Written by Marijn Overvest | Reviewed by Sjoerd Goedhart | Fact Checked by Ruud Emonds | Our editorial policy

What is the Advantageof using Procurement Software?

The problem with most procurement processes is that it will sometimes take you all day just to complete every step and process. Companies that still rely on paper are spending hours upon hours listing down every important information gathered from the series of talks with the suppliers. Not to mention the long list of paperwork that needs completing. 

Finally, you have the need to get your superiors to sign your request for quotations and requests for information. Imagine how many days you have to wait or line up in his/her office all because your procurement process won’t move unless you get those signatures.

Imagine all those tasks done with just the simple click of a button.

Of course, these programs are only assisting the company with more than half of the actual procurement process. In the end, the procurement manager is still in charge of how the whole procurement system should go.

The only disadvantage with using procurement software is, perhaps, in the event of a power failure or hardware malfunction, the procurement team can’t use the procurement software. Then again, this problem can be easily solved.

The 7 Most Popular Procurement Software to Use this 2024

Since you are already aware of the power of procurement software, it’s time to talk about the best software that companies can use for this year. 

Take note that the following software comes fully recommended by our top procurement managers. If you’d like to learn why then you can check out our Negotiation Gamechanger Course for more information on procurement tools and IT procurement.

But for now, here are the 7 best procurement software available for all procurement teams to use for this year 2024:

1. Kissflow Procurement Cloud 

Why choose Kissflow Procurement Cloud?

• End-to-end procurement solution to help with your procurement process. 
• Improved vendor relationships, thanks to the software’s ability to collect all vendor and supplier data into one platform. This makes it easier for users to set up their own metrics.
• The product software is easy to integrate with other accounting tools, ERP systems, and other business software. 

2. Approve.com

Why choose Approve?

• Control and visibility that allows procurement managers to keep track of purchases and the approval process.
• Improved vendor relationships, thanks to the software’s ability to collect all vendor and supplier data into one platform. This makes it easier for users to set up their own metrics
• A centralized procurement space where the user can take charge of the procurement process with just a simple push of a few buttons.

3. SMART by GEP

Why choose SMART by GEP?

• Control and visibility allows procurement managers to keep track of purchases and the approval process.
• The product’s lifecycle guide helps the user 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 get more savings without sacrificing supply quality.
• The program boasts powerful artificial intelligence and machine learning to help the user with procurement tasks.

4. Bellwether

Why choose Bellwether?

• Great file management. The software integrates with a document management system that makes your procurement process easier.
• Improved vendor relationships, thanks to the software’s ability to collect all vendor and supplier data into one platform. This makes it easier for users to set up their own metrics
• The program boasts of powerful artificial intelligence and machine learning to help the user with procurement tasks.

5. Paramount Workplace

Why choose Paramount Workplace?

• 360-Degree View of Data gives the user all important data that is important for the company’s procurement process.
• It comes not only keeps tabs on purchase orders, requests, and invoices but also records expenses, labor costs, and budgets
• The program boasts powerful artificial intelligence and machine learning to help the user with procurement tasks.

6. Procurify

Why choose this Procurify?

• 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.
• The software also 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.
• A centralized procurement space, where the user can take charge of the procurement process with just a simple push of a few buttons.

7. Precoro

Why choose this Precoro?

• End-to-end procurement solution to help with your procurement process. 
• A centralized procurement space, where the user can take charge of the procurement process with just a simple push of a few buttons.
• The product software is easy to integrate with other accounting tools, ERP systems, and other business software.

Procurement Expert’s Advice on Procurement Software

For this article, we asked an experienced procurement expert to share her insights to help answer common questions about Procurement Software.

Conclusion

In the evolving landscape of business, the adoption of procurement software has become not just a necessity but a strategic imperative. The aftermath of the COVID-19 pandemic has accelerated the digital transformation of procurement processes, leading to a surge in the use of diverse software solutions.

These tools not only streamline operations but also play a significant role in enabling remote work, fostering collaboration, and ensuring the continuity of procurement processes.

As businesses continue to navigate the challenges and opportunities in the digital era, the adoption of procurement software emerges as a transformative force, empowering organizations to stay agile, efficient, and responsive to the dynamic demands of the modern business landscape.