Procurement technology for a streamlined P2P process

Make purchasing simple for the entire organization with a comprehensive procurement technology solution. Gain full visibility into spending, request goods in a few clicks, customize approval workflows, and collaborate with suppliers in one tool.

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Streamlined requests and approvals

Build an approval policy that lets you operate smoothly and buy what you need without compromising compliance. Provide a seamless purchasing process while ensuring all inquiries are automatically routed to the right stakeholders.

  • Easily submit any type of request and track the status of each document in real time

  • Add notes, attachments, or comments to documents to give approvers all the context they need, and get notified of updates via email or Slack

  • Customize approval policies by defining specific criteria that would drive a workflow — such as cost centers, locations, subsidiaries, and monetary thresholds

  • Set up sequential or parallel approval workflows to streamline decision-making processes and expedite procurement approvals

Streamlined requests and approvals

Centralized data and process automation

Automate purchasing operations to eliminate repetitive manual tasks and spreadsheets. Consolidate all procurement-related data in one place to gain complete visibility over spending, make informed decisions, and drive savings.

  • Save up to 4% on annual spending and reduce maverick expenditures thanks to complete visibility into purchasing behavior

  • Monitor spending against budgets, view up-to-date inventory levels, and track document statuses and revision history

  • Analyze your spending to identify savings opportunities and track essential KPIs using Precoro’s custom report builder and visual dashboards

Centralized data and process automation

Empowered supplier management

Streamline and elevate your collaboration with vendors using Precoro’s dedicated Supplier Module. Control the quality of delivery, negotiate better deals, and prevent supply chain disruptions.

  • Invite new suppliers using customizable registration forms and keep the vendor information in one place

  • Create supplier catalogs with pre-approved products and services to save time and optimize the ordering process

  • Never miss a contract renewal date thanks to a comprehensive contract repository that stores all relevant information in a convenient place

  • Foster transparency and collaboration with the Supplier portal, where your vendors can receive purchase orders, participate in the RFP process, send invoices, and track payment status

Empowered supplier management

Seamless compliance monitoring

Increase transparency over all procurement activities to more easily align them with internal policies and regulatory requirements. Minimize the risk of unauthorized or non-compliant purchases.

  • Establish budget limits, approval policies, and delegations to prevent any uncontrolled spending

  • Confidently match all purchase orders, invoices, and receipts using Precoro's 3-way matching feature

  • Ensure a complete audit trail that captures every transaction change in detail

  • Leverage dynamic workflows to engage relevant stakeholders, including IT and legal departments. Involve them in due diligence checks and give them control over spending

Seamless compliance monitoring

Why our customers love Precoro

Full-fledged purchasing technology

Transform the way you manage procurement; harness customizable modules and features tailored to your specific process

Requests

Create PRs, POs, and other requests in a couple of clicks.

Invoices & Receipts

Reduce document processing costs by 50%. Keep your business transactions in order and monitor them in real-time.

Approval workflows

Route documents to the right approvers automatically.

Budget control

Regulate cash flow and prevent overspending.

Expenses

Monitor and compensate employees' expenses in one place. Get better control over corporate spending.

3-way matching

Compare POs, invoices, and receipts to ensure accuracy in payments.

Reporting

Track real-time data to get valuable insights.

Supplier management

Store supplier catalogs and compare quotes from them.

Inventory

Gain real-time visibility into inventory levels and track stock movement.

FAQ

All your questions answered

What is a procurement technology solution?

What are the benefits of implementing a procurement technology platform?

What features for procurement teams does Precoro offer?

Unlock the full potential of your procurement operations with Precoro

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  • 80%

    less data entry

  • 2.5x

    faster approval process

  • 90%

    fewer duplicated payments

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