Procurement 101

6 Best Purchasing Software for Small & Mid-Size Companies

Reading time:

5 minute read

Written by

Sarah Wilson

Why does your business need purchase order software? Insight into your company is more important than ever. A purchasing solution will help you control your costs, save you time on your accounts payable processes and allow you to track your company's purchase activity.

We will cover several platforms, the key features of each one, and review how each can help your business with your procurement processes. We also call out what each platform does well to give you an overview of what is possible. You can make the best decision for your company with insight into the best purchasing software available today. The top six procurement solutions available today are:

1.      Tradogram

2.      Procuredesk

3.      Pipefy

4.      Procurify

5.      Kissflow

6.      Procurement Express

Tradogram Procurement

Tradogram is an end-to-end cloud-based purchasing solution with several components that help streamline your procurement processes, manage your expenses and give you complete visibility of all purchasing activity within your business. Some of the stand-out features that simplify procurement in your business are:

Purchase Requisitions

A purchase requisition process is an important first part of the procurement process and can be implemented to streamline the procurement processes in your business. It is a formal process that documents the request for purchase within an organization. 

It standardizes how your team requests purchase items and allows procurement centralization. Without it, team members can often end up contacting vendors independently, confusing the process even more with multiple contact points for your supplier

Within Tradogram, purchase requisitions can easily be converted into Purchase Orders, making the process easy for your entire team.

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Invoice Matching

One of the most time-consuming processes in procurement is reconciliation. Did we receive what we ordered, and were we invoiced correctly from our supplier? Your accounts payable department spends most of its time matching purchase orders and receiving records and invoices from the vendor. Tradogram's proprietary three-way match process will automatically match the records from these areas and bring discrepancies forward for action.

Receiving (Delivery Notes)

Did you receive what you ordered? Knowing about order shortages as soon as they happen is critical for you to react appropriately. Knowing supplier shortages will allow you to respond quickly with alternate solutions. Tradogram's order reconciliation functionality provides an automated review of purchase receipts and will let you know when there is an issue.

Approvals

One of the best business controls you can implement is the approval process. Putting a system stop in place to allow review of purchase requests before they are bought is critical visibility you need in your business.

Within Tradogram, the approval setup is dynamic and flexible. Hierarchies can be setup and be adjusted to meet your needs. Exemptions to approver rules can be easily setup and the system quickly notifies the approver of an outstanding workflow. 

Strategic Sourcing (RFP/RFQ)

With ongoing supply chain constraints, it becomes more important than ever to manage the entire lifecycle of your contracts. From negotiation to fulfillment, it's crucial to have a full view of all vendor contracts.

Tradogram can set up an item master, allowing you to manage pricing from different suppliers easily. With the budget planner tool and built-in supplier communication tools, negotiation, communication documentation, and contract monitoring are more accessible than ever.

Using the available built-in suite of analytics around procurement KPIs, you can identify and maintain a list of approved suppliers.

Budgeting & Spend Analytics

A full suite of reporting and analytics gives you essential data at your fingertips, a critical component of a purchase order software. With an easy-to-design reporting portal, you can build custom reports and get real-time spend analysis data. Reports can easily be shared with the right stakeholders and can be limited to certain people to keep certain information private if needed.

Setting budgets is the best way to manage the spend in all areas of your business. This gives your team framework to operate in and allows for easy identification and diagnosis of any issues that may arise, when a given category exceeds the spend allocated to it in a budget.

Tradogram allows for easy budget setup by project or by category and is dynamic in its structure with the ability to set different budget levels by area. The system will notify you of any spend that is exceeding budget.

Tradogram is our platform, and we are really proud of it. It is a professional, easy-to-use, robust procure-to-pay platform that is made to fit your business. Click here to try a demo today. 

Procuredesk

Helping companies automate their purchasing processes, Procuredesk lets your employees manage the purchasing operations with an easy-to-use online shopping-like experience.

A total spend and procurement platform lets you see all your expenses in one place, with invoice matching, budget management, and spend reporting. What does it do well? This purchase order software combines purchase request and order functionality.

Pipefy

A highly customizable platform with smart-workflow management, Pipefy is customizable for most areas of your business. Not limited to procurement, this platform has modules for all areas of business, including HR and IT.

What does it do well? It concentrates information into one easily accessible area.

Procurify

With a simple, scalable platform, Procurify makes it easy for users to manage their business. Procurify easily integrates with platforms like Quickbooks and Amazon Marketplace. It has an easy, user-friendly interface that makes procurement management easy.

What does it do well? This purchase order software issues custom spend cards for each team member simplify expense management

Kissflow

An easy-to-customize, no-code workflow management platform, Kissflow allows you to customize your system to meet your business needs. This system has many options for displaying analytics that will enable you to view many aspects of your business, allowing you to manage your suppliers and keep a close eye on their performance.

What does it do well? Easy-to-navigate dashboards make analyzing your business a breeze.

procurement express

Best for small businesses, Procurement Express simplifies the procurement process for your business. Its intuitive platform allows you to split your expenses and allocate your spending across different business areas. Its fully customizable user management purchase order approval process is excellent for managing spend.

What does it do well? It has an offline mode that allows you to work when the internet is unavailable and will sync once you are back online.

Final Thoughts

Procurement processes are so essential to automate to get control of your business processes. It is vital to choose a purchase order software system that is easy to set up and use and has all of the features you are looking for. It is crucial to select a system that integrates well with your current system and that your employees can adopt quickly.

The best procurement software simplifies all workstreams from procurement to paying invoices and all steps. The increased visibility and control over spending are crucial and the most important reason to move your business to a procurement solution.

Procurement software

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