AI procurement software that focuses on what’s truly important
AI procurement solutions are the latest buzz, but most of them miss the mark. Precoro has teamed up with Google to bring you a real time-saver. Our AI procurement software can prefill and match invoices with spot-on accuracy — without wasting your team’s time.
Let our AI procurement platform do the heavy lifting
Save time on invoice processing and ensure accuracy in documents with our artificial intelligence procurement software with machine learning (ML) capabilities.
Speed up your procurement process
Upload a supplier invoice to Precoro and let AI procurement technology handle the rest, from accurate prefilling of the invoice to matching it with relevant documents. No more slowdowns — invoices move through the system fast and smoothly.
Stop wasting time on repetitive work
AI automatically fills in the fields based on the user’s previous choices of supplier, billing address, and tax settings, helping AP avoid repetitive tasks. On top of that, our AI procurement solution can pull custom item fields from item and supplier catalogs, so your team never has to re-enter the same info.
Rely on human review as a backup (if you want to!)
Worried that tiny mistakes might still slip through? Not on our watch! If you wish, Precoro’s product team can double-check prefilled invoices to catch even the smallest errors to ensure perfect results every time.
Get it right the first time
Unlike tools with basic OCR, our AI procurement software understands the business context of your documents and ensures that critical details — like invoice numbers, vendor names, and payment terms — are pulled with total precision.
Always stay in the loop
You will receive emails as soon as our AI-powered OCR processes invoices and drafts are ready for review.
Set up a seamless 3-way matching process
Forget about manual 3-way matching — AI automatically matches invoices to purchase orders and receipts. You choose the rules, from SKU to line rate, and let our procurement AI software do the work.
See how our AI procurement software can make your job easier
From uploading the supplier invoice to drafting the document in the system, our AI/ML procurement platform can help you with every step of the invoice processing.
Seamless invoice registration
When your supplier sends an invoice, all you need to do is upload it to our AI procurement software or enable redirection to the AP inbox and the invoice will automatically show up in Precoro. For accurate OCR, Precoro uses Google’s custom extractor with generative AI. It instantly pulls the details you need from the uploaded document and creates a ready-to-review, prefilled invoice in the system. We provide the precision you can count on!
Invoice verification process
Our AI/ML procurement software can solve the problem of paying fraudulent or duplicate invoices once and for all. If you create and manage purchase orders (POs) in Precoro, our procurement AI tool can then automatically match invoices to the corresponding POs in the 2-way matching process. Precoro uses the rules you set, like SKU, line description, prices, gross total, and more. On top of that, if you also record receipts, Precoro adds an extra layer of protection in a 3-way matching process to prevent costly mistakes.
The invoice approval process
Invoices get reviewed faster than ever with automated data entry and matching. Once the invoice is ready for review, your team will get instant email alerts — no delays, no hassle. In our AI procurement solution, you can set up custom approval processes that fit your needs. Your procurement and AP teams will have the flexibility to create different workflows based on approval thresholds, projects, locations, and more.
Payment execution and record keeping
Stay ahead of payment deadlines and maximize your savings with our AI/ML procurement technology. Monitor invoice statuses in real time and never miss an opportunity for early payment discounts. The AP team can easily track payment history, with all payments securely stored for quick access and future audits in our AI procurement software.
Reporting
Finally, financial teams will need accurate reports on paid invoices, outstanding balances, and other key metrics. And our AI/ML procurement software delivers just that. Create custom reports based on dates, locations, suppliers, items, budgets, custom fields, and more. On top of that, use our integration with Power BI to create interactive reports on your supplier invoice data.
Wanna know why our AI procurement technology is superior?
Precoro’s partnership with Google takes OCR to new heights. With Google’s custom extractor and generative AI, we don’t just scan documents — we extract data to streamline your invoice processing in the procurement software. Learn how our procurement AI tool outperforms standard OCR.
Unprecedented accuracy with contextual understanding
We train the AI model with your sample docs, ensuring it understands the preferred structures of your standard documents. Therefore, the AI processor never misses important data, including tax rates and amounts. Our AI procurement software pulls invoice details with absolute precision.
Continuous improvement
Our OCR gets smarter with each new document as it learns and adapts to your unique document formats, reaching 95%+ accuracy after just 50 invoices. This means fewer manual corrections and faster processing times for your procurement workflows — thanks to our artificial intelligence procurement software!
Default settings memory
Our AI procurement platform automatically fills in invoice details like supplier data, billing address, payment terms, and tax settings, based on what users chose earlier. The system also pulls item details from your Precoro catalogs, so your AP team doesn’t have to enter the same info repeatedly.
Multilingual recognizing capabilities for global teams
Our AI procurement software is ideal for businesses working with international suppliers and teams operating across multiple regions. The system supports English, German, Spanish, and French, and our OCR technology can process invoices in several other languages, such as Turkish, Norwegian, Dutch, Bulgarian, and Chinese. We can even train the system to handle invoices in additional languages.
Precoro is highly valued among AI procurement tools
Our AI procurement software takes care of all your purchasing needs
Precoro is the AI/ML procurement platform that can streamline every part of your procure-to-pay journey. See what we have to offer besides AI-powered invoice processing.
Requesting & ordering
Creating purchase requisitions and orders takes just a few minutes in our AI procurement software solution. Simply select options from drop-down menus and supplier or item catalogs, and you’re all set.
Explore requesting
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Create document templates to fit your company’s specific needs, using dynamic forms and unlimited custom fields in our procurement AI tool.
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Easily collaborate with colleagues and suppliers through our in-app chat, file attachments, and notes.
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Set up an approval workflow for purchase requisitions with as many steps as you need and based on various criteria.
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Quickly convert approved requisitions into POs with just a few clicks and send them for approval if necessary.
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Enable automatic two-way matching to cross-reference invoices with the related purchase orders in the AI/ML procurement platform.
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Track the status of each order in real time and see whether it’s pending, approved, sent to the supplier, received, or paid.
Spend control
With our AI procurement solution, your finance team can see exactly where every penny goes. Forget about scrambling to piece together last-minute reports or uncover hidden overspending. Instead, enjoy the full picture of budget spending.
Explore spend management
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Add unlimited custom fields to your budgets for enhanced reporting tailored to your company’s processes.
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Track budgets live with progress bars and pie charts, ensuring you always know where you stand.
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Budget holders get instant notifications when a purchasing request exceeds a set budget limit and can see available money when approving a purchase.
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Let employees request expense reimbursements and review and approve the requests in our machine learning procurement software.
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Use historical purchase data stored in our procurement AI software to identify spending patterns and optimize budget allocations.
Receipt and stock tracking
Easily stay on top of your inventory with our machine-learning procurement software. You can create a receipt in Precoro when goods arrive and set up an approval process if needed to close the order loop. Plus, you can monitor stock levels with our easy-to-use inventory module.
Explore the product
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Log received items in Precoro and set up approval workflows if required.
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Enable 3-way matching in our AI procurement tool to verify invoices by cross-checking them with the corresponding receipts and purchase orders.
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Receive notifications when supplies are running low so you can reorder in time.
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Let users submit warehouse requests to obtain available items from storage.
Multiple entity management
Our AI procurement platform is perfect for companies with several entities. Precoro provides you with a centralized view of all subsidiaries and branches while allowing each one to operate independently if needed. This way, you can ensure everything runs smoothly company-wide.
Explore the product
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Manage multiple entities from a single account in Precoro.
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Oversee budgets, purchases, expenses, and suppliers for all locations in our AI procurement software.
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Use multiple currencies for international operations.
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Generate reports by individual entity or across all entities to see company-wide spending insights at a glance.
Supplier management
Our procurement AI software provides a dedicated module for suppliers and even comes with an optional Supplier Portal. Use Precoro’s functionality to choose the best vendors, easily onboard them, store vendor information, and track supplier performance.
Explore supplier management
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Use Precoro’s RFP features to choose the most cost-efficient bids for your projects.
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Set up custom vendor onboarding forms for every type of supplier — direct, indirect, strategic, or occasional.
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With AI, contract management for procurement is smooth and easy. You can store supplier agreements and get handy email reminders when contracts are about to expire.
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Create catalogs of vetted suppliers for more straightforward purchasing.
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Let suppliers manage their item catalogs directly in Precoro to avoid discrepancies in POs and invoices.
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Track order volumes and spending per supplier to get negotiation leverage with our AI tool for procurement.
Learn what users love about our AI procurement software
Our goal is to provide you with complete control over your purchases, expenses, suppliers, and procurement documents — across all departments and locations. See how it benefits our users.
Our AI procurement software will seamlessly fit into your tech stack
Precoro integrates with top ERP and accounting systems, as well as punchout catalogs, to make your procurement faster and your financials spot-on. Got another system in mind? You can connect it to Precoro via an API.
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.
NetSuite
Sync subsidiaries, locations, POs, bills, vendor data, and more.
Besides superb functionality, our AI procurement software offers the following benefits
Frequent questions about AI/ML procurement technology
What is AI procurement software?
How is AI used in procurement?
What are the challenges of AI in procurement?
Will procurement AI software replace procurement managers?
How does the AI procurement software solution reduce errors in invoice processing?
Can it integrate with my existing procurement system?
Is the AI procurement software secure for handling sensitive data?
How long does it take to set up the AI procurement software?
Do I need technical expertise to use it?
Are training and onboarding services provided?
All you need to know about our procurement AI software
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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.