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.
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Easily submit any type of request and track the status of each document in real time
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Add notes, attachments, or comments to documents to give approvers all the context they need, and get notified of updates via email or Slack
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Customize approval policies by defining specific criteria that would drive a workflow — such as cost centers, locations, subsidiaries, and monetary thresholds
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Set up sequential or parallel approval workflows to streamline decision-making processes and expedite procurement 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.
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Save up to 4% on annual spending and reduce maverick expenditures thanks to complete visibility into purchasing behavior
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Monitor spending against budgets, view up-to-date inventory levels, and track document statuses and revision history
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Analyze your spending to identify savings opportunities and track essential KPIs using Precoro’s custom report builder and visual dashboards
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.
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Invite new suppliers using customizable registration forms and keep the vendor information in one place
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Create supplier catalogs with pre-approved products and services to save time and optimize the ordering process
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Never miss a contract renewal date thanks to a comprehensive contract repository that stores all relevant information in a convenient place
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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
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.
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Establish budget limits, approval policies, and delegations to prevent any uncontrolled spending
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Confidently match all purchase orders, invoices, and receipts using Precoro's 3-way matching feature
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Ensure a complete audit trail that captures every transaction change in detail
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Leverage dynamic workflows to engage relevant stakeholders, including IT and legal departments. Involve them in due diligence checks and give them control over spending
Why our customers love Precoro
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.
Don't take our word for it
Built to seamlessly enhance your workflow
Eliminate manual work and inefficient processes by connecting Precoro directly to your favourite accounting, ERP, and business tools.
All your questions answered
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A procurement technology solution is a set of specific tools that aims to enhance and automate different aspects of the procurement process, from sourcing and supplier management to purchase requisitions and approvals. Such platforms eliminate manual intervention and help companies manage their procurement activities more efficiently.
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Implementing a procurement technology platform brings numerous benefits to companies, thus transforming the way they manage their procurement processes. Some of the most significant benefits are streamlined purchasing, the ability to find cost-saving opportunities, better cooperation with suppliers, and reduced risks of duplicated payments and non-compliant orders.
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Precoro offers advanced procurement technology in place of basic purchasing operations by providing companies with different features and modules, giving them the ability to: submit POs, PRs, RFPs, etc.; build customizable approval workflows; set up budget limits and control purchases among all company; sync procurement and accounting operations with the help of integrations; and more. To see all of Precoro’s capabilities, visit this page.
Unlock the full potential of your procurement operations with Precoro
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80%
less data entry
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2.5x
faster approval process
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90%
fewer duplicated payments