Vendor management system for seamless partnerships in procurement

Top-notch vendor management software for managing relationships with your procurement partners. Onboarding, evaluating, tracking, and collaborating with vendors or suppliers — all in one place.

Managing like a pro

Get more done with a robust vendor management system

Whether you’re a large enterprise or seeking vendor management software for small businesses, Precoro minimizes manual procedures and facilitates a smarter approach to nurturing vendor relationships. By using our vendor management solution, companies can mitigate potential supply-chain risks and maximize operational efficiency.

Onboard easily

Configure customized onboarding forms and approval workflows for new vendors to ensure transparency and well-organized processes for vendor validation and onboarding.

Control the process

Store vendor information, agreements, and catalogs in the vendor information management software for easy access and control over procurement operations. Build a clear contract management flow and optimize the procure-to-pay cycle — witness productivity soar!

Track for efficiency

Generate real-time reports in the online vendor management system. With Precoro reporting, it’s easy to monitor spending per vendor and contract compliance rates in order to identify potential cost-saving opportunities and prepare a vendor risk management strategy.

Provide visibility

Ensure full transparency for your teams and vendors with Precoro’s user-friendly Supplier Portal. Vendors can create and update item catalogs directly in our vendor management solution and easily track invoice statuses, reducing the need for inefficient back-and-forth communication.

Cooperate to excel

Work together with your vendors on requests for proposals, purchase orders, and invoices in real time using the vendor management solution. Add notes and comments to procurement documents for smooth communication. Our vendor management software enhances collaboration, minimizes order discrepancies, and maximizes on-time deliveries.

Why Precoro is a game changer

Modern vendor management software that does it all

Precoro streamlines vendor selection, onboarding, overseeing, and communication. See how our vendor management system simplifies each step for your team, all within a user-friendly interface.

Select
Onboard
Oversee
Communicate
Analyze

Select the best bids

Select the most profitable bids for new projects with our vendor management software solution.

  • Create requests for proposals (RFPs) with user-friendly templates or by converting purchase requisitions.
  • Track if vendors have opened, responded, or declined the RFP.
  • Compare all submitted proposals in our vendor management system.
  • Choose the best bid or approve multiple suppliers for different items.
  • Generate a purchase order from the approved proposal.

Onboard new vendors

Automate the vendor onboarding process and minimize back-and-forth exchanges via emails or phone calls. Make sure onboarding is fast and error-proof with our vendor information management software.

  • Create custom vendor onboarding forms.
  • Automatically capture information from vendor documents with OCR technology.
  • Use our integrations to sync vendor data in Precoro with QuickBooks, Xero, or NetSuite.
  • Set up approval workflows for new vendors based on vendor categories.

Oversee vendor management

Store all vendor and supplier details in the reliable vendor management system. This way, you can easily oversee all vendor-related operations and minimize supply chain disruptions.

  • Arrange vendor catalogs with detailed company information.
  • Create item catalogs with pre-approved products according to the purchasing policies.
  • Store vendor agreements and ensure their timely renewals with email notifications for expiring contracts.
  • Automate the P2P cycle with real-time tracking of POs and invoice statuses.
  • Establish a reliable audit trail and ensure full compliance with internal policies and regulations.

Communicate with procurement partners

Establish a trustworthy communication channel via the Supplier Portal to ensure direct and instant information exchange. Precoro’s Supplier Portal lets you:

  • Prevent PO discrepancies by letting vendors create and modify item catalogs.
  • Manage and update RFPs in a single platform to speed up the process.
  • Grant vendors direct access to the Supplier Portal, so they can send invoices and track payment status.
  • Automatically send POs to vendors for quicker order fulfillment.

Analyze vendor performance and spending

Monitor vendor performance via our vendor management solution and find cost-saving opportunities.

  • Track spending by vendor and use the findings to negotiate discounts with preferred vendors.
  • Monitor all orders across the company and purchase in bulk to save money.
  • Track historical spending and current expenditures in one place.
  • Create reports on vendor details, contracts, and items.
  • Ensure accurate and up-to-date financial records through Precoro’s integrations with accounting systems.
Vendor management and beyond
Precoro vs. a typical vendor management software
Supplier and vendor management is a key component of an efficient procurement process. To achieve the best business results, find a vendor management solution that streamlines procurement as a whole. See which features make Precoro a market leader in this area.

Features

Vendor management

Contract management

Item catalogs

Purchase order management

Requests for proposals

Purchase requisition module

Custom vendor approval workflows

Document approval workflows

Reporting

Inventory tracking

Accounting integrations

Invoice automation

Budget control

Expense management

3-way matching

Typical VMS

Yes
Yes
Yes
Yes
In specific packages
In specific packages
In specific packages
In specific packages
In specific packages
In specific packages
In specific packages
No
No
No
No

Precoro

Yes
Yes
Yes
Yes
Yes
Yes
Yes
Yes
Yes
Yes
Yes
Yes
Yes
Yes
Yes
Integrations made simple

Share vendor information across core company tools

Build the ideal tech stack for your company with the help of integrations offered by Precoro. Our vendor management system will fit right in with your accounting tools, ERPs, or any other solutions you’d like to connect.

All
Purchasing
Collaboration
Security
Analytics
Accounting
ERP
Company logo

Fisher Scientific PunchOut

Automate procurement of laboratory equipment, chemicals, and supplies by accessing Fisher Scientific’s full catalog directly from Precoro.

Purchasing
Company logo

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.

Purchasing
Company logo

Sage Intacct

Simplify accounting with automated sync of invoices, suppliers, payments, and more between Precoro and Sage Intacct.

Accounting
Company logo

QuickBooks Desktop

Integrate Precoro with QuickBooks Desktop to sync invoices, payments, GL accounts, and tax codes seamlessly.

Accounting
Company logo

QuickBooks Online

Send orders, bills, and vendors from Precoro to QuickBooks Online automatically.

Accounting
Company logo

Xero

Sync POs, invoices, and supplier info from Precoro to Xero accounting software.

Accounting
98% customer satisfaction
Here’s what our customers have to say
Precoro is the vendor performance management software loved by teams at over 1,000 companies worldwide, each with its own unique needs and workflows.
Robin D.
Purchasing Agent
Hospital & Health Care
501-1,000 employees
Going from a manual process to an online, streamlined process with Precoro has been quick and smooth. The [procurement] software is very user friendly by providing at-a-glance statistics, a dashboard to reach the different modules without hassle, and makes it easy for even the most non tech savvy person to understand.
Lisa M.
Senior Buyer - Commodity Specialist/Manager
1-50 employees
Precoro has been instrumental in solving several key challenges for us. It provides a robust audit trail, allowing us to track every step of the procurement process and see exactly whose approval is still needed at any given time. Additionally, it offers a seamless solution for managing purchase orders (POs) by automatically drawing down on the total as invoices are received, ensuring accurate tracking and streamlined financial management.
Daniel C.
501-1,000 employees
As our company grows, the PO system allows us to better control expenditure and for everyone involved to see how much is beeing sent. It"s much more intereactive than simply having budget meetings every month!
Daphna Shafran photo
Daphna Shafran
Head of FP&A
Biotechnology
51-200 employees
I worked with many systems, and with Precoro, if you raise something that you would like to change, or you raise an idea, there’s always somebody that listens. Then, suddenly you see in the Precoro newsletter that it was implemented. So you can really feel that there is somebody that really listens to the user and really takes it into the roadmap.
Read full case study
Amanda L.
Accountant
Construction
51-200 employees
We are glad that it [the purchasing software] helps improve our work efficiency. Precoro is easy to start with a good level of control program to use. It eases the process and reduces the time of communication between team members, as everyone can log in to see the current status of our order.
Yoni M.
VP, Cyber Security
IT Infrastructures
501-1,000 employees
We manage several budgets of several business units. The system supports multi regions and multi currency for that context.
Flexible and agile

Manage your supplier relationships in the smartest way

With a dedicated vendor management software solution, you can easily handle supplier and vendor relationships. Align vendor management and procurement strategies to establish a truly cost-efficient purchasing process. Watch this short video to learn how an online vendor management system like Precoro can help.

Watch the video
Outstanding perks

Curious why companies choose Precoro as their vendor management system?

Easy start

User-friendliness

Full visibility

High level of customization

Great value for money

Scalability with business growth

Reduced risks

Top-notch security

FAQ
Frequent questions about choosing the right online vendor management system

What does vendor management entail?

Does vendor management mean the same as supplier management?

What is the vendor management system?

What are the benefits of an online vendor management system?

What makes a good vendor management software?

Is SAP a vendor management system?

Is QuickBooks a vendor management system?

How can Precoro help with vendor management?

Is vendor management software for small businesses a must-have?

Why is vendor performance management software important for midsize companies and enterprises?

Discover more about the best vendor management practices
Check out our blog to find useful tips and strategies. We discuss supplier and vendor onboarding and management, ways to ensure supply chain efficiency, and various other aspects of a successful procurement process.
Precoro is more than just a vendor management solution
Explore the full range of our features, compare Precoro to other platforms, and discover how it drives value for businesses across various industries.

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