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20 Best Procurement Software of 2020

Category: B2B News
What is the best procurement software?

The best procurement software is Tradogram, whose interface makes it easy for users to complete their tasks.  It streamlines everything in the procurement process, which is why procurement professionals appreciate it. It also provides powerful tools that help you oversee your suppliers and trading partners.

If you’re looking for ways to lend efficiency to your procurement process, you’ve come to the right place. We know that procurement is no walk in the park. It requires you to find reliable suppliers, select the right products, assess purchase orders, and facilitate payments for your supplies. If that’s not challenging enough, the fast pace of the modern business landscape also requires you to accomplish these tasks as quickly as possible if you want to remain competitive in your industry.

Luckily, there’s a large selection of procurement software out there that can give you the functionalities you require to optimize your operations. The only question now is, which one is the most suitable for you?

To help you out, we have narrowed your options down to the 20 best procurement software on the market by assessing their usability, comprehensive functionalities, and scalability. We have also noted down how much you should expect to spend per product so that it would be easier for you to see whether or not a solution falls within your budget.

best procurement software

Procurement is one of the most tedious aspects of managing a business. So much so that 51% of procurement leaders believe that they are not equipped to deliver on their current strategies—a problem that could lead to excessive expenditures and failed business partnerships. This is where procurement software solutions come in.

These tools are equipped to automate processes when it comes to ordering new stocks as well as approving payments. Furthermore, these products can also be used to reduce processing costs (78%), boost the development of new products (58%), and manage risks (54%). But, of course, with the demands of the modern business landscape, doing these are things not enough to stay competitive. It is also important to maximize use of your procurement software by using them alongside informative, well-organized, and comprehensive data. A study showed leveraging big data and analytics is a priority among many mid-market and enterprise organizations.

How Procurement Officers Utilize Procurement Tools

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Source: Deloitte

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Fortunately, you will see through this guide that there are plenty of procurement software solutions out there that can help you leverage analytics to aid in your company’s supplier sourcing and purchasing processes. Just make sure to check whether or not it can accommodate the specific needs of your operations. After all, choosing the right software provider is just as crucial as finding the best suppliers.

The 20 Best Procurement Software

1. Tradogram

Tradogram dashboard

At the very top of our list of 20 best procurement software is Tradogram. Hundreds of businesses use it because of its easily navigable interface and robust set of tools. With this at your disposal, you can streamline the procurement process and take control from managing suppliers to controlling costs to maximizing expenses. It also comes with tailor-made purchasing management that can support multiple locations and groups, making it great for companies with multiple offices.

What sets it apart from its competitors, however, is its best-in-class spend management functionalities. These include tools for expenditure analysis, cost issue forecasting, and supplier management. With this, it is easier for you to understand your procurement process and all the expenditures related to them.

Also, Tradogram allows users to create a supplier database where they can manage their approved vendors, check out information on trading partners, as well as review transactions with particular suppliers. These provide you with easier access to critical supplier information and allow your employees to know which companies to tap in case they need to make new purchase orders.

Tradogram

An award given to products our B2B experts find especially valuable for companies

Try out Tradogram with their free trial

Price Range: Tradogram offers a free plan for small businesses that only handle ten purchase orders per month. If you have more advanced requirements, they also offer paid plans–the Premium plan at $15/user/month and the Enterprise plan that is available by quote.

Why Choose Tradogram?

  1. All-in-one procurement. Tradogram serves as a centralized hub for your procurement processes. It can assist you with multi-level management, approval automation, inventory management, report building, as well as budgeting. It also comes with vendor management features that will help you assess potential suppliers and manage existing contracts.
  2. Strategic spend management. This software has a spend management module that covers everything, ranging from sourcing and contract management to supplier and order management. It can also forecast expenditures for easier budgeting.
  3. Built-in communication. This platform comes with an instant messaging feature that can be accessed by your employees and your suppliers. This way, it is easier to coordinate without having to rely on third-party communication applications.

Detailed Tradogram Review

2. SMART by GEP

smart by gep dashboard

Intelligent and rapid purchasing decision-making is made possible by SMART by GEP. It integrates both upstream and downstream procurement processes in a single interface to make it easier for you to find opportunities for savings and more. You can also expect the platform to guide you throughout the source-to-pay lifecycle. This way, you can be confident that you never miss an important step.

And as mentioned, SMART by GEP is intelligent. This is because it is powered by artificial intelligence and machine learning. Because of these technologies, the solution can provide you with advanced analytics and big data that enable you to make the most out of the information your organization gathers every second. The software also ensures that you have the best insights by using data from every possible source; thus, you have a holistic view of your procurement and spend in that regard. The use of AI, especially, makes this software in line with the 11 business intelligence trends of 2020.

Moreover, SMART by GEP includes a supplier management module. This helps you identify suppliers and assess which ones are the best for the company’s specific needs. This cuts across silos so you can expect to uncover every bit of information you can about procurement partners. The component’s capabilities go beyond that, though. It also has tools for authoring new RFPs as well as for awarding contracts.

SMART by GEP

SMART by GEP

Try out SMART by GEP with their free trial

Price Range: SMART by GEP is designed to streamline the procurement process for enterprises and multinational entities. In line with this, the platform’s pricing is quote-based only to ensure that every facet of the system is tailored to the needs of your organization.

Why Choose SMART by GEP?

  1. Lifecycle guide. SMART by GEP walks you through the entire source-to-pay lifecycle with its smart tools for sourcing and procurement. Every step of the way, it identifies opportunities to help you garner more savings without sacrificing the quality of the materials you source.
  2. Intelligent foundation. This platform has artificial intelligence, machine learning, and big data under the hood. Combined, these provide you with the best insights that can assist you in making well-informed procurement decisions.
  3. Supplier assessment. You only want to work with the best suppliers, and that is something this vendor helps make possible. Its supplier management module lists all current suppliers and enables you to evaluate them according to your criteria.

Detailed SMART by GEP Review

3. Bellwether

bellwether dashboard

Bellwether is a complete purchasing suite designed to cater to the needs of businesses, both big and small. As one of the best free procurement software, it offers a smart and straightforward interface that is easy enough for novice users to learn and powerful enough for seasoned professionals. You can perform inventory management, invoicing, advanced budgeting, as well as purchasing requisitions as effortlessly as possible. It also comes with approval automation tools and an advanced invoice matching feature to protect you from fraud.

This platform also offers a service-oriented architecture and modular system design, which is great for companies looking for scalability. Lastly, the platform can seamlessly run on both desktop and mobile devices when deployed via the cloud, making it a good option for teams who are always on the go.

Bellwether

Bellwether

Try out Bellwether with their free trial

Price Range: Bellwether offers its PMX platform completely for free. However, if you want more advanced tools for the other aspects of your procurement process, the vendor also offers a BPM Basic plan and an ePMX Enterprise plan, which cost $11/user/month and $18/user/month, respectively.

Why Choose Bellwether?

  1. Innovative purchasing features. This software solution comes with various innovative purchasing features that will help you optimize your procurement process. For starters, it has an integrated data dictionary, real-time cost tracking, and complete documentation of ordering details. It even provides users with reports on spend analysis available as frequently as needed.
  2. Great file management. Bellwether is integrated with a document management system that comes in handy for your procurement process. With this, you can easily organize all vendor files and strike a balance among your requisitions. It even comes with templates for different types of contracts so that you don’t have to start from scratch. Other systems would probably need a separate document management system to organize files.
  3. Modular architecture. This platform consists of multiple modules for different business requirements, so you can choose to start with only the basic feature set and upgrade the system as your business grows. By doing so, you can be sure that you are only spending on functionalities that you actually need.

Detailed Bellwether Review

4. Procurify

Procurify dashboard

Procurify is a cloud-based procurement solution purpose-built for creative teams. Focusing greatly on spend management and workflow optimization, this software allows users to centralize their processes and maximize their resources. What’s more, it comes with real-time analytical reporting on procurement processes so that you can turn data into actionable intelligence and cut down the time it takes to decide on critical matters.

This platform also can support location-based projects, which is great for businesses with multiple branches. With this, you can automatically route approval processes to the right people as well as organize all your procurement documents accordingly. To top it all off, it has an open API so that you can combine the platform with your existing systems. This way, you can easily streamline your operations.

Procurify

Procurify

Try out Procurify with their free trial

Price Range: Procurify only offers pricing plans on a by-quote basis. If you would like to learn more about their subscription rates, be sure to get in touch with the vendor.

Why Choose Procurify?

  1. Proactive eProcurement. Procurify is equipped with a variety of tools that optimize your eProcurement tasks. These include purchase management, expense filing, and workflow automation. It also has a great budgeting toolkit that simplifies the planning and management of expenses.
  2. Highly customizable system. This platform is built for flexibility, allowing you to set custom user roles and determine location-based calculations. It also provides users with customizable modules to help them get exactly the kind of tools that they need for their operations.
  3. Native mobile application. Procurify comes with its own native mobile application for iOS and Android devices. This allows you to access your system wherever and whenever you want, which makes it great for agile teams who are always out and about.

Detailed Procurify Review

5. Precoro

Precoro Dashboard

You can realize full control over your organization’s procurement workflow with Precoro. This reliable software ensures that you can complete every procurement-related task on one interface for maximum efficiency. This efficacy also extends to your inventory. That is because the main aim of the solution is to make certain that you always have enough raw materials–never low stock, never overstock.

This effectiveness can be seen in the integration and automation capabilities of Precoro as well. The platform can connect with your favorite accounting applications via its robust APIs. This offers you a comprehensive view of your finances, which includes your procurement cash flow.

Additionally, this solution saves you time by automatically entering the necessary information on form fields. The blanket PO feature has a hand in making this happen. Thus, you have more time to spare for critical jobs.

Precoro

Precoro

Try out Precoro with their free trial

Price Range: Precoro offers four pricing plans that are suitable for businesses of any size. The Small package starts at $29/user every month; the Medium plan goes for $24/user each month, and the Large starts at $19/user per month. Meanwhile, the Enterprise subscription comes in a price quote basis. Therefore, you have to get in touch with the vendor for pricing.

Why Choose Precoro?

  1. Effective inventory. Precoro always keeps an eye on your inventory so that you always have updated numbers to ensure that your raw materials are always in stock.
  2. Automatic data entry. Keying in information is a time-consuming task, but Precoro saves you from this by entering data in form fields when necessary.
  3. API integration. Precoro connects with third-party solutions, especially with accounting platforms, to give you a full overview of your finances.

Detailed Precoro Review

6. AvidXchange

avidxchange dashboard

AvidXchange is an accounts payable software equipped with a top-of-the-line procurement management system. Catering to businesses in the US, this solution aims to eliminate paperwork, reduce processing times, as well as control purchasing costs by providing comprehensive tools for its users. These include modules for accounts payable, purchase ordering, payment processing, and workflow automation.

In addition to the above mentioned, this platform also lets you zero in on your spending patterns by monitoring frequently purchased products as well as the whos, whats, whens, and whys of each transaction. This is even monitored in line with your vendor management efforts so that you will be able to tell when it’s time to find new suppliers for your operations.

AvidXchange

AvidXchange

Try out AvidXchange with their free trial

Price Range: AvidXChange offers plans that are transaction-dependent and quote-based. For more information, be sure to get in touch with their representatives.

Why Choose AvidXchange?

  1. Procure-to-pay processing. AvidXChange centralizes processes from procurement to payment. This means you will be able to do everything from vendor selection and procurement requisition to purchase processing and invoice reconciliation.
  2. Vendor management. This solution is equipped with a vendor management system where you can review existing contracts and manage transactions with suppliers. It even comes with a sourcing assessment tool that will help you find new vendors according to your business objectives.
  3. Robust security tools. AvidXChange also keeps your procurement data safe through its comprehensive security features. Aside from having SSAE 16 facilities and performing regular backup procedures, they also offer a variety of disaster recovery options so that it is easy to retrieve your data.

Detailed AvidXchange Review

7. Orderhive

Orderhive dashboard

Orderhive may be an all-in-one inventory management tool for ecommerce businesses, but it offers a robust purchase management module, making it a great addition to our list. With this, you can track supplier lead times, control costs, and monitor the PO lifecycle as efficiently as possible. This platform serves as a communication hub for you and your supplier for more seamless coordination on delivery times and quantities.

Another great thing about Orderhive is that it is not limited to procurement management and inventory tracking. The software solution offers all the tools you need for workflow automation, invoicing, and shipping. It even comes with a built-in multichannel sales system and analytics features to help you completely streamline your operations. In case there are additional applications that you require, it also works with nearly 200 third-party integrations for your convenience.

Price Range: Orderhive offers straightforward procurement software pricing plans that are dependent on the number of users you have and the number of warehouses you are managing. Rates may cost anywhere between $99/month to $299/month, and they also offer a quote-based plan for enterprises.

Detailed Orderhive Review

Why Choose Orderhive?

  1. Kanban philosophy. Orderhive was created to give you a full view of your operational processes in one convenient dashboard. With its Kanban layout, you can easily filter your dashboard to see active assignments, pending tasks, and real-time reports at a glance.
  2. Completely centralized platform. Offering a system that goes beyond procurement management, this platform centralizes all of the tasks related to your ecommerce business. Be it order processing, shipping, purchasing, or invoicing, this has it all. It can also integrate with a wide variety of third-party systems like PayPal, Stripe, Xero, and QuickBooks.
  3. Built-in multichannel sales management. Orderhive comes with its own multichannel sales management module. This will allow you to manage inventory levels according to your transactions from multiple online marketplaces.

8. TradeGecko

TradeGecko dashboard

TradeGecko is primarily an inventory management software created for small and medium-sized businesses. However, it also comes with procurement software features and supply chain management tools that will allow you to keep your processes in order. With this, you can track inventory and sales performance, forecast demand, maximize resources, as well as improve relationships with suppliers. What’s more is that it can consolidate data from multiple sources, making it ideal for multiregional distributors. Mobile teams can even access the entire system on your iOS or Android device using their native application.

Price Range: TradeGecko is available in different types of SMB and enterprise pricing packages depending on the number of users and ecommerce channels you have. Rates range from $39/month to $999/month. It is also being offered in custom plans, which are available by quote.

Detailed TradeGecko Review

Why Choose TradeGecko?

  1. Robust purchase order feature. TradeGecko is equipped with a purchase order system that will help you see your supplier and purchase order information at a glance. All you have to do is set up the workflow and input the necessary data once and automate the process in the future.
  2. Smart point-and-click technology. While TradeGecko prides itself on having a comprehensive back-end system, it is also known for being easy-to-use. They have a smart point-and-click interface that even technically averse users will find quick to navigate.
  3. Completely integrated architecture. Another great thing about TradeGecko is that it is built for scalability and flexibility. It is integrated with accounting systems, ecommerce solutions, CRM platforms, and even shipping solutions. It has an open developer API that makes it even more extensible.

9. SAP SRM

SAP SRM dashboard

SAP SRM is an on-premise supplier relationship management tool trusted by hundreds of large enterprises and medium-sized companies worldwide. Coming from an industry leader, this software solution offers nothing short of best-in-class functionalities that will improve the procure-to-pay process. From catalog management and centralized contract management to compliance management and supplier management, this can provide you with everything you need. One downside to this platform, however, is that because it is not cloud-hosted, you won’t be able to access it on your mobile devices.

Price Range: SAP SRM is only available on a price quote basis. If you are interested in investing in this platform, don’t hesitate to get in touch with the vendor’s representatives for more information.

Detailed SAP SRM Review

Why Choose SAP SRM?

  1. Supplier coordination. SAP SRM comes with features that facilitate coordination between you and your key suppliers. It allows you to properly document all your business transactions as well as gives you a bird’s eye view of your supplier relationships so you can further optimize your processes.
  2. Centralized contract management. It is built to keep all of your contracts in one place. This way, you get a clear view of all the modifications made to each agreement you have with suppliers, stay up-to-date on your existing policies, and even reinforce compliance management.
  3. Data-driven procurement. SAP SRM offers a wide range of operational reporting tools. With these at your disposal, it is easier to evaluate your purchasing behavior and get actionable insights that will help you promote a more data-driven procurement process.

10. SellerCloud

SellerCloud dashboard

SellerCloud is a sales management software designed for small to mid-market online retailers. While primarily created to synchronize multichannel selling operations, this platform also comes with a full purchase order management functionality. With it, you can monitor inventory levels, automatically reorder stocks, as well as perform predictive purchasing based on previous sales records. Furthermore, SellerCloud lets you see across your active sales channels and marketplaces so that you can manage orders and inventories from a single interface.

Price Range: SellerCloud has a minimum monthly cost of $500 until the per-order charges exceed $500 and carries an implementation fee of $2000 for training. Standard order processing ranges from $0.05/order to $0.25/order, while Fulfilled by Amazon order processing may cost anywhere between $0.02/order to $0.10/order. Do note that the lower rates apply for businesses that need to handle more orders monthly.

Detailed SellerCloud Review

Why Choose SellerCloud?

  1. End-to-end PO management. SellerCloud comes with a comprehensive purchase order management tool. It covers everything from tracking inventory and recording product costs to automated purchasing and stock updating so you can cut down on manual tasks as well as operational costs.
  2. Vendor invoice reconciliation. SellerCloud makes it easier for users to match invoices against received inventory. With this, you can ensure that all your purchase orders are processed correctly and that your company is protected from procurement fraud.
  3. Predictive purchasing. Demand for products can fluctuate, so to help you make sure that you are stocking up accordingly, SellerCloud offers predictive purchasing. This tool allows you to reorder inventory items based on sales data from previous seasons so that you don’t accidentally overstock on products.

11. SAP Ariba

SAP Ariba dashboard

Another product from SAP that managed to land on our list is SAP Ariba. This online procurement platform is touted as one of the world’s leading business commerce networks. Built for both buyers and suppliers, this software solution comes with a wide variety of tools that will help you track supply availability, monitor costs, manage compliance and assess expenditures. The software even comes with its own network of suppliers, which is great if your company is looking to source new vendors for your procurement process. It also integrates with your existing back-office system, so you don’t have to worry about finding new platforms that are compatible with this software.

Price Range: SAP Ariba offers custom pricing plans to its clients. To get a quote, be sure to get in touch with the vendor.

Detailed SAP Ariba Review

Why Choose SAP Ariba?

  1. Diverse network of suppliers. SAP Ariba comes with its own network of suppliers. By accessing this, it is easier to find vendors who can provide you with the goods and services you need while minimizing the risks and costs related to evaluating a new pool of suppliers.
  2. Powerful spend management solutions. This platform offers a wide variety of spend management solutions, but it prides itself on generating comprehensive reports on spending habits, contract efficiencies, and related data. With this, you can easily find ways to optimize your workflow and even negotiate better deals in the future.
  3. Contract compliance management. Another nifty thing about SAP Ariba is that this tool allows you to review contracts in line with industry standards and existing purchasing policies. By doing so, you will be able to stay up-to-date on the latest purchasing regulations and reinforce compliance management.

12. Oracle Procurement Cloud

Oracle Procurement Cloud dashboard

Oracle Procurement Cloud is a software solution that brings together workflow automation and social collaboration to accelerate procurement processes. It serves as an all-in-one platform where users can tackle vendor sourcing, assessment, negotiation, and management with ease. With this, it is easier to zero in on which suppliers will provide you with the best deals and which ones will help you achieve your objectives. Furthermore, it comes with transactional business intelligence tools that will aid you in making smarter business decisions down the road.

Price Range: Oracle Procurement Cloud offers various plans depending on the modules you’ll be needing for your procurement process. Prices range from $650/user/month to $575/user/month.

Detailed Oracle Procurement Cloud Review

Why Choose Oracle Procurement Cloud?

  1. Supplier qualification management. Oracle Procurement Cloud aims to help you forge strong relations with the right companies. This is why it has a supplier qualification management tool that lets you gather information on vendors based on your company’s objectives and compliance requirements. By doing so, it is easier to evaluate whether or not you should pursue certain business partnerships.
  2. Built-in social collaboration. This software is equipped with a conversational stream where all team members can share information about procurement transactions. With this, you and your staff can easily discuss contracts, incoming purchase orders, or any other aspects of your business without exiting the system.
  3. Transactional business intelligence. Oracle Procurement Cloud comes with its own BI system that is tailored for procurement transactions. With this, you can generate graphical award analysis, transactional assessments, and similar reports as seamlessly as possible.

13. Oracle Fusion Procurement

Oracle Fusion Procurement dashboard

Next on our list is Oracle Fusion Procurement. Similar to the previous product we discussed, this platform is designed to help companies spend smarter and find the best possible deals from suppliers. However, this platform offers a modular suite of procurement applications that focus on eSourcing and universal contract management. Moreover, it is equipped to help you identify your sourcing priorities so that you can find your ideal vendors in the most efficient manner possible.

Price Range: Oracle Fusion Procurement is only available on a by-quote basis, so be sure to get in touch with the vendor for more information.

Detailed Oracle Fusion Procurement Review

Why Choose Oracle Fusion Procurement?

  1. Smart sourcing. Oracle Fusion Procurement reinforces smart sourcing using its state-of-the-art analytics features, which will help you determine the best opportunities for your company. It also allows users to create watchlists, depending on their objectives, so that the system can screen new suppliers automatically.
  2. Handy supplier portal. If you want to improve supplier communication, this platform provides users with a supplier portal. Through this, your partner vendors can manage information by themselves so that you get up-to-date information at all times. Moreover, they can use this portal to acknowledge your order requests as well as provide you with notices on shipping.
  3. Procurement contract management. It can be challenging to ensure that you are compliant with industry standards as you create procurement contracts. To help you out, Oracle Fusion Procurement offers a contract management module. With this, you get access to customizable contract templates that can speed up the process of drafting agreements.

14. IBM Emptoris

IBM Emptoris dashboard

IBM Emptoris is a contract lifecycle management tool created for large enterprises and medium-sized businesses. However, we decided to add this to our list of best procurement software because it aims to help users foster stronger relationships with suppliers while maximizing their budgets for purchase orders. Using this, they can simplify the creation of agreements with vendors, monitor the efficiency of their purchasing processes, as well as reduce operational risks.

Price Range: IBM Emptoris only provides its pricing plans upon request, so be sure to contact the vendor to ask for a quote.

Detailed IBM Emptoris Review

Why Choose IBM Emptoris?

  1. Performance monitoring and analysis. IBM Emptoris allows its users to monitor the different aspects of their transactional performance. With this, it is easier to evaluate whether or not your contracts, your budget process, or your inventory usage are profitable.
  2. Simplified contract management. It can be tricky to manage your agreements with suppliers. This is why IBM Emptoris allows you to perform contract management, renegotiation, and renewals. Using these, you get complete visibility on all the aspects of your terms and conditions.
  3. Supplier analysis. IBM Emptoris will allow you to find the most suitable suppliers with its robust selection of supplier analysis tools. These include auction management, multi-stage negotiations, as well as bidding management. However, this is only available as part of the IBM Emptoris suite.

15. eBuy

eBuy dashboard

eBuy by Berkeley Laboratory is aimed primarily at companies, businesses, academic institutions, and research departments that desire easy access to an assortment of common office materials, lab, and computer equipment. This online ordering solution is accessible round-the-clock, which means you can check for available items and place your orders wherever and whenever you want. With eBuy, you won’t be burdened by complicated paperwork for procuring essential supplies, and orders typically get delivered within a few days. More importantly, all suppliers are contracted by Berkeley Laboratory, which means they have undergone strict screenings for quality assurance.

Price Range: eBuy does not offer its pricing information publicly. If you are interested in investing in this program, be sure to get in touch with the vendor.

Detailed eBuy Review

Why Choose eBuy?

  1. Easy search options. It features various search options and categorization of items by type to make it easy for users to find the items they want.
  2. Sustainable procurement. The company makes an effort to seek out green suppliers and mainly contracts local vendors as part of its small business program. This way, you can ensure that you are procuring sustainable products, and, as a bonus, you can help out your community.
  3. Fast and hassle-free ordering. One of the greatest things about eBuy is that it lets you easily find the supplies you need, and you can place your orders anytime. With this, you can lessen downtime and accelerate purchasing processes.

16. ISN

ISN dashboard

ISN is a cloud-hosted procurement hub purpose-built for large and medium-sized companies. This platform offers users a comprehensive search tool that will help them find and assess the suppliers and contractors they need as effortlessly as possible. With this, they get transparent profiles on their prospective partners so they can rest assured knowing that they are being connected to professionals who have been thoroughly screened, according to a wide variety of industry-specific criteria. It also comes with its own digital bulletin boards and built-in messaging system, so that collaboration between companies and suppliers is enhanced.

Price Range: ISN is only available by quote. If you would like to learn more about their pricing plans, kindly contact the vendor’s representatives.

Detailed ISN Review

Why Choose ISN?

  1. Simplified Contractor Assessments. ISN has an extensive network of carefully selected contractors. They are screened according to compliance regulations, insurance policies, health standards, and other industry-specific criteria that you may have so that the contractor sourcing process is simplified.
  2. Contractor Matching Options. Another great thing about ISN is that they will quickly connect you with reputable contractors and suppliers across the globe. In this way, you can cut down the time spent on researching which vendors will be able to help you with your operations.
  3. Better Collaboration With Suppliers. Part of the ISN protocol is to relay your requirements to contractors. This allows contractors to know how they can serve you better, and you can build a more productive partnership with them throughout your projects.

17. Moglix Vendor Portal

Moglix Vendor Portal dashboard

Moglix Vendor Portal digitizes end-to-end procurement for seamless business-supplier communications, automated processes, clear visibility over procurement stages, clear digital trail and documentation, and improved operational efficiency overall. This company, which is known for its large catalog of industrial supplies, arms, both businesses, and suppliers with collaborative tools for frictionless communications across multiple suppliers. Furthermore, by integrating with ERP systems, you can even set your supplier-communication procedures on autopilot.

Price Range: Moglix Vendor Portal only offers their pricing plans by quote, so be sure to get in touch with the vendor.

Detailed CureMD Review

Why Choose Moglix Vendor Portal?

  1. Large library of industrial supplies. Moglix Vendor Portal features over 2,000 brands from its suppliers from across the world. More importantly, the software makes it possible for you to find the best deals and suppliers
  2. Digital trail. Get full visibility on essential information such as purchase costs, shipment progress, total spending, and other information that can help you stay on top of your expenses.
  3. GST compliance. Moglix features several tools for easy adherence to existing laws and policies. This includes the auto-population of ledgers, ERP integrations, and a multi-user system, among others.

18. SAP Fieldglass

SAP Fieldglass dashboard

SAP Fieldglass is a cloud-based external workforce management tool built for businesses in the utilities, construction, aerospace, banking, and professional services sectors. With it, users can optimize operations, control expenditures, and accelerate processes while forging great relationships with their vendors. In addition to those, it also has risk mitigation features and compliance management features to help you keep your processes in line with industry regulations.

Price Range: SAP Fieldglass is only available by-quote, so be sure to get in touch with the vendor to get the specifics of their pricing details.

Detailed SAP Fieldglass Review

Why Choose SAP Fieldglass?

  1. Streamline Services Procurement. It allows you to manage various statements of work engagements. This way, it is easier to source, engage, and manage your suppliers.
  2. Robust Collaboration Tools. Make sure that your internal staff and suppliers are always on the same page using SAP Fieldglass’ built-in collaboration tool. This is great for finalizing contracts, renegotiating terms, as well as clarifying any problems on purchase orders.
  3. Updated Compliance Management. Procurement processes are complicated enough. This is why SAP Fieldglass takes care of compliance monitoring for you. This way, you can be sure that you are always up-to-speed on safety and security policies.

19. Intoweb

Intoweb dashboard

Intoweb is a procurement management system created to help companies that need to constantly restock their stocks. Be it office stationery, restaurant inventory, or other easily depleted supplies; this tool will allow them to control resource usage, foresee the need for materials, as well as coordinate purchases across departments. It also provides users with a robust audit trail feature, risk management system, and contract management tool to further streamline your procurement processes. To top it all off, this platform is available for deployment via cloud or on-premise.

Price Range: Intoweb offers quote-based plans. This way, you can be sure that you are only paying for the functionalities that you require. For more details, get in touch with the vendor.

Detailed Intoweb Review

Why Choose Intoweb?

  1. Inventory Optimization Always running out of paper, ink, or other office stationery? This platform comes with an inventory optimization tool that will show you how you can utilize your resources more efficiently. This way, you can prevent wasteful ordering and save money in the long run.
  2. Strong Cross-Examination Tools. Finding suppliers that will give you the best bang for your buck is difficult. This is why Intoweb offers a procurement module with strong cross-examination tools so that you can pinpoint which vendors are offering the items you need at the best possible price.
  3. Robust Expenditure Forecasting. Intoweb allows users to prepare for any expenditures using its forecasting tool. With this, you can get generate projections on your budget based on sales performance and resource usage.

20. Wroffy

Wroffy dashboard

Wroffy is a procurement software explicitly designed for IT departments. Whether you are looking to procure new hardware, software licensing, online marketing services, or IT infrastructure solutions, this platform offers reliable options for you. While it may not automate your procurement processes, this software greatly simplifies vendor sourcing as it automatically compares prices from different vendors. It also keeps all your IT purchases and negotiations in one place so that it is easier to review later on. If that’s not enough, the vendor also provides big discounts for bulk orders, which is great for large companies.

Price Range: Wroffy is available on a by-quote basis. Should you be interested in their pricing plans, get in touch with the vendor’s representatives.

Detailed Wroffy Review

Why Choose Wroffy?

  1. Personalized Packages. Wroffy understands that all its customers have unique IT needs. This is why they offer custom packages for software, hardware, cloud apps, as well as specialized IT services. You even get a dedicated account manager that will ensure you are getting the equipment you need at rates that fall within your budget.
  2. Availability of Discounts. If you are looking to procure IT products in bulk, Wroffy will offer you discounts. This way, you can save a buck or two on your new hardware, software, or IT infrastructures.
  3. Reputable Partners. One of the biggest perks you can get with Wroffy is that they have reputable partners in the IT industry. That’s why they offer an extensive catalog of the latest IT products. Among their most prominent partners are Apple, Cisco, and Microsoft.

Getting Down to Assessing the Best Procurement Software for Your Organization

There are plenty of options to choose from if you want to have a good procurement software solution for your company. It all boils down to assessing which ones meet your specific requirements and fall within your budget. Checking demos and signing up for free trials of applications on this list of 20 best procurement software can also help you choose the most suitable one for your company.

If you are still having difficulties getting that shortlist or picking the right one, we suggest you give Tradogram a try. For one, it helps control costs and enables you to manage your vendors on your own terms. Equally important, it comes at flexible pricing plans for small, medium, and large businesses alike. If you want to know more, you can gain in-depth information regarding the software by reading about Tradogram pros and cons.

By Jenny Chang

Senior writer at FinancesOnline who writes about a wide range of SaaS and B2B products, including trends and issues on e-commerce, accounting and customer service software. She’s also covered a wide range of topics in business, science, and technology for websites in the U.S., Australia and Singapore, keeping tabs on edge tech like 3D printed health monitoring tattoos and SpaceX’s exploration plans.

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