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18 Best eProcurement Software in 2020

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Tradogram Tradogram provides a set of features for business users to increase productivity and perform core fu...

by Tradogram

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PRICE ON REQUEST

Features :

Multi level Management
User Permission
Inventory
Budget
Approval
Requisition Processing
Purchase Orders
Invoices
Instant messaging
6 More

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Supported Platforms :

Deployment :

TYASuite Procurement to Pay Software

by TYASuite

(69 reviews )

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Starting Price

₹1,250.00

Features :

Access Control
Add On
Receipt Entry
Invoices
Payment Options
Purchase requisitions
Purchase Orders
Reports
Security
Performance Management
Vendor Management
Multi Location
Purchase Invoice
10 More

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Deployment :

Zycus Procurement Software Suite Procurement Management Software

Zycus Procurement Software Suite What is the Zycus Procurement Software Suite? Zycus Procurement Software Suite is a software desi...

by Zycus

(1 reviews )

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PRICE ON REQUEST

Features :

Requisition Processing
Catalog Management
Spend Analysis
eSourcing
Project Management
Contract Management
Purchase Order Management
Invoice Management
Supplier Management
Financial Management
Payments & Discounting
Electronic Invoice Capture
Invoice Matching & Workflow
10 More

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Supported Platforms :

Deployment :

GEP Smart Procurement Management Software

GEP Smart SMART by GEP is one of the top procurement software as it provides comprehensive, enterpr...

by GEP

(1 reviews )

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PRICE ON REQUEST

Features :

Validating Data
Tax Management
Dashboard
Savings
Sourcing
Artificial Intelligence
Contract Management
Supplier Management
Procurement
6 More

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Deployment :

Mapol Vendor Management Software Procurement Management Software

Mapol Vendor Management Software What is Mapol Vendor Management Software? Mapol Vendor Management Software helps reduce the paper...

by Mapol Business Solutions

(2 reviews )

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PRICE ON REQUEST

Features :

User Access Management
System Integration
Vendor Management
Preferred Vendor List
Streamline Purchase Process
2 More

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Deployment :

TenderWizard Procurement Management Software

TenderWizard What is TenderWizard? TenderWizard is a procurement software that brings in next-gen innovat...

by Antares Systems

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PRICE ON REQUEST

Features :

Procurement Management
Tender Management
Multiple Tenders
document Management
Vendor Management
Payment Gateway
Digital Signature
MIS Reports
Email/SMS alerts
Contract Management
Catalogue Purchase System
8 More

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Deployment :

PTSOL Procurement Management Procurement Management Software

PTSOL Procurement Management Procurement software by EAMbrace is a state of the art solution which enables organizations to ...

by PTSOL

(2 reviews )

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PRICE ON REQUEST

Features :

Workflow Management
Email Monitoring
Alert
Support
Vendor Management
Track Responses
Purchasing
Risk Management
Billing & Invoicing
Approval
Supplier Management
8 More

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Supported Platforms :

Deployment :

VENDX VENDX is a best procure to pay software solution that fits painlessly in your procurement organizati...

by MavenVista

(2 reviews )

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PRICE ON REQUEST

Features :

Purchase Order Management
Analytics and Reporting
Integration
Dashboard
Audit
Transaction Management
Auction
Decision Making
User friendly interface
Data Integrity
Compliance Management
8 More

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Supported Platforms :

Deployment :

Eyvo eProcurement Solutions Procurement Management Software

Eyvo eProcurement Solutions Eyvo eProcurement Solutions is a procurement management software that provides you with complete mob...

by Eyvo

(2 reviews )

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PRICE ON REQUEST

Features :

Budget Management
Expense Management
Billing & Invoicing
Analytics and Reporting
Purchase Order Management
Mobile Support
Contract Management
Attachment Support
Catalog Management
Customisation
7 More

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Supported Platforms :

Deployment :

DeltaBid Procurement Management Software

DeltaBid Delta bid provides a set of features for business users to increase productivity and perform core fu...

by DeltaBid

(1 reviews )

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PRICE ON REQUEST

Features :

Run RFIs, RFQs, RFPs and Reverse Auctions
Templates
Organize buyers’ tasks
Security
Inventory Management
Catalogue Management
Billing & Invoicing
Online Procurement
Purchase Order Management
Risk Management
7 More

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Supported Platforms :

Deployment :

Coupa Procurement Software Procurement Management Software

Coupa Procurement Software Industry leading Procurement management software with an easy consumer like shopping experience Coup...

by COUPA

(4 reviews )

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PRICE ON REQUEST

Features :

User Delight
Contract Management
Supplier and Purchase Order Management
Track Spends against Budget
Accelerate Approvals
Leverage Flexible Forms
Manage Complex Services Spend
Amazon Business
Enterprise Resource Planning
6 More

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Deployment :

e-Procurement suite Procurement Management Software

e-Procurement suite e-Procurement suite is one of the best eprocurement software that includes Tender Management, e...

by C1 India

(1 reviews )

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PRICE ON REQUEST

Features :

Indent Management
RFX Creation
Bid Submission
Bid Opening and Evaluation
e-Auction
Vendor Selection and Finalization
Vendor and Contract Management
4 More

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Supported Platforms :

Deployment :

Expenzing Procurement Manager Procurement Management Software

Expenzing Procurement Manager ERP systems are perfect for managing procurement of regular raw materials or direct spend. When it c...

by Expenzing

(1 reviews )

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PRICE ON REQUEST

Features :

Discipline your spending
Expenzing Procurement Manager
Hundreds of specialists. One procurement solution.
The right processes are built into our software
Information is purchasing power
Optimization
Security
4 More

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Deployment :

Sap Ariba Procurement Management Software

Sap Ariba Sap Ariba provides a set of features for business users to increase productivity and perform core fu...

by sap

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PRICE ON REQUEST

Features :

Add to Compare

Supported Platforms :

Deployment :

Procurify Procurement Management Software

Procurify Procurify provides a set of features for business users to increase productivity and perform core fu...

by PROCURIFY

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PRICE ON REQUEST

Features :

Customization
Purchasing
Budget
Expense Management
Vendor Management
Audit Logs
3 More

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Deployment :

Vend X Vend X provides a set of features for business users to increase productivity and perform core funct...

by MavenVista Technologies

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PRICE ON REQUEST

Features :

Supplier and Purchase Order Management
Purchase Orders
Supplier Management
Budget Management
Order Management
Logistics
Bid Management
4 More

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Supported Platforms :

Deployment :

Xeeva Xeeva provides a set of features for business users to increase productivity and perform core functi...

by Xeeva

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PRICE ON REQUEST

Features :

Add to Compare

Supported Platforms :

Deployment :

Avidxchange Procurement Management Software

Avidxchange Avidxchange provides a set of features for business users to increase productivity and perform core ...

by AvidXchange

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PRICE ON REQUEST

Features :

Invoice and Billing
Purchase Orders
Payment Options
Mobile App
1 More

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Deployment :

Bellwether Procurement Management Software

Bellwether Bellwether provides a set of features for business users to increase productivity and perform core f...

by Bellwether Software

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PRICE ON REQUEST

Features :

Purchasing
Overview
Requisition Management
Receiving
Invoice Generation
Inventory Management
3 More

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Supported Platforms :

Deployment :

Compare Products

Tradogram
TYASuite Procurement to Pay Software
Zycus Procurement Software Suite
GEP Smart
Compare Now

Buyer's Guide for Top Procurement Management Software

Found our list of Procurement Management Software helpful? We’re here to help you make the right choice and automate your business processes. Let’s discover some of the essential factors that you must consider to make a smarter decision!

What is Procurement Management Software?

Procurement management software is used to manage the purchase processes inside an organization. This includes initiating and completing processes related to purchasing orders, product ordering, invoice sharing and bill payment. Basically, procurement management software is used to streamline the purchasing process of products and services. This software makes the administration process easy and saves a lot of cost and time.

All procurement-related information can be managed with procurement management software. It helps collect and analyze procurement-related details to streamline activities related to purchase and orders.

Preventing spot shortages and executing financial transactions are as easy with cloud procurement software as verifying purchase orders. Managing the online ordering process, generating purchase orders, matching invoices with receivables and paying bills electronically are key functional areas of the software.

Procurement managers can track and manage different vendors efficiently and stay updated about the terms of the contract, rates of procurement, negotiated price, etc.

Procurement Management Software Features

Procurement software solutions support comprehensive features for managing multiple vendor-related processes such as purchasing, supplier control and sourcing. The platform ensures that you maintain a good relationship with vendors with pre-defined terms of service, negotiated rates, and so on.

Supplier management

Online procurement management system offers supplier management capabilities necessary for handling the entire supplier lifecycle. The best procurement software is equipped to help with performance evaluations for different suppliers to ensure that they are abiding by the terms of service. Procurement software helps with identifying and selecting the best suppliers for your business.

Requisition management

Requisition management is necessary to create, track and process purchasing requests in an organization. Purchase management systems help with requisition management through process transparency, inventory optimization and actionable insights. Requisition management is critical for mitigating risks associated with doing business.

Contract management

Cloud procurement software handles the entire contract lifecycle by linking together systems covering sales, legal, procurement and other stakeholders. The centralized repository manages contract administration by tracking savings, compliance and performance. The feature supports automated document creation aside from an easy contract data flow for efficient work processes.

Sourcing

Procurement software helps companies with supplier intelligence and collaborative authoring. While suppler intelligence is used for finding the best suppliers available, collaborative authoring offers templates, wizards and flexible forms for building quotes/multi-line proposals. The sourcing dashboard attached to the procurement management system offers a 360-degree view of different sourcing activities.

Invoice Processing

The best procurement software solution helps capture data related to discounts, payment terms, mode of payment, etc. and updates these details automatically on the electronically generated invoice. It further helps generate purchase orders, match purchase orders with the invoice and optimize your invoice processing workflow.

Purchasing Software

Automating processes like creating purchase orders, streamlining negotiated prices and ensuring compliance of policies, everything is done by purchasing software. This software can also generate purchase orders with no manual or physical intervention.

Procurement Analytics Software

Procurement software also has the option to provide analytics for different domains. With the analytics tool, one can make exact and accurate decisions. Analytics is also useful to make data-based purchase decisions at competitive prices.

Spend Management Software

The procurement management system also acts as a spend management software which includes activities like sourcing, purchasing, and payments. With this software, organizations can control how much they spend on each division.

Procurement and Inventory Management System

Procurement software can also be used to manage inventory. One can keep records in an organized manner, in multiple formats. This software also allows agents to monitor relevant information. And the best part is all this can be automated. The procurement software includes information about the products, their specifications, date of acquiring, last used and number of items present in stock. The information is updated automatically to ensure that the data present is accurate.

Procurement SaaS

Procurement SaaS is a new feature in procurement software. E-procurement solutions offer security with no hosting costs. Data that is stored on the cloud is actually owned by the customer but hosted by the provider. Automatic updates are provided and there is no need for customers to have any particular hardware specifications.

What are the Core Functionalities of Procurement Software

Controlling procurement processes for staying on top of all orders is guaranteed by the online procurement management system. All these are made possible by crucial functionalities offered by the best procurement software.

Order and purchase spend management

The best procurement software provides order and purchases management capabilities to reduce the administrator's workload. The centralized catalogue system helps with efficient order management processes whereas purchase management helps with insights into all transactions as well as commercial compliance.

Improved supplier management

The best procurement management systems are beneficial for handling the entire supplier lifecycle process including their performance, general information and associated risks. The unified record helps with segmentation and onboarding processes, while at the same time helping procurement teams access the entire supplier data.

Compliant purchasing

Purchase management software's real-time purchase tracking abilities help reduce both operating costs and cycle time. Compliant purchasing built-in within this feature helps streamline both purchase order operations and purchasing requisitions. This feature helps organizations make direct purchases from authorized suppliers every time the need arises for quick buying.

Standardized contract lifecycle

Procurement software is used by contract reviewers for checking deviations in a contract during the early negotiation stage. This procedure highlights risks that may be found and suggest required changes to make it foolproof. Businesses also receive automatic notifications and alerts every time a contract is about to expire so that the possibility of delay is reduced and there are timely renewals.

Benefits of Procurement Management Software

Business operations are simplified with smart procurement tools. Smart sourcing along with intelligent purchasing decisions are core benefits of using the software.

Transparent spend analytics

The transparent spend analytics feature of procurement management systems are critical for improving a company's business strategy. With this option, it is easy to identify areas where you can cut costs in terms of procurement. You can also use this feature for assessing best deals that have been made so far. Such data helps businesses negotiate better for upcoming deals.

Streamlined procurement cycle

The entire procurement lifecycle starting from managing contracts to sourcing suppliers as well as handling purchases can be managed with procurement management software. You can further use the software to elevate the performance of the procurement team, enhance the business's strategic reach and accelerate digital transformation.

Efficient collaboration with suppliers

Procurement software solutions offer a supplier database for searching and analyzing best suppliers available. The predefined registration procedure helps with streamlined onboarding of new suppliers, their enrolment and categorization. You can collaborate easily with all suppliers by checking their past performance records and detailed profiles before finally selecting them.

Real time sourcing auctions

Best procurement software solutions would provide you with safety nets, extension rules strategies for organizing successful auctions. Just the way you would create and forward a request for proposal, sourcing auctions are similar processes deployed for choosing the best supplier. All you got to do is create an auction and enable the real-time bidding process to start the process.

Inventory management

Procurement software solutions are used for tracking receipts, movement of stock, transfers and issuance. As soon as the stock gets low, the software would send quick reminders for replenishment. Direct fulfillment and buffer stock are the other capabilities offered by the online procurement management system.

Budget control

Monitoring the expenditure of all sourcing projects and streamlining these is easy with the purchase management system. The application centralizes the financial data for easy purchases as well as approval workflows. With the best e-procurement software, you will not just link budgets to spending but also look after different budget types such as capital, operating and project/contract-based.

Things to Consider When Buying Procurement Software

A range of functionalities suited for businesses of all sizes is what defines procurement software solutions. Let us have a look at a few metrics that should be considered for choosing the best procurement software.

Standard operating procedure

Standard operating procedure or SOP is mandatory for carrying out complex operations. Procurement system software documents the standard operating procedures for all such complex activities so that you get quality output. This feature also reduces the possibility of miscommunication and ensures uniform performance across departments.

Approvals and requisitions

Simplify approval processes using cloud procurement software configurable workflows and email-based notification system. Through requisition support, you can simplify complex approval processes and follow the automatic routing procedure.

Supplier audits & second sourcing

Supplier audits and second sourcing help businesses work towards the outcome they are expecting from their daily operations. For the purpose, supplier audits are being used to verify targets and expectations that have been met so far. This helps ensure that the quality is never compromised. Second sourcing is a kind of insurance system which is relied upon for meeting unexpected situations.

Categories management

Purchase management systems categorize products into respective categories based on characteristics and traits. This database of products is available to departments across your office.

Procurement Management Software Solution

Procurement Management System Software Price
Standard	Starting Price	₹1,000.00
Advanced	Starting Price	₹7,800.00
Premium	Starting Price	Price On Request

Procurement Management Software FAQs

Q1 - What are the best free procurement tools for project management?

A. The following are the best free procurement tools for project management:

Q2 - Is there any open source procurement software available for project management?

A. Yes, there are open source procurement software for project management like SpenMapFree, Ivalua, SAP Ariba Procure to Pay, Procurify and Bellweather available online. But, these software do not have enough features to take care of every single aspect in an organization.

Q3 - What is eProcurement Software?

eProcurement software is a B2B software that helps vendors to buy goods & services, place orders and performs business deals and transactions

Q4 - List of best procure to pay software.

Q5 - How purchase ordering software helps with different stages of procurement management?

Procurement system software looks after different stages of procurement management for streamlining supply chain. The software does this by first identifying goods/services so required by an organisation before selecting the right vendor or supplier. Once this process is complete, procurement management systems helps with submitting purchase requisitions for creating purchase orders.

As soon as all these steps are complete, the supplier sends invoices to the respective organisation for final payment. All these activities are neatly documented with procurement system software so that the same can be later audited with e-procurement software's auditing feature.