larger than this, they calculate pricing on a custom basis.

PRM360

PRM360 is a source-to-pay and supply chain management software platform.

PRM360 top features

The most important features to note when considering PRM360 are:

• Catalog management
• Auction functionality
• E-invoicing
• Managed services such as project and vendor management

Pros of PRM360

PRM360’s biggest pro is the wide variety of managed services they offer, which include;

• Vendor management services like supplier profiling and risk management
• Spend analysis
• Project management and requisition processing

Cons of PRM360

PRM360 is missing important software sourcing features like price benchmarking.

PRM360 pricing

PRM360 customizes pricing based on the features and managed service requirements of your company.

Procurify

Procurify is a procure-to-pay solution focusing on managing company spending.

Procurify top features

Procurify’s top features are:

• Purchase request approval workflows
• Real-time budget visibility
• Physical and virtual spending cards
• A comprehensive mobile app
• Bill management and accounts payable automation

Pros of Procurify

Procurify users regularly mention how easy the interface is to use and how much efficiency they’ve gained in using Procurify to power purchasing processes.

Cons of Procurify

Some users claim that Procurify can be a bit rigid when designing customer purchase order processes.

Procurify pricing

Procurify offers just one plan at a flat rate of $2,000 per month.

Oracle Fusion Cloud Procurement

Oracle Fusion Cloud Procurement is a full-stack procure-to-pay software solution that’s part of the Oracle software suite.

Oracle Fusion Cloud Procurement top features

Top features of Oracle Fusion Cloud Procurement include:

• Automated purchase order creation
• Project-drive supply chain management
• Supplier management dashboards
• Contract lifecycle management

Pros of Oracle Fusion Cloud Procurement

The biggest advantage of this procure-to-pay software solution is accessed when your entire organization uses the full suite of Oracle products. You can then take advantage of deep integrations, remove data silos, and improve reporting across the board.

Cons of Oracle Fusion Cloud Procurement

Oracle Fusion Cloud Procurement is a complex product and is unlikely to be suitable for smaller organizations with minimal sourcing and procurement needs.

Oracle Fusion Cloud Procurement pricing

Oracle Fusion Cloud Procurement creates pricing on a per-customer basis.

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