Procure to Pay Software

Get the best procure to pay software for your business. Compare product reviews, pricing below. Read our buyer’s guide for more help.

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Coupa Procurement Screenshot
Coupa eProcurement is a world-class purchasing system that is simple to use and affordable to buy. It allows organizations to automate manual procedures as well as maintain an electronic record of all purchases. The Coupa…
Client OS
Web
Deployment
Cloud Hosted
SMART by GEP Screenshot
SMART by GEP is the complete procurement solution with: Full spend analysis and opportunity assessments; Planning and project management; Auctions and sourcing; Contracts and lifecycle management; Supplier management…
Client OS
iOS, Android, Web
Deployment
Cloud Hosted
AvidXchange Screenshot
AvidXchange
★★★★★
★★★★★
(2)
AvidXchange is an accounts payable solution for midsize companies in industries including real estate, HOA, construction and financial services. AvidXchange’s cloud-based solutions automate accounts payable processes…
Price Range
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Starting Price
$20/month
Client OS
Web
Deployment
Cloud Hosted
Procurify Screenshot
Procurify
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★★★★★
(1)
Procurify is the go-to spend management solution for mid-sized companies. Across the world, hundreds of companies use Procurify to track, control and analyze their spending. With its comprehensive workflow and user-friendly…
Client OS
iOS, Android, Web
Deployment
Cloud Hosted
SAP Ariba Buying and Invoicing Screenshot
SAP Ariba Buying and Invoicing is a procure-to-pay software that provides ease-of-use when it comes to your procurement process. The software aims to streamline catalog maintenance, simplify commerce, and help manage each…
Client OS
Web, iOS, Android
Deployment
Cloud Hosted
Kissflow Screenshot
Kissflow is a digital workplace platform that helps track all work at your business, including HR, procurement, finance and operations, and more. Capabilities of these cloud products include process management, case…
Price Range
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Starting Price
$9/month/user
Client OS
Web, iOS, Android
Deployment
Cloud Hosted
Ivalua Screenshot
Ivalua
★★★★★
★★★★★
(2)
Ivalua is a complete procurement platform that provides a unified source-to-pay suite of solutions and functionalities to digitize all processes, manage all spend categories, and improve transparency and data quality. There…
Client OS
Mac, Windows
Deployment
Cloud or On-Premises
Zycus Procure-to-Pay Suite Screenshot
The Zycus Procure-to-Pay Suite guides procurement in your business to help you make the best buying decisions. Zycus Procure-to-Pay links in with your entire supplier network, such as inventory management, eProcurement…
Client OS
Web
Deployment
Cloud Hosted
ProcurePort Screenshot
ProcurePort is a cloud-hsoted eProcurement OnDemand software. The solution provides full purchasing functionality for purchase requisitions, reverse auctions, RFP/RFI/RFQ, procure-to-pay, spend analysis, and contract…
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Starting Price
$500/month/user
Client OS
Web
Deployment
Cloud Hosted
PurchaseControl Screenshot
Streamline your procure-to-pay process with PurchaseControl. This procurement management system will help you create POs, manage approvals, and understanding spending. The SaaS-based spend management tool has been designed to…
Price Range
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Starting Price
$15/month/user
Client OS
Web
Deployment
Cloud Hosted
web3 Screenshot
web3
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(3)
web3 is a cloud-based spend management solution that provides eProcurement features. These features can be implemented case by case (standalone modules) or as an integrated payment management suite. Web3 spend management…
Client OS
Web
Deployment
Cloud Hosted
Basware Screenshot
Basware
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★★★★★
(2)
Basware is a full source to pay automation software that delivers 100% spend visibility. Basware will streamline your financial processes and help your organization: Cut costs; Increase efficiency; and Reduce risk. Basware…
Client OS
Web
Deployment
Cloud Hosted
BeanworksAP Screenshot
BeanworksAP
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★★★★★
(4)
Beanworks AP is cost-saving accounts payable automation software that is streamlined and paperless. This cloud-based solution is easy to implement, flexible, and easy to use. Whether you process 100 invoices per month or…
Client OS
Web
Deployment
Cloud Hosted
SpendMap Screenshot
SpendMap
★★★★★
★★★★★
(3)
SpendMap is a cloud and on-premise purchasing software that can help automate your purchasing, payables, and materials management processes. With both deployment options available and a low cost to operate, SpendMap can work…
Price Range
   $     $     $     $     $   
   $     $     $     $     $   
Starting Price
$20/month/user
Client OS
Web, Windows
Deployment
Cloud or On-Premises
ePMX Screenshot
ePMX is a full blown robust purchasing solution. The software includes requisitions, PO’s, punchOut and eCatalogs, RFQ, receiving, invoicing, inventory, asset Management, and contract management. The software is simple to use…
Price Range
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Starting Price
$40/month/user
Client OS
Windows, Linux, iOS, Android, Mac, Web
Deployment
Cloud or On-Premises
Precoro Screenshot
Precoro
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★★★★★
(1)
Precoro is a spend management software designed to simplify procurement processes and greatly improve the visibility of your spend. It automates multiple procurement workflows such as purchase request, approval, purchase…
Price Range
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   $     $     $     $     $   
Starting Price
$19/month/user
Client OS
Web
Deployment
Cloud Hosted
WorkPlace Requisition and Procurement Screenshot
WorkPlace Requisition and Procurement is an on-line purchase requisition solution that directly integrates into your ERP’s Purchase Order module. It can also be expanded to be a complete procurement solution in a single web…
Price Range
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Client OS
Web, iOS, Android
Deployment
Cloud or On-Premises
BPM Screenshot
BPM is intended for businesses that want a simple and easy to use purchasing software they can start using today. BPM includes easy set up of requisitions, PO’s, receiving, invoice, and even inventory. The software is simple…
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Starting Price
$30/month/user
Client OS
Web
Deployment
Cloud Hosted
Fraxion Screenshot
Fraxion
★★★★★
★★★★★
(4)
Fraxion is a cloud-based procurement solution that provides spend management for your business. The solution is easily accessible and provides a layer of efficiency, expense control, and risk management. Fraxion helps…
Price Range
   $     $     $     $     $   
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Client OS
Web, iOS, Android
Deployment
Cloud Hosted
ProcureWare Screenshot
ProcureWare
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(2)
ProcureWare is an integrated procurement system that provides supplier management, sourcing, contract management. The software gives increased visibility and collaboaration for supplier management and online bidding…
Price Range
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Starting Price
$12,500/year
Client OS
Web
Deployment
Cloud Hosted

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Procure to Pay Software Buyer’s Guide

What is Procure to Pay Software?

Procure to pay software manages all aspects of the procurement process for a business, which includes requisitions, purchasing, receiving, paying, and proper accounting for received goods and services. While related to procurement software, a procure to pay system goes a step further by helping the purchasing department link with the accounts payable department to ensure a streamlined purchasing supply chain for your company. This can provide deeper insights into the buying habits of your company and overall improve cash-flow and reduce financial commitments.

Procure to pay is more of a subdivision within the procurement process. It manages the supply of needed purchases, enables requisition of products, creation of purchase orders, handles receiving and invoice reconciliation, and finalizes the proper recording within accounts payable. The procure to pay process can be very complex for some companies. This has led to the development of end-to-end software suites that can automate each step along the way.

Some ERP software will include core parts of a procure to pay process, such as an accounts payable and general ledger module. These ERP systems can have a built-in procure to pay process, while some procurement solutions are marketed as a complete procure to pay tool that can integrate with your existing ERP solution.

SMART by GEP Procure to Pay Software Spend Dashboard
The spend dashboard in SMART by GEP can show your spend by top categories or suppliers.

Features of Procure to Pay Software

  • Supplier Management: Manage supplier relationships. Onboard your suppliers into the system, collect outstanding information, attach invoices or receiving POs to specific suppliers, monitoring supplier risk, and optimize the companies you partner with.
  • Vendor Database: Research vendors and choose the ones to purchase from. Sort vendors by risk score, prices, location, and more.
  • Approvals: Manages your purchase requisition process. Let users submit purchase requests for products. Send requests to management for approval. Send approved requests to vendors.
  • Purchase Orders: Create purchase orders detail product orders. Ship to the appropriate supplier for speedy delivery.
  • Inventory Management: Manage receiving and shipments that come in from purchase orders. Enter in orders into your inventory once they arrive. Record any remaining costs left to pay towards vendors and suppliers.
  • Invoicing: Create invoices for your accounting department to pay and pair them with purchase orders. Code charges correctly and link them with any organizational budgets.
  • Contract Management: Automate contract workflows and extract necessary purchase and financial details.
Coupa Procurement Procure to Pay Software Supplier Details
Manage all information about your suppliers within Coupa Procurement.

Benefits of Procure to Pay Software

The advantages of procure to pay software include a streamlined purchasing process and better real-time insight into your company’s buying habits. Purchase to pay software can also highlight problem areas in your buying cycle (inefficiencies) and which suppliers you have the most difficulty with (regarding shipping times, costs, and other risks). Some of the top benefits of procure to pay systems include:

Unified Purchase Management Platform

A procure to pay software provides one location for all purchase-related activities. This includes all requests for goods, services, components, tools, and travel expenses. The more uses you find for your procure to pay software means a larger percentage of users that will need access. This can provide better analytics on your spend, and hold employees more accounting for any business expenses they incur (or are looking to incur).

User-friendly views on both the back and front end should be considered. Today’s options offer shopping experiences for the users which lets them request purchases on goods and services they need t perform their job well. These requests flow through the proper channels to management who have better insight into how purchases affect the overall budget.

Eliminate Errors, Lower Risk, and Prevent Fraud

The automation provided within a procure to pay software will help reduce the time spent with manual processes, which will reduce the risk of human error. The software will also help keep your supplier information organized in one easy to access location. This can get rid of any barriers in communication between buyers and suppliers.

SAP Ariba Buying and Invoicing Procure to Pay Software Orders and Releases
Manage orders and releases in SAP Ariba Buying and Invoicing.

P2P Software vs Spend Management Software

Procure to pay software, sometimes referred to as P2P software, is commonly associated with spend management software. A business looking to implement either has the same end goal; to automate their purchasing processes. While marketed under separate names, procure to pay software and spend management software will provide you with the same desired functions.

P2P software focuses on automating the entire procure to pay cycle by giving control at each level in the procurement system. This means the flow of data can move along from the department making the request, to the purchasing department to approve, and finally to the accounting department to record.

Spend management software is also used to handle the beginning to end management of a company’s purchasing cycle. However, spend management software has a stronger focus in analytics. The solution is best used to analyze spend, categorize your transactions, and look at the performance of your purchasing department. This, in turn, will provide greater efficiency, lower supply costs and risks, and make for more effective collaboration between your purchasing department and the rest of your organization.

Ivalua strategy and analytics procure to pay software
Get strategy and analytics within the advanced reporting of Ivalua.

Contract Management in Procure to Pay Software

Contract management plays a big role in procure to pay software as it helps connect spending to individual contracts. This will help turn negotiations into savings for you and your suppliers. Contract management modules will usually handle the entire lifecycle of a contract; from the request, creation, approval, negotiation, compliance, management, and more.

In order to better your company’s financial portfolio, a contract management functionality within procure to pay software will be able to access all necessary financial data included in the contract language. This information can be captured during the contract creation process, or for outside or 3rd-party contracts, some procure to pay software will provide OCR capabilities or extracting features that can scan any relevant data.

Contracts can be stored and prioritized based on their procurement needs, compliance needs, and ease of ongoing management. Ultimately this will help maximize the value of your contracts and ensure your suppliers stay happy as they continue to do business with you.

Zycuz Procute-to-Pay Suite Author Contract
Monitor the status of existing contracts in Zycus Procure-to-Pay Suite.

Control Budgets in Procure to Pay Software

Budgeting functionality within your procure to pay software helps you implement a proactive way to track expenses and invoices and overall manage your budget before your spend occurs. This prevents any reactive measures of using old historical data to make future budget decisions.

Budgets can be driven off many pieces of data and created for whatever department, project, or capital you are looking to drill down into. A budgeting and forecasting tool within a procure to pay software can create a full budget adjustments ledger. This ledger will show expense reports, non-PO invoices, and PO creation which gives you line-items details to know what has been approved towards your budget.

If the procure to pay software has an enhanced end-user shopping experience (complete with a shopping cart that employees/users can add items to), users can be given budgetary details directly in the shopping cart. Prior to any “checkout”, users will be able to see how the purchase of these items may affect their budget.

Budgeting capabilities are built directly within procure to pay software to help give a sense of owning spend before it gets committed to a vendor. Employees and managers may think twice before submitting purchase requests if they can see the overall effect it could have on their project, department, or company’s overall financial goals.

web3 Invoice Matching Procure to pay software
Match invoices to their appropriate location or budget in web3.

Invoicing in Procure to Pay Software

One of the quickest ways to streamline work in your accounts payable department is via improved cash flow via invoicing. Invoicing is a critical feature found in procure to pay software. Implementing invoicing capabilities via procure to pay software will help reduce paper invoices, reduce your cost-per-invoice, and improve working capital management.

Within procure to pay software, suppliers can send electronic invoices immediately. This capability is offered via a supplier portal, which lets a supplier receive an email and click a button to send an invoice, with no registration or sign up. These invoices can be handled automatically without the accounts payable department having to do any work at all, except for the occasional invoice approval.

Basware Procure to pay software Invoices
Manage your invoices via the accounts payable dashboard in Basware.