Top-notch procurement software: Australia in the spotlight
By implementing procurement software, Australia-based companies can benefit from purchasing automation, efficient accounts payable processing, and better analytics. Ultimately, procurement software helps businesses gain full visibility over their spending. Wondering how to streamline your company's procurement? Precoro is an answer!
Why use procurement management software in Australia? See for yourself
Good procurement software is key to ensuring that the business has everything it needs — in time and under the best possible conditions. From daily tasks to global decisions, businesses are better off with a dedicated automation tool at hand.
Automate complex supply chains
Any procurement cycle includes repetitive tasks in order to source, order, and receive goods or services. Australia-based companies often need to be especially conscious of complex supply chains. Procurement software helps navigate these by automating sourcing and purchasing processes.
Build long-term supplier relationships
Managing suppliers is easier with Precoro. You can track supplier performance, manage their contracts, and ensure transparent communication — all via our system. Procurement management software helps build stronger, long-lasting supplier relationships and ensure highly appreciated timely payments.
Ensure compliance with local regulations
Australia-based companies have to navigate several government policies, for instance Commonwealth Procurement Rules or Indigenous Procurement Policy. Precoro helps businesses ensure compliance with local laws and industry standards, reducing legal risks and fines. You can trust our procurement software to be a trusted partner in handling compliance.
Gain full spending visibility
With spend management software, Australia-based businesses can track every dollar spent. This transparency helps businesses control costs, reduce maverick spend, and discover potential fraudulent expenses. It also helps businesses get data-based leverage for supplier negotiations.
Improve data accuracy
Data integrity is crucial for ensuring budget efficiency, quality expenditure analysis, and smart planning. Procurement software improves data accuracy by centralizing all the documents, catalogs, and supplier information in one place. The automation tool also makes it easier to match the documents and ensure that all the numbers in them are legit.
Streamline accounts payable processing
Invoice management can be time-consuming and error-prone. But with Precoro, the whole process becomes much easier and smoother. Procurement software like Precoro enables companies to automate invoice matching, approval workflows, and payment processing.
Make the most out of procurement automation — try Precoro!
Routine details shape long-term success. With Precoro, any organization can orchestrate its procurement processes to maximize every deal without draining human resources. In some locations, businesses are especially prone to benefit from procurement software. Australia is one of such countries. See what functionality Precoro offers.
Transparent approval workflows
Precoro offers sequential and parallel approval workflows. Managers can assign specific roles to users to build custom workflows for reviewing and approving documents. With custom approvals, companies can ensure that only verified requests and orders go through. In addition to this, employees can centralize and coordinate all the necessary information in Precoro. This helps avoid any misunderstandings between requesters and approvers.
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Customize parallel or sequential approval workflows for different locations, subsidiaries, cost centers, etc.
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Discuss the documents in real time by using notes, comments, or attachments directly in Precoro.
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Adjust custom document fields to add any information necessary for approval.
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Track document status in real time to check whether it’s been approved
Efficient supplier management
Businesses can use Precoro as their supplier management software to build transparent relationships with their vendors and suppliers. Precoro offers a comprehensive module to process the supplier — from the first step of vendor evaluations, through open communication, and to vendor performance analysis. Vendors and suppliers can also use a dedicated Supplier Portal to cooperate with Precoro users.
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New suppliers can register in Precoro using customizable registration forms.
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Supplier catalogs with pre-approved items help automate the process of filling in purchase requests or orders.
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Vendors and suppliers can access Precoro via the dedicated portal to participate in the RFP process, send documents, track payment statuses, communicate with buyers, and more.
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All supplier contracts can be safely stored in Precoro’s repository.
Reliable budgeting
Precoro helps businesses plan, track, and manage their procurement budgets. With our spend management software, Australian companies can be sure to know immediately if any purchase request exceeds the given budget limit. Responsible managers can then impose budget restrictions and avoid overruns. Precoro also makes it easy to ensure that the company’s procurement practices are aligned with the budgeted vision.
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Configure budgets for departments, locations, and timespans.
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Check budget availability while requesting a purchase or an expense reimbursement.
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Track budgets in real time and get notified if the limit is exceeded.
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Get complete visibility into budget usage to reduce maverick spend and save up to 7% on annual spending.
Superb AP Automation
Precoro helps businesses automate accounts payable and ensure that the company only pays valid bills — and does so on time. Even better, AP automation software helps enable companies to pay the invoices earlier and qualify for the early payment discounts. With accounts payable automation software, Australia–based organizations can benefit from clear and predictable accounts payable processes, which helps create more accurate financial plans.
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Employees can upload the invoices or let suppliers send them via the dedicated portal.
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Precoro’s AI-driven OCR technology processes invoices in minutes, extracting all the necessary data.
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Automatic 2- and 3-way matching allows users to quickly discover duplicate or fraudulent invoices.
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With Precoro’s integration capabilities, it’s never been easier to approve the supplier’s invoice and send it to the accounting system.
Extensive reporting
Precoro helps businesses make sense of their procurement data. Users can use preset reporting templates or create custom reports to get information about anything they manage in Precoro. Some of the categories to generate reports on include — but aren’t limited to — purchase orders, receipts, invoices, payments, or expenses. Precoro is a procurement software for Australian businesses to use to make sure they stay compliant with the internal financial limits and external regulations.
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Australian companies can extract any procurement-related information for the company stakeholders, controlling organs, or potential partners.
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Precoro offers a custom report builder with 20 filters and 120+ custom fields.
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Users can utilize direct integrations and schedule automatic reporting to send data to Power BI or Google Sheets.
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Employees can get invaluable historical information for making data-based procurement decisions.
Great integration capabilities to fit your current stack
If you are searching for procurement software that can be easily integrated with your ERP, accounting system, or any custom software — Precoro is exactly what you need. Even more, Precoro supports PunchOut integrations with some of the top marketplaces.
Grainger PunchOut
Simplify the process of purchasing industrial supplies by shopping directly in Grainger and having all item details automatically imported into Precoro PO or PR.
QuickBooks Online
Send orders, bills, and vendors from Precoro to QuickBooks Online automatically.
Xero
Sync POs, invoices, and supplier info from Precoro to Xero accounting software.
NetSuite
Sync subsidiaries, locations, POs, bills, vendor data, and more.
Precoro is a recognized market leader
Here’s what customers say about Precoro
Why Australia–based companies choose Precoro
With procurement software, Australian companies grow across all industries
Centralized procurement space for biotechnology teams.
Full spending visibility and purchasing control for technology companies.
Easily accessible procurement management space for construction projects.
Easy-to-use procurement system for educational institutions worldwide.
Peace of mind for finance and accounting teams in healthcare institutions.
Complete control over supplier contracts and all orders for hospitality teams.
The digital home for orders, invoices, and supplier data of nonprofit organizations.
Cost-efficient procurement software for the renewable energy sector.
About procurement software for Australia
How can procurement software be useful for businesses?
Can procurement software help Australia–based businesses with supplier management?
Can Australian businesses use procurement software to ensure compliance with the Indigenous Procurement Policy?
Can procurement software integrate with my existing business tools?
Does procurement software offer analytics?
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Spend Management
Implement the best spend management software to ensure 100% spend control and achieve up to 7% of yearly budget savings.
Procure-to-Pay Automation
Adopt procure-to-pay software and simplify your workday – because you can’t manage everything in spreadsheets forever.
Accounts Payable Automation
Optimize your accounts payable operations by automating manual processes with Precoro. Simplify document processing and focus on strategic tasks.
Supplier Relationship Management
Streamline your supplier management. Onboard and evaluate suppliers with ease and provide them with a convenient tool for cooperation.
Vendor Management
Build better relationships with vendors and get better deals. Check out how Precoro streamlines onboarding, evaluating, tracking, and collaborating with vendors.
Purchase Requisition Management
Use straightforward purchase requisition software with easy-to-follow templates and customizable approval workflows.
Mobile Procurement
Speed up procurement processes with the Precoro mobile app. Easily monitor spending, approve orders, and collaborate with your team on the go.