What is Procurify?
Procurify is one of the leading procurement software and purchasing platforms on the market. It allows teams to easily track, manage, and analyze spend so they can scale faster. The cloud-based procurement solution helps an organization centralize all purchasing data while empowering team members to do their own buying.
Other Alternatives & Competitors to Procurify
Coupa
Coupa is a cloud-based spend management platform that helps a business streamline the procurement process and control spending. The software platform provides a suite of apps that you can use to manage expenses, suppliers, and invoices in a single solution.
Coupa is purchasing software designed to improve compliance, reduce costs, and increase efficiency. The platform offers a flexible API that integrates with ERP systems and accounting platforms, making it easier for companies to manage spend data.
The brand also offers a comprehensive marketplace where users can connect with top suppliers and access a wide range of goods and services.
Top Features
- Spend analysis provides organizations with visibility into spend data, identifying areas to reduce costs and improve efficiency
- Procure-to-pay to automate and streamline the procurement process with automated PO creation, contract management, and more.
- Automated invoicing enables businesses to mechanize their invoice processing and payment workflows
Serviceable Market
Coupa can be on the expensive side, so the solution works best for larger businesses with a big budget. However, it can be used in a variety of industries, including manufacturing, retail, healthcare, and technology.
Strengths
- The user-friendly interface is intuitive and customizable, making navigation, training, and onboarding that much easier.
- Integrates with a wide range of ERP systems and accounting software, enabling businesses to streamline operations and improve data accuracy and visibility.
Pricing
The cost to use the web-based platform is not publicly available, as the system is highly customized based on the specific needs and requirements of each customer.
Coupa uses a subscription-based SaaS pricing model, where customers pay a monthly or annual fee based on the number of users and features.
Precoro
Precoro is procurement software that was created to help companies streamline procurement and the entire purchasing process. The software offers a range of features to automate procurement workflows, gain visibility into spending, manage suppliers, track invoices, and much more.
It also includes tools for spend analysis and budget monitoring, allowing companies to gain greater insight into spend patterns.
One of the key advantages of Precoro is the ability to integrate with other business systems, like ERP and accounting software. This allows a company to centralize its financial data and streamline procurement. Precoro offers an intuitive, user-friendly design that is scalable, customizable, and suitable for a business of any size.
Top Features
- Purchase order management enables users to create, track, and manage POs in a universal spot.
- Supplier management, where users can create and maintain a shared database, track performance, and communicate more effectively.
- Spend analysis provides companies with the visibility to recognize patterns and identify areas to improve efficiency.
Serviceable Market
Precoro is useful for a wide range of companies that need to manage their procurement and spend. It’s designed to meet the needs of companies of all sizes, from startups to large enterprises. It is particularly well-suited for brands that have a complex purchasing process or are experiencing rapid growth.
Strengths
- Highly customizable, allowing companies to configure the platform to meet specific needs, workflows, and processes.
- Intuitive and user-friendly interface that makes it easy for teams to navigate and perform tasks.
Pricing
Precoro uses a subscription-based pricing model, with the cost depending on the number of users and modules needed. Precoro offers four different pricing plans: Starter, Growth, Enterprise, and Custom.
- Starter: Designed for small businesses, it includes purchase order creation, approvals, and supplier management. The price starts at $35 per user per month, and is billed annually.
- Growth: Includes additional features like inventory management, contract management, and spend analytics. The cost starts at $49 per user per month, and is billed annually.
- Enterprise: Designed for larger organizations, it includes custom workflows, multiple currencies, and ERP integrations. The price starts at $99 per user per month, and is billed annually.
- Custom: Tailored to meet the specific needs of businesses. The sales team works with customers to create a custom plan that includes the desired features and modules.
Procurement Express
Procurement Express is a cloud-based, PO management software that helps a company streamline the procurement process and automate purchasing workflows. It is designed to track spending and helps the accounts payable team gain visibility into the entire procurement process, including approval workflows.
Procurement Express offers a user-friendly, intuitive solution that’s easy to install, and integrates with ERPs like QuickBooks and Xero. The system can be accessed from any device with an internet connection and provides real-time visibility into spending patterns.
Top Features
- Budget tracking in real-time enables users to actively monitor spend against budgets and identify potential cost-savings.
- Mobile accessibility from any smartphone or tablet, making it easier for teams to manage the procurement process on the go.
- Purchase order management allows companies to create, manage, and approve POs online, automating the entire process.
Serviceable Market
Procurement Express works best for small and medium-sized companies that need a user-friendly and intuitive platform for managing the procurement process.
The solution is suitable for a variety of industries, from manufacturing to education, hospitality, and healthcare. It works best for businesses that need to automate their procurement workflows, track spending, and gain visibility.
Strengths
- Streamlined approval process enabling users to quickly and easily approve POs, reducing the time and effort required to manage procurement.
- Integration with popular accounting platforms to streamline operations, reduce errors, and ensure accuracy.
Pricing
Procurement Express has three pricing plans:
- Starter: $25/month for up to 5 users and 25 purchase orders with email support.
- Business: $75/month for up to 10 users and 250 purchase orders with priority support.
- Enterprise: Custom pricing for 10+ users and 250+ purchase orders.
All plans include real-time budget tracking, unlimited suppliers, and ERP integrations.
Tipalti
Tipalti offers a top-tier SaaS experience for procurement teams to overcome even the toughest of purchasing challenges. The all-in-one cloud-based Procurify alternative features fully functional, multi-tiered e-procurement software that allows a business to streamline the PO process and gain greater control over spending.
The procure-to-pay solution allows a business to simplify and customize purchase requisitions while reducing financial and compliance risks. Collect RFPs and purchase requests, manage approvals, and monitor spending in a single spot.
Capture spend from the very beginning with simple, predefined custom forms that employees can use to submit purchase requests.
Tipalti centralizes control over the entire procurement process and ensures you collect all critical data upfront, including employee need, amount, budget item, and vendor and billing data. When it comes to Tipalti vs Procurify and other leading brands, these features are one of the main reasons Tipalti stays on top.
Top Features
- Eliminate unapproved spend and bring more purchasing under management.
- Void vendor duplicates and ensure compliance with a predefined onboarding and approval flow.
Serviceable Market
Tipalti is a solution designed to fit all company sizes and industries. The user-friendly platform can service everything from startups and small companies to enterprise corporations.
Strengths
- Integrated PO and payables solution, helping streamline company purchases, improve spend controls, and reduce AP processing time.
- Friendly requisitions improve adoption & spend under compliance, and a Slack integration helps to accelerate approvals
Pricing
Tipalti procurement is priced per user seat, which allows for organizations to conduct partial PO process rollouts; for example, in one geography, one department, etc., as some upper-mid market organizations do not want a fully decentralized procurement process.
How do you implement a technology-empowered procurement process?
It starts with simple automation.
Watch the “Best Practices for Implementing a Technology-Empowered Procurement Process” webinar to learn more.
Procurify vs Tipalti
What Does Tipalti Do?
Tipalti provides procurement automation software that integrates all phases of your AP and payment management system into a single cloud-based platform. The system enables finance and procurement teams to gain total control and visibility over their purchasing. The flexible solution allows a business to modernize purchasing operations, streamline the PO process, and establish a robust procurement strategy.
Tipalti integrates with any ERP and accounting system, including many popular brands, like:
- Oracle NetSuite
- Sage Intacct and Sage ERPs
- QuickBooks
- Microsoft Dynamic ERPs
- Xero
What Does Procurify Do?
Procurify is a cloud-based procurement solution that helps organizations monitor, control, and manage spend. Companies can centralize all purchasing data while allowing team members to do their own purchasing.
The system offers a variety of features, from customizable approvals to real-time budgets, spending cards, purchasing workflows, vendor/catalog insights, and a mobile app. It makes the real difference between simple purchasing vs procurement.
Features of Tipalti vs. Procurify
While both Tipalti and Procurify help companies automate the entire procurement process, each system is designed with different features and solutions to meet varying business needs. Here’s a look at some of the differences between both spend management software programs.
 |  | |
|---|---|---|
| *Limited functionality | ||
| Procure-to-Pay | End-to-end from requisition to PO creation, to payment and reconciliation | Limited invoice processing and payment capabilities |
| PO Creation | Streamlined workflow to automatically generate PO after purchase request is approved; allow custom fields | Comparable |
| Budget Control | Visibility into the budget status when approving purchase requests. Automated sync of Actual budget status from NetSuite
| Comparable in most features except for the Actual budget sync from NetSuite
|
| Invoice Management | Machine learning based header- and line-level OCR. Managed Services. 2- & 3-way PO matching, Invoice approvals, and actioning via email
| OCR header-level only, no managed services, no machine learning.
|
| Global Payments | Pay to 196 countries in 120 currencies, 50+ payment methods, Money Transmitter Licenses | Limited payment methods: only available via cards and domestic ACH |
| Multi-Entity | Manage multiple entities with different processes and workflows, gain consolidated view. Instant reconciliation across methods, entities, geos, currencies, and payable workflows
| Multi-instance. No branding, payment options, tax workflows, payment routing, approvers, etc. for each entity
|
| Supplier Management | Client-branded onboarding portal. 26K+ rules validate payments and reduce errors, screen against OFAC/SDN lists | No self-service supplier onboarding, no payment rules validations, no vendor portal |
| Integrations | API-based integrations with major ERP and accounting systems. no-code, Slack
| Comparable, gaps in NetSuite integration
|
| Tax compliance | KPMG approved tax engine – collect and validate IRS, VAT tax IDs, W-9, W-8BEN, VAT Details, 1099 & 1042-S reports, and calculate withholdings. Validates against 3,000+ rules
| No Tax capability
|
Knowing Which Solution is Best for Your Business
From sourcing to procurement, selecting which solution works best for your business is an important choice. This is especially the case if your business is trying to grow and scale quickly. So how do you know when to choose which platform? Here are a few ideas:
When to Choose Tipalti?
You are running a hyper-growth business that is scaling domestically or expanding internationally.
Tipalti is an award-winning procurement solution that can have your purchasing workflows automated in just a few short weeks with little or no development required.
The system is powered by a multi-entity cloud infrastructure that is built to help companies scale and grow to the next level, be it on a domestic or international basis.
In addition to procurement, Tipalti offers a variety of solutions that can help you grow, including AP Automation with features like invoice management and PO matching, Tipalti Card for managing spend, and Global Payments capabilities to 196 countries in 120 currencies via 6 different payment methods.
You wish to streamline vendor onboarding and management.
Tipalti has superb supplier management. The platform offers custom, self-service supplier portals that make vendor management (onboarding, contact data, etc). a quick and frictionless process. Tipalti ensures compliance and helps a business avoid vendor duplicates with a pre-defined approval process.
With Tipalti, vendor review is thorough. A business can run parallel purchase requests and new supplier approvals processes at the same time. Quickly access a vendor’s business data and search based on smart filters.
Sync all vendor data with your ERP master list and set automated notifications for contract renewals and negotiations. The system validates supplier payment data in real-time, using 26,000 global banking rules to reduce payment errors by 66%.
When to Choose Procurify?
You are a small business.
Procurify works best for those starting out. The system opens the communication link between all team players so that everyone gets the resources they need in a prompt manner. Procurify offers a variety of features to expedite the requisition approval workflow, including:
- Mobile app (Apple or Android) with real-time notifications
- Data import via CSV to consolidate into a single request
- Chatbox for requesters and approvers to stay connected
A business can also automatically replicate orders so that previously ordered items don’t need to be entered again manually.
You need in-depth catalog management.
Procurify enables a business to manage preferred items in a catalog and conduct vendor performance analysis. Track fulfillment KPIs and import items from other catalogs with line-level details (including images). The system allows a business to bundle items together and tag specific departments for efficient purchasing and to measure suppliers against metrics like quality, speed, accuracy, and price.
You do not need a solution for supplier payments.
Procurify offers spend management solutions that provide visibility and control with real-time data, streamlined approval workflows, and innovative tools to organize, track, allocate, and report on spend from a single instance.
However, Procurify has a very limited solution for supplier payments that offers US ACH only. Tipalti pays to 196 countries in 120 currencies via ACH, check, global ACH, wire transfer, PayPal, and prepaid debit card.
What Customers Are Saying
With Tipalti, we successfully optimized the way we were handling procurement.
Yehuda Metzger | Procurement, Taboola
The best practice is to have a purchase order first–the requisition needs to be approved before we receive the invoice. After we have a valid PO, we wait for the supplier to send us the invoice, and then we can match it to the PO and then make the payment. Tipalti has automated the entire process for us.
Henry Zhuang | Accounting Manager, Jumio
It was important to onboard our many users to a new process quickly, and after seeing Tipalti Procurement’s capabilities we knew it was the best solution for us. We wanted a global, unified process that could remain flexible and overcome the challenges that come from having different subsidiaries and locations.
Tom Gamlielle-Druyan | VP Global Supply Management, Cybereason
Summing it Up
The revolution for procurement management is here, and new tools are being developed every day to digitize and modernize purchasing processes.
This article covers just the tip of the iceberg on what’s out there. If you’re looking for more information on how to automate your buying, check out our ultimate guide to procurement management. If you’re ready to save time and money right now, get started with Tipalti today.
