Increase control over corporate expenses with our business spend management solution

Elevate your spending management to the next level. 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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Procurement photo

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.

  • 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 2.5x times faster 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 budget visibility to control all business spend

Consolidate all procurement-related information in one place to gain complete transparency over purchasing behavior. Make informed decisions based on this data, optimize budget planning, and save up to 4% 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 budget visibility to control all business spend

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
Designed to scale

Why Precoro?

  • Full spending visibility

    Eliminate rogue spending and reduce costs. Control budgets across projects and departments, and identify savings opportunities.

  • 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

Want to achieve the same results?

Transform your spending management with Precoro

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  • 98%

    spend under management

  • 2.5x

    faster approval process

  • 7%

    average budget savings per year

FAQ

All your questions answered

What is business spending management? See more Hide
  • Business spending management refers to the processes of monitoring, controlling, and optimizing corporate expenditures. This encompasses a range of activities, from tracking everyday expenses and employee reimbursements to managing larger budget allocations for projects, departments, or specific initiatives.
What are the benefits of implementing business spend management software? See more Hide
  • Implementing a business spend management solution offers numerous benefits that improve financial control and overall organization efficiency. Using specialized software, companies can increase visibility into spending, improve financial health, reduce wasteful expenditures, receive data-driven insights to make informed decisions, and more.
What features does Precoro offer for spending management? See more Hide
  • Precoro offers advanced features for effective spend management, such as customizable approval workflows, budget limits, 2- or 3-way matching, OCR, built-in and custom reports, integrations with ERP and accounting tools, and more. To see all of Precoro's capabilities, visit product page.
How does Precoro help in controlling spend? See more Hide
  • One of the primary ways Precoro helps control spending is through enhanced visibility into procurement activities. By consolidating all purchasing-related data in one place, Precoro makes it easy for companies to identify trends, spot anomalies, and make informed decisions about where to allocate resources. Furthermore, with automated approval workflows, businesses can enforce spend controls even further and ensure that every purchase is properly validated and falls within the budget. This not only helps in preventing unnecessary expenses but also in avoiding potential fraud or misuse of company funds.
What is Precoro's pricing? Are there hidden or extra fees? See more Hide
  • At Precoro, we believe in flexibility and transparency when it comes to pricing. That's why we offer a range of options to suit different budgets and business needs, all without any hidden fees. Our pricing plans provide full access to the platform, including all features and new updates as they're released. For small teams, the price is $39/month per user billed annually. If you have a team with more than 20 users, contact our consultants to discuss a tailored pricing plan that fits your unique requirements.

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