Employ business spend management software for full expense control

Experience spend management like never before with Precoro. Seamlessly navigate your purchased services and marketing campaign budgets, renew vital software subscriptions on time, monitor budget usage, and leverage data-driven insights to improve business profitability.

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The best system to manage expenses

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report they can analyze procurement spending and identify future trends with the system

Convenient subscription management

Maintain all subscriptions, services, and marketing campaign budgets in one place, and ensure your company has everything it needs for efficient operations. Mitigate unexpected invoices, unauthorized spending, and uncontrolled renewals in the spend management platform.

  • Tailor spend categories to align with the needs of your administrative, IT, marketing, and other departments

  • Monitor details of each subscription and renew them on time to keep your working process running smoothly

  • Keep all agreements with suppliers in one platform and receive instant notifications about contract renewals

Convenient subscription management

Customizable approval workflows of any complexity

Manage your business spending with ease by creating an approval policy to ensure all inquiries are automatically routed to the right stakeholders. Process approvals 2.5 times faster using spend control software and buy what you need while ensuring total compliance.

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

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

  • Customize approval policies and define criteria for your workflows — 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

Customizable approval workflows of any complexity

Real-time visibility into budgets

Consolidate all procurement-related information in the spend management solution to gain complete transparency over purchasing activities. Make informed decisions based on this data, optimize budget planning, and save up to 7% on annual business spending.

  • Set up budget limits for each project, department, and location, so all transactions are made in accordance with company policy

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

  • Control business spending thanks to immediate notifications in cases when purchases surpass the allocated budget

  • Analyze your spending to identify savings opportunities and accurately predict cash flow using Precoro’s visual dashboards

Real-time visibility into budgets

Advanced reporting capabilities for monitoring company health

Receive insightful business spending data at any given moment using Precoro's customizable report builder. Visualize crucial indicators at your convenience and analyze the state of your company with ease to make data-driven decisions.

  • Generate interactive reports using 20+ filters and 150+ data points

  • View detailed charts and standard XLSX reports to access a thorough and visually engaging interpretation of business spend

  • Separate reports for different modules in Precoro, from documents to budget usage

  • Schedule automatic report creation to send data directly to Google Sheets or Power BI at specified intervals

  • Compare documents using the changelog and document version comparison features for a transparent audit trail

Advanced reporting capabilities for monitoring company health

AP automation features to enhance your invoicing

Transform your invoice processing to eliminate duplicate payments, fraud, and discrepancies. Easily reconcile financial records without wasting time compiling invoices from different sources or procurement-related data from multiple spreadsheets.

  • Accelerate your invoice processing with OCR and receive automatically pre-filled invoices

  • Ensure there are no discrepancies between the ordered and received goods with the help of 2- and 3-way matching

  • Simplify invoice submission and streamline communication between suppliers and the finance team with our Supplier portal

  • Take advantage of accounting and procurement tool integrations to eliminate manual data transfers and avoid human-factor errors that can lead to payment inaccuracies

AP automation features to enhance your invoicing

Streamlined expense management

With Precoro’s expense module, you’ll be able to monitor corporate expenditures, speed up billing cycles, and reimburse employee expenses, all in a single system. It takes just a few clicks to request, review, and approve a reimbursement.

  • Eliminate bottlenecks in the reimbursement process

  • Pay for multiple expenses at the same time

  • Seamlessly link the procurement and finance teams with the help of automatic document forwarding between Precoro and the integrated accounting tools

  • Gain confidence in your end-of-month reports with a comprehensive system for organizing and managing employee expenses

Streamlined expense management
Designed to scale

Why companies choose Precoro as their spend management tool

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  • Full spending visibility

    Eliminate rogue spending and reduce costs. Control budgets across projects and departments, and ensure that each purchase goes through the approval threshold.

  • Cost and time efficiency

    Uncover hidden saving opportunities, negotiate better terms with suppliers, and manage corporate spending with unprecedented strategic insight and precision.

  • Flexibility and customization

    Set up and adjust workflows based on specific purchasing scenarios for granular control over spend. Adjust modules and fields for specific business needs anytime.

Why our customers love Precoro

Discover why companies consider Precoro the best spend management software to tackle their procurement challenges.

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    spend under management

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    faster approval process

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    average budget savings per year

Learn how to establish a spend management system

We’ve made a video to help finance teams create an efficient spend management system. Discover how in 9 simple steps, and explore the benefits and challenges that come with spend management.

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All your questions answered

What is spend management software?

What are the benefits of spend management software?

What is spend data management?

What is the difference between spend management and expense management?

What are the spend management activities?

What are the goals of spend management?

What is spend under management?

What is tail spend management?

What is spend lifecycle management?

Learn more about spend management

We’ve compiled a handful of resources to help you take your company spending under full control with the use of spend management tools. Check out our blog for more insights into optimizing business purchases and financial operations.

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