20 Best Procurement Tools for 2024

When the COVID-19 pandemic swept the world, governments and organizations alike were challenged. Government units had to scramble to procure enough vaccines for their populace. Meanwhile, organizations had to work hard to secure the materials they need to continue operating. Manufacturing plants, grocery stores, and other businesses faced this seemingly insurmountable obstacle at the time.

To address procurement issues, coordination is a must. Leaders need to negotiate prices while procurement managers have to provide the numbers. How much of a particular item do they need to have? Will it be enough to cover their needs or will there be a surplus? These are questions that they had to consider during the procurement process.

These days, such are queries that can be addressed using a procurement software tool. This is a kind of solution that automates the cycle and systematizes the whole workflow. Everyone involved can be coordinated to ensure that there are no missing materials and that the quantities are just right. As such, this list outlines some of the best procurement tools you can find on the market to help you narrow down which one suits your operations.

COVID-19 drastically changed the way organizations, even government offices, operate. The procurement aspect of businesses and government units in particular was badly affected. Organizations are still facing problems such as poor supply chain transparency and inaccurate data. These are the very same concerns that bogged them down at the height of the pandemic. Indeed, the novel coronavirus could have exacerbated this problem if it had existed before.

Even in the early days of the pandemic, McKinsey & Company already pointed out that businesses had to tackle such issues. According to the firm, there are six steps to supply chain recovery that they can take to ensure the viability of their inventories:

• Create transparency.
• Estimate available inventory.
• Assess realistic customer demand.
• Optimize production and distribution.
• Identify and secure logistics capacity.
• Manage cash and net working capital.

By taking these steps, companies will know how much materials they need to procure. For example, the firm predicted that fashion retail inventories would be halted by June 2020. However, should businesses actively take the necessary steps, they would still have 70-110 days of inventory or days of stock.

Low Inventories Across Various Industries

Unfortunately, after the worst of the pandemic, various sectors suffered from low inventories. The White House released a report showing that retailers had less than 35 days of stock left in June 2021. Inventory in all businesses would last less than 40 days. Data also pointed out that the manufacturing sector was the hardest hit.

Though this continues to be the case, the issue can still be remedied and the worst effects circumvented. There are plenty of tools that you can use to do this. You will not be alone in investing as supply chain statistics show that 50% of companies believe that technological innovations can have a significant impact on the area. To ensure that it runs smoothly, you can first look into e-procurement tools, which are solutions that can aid you in acquiring the supplies you need. The following are the top examples in the category that can help you achieve your goals.

Best Procurement Software in 2025

1. Kissflow Procurement Cloud

Kissflow Procurement Cloud is an ultra-flexible procurement solution. It allows you to take control of the whole process from start to finish with its customizable platform. Because of this, you can be sure that the software follows your workflow and not the other way around. As such, there is no need for the organization to overhaul its procurement process to accommodate the solution.

With this cloud-based application, you can finely control purchase requisitions. You will also gain full visibility over the status of purchase requests. This transparency will allow you to see changes immediately. In this way, you can act on them quickly to prevent a domino effect on issues.

From the same platform, you have prompt access to your product catalogs. Proactive budget management is also possible with Kissflow Procurement Cloud. And it also helps that it has automated routing so that requests go to the right individual. Thus, there will be little to no bottlenecks in the procurement process to allow the supply chain to move smoothly.

2. GEP NEXXE

GEP NEXXE offers an end-to-end supply chain solution. It is powered by AI to help users navigate the complex processes of procurement and supply chain management. The software also offers high levels of visibility so that you can respond to changes as soon as they happen with ease.

Furthermore, this cloud-native platform offers insights that could boost business operations. Thanks to its AI technology, you will be able to predict outcomes from available information. The system will also offer actions that might help your business so that your supply chain productivity is unimpeded at all times.

The state-of-the-art solution even has inventory and warehouse management tools. You have real-time access to every location so you can see summaries and status updates whenever you need them. Plus, GEP NEXXE has a mobile app to keep you apprised on the go.

3. AvidXchange

AvidXchange may be an accounts payable software but it is an important tool in procurement. After all, part of the procurement workflow is the settling of invoices with suppliers. With this solution, you can keep track of invoices you have not yet paid.

Once you receive invoices in the system, you can begin tracking and approving them. Since everything is in the platform, there is no need to deal with paper invoices. Thus, you do not have to worry about losing invoices and possibly missing settlement deadlines.

But one of the things that make AvidXchange an essential tool is its large supplier network. You can make payments to suppliers securely from within the application. This means that you do not have to go through a convoluted procedure to pay every partner—you can do it from within the solution.

4. GEP SMART

GEP SMART is another offering by GEP Software. Unlike NEXXE, which is focused on end-to-end supply chain management, SMART is focused on direct and indirect procurement. This cloud-native software aims to help you fully digitize your operations so that you can unify formerly disparate processes.

Because this is designed by procurement experts who understand the needs of procurement professionals, you will not be left wanting when it comes to features. Its sourcing module lets you identify suppliers and evaluate them quickly. Because of that, you do not have to spend so much time qualifying them. You can also manage them continually through the management module. This comes with a scorecard, which lets you see a summary of the performance of the supplier. In this way, you can make snap decisions whether to continue doing business with them or find others to take their place.

GEP SMART

Try out GEP SMART with their free trial

And with its spend analytics, you can understand how the organization spends money on procurement overall. This will help you identify savings opportunities so you can optimize expenditure. As well, you can track savings in real-time to see if your initiatives do work. If you want to dive more into the nitty-gritty of the software, you can look at the pros and cons of GEP SMART.

5. Bellwether

Bellwether is a purchasing software suite with two deployments: on-premise and cloud. The platform is known to fit the needs of organizations of all sizes. And, it offers end-to-end solutions, from purchasing and requisitions to invoice matching and inventory management. Key purchasing features include blanket orders, purchase order (PO) management, easy PO reprints and retransmissions, PO printing, and smart vendor and material file search. Moreover, it has support for multiple types of invoices and contracts. Also, it provides users with a free-form PO, supporting up to 30,000 characters.

Furthermore, all historical PO data is saved on the platform. Moreover, it also has a management reports feature to help with business analysis. The software integrates seamlessly with platforms such as HUON and QuickBooks. What’s also great is that it has a free on-premise desktop purchasing software solution. It has features for managing inventory, purchasing, requisitions, and many more. Lastly, more advanced features and cloud deployment are only available on premium plans. Pricing starts at $11 per user per month.

6. Paramount WorkPlace

Paramount WorkPlace is a procurement, expense, and requisition solution rolled into one. The platform helps organizations streamline their workflows and decrease processing costs. Moreover, it is known for being flexible enough to scale its features and capabilities with organizational needs. Hence, it is used by businesses of all sizes in a wide range of industries.

Key features include guided buying catalogs, centralized invoice matching, vendor contract management, tax engine, labor cost tracking, and project and job cost checking. Moreover, the platform does not only have multi-currency support. It also supports multi-company and intercompany purchase consolidation.

Furthermore, Paramount WorkPlace also integrates seamlessly with other business solutions. These include products from SAP, Oracle, NetSuite, and Microsoft. The product is deployed custom to your needs. Thus, it is only available via custom plans. You can get an in-depth look at Paramount WorkPlace pricing for you to better decide which plan is the best for your organization.

7. Procurify

Procurify is a web-based procurement and procurement solution used across industries. Its user base range from SaaS companies to institutions of higher education. It provides users with 360-degree visibility into their purchasing and spending processes. The platform does this by providing analytics, audit logs, and reporting features. These, of course, are tied together with management solutions such as PO management, customizable approvals, purchasing workflows, real-time customizable budgets, and recurring spend management.

Other key features include approval routing, cost management, inventory, expense filing, order requisitions, vendor management, and real-time budget tracking. Moreover, the solution supports location-based projects and can manage travel requests.

Furthermore, users can easily access these features on the Procurify mobile app for both iOS and Android users. It also integrates seamlessly with other third-party solutions such as Microsoft Great Plains, QuickBooks Online, and Xero, among others. Lastly, Procurify is only available via quote-based subscription plans.

8. Precoro

Precoro is another popular procurement software for businesses of all sizes. It offers a wide range of features housed in an intuitive user interface. Hence, it is considered one of the most easy-to-use solutions available today. Key features include supplier management, blanket PO, spend analytics, order management, delivery tracking, inventory control, vendor management, and purchase requisitions.

These can also be accessed using the Precoro application for iOS devices while retaining the same level of functionality and usability. Furthermore, the software integrates well with other third-party solutions such as QuickBooks and NetSuite. You can also integrate it with your SSO provider to increase the level of security. Also, with its advanced developer API, you can connect it virtually with any software.

Moreover, the platform is flexible enough to cater to any company of any size from any industry. It offers $35 per user if you have 20 users or fewer. For companies with more than 20 prospective users, Precoro is offered via quote-based subscription plans.

9. SAP SRM

SAP SRM is a procurement software solution specializing in supplier relationship management. It helps companies streamline their procure-to-pay process flow through workflow automation and centralization. In this way, users will have a 360-degree managerial view of their operations. Key features include self-service procurement, catalog management, plan-driven procurement, centralized contract management, and operational and centralized sourcing.

The product is popular among medium-sized businesses and large enterprises. It has an on-premise deployment and is configured custom to the needs of the organization. As such, it is only available via quote-based plans.

10. Tradogram

Tradogram is a procurement software solution known for its high out-of-the-box usability. The platform helps streamline processes by providing customization and automation tools. Key features include purchase-to-pay, approval routing, project management, contract management, order management, process automation, and customization options. It also has delivery tracking, strategic sourcing, and inventory control capabilities.

Moreover, it is also valued for its easy-to-use custom reporting tools. These help users create custom KPIs to fit their analytics framework and workflow. Also, Tradogram works well with other business solutions, including NetSuite, Xero, Oracle, and Sage. Lastly, it has a free plan available and its paid plans start at $24 per user monthly.

11. Oracle Fusion Procurement

Oracle Fusion Procurement is a comprehensive procurement software suite that is modular in its architecture. Users may either choose to deploy it as a standalone full-featured procurement management solution or as modular extensions to their current toolbox. It is billed as a source-to-settle solution that enables companies to streamline their processes, enable self-service procurement, improve supplier relationships, improve savings, and increase profitability. The platform is also fitted with analytics and reporting tools that allow companies to have a real-time quantifiable picture of their operations and performance.

Moreover, the platform has a mobile version for both Android and iOS devices. These enable users to procure while on the go and be kept in the loop. Other key features include procurement contracts, sourcing management, a supplier portal, and purchasing management. Lastly, Oracle Fusion Procurement is only available via quote-based plans.

12. SellerCloud

SellerCloud is an end-to-end ecommerce solution for online retailers. The platform provides comprehensive end-to-end tools such as its purchase-to-pay workflow. Key features include purchasing management, order management, and inventory management. It also has features for shipping, accounting, and reporting. Moreover, it provides users with a single-entry catalog to build and maintain one source of truth for their operations. The platform integrates with other solutions as well, including sales channels such as Etsy and Amazon.

As such, it supports multichannel ecommerce operations. Furthermore, it also has advanced features useful in warehouse management. These include custom inventory feeds and serial number tracking. Also, it has an intelligent pricing feature to help users reprice products based on profit margins, sales velocity, inventory aging, and custom rules of their choice. Lastly, it is offered via flexible custom pricing plans based on order volume.

13. IBM Emptoris

IBM Emptoris is a suite of products providing analytics and management tools for procurement and supply chain processes. The IBM Emptoris suite is made up of five products: Contract Management, Program Management, Sourcing, Spend Analysis, and Supplier Lifecycle Management. Together, these provide a contracts-based full-service procurement and spending management solution.

Key contract management features include contract creation, execution, discovery, renewals, and performance monitoring. Moreover, it can even support contract renegotiation. Because of these enterprise-grade tools, the platform is popular among medium-sized to large businesses. As it is configured and deployed according to your needs, IBM Emptoris is only available via personalized quotes.

14. PayEm

PayEm is an accounting solution with great purchase-to-pay solutions. It is considered a specialized global spend and procurement system with request to reconciliation capabilities. The platform is popular among businesses with multinational operations. Among its key features are spend management, expense reporting, and AP automation. Further, it offers budget management, digital receipt management, and payment scheduling tools. As well, the software has invoice and request capture capabilities, thanks to its mobile app for both iOS and Android devices.

The app also allows users to have all their cards in one place, from an employee card or shared virtual cards. This allows for easy monitoring of card limits and other details. And, of course, it makes on-the-go payments very easy. The product also works seamlessly with NetSuite, thanks to its built-in integration. Lastly, it is deployed custom to your needs. Hence, it is only available via quote-based plans.

15. Coupa

Coupa is a spend management solution that provides users with complete visibility and control over their procurement and spending processes. The platform is flexible enough to be used in a wide variety of industries, including consumer packaged goods, retail, education, and hospitality, among many others. And, because of its enterprise-grade features, it is popular among medium to large businesses.

Key features include procurement, invoicing, sourcing, expenses, inventory, contract lifecycle management, and budgeting. The platform also provides users with easy-to-use analytics tools. Also, it integrates fully with other business solutions, including Apptio, NetSuite, and Sabre, among many others. Lastly, Coupa is only available via quote-based plans.

16. Orderhive

Orderhive is an ecommerce automation solution that is popular for its procurement management features. It offers end-to-end solutions for shipping, order management, and inventory management. Other key features include ecommerce automation, purchase management, reporting and analytics, workflow automation, user management, invoicing, payment management, and warehouse management.

The platform is also quite easy-to-use. Hence, it is widely used by different types of brands from Cristiano Ronaldo’s CR7 to Driscoll’s. Moreover, Orderhive has mobile applications for both iOS and Android devices. So, users will be kept in the loop even when they are out of the office. The platform also integrates with other solutions, including QuickBooks, Magento, and WooCommerce. Lastly, pricing starts at $49.99 per month.

17. Prokuria

Prokuria is a web-based procurement automation platform specializing in sourcing and supplier management. It is known for simplifying and automating important workflows to bring down costs and improve efficiency. Key features include suppliers list management, real-time supplier tracking, real-time supplier chat, one-page requests, and supplier engagement monitoring.

Prokuria is also flexible enough to be used in a wide variety of industries, ranging from airlines and retail to tech and pharma. Moreover, as it is built on a RESTful API, it can also integrate with any ERP platform on the market today as well as custom software tools. Lastly, pricing starts at 15€ per user per month which is also, give or take, $15.

18. Manugics

Manugics is a cloud-based procurement solution that helps optimize purchasing and spending procedures. It is also fitted with supplier relationship management features, including collaboration tools. Key features include requisitions management, PO management, approvals, and reporting. Moreover, its supplier management offering includes invoice management features such as debit memos, credit memos, invoice purchase orders, and dynamic discounting, among others. But if you are looking for a purchase order software for QuickBooks only, there are alternatives, too.

Of course, it provides users with a comprehensive set of procurement features. These include real-time budgeting, compliance management, approval workflow, and self-service purchasing requests. Lastly, as Manugics is deployed custom to an organization’s particular needs, it is only available via quote-based plans.

19. Intoweb

Intoweb is a procurement management platform with comprehensive features, including procurement planning, order tracking, and inventory control. It also has advanced features such as product coordination, material foresight, and assessment reports. In this way, users will be able to make better data-driven decisions. Moreover, Intoweb has other products and modules that can connect procurement operations with other vital business processes. It has solutions for bookkeeping, invoicing, and workman’s compensation. In fact, its procurement software is just a module for its entire financial management suite.

While not having the most appealing visual interface, Intoweb makes up for this with its functionality. Also, because it is deployed and configured to your needs, it is only available via quote-based plans. The good news, however, is that the provider is known for making its products quite affordable.

20. Wroffy

Wroffy is a specialized procurement platform for IT operations. It is an IT marketplace that provides users with hardware, software licensing, and online marketing services. Its hardware equipment offerings include printers and scanners, business laptops, digital signage, storage and backups, and networking devices, among others. It also sells software platforms such as IT security software and even video editing tools.

The platform serves a wide array of industries and is a popular solution due to its competitive pricing. Plus, Wroffy offers volume pricing, which is a boon to organizations buying hardware and software licenses in bulk. With this, organizations can complete their hardware and software shopping in a single place.

What is the best procurement software for you?

Procurement is a complex process that leaves no room for error. A single mistake or variation can cause the whole workflow to crumble. And when there are bottlenecks, the organization loses opportunities. That also means you lose money.

Procurement tools such as the ones above exist to help you streamline the entire procurement procedure. This way, you do not have to spend so much time doing one thing, such as identifying suppliers and evaluating them. This kind of software keeps you moving to ensure that you supply the workforce with what it needs. Thus, they are better equipped to serve the stakeholders and end-consumers.

Among all these prime examples, though, there is one that stands out—Kissflow Procurement Cloud. As its name suggests, it is a cloud-based procurement solution. In an age where connectivity is no longer optional, this is important. Plus, this lets you keep an eye on the workflow at all times, even when you are mobile. Whenever there are changes, the solution will notify you immediately. With that, you can act on them, especially when they are critical to operations. It can also assist you in carrying out your procurement management plan.

Moreover, Kissflow Procurement Cloud is customizable. Whatever your current processes are, you can keep them. This is because you can tailor the platform to your needs. What’s more, it is easy to use so you can start controlling spending, processing requests, and managing vendors immediately.

By Nestor Gilbert

Nestor Gilbert is a senior B2B and SaaS analyst and a core contributor at FinancesOnline for over 5 years. With his experience in software development and extensive knowledge of SaaS management, he writes mostly about emerging B2B technologies and their impact on the current business landscape. However, he also provides in-depth reviews on a wide range of software solutions to help businesses find suitable options for them. Through his work, he aims to help companies develop a more tech-forward approach to their operations and overcome their SaaS-related challenges.