Supplier management solution for smooth collaboration
Precoro is the best supplier management solution for a seamless procurement process. Learn how we help companies select top suppliers, establish clear communication, and avoid common supply chain risks.
Use supplier management software for effortless supplier search
Make the sourcing process 100% transparent and structured for all parties involved with the efficient supplier information management solution. When you start a new project and your current suppliers can’t provide the necessary items, use Precoro to find the best suppliers at the best prices.
Step 1
The procurement manager creates a request for proposal (RFP) using a user-friendly template or converts an existing purchase requisition into an RFP.
Step 2
The RFP is then sent to potential suppliers through the supplier management solution. Suppliers receive an invitation email with a link to submit their proposals.
Step 3
The RFP status is visible in our supplier information management software. The user can monitor whether suppliers have opened the email, submitted a response, or declined the RFP.
Step 4
The procurement manager can view all the submitted proposals in our supplier management software solution, compare the terms, and evaluate options.
Step 5
Using Precoro, the procurement manager can select the best bid or approve different suppliers for various items to secure the most cost-efficient purchases.
Step 6
After selecting the best deal, the procurement manager can generate a purchase order from the approved proposal and send it to the chosen supplier from the supplier management solution.
Automate supplier onboarding and approval with our supplier management solution
When partnering with a new supplier, use Precoro to ensure a fully compliant validation process. Adopting the best supplier management software paves the way for working with reliable partners who meet all your business requirements.
Create supplier registration forms for every type of supplier — direct, indirect, strategic, or occasional.
See data about newly onboarded suppliers instantly within your organization’s core systems.
Track supplier performance regularly and improve business relationships.
Set up an approval workflow for new suppliers based on supplier categories.
Ensure compliance with your supplier approval policy.
Win-win supplier management solution for all parties involved
Precoro is one of the best supplier management software solutions because it provides full visibility into all supplier-related operations. Establish direct and real-time communication with your suppliers and grant them access to our Supplier Portal, included with your plan. Here’s how different professionals can benefit from our supplier management solution.
Procurement managers
Procurement managers can use the supplier performance management software to process supplier catalogs, contracts, purchase orders, and reports more efficiently.
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Create and store supplier catalogs and add pre-approved products to make sure employees follow purchasing policies.
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Store agreements with suppliers and receive email notifications for expiring contracts in our supplier information management solution to get proactive about contract renewals.
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Control the status of each order to ensure on-time delivery so your business operations run smoothly.
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Speed up the ordering process with POs that are automatically sent to suppliers as soon as they are created in Precoro.
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Purchase in bulk and negotiate better terms with suppliers based on insights into supplier performance.
Requesters
Precoro’s supplier management solution simplifies the requesting and buying processes with easy document creation, complete visibility into order status, and supplier and item catalogs.
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Access a pre-vetted list of reliable suppliers to save time in supplier searching and follow the established purchasing policy.
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Order items directly from our supplier management software solution using intuitive templates for purchase requisitions and purchase orders.
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Track order status in real time without needing to chase up with approvers.
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Communicate with approvers or other relevant stakeholders in notes and comments.
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Auto-generate purchase orders from purchase requisitions or requests for proposals.
Financial officers
Financial managers can use the supplier performance management solution to track company expenses, prevent overspending, and identify opportunities for cost savings.
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Prevent budget overruns with the automatic rejections of purchase requisitions and purchase orders exceeding the budget.
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Use Precoro’s integrations with accounting systems to ensure accurate and up-to-date financial records.
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Enjoy an improved audit trail and full compliance with internal policies and regulations.
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Track spending by vendor to identify cost-saving opportunities.
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Monitor all historical spending and current expenditures in one place.
Suppliers
Suppliers and vendors can access Precoro’s Supplier Portal for easier communication. You’ll still get the full benefits of our supplier management solution even if your suppliers don’t use the portal. However, if suppliers do join, it will enable them to:
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Participate in the RFP processes.
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Create item catalogs and modify the details on their side.
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Receive purchase orders from customers using Precoro directly in the supplier performance management software.
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Send invoices and track payment status via the portal to receive and store all financial documents in one place.
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Suppliers who choose not to use the portal will still receive purchase orders and RFPs via email.
Download our free Supplier Management guide
Learn more about establishing long-term supplier partnerships.
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How to differentiate between vendors and suppliers
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Fundamentals of supplier management
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Tips for identifying the most suitable suppliers
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Effective methods for gathering and verifying supplier data
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Comprehensive plan for supplier onboarding
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Proposed strategy for analyzing and evaluating supplier performance
Supplier relationship management software with superior integration capabilities
Precoro seamlessly integrates with business tools, your favorite accounting systems, ERP software, and punchout catalogs.
Fisher Scientific PunchOut
Automate procurement of laboratory equipment, chemicals, and supplies by accessing Fisher Scientific’s full catalog directly from Precoro.
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.
Top-rated supplier management software
Precoro empowers over 1,000 companies to effectively manage suppliers, contacts, and the entire procurement process. Learn why clients consider our system one of the best supplier management solutions.
Supplier performance management solution that really makes the difference
Award-winning supplier performance management software
When we say Precoro is one of the best supplier management solutions, it’s more than just words.
Still unsure if Precoro is the best supplier management software for your company?
What is supplier management?
What are the four key elements of supplier management?
What are the benefits of supplier management?
What is a supplier management solution?
What supplier management features does Precoro have?
How do companies onboard new suppliers with the supplier management software solution?
How does the supplier management software solution help with risk management?
Is the supplier relationship management software customizable to fit business needs?
Does the supplier information management software integrate with other business tools?
How secure is the supplier management solution?
What kind of support and training is provided with the supplier information management software?
Can companies manage multiple entities and locations with Precoro?
How does the supplier information management solution handle multi-currency transactions?
We aim to provide not just a supplier management solution but also valuable information
Visit our blog for insights into supplier and contract management with best practices and strategies. Discover how implementing a supplier performance management solution can help your company save money, ensure compliance, and elevate your overall supplier management approach.
Precoro isn’t just a supplier management solution
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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.