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Procurement Software

Procurement software is used by organizations to manage all activities related to expenditure. Procurement management software centralizes the purchasing process within an organization, automating the process of resource acquisition and supplier relationship management. All-in-one procurement software can be used easily by employees to create purchase orders subject to review and approval by managers. With automated procurement systems, managers have a broad range of tools at their disposal for tracking, analysis, and reporting on business process efficiency. Procurement software is related to Billing and Invoicing software, Purchasing software and Vendor Management software. Browse our catalogue to find the best procurement software for your small business in Canada.

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Optimize procurement while gaining greater spend control and visibility, accelerating approvals, and reducing financial risk. Learn more about Tipalti
Streamline your procurement process while gaining greater spend control and visibility, accelerating approvals, and reducing financial and compliance risk. Tipalti enables your team to move away from ad-hoc emails, spreadsheets, and tickets, offering simple electronic processes and powerful automation. Our unique suite of procurement, combined with AP automation, mass payments and expenses, ensures a closed-loop of procure to pay. Real-time ERP integrations with NetSuite, Sage, Xero, and more. Learn more about Tipalti

Features

  • Inventory Management Software
  • Invoice Processing
  • Cataloging/Categorization
  • Sourcing Management
  • Contract/License Management
  • Purchase Order Management
  • Spend Management Software
  • Vendor Management Software
  • Budgeting/Forecasting
Graphite Connect is an enterprise-grade solution for serious procurement organizations that decreases supplier onboarding times by 70%. Learn more about Graphite Connect
Graphite Connect is a supplier management platform that simplifies, automates, and accelerates supplier onboarding. Within the Graphite network, suppliers maintain one shareable profile containing commercial data, documents, and due diligence information. Graphite validates these profiles, automatically scores the risk of each supplier, and integrates with third-party data sources for a holistic risk review. Additionally, custom automated workflows, contract and document management, translation, and in-app communication create a centralized location for procurement to collaborate with suppliers and cross-department stakeholders. This single source of clean, accurate data integrates seamlessly with ERPs and other systems. Learn more about Graphite Connect

Features

  • Inventory Management Software
  • Invoice Processing
  • Cataloging/Categorization
  • Sourcing Management
  • Contract/License Management
  • Purchase Order Management
  • Spend Management Software
  • Vendor Management Software
  • Budgeting/Forecasting
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Procurify helps you gain unparalleled control and visibility with streamlined workflows, real-time data, and innovative features. Learn more about Procurify
Procurify is the go to end-to-end procurement software that lets businesses track, control, and analyze all spending to simplify and scale their spend management process. Simple and easy to use, Procurify's intuitive interface empowers users to proactively track, control, and analyze spending. Keep all of your records centralized and reduce rogue spending with Amazon Business and Staples PunchOut integration. Procurify integrates seamlessly with Netsuite, Quickbooks and other ERP systems. Learn more about Procurify

Features

  • Inventory Management Software
  • Invoice Processing
  • Cataloging/Categorization
  • Sourcing Management
  • Contract/License Management
  • Purchase Order Management
  • Spend Management Software
  • Vendor Management Software
  • Budgeting/Forecasting
Make purchasing simple for your company. Streamlined approvals, OCR, real-time budgeting, PRs, POs, and invoices — all in one solution. Learn more about Precoro
Gain full visibility of your procurement workflow using a holistic cloud-based solution. With Precoro, you can create documents in just a few clicks, approve 2.5x faster, and engage in 80% less manual data entry. Transform your time-consuming operations into convenient and automated procedures for all employees. Integrate Precoro with Xero, Quickbooks, NetSuite, Amazon Business Punch-in, Slack, and other accounting and business tools for more automated processes. Learn more about Precoro

Features

  • Inventory Management Software
  • Invoice Processing
  • Cataloging/Categorization
  • Sourcing Management
  • Contract/License Management
  • Purchase Order Management
  • Spend Management Software
  • Vendor Management Software
  • Budgeting/Forecasting
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Manage your direct & indirect purchasing on your own private procurement platform. Free version available. Learn more about Tradogram
Simple Procurement Software to manage all your company's spending. Tradogram provides configurable tools to streamline your Requisitions, Purchase Orders, RFQs/RFPs, Contracts, Receiving and Invoice Matching. Also, manage the process with User Permissions, Approvals, Budgets, Items Catalog, Supplier Management, Projects & much more. The latest cloud technology with top security & performance criteria. Get your FREE account today & see how easy it is to use! Learn more about Tradogram

Features

  • Inventory Management Software
  • Invoice Processing
  • Cataloging/Categorization
  • Sourcing Management
  • Contract/License Management
  • Purchase Order Management
  • Spend Management Software
  • Vendor Management Software
  • Budgeting/Forecasting
Spendwise is affordable easy-to-use procurement software that streamlines your procure-to-pay processes, saving you time and money. Learn more about Spendwise
Spendwise is affordable easy-to-use procurement software that helps you save time and money. Spendwise is trusted by top organizations around the world to manage billions in spending. Customers include Miracle-Ear, Embassy Suites, Worley, the YMCA, Gildan and more. Users can create purchase requests and submit them for approval. Purchase requests are automatically routed to approvers for approval. Approved purchase requests convert into purchase orders that can be placed with vendors. Users can keep track of what goods or services get received on purchase orders and match vendor invoices to receiving transactions and purchase orders. Budgets and reports can be used to ensure spending is authorized and on track. Spendwise is web-based so you don't have to install software and you can access it from anywhere. Visit our website for more information and sign up for a Free Trial and/or Demo! Learn more about Spendwise

Features

  • Inventory Management Software
  • Invoice Processing
  • Cataloging/Categorization
  • Sourcing Management
  • Contract/License Management
  • Purchase Order Management
  • Spend Management Software
  • Vendor Management Software
  • Budgeting/Forecasting
Easy-to-use procurement software that drives informed spending decisions, efficiencies, and cost savings. Learn more about Fraxion
Fraxion is the trusted procurement software for mid-size companies worldwide. Automate purchasing, expense, and AP processes with complete visibility, analytics, and proactive control. Gain audit transparency with digital records and empower accountable, policy compliant spending company-wide. Start saving time and reducing your operational costs with Fraxion’s easy, mobile and integration-friendly solution. Learn more about Fraxion

Features

  • Inventory Management Software
  • Invoice Processing
  • Cataloging/Categorization
  • Sourcing Management
  • Contract/License Management
  • Purchase Order Management
  • Spend Management Software
  • Vendor Management Software
  • Budgeting/Forecasting
Effortlessly Manage Purchase Order Approvals with eRequisition. Say goodbye to the hassle of Purchase Order Approvals with eRequisition Learn more about eRequisition
Enhance Your Business Requisition Management with our Comprehensive Solutions Our procurement solution is designed to meet the unique needs of businesses across industries, from small startups to large enterprises. Whether you want to automate manual processes, optimize workflows, or gain better visibility into your procurement performance, our solution can be tailored to your business requirements. Learn more about eRequisition

Features

  • Inventory Management Software
  • Invoice Processing
  • Cataloging/Categorization
  • Sourcing Management
  • Contract/License Management
  • Purchase Order Management
  • Spend Management Software
  • Vendor Management Software
  • Budgeting/Forecasting
Transcepta is the top AP automation solution to reduce AP costs, provide supply chain visibility, and control cash. Learn more about Transcepta
Transcepta automates the AP process, end to end. For nearly 20 years, enterprise and mid-market organizations have partnered with Transcepta to connect quickly with suppliers, reduce costs, control cash flow, and make better data-driven decisions. With Transcepta, organizations can move beyond slow, error-prone, and unscalable processes and transition to a fast and accurate online system that is easy for everyone to use. Learn more about Transcepta

Features

  • Inventory Management Software
  • Invoice Processing
  • Cataloging/Categorization
  • Sourcing Management
  • Contract/License Management
  • Purchase Order Management
  • Spend Management Software
  • Vendor Management Software
  • Budgeting/Forecasting
Allows distributors to easily track all their supplier deliveries from start to finish and get them there on schedule. Learn more about Tecsys Elite
Elite™ Distribution ERP reduces price discrepancies by supporting GS1 standards, provides procurement staff with great upload tools to import and validate price increases received from suppliers, and automates workflows. Distributors can easily track all supplier deliveries from start to finish and get them there on schedule. Learn more about Tecsys Elite

Features

  • Inventory Management Software
  • Invoice Processing
  • Cataloging/Categorization
  • Sourcing Management
  • Contract/License Management
  • Purchase Order Management
  • Spend Management Software
  • Vendor Management Software
  • Budgeting/Forecasting
Procurement tools manage suppliers by automating numerous processes. Avoid stock-outs & overspending on excessive materials with Odoo. Learn more about Odoo
Manage suppliers and purchase orders easily with Odoo. Odoo¿s procurement tools are tailor-made to help users efficiently run their business with less stock, and ensures they avoid frustrating stock-outs. Easily configure ¿Min-Max¿ stock quantities with Odoo¿s user-friendly reordering rules, stock levels, sales forecasts, and automatic routes (Replenish on Order). Users can quickly import vendor price lists and lead times, in order to stay updated on products¿ pricing and shipping details. Learn more about Odoo

Features

  • Inventory Management Software
  • Invoice Processing
  • Cataloging/Categorization
  • Sourcing Management
  • Contract/License Management
  • Purchase Order Management
  • Spend Management Software
  • Vendor Management Software
  • Budgeting/Forecasting
Transform your procurement department from a purchase management center to a strategic business partner with Pipefy’s AI-enhanced BPA Learn more about Pipefy
Transform your procurement department from a purchase management center to a strategic business partner. Build a structured, standardized, automated, and error-proof procurement operation to fast-track PO cycle time and improve end-to-end stakeholder coordination. Integrate your procurement software or other legacy tools to scale your operation, and ensure transparency and accountability at each step. With Pipefy’s AI-enhanced business process automation and management platform, access process insights quickly to make agile decisions reliably, and create workflows rooted in best practices and tailored to your team’s unique needs. Learn more about Pipefy

Features

  • Inventory Management Software
  • Invoice Processing
  • Cataloging/Categorization
  • Sourcing Management
  • Contract/License Management
  • Purchase Order Management
  • Spend Management Software
  • Vendor Management Software
  • Budgeting/Forecasting
360+ 4.7/5 reviews. Simple yet, fully featured. The highest rated procurement software. Learn more about ProcurementExpress.com
Simple Procurement software that allows team members to create purchase requests on the go that can get approved by pre-defined approvers - from any device. All relevant comments & docs can get attached to the PO & managed for reporting & auditing. Eliminate spending mistakes & keep team members accountable for company card purchasing. View and manage budgets in real-time for insightful decision-making for each purchase. Draw accurate reports with a click of a button for the accountant. Learn more about ProcurementExpress.com

Features

  • Inventory Management Software
  • Invoice Processing
  • Cataloging/Categorization
  • Sourcing Management
  • Contract/License Management
  • Purchase Order Management
  • Spend Management Software
  • Vendor Management Software
  • Budgeting/Forecasting
"Streamline spending with Rubberstamp.io – the cost-effective, user-friendly PO software tailored for small teams. Try risk-free today! Learn more about Rubberstamp.io
The cost-effective solution to managing your company's spend without breaking the bank! Designed by purchasing expert with over 30 combined years of experience, Rubberstamp.io is the ideal purchase order software tailored to the unique needs of small teams. Say goodbye to clunky systems and hello to a straightforward, user-friendly platform. Many people don't need their advanced PO management system. They created Rubberstamp.io for small teams who are on a budget. Learn more about Rubberstamp.io

Features

  • Inventory Management Software
  • Invoice Processing
  • Cataloging/Categorization
  • Sourcing Management
  • Contract/License Management
  • Purchase Order Management
  • Spend Management Software
  • Vendor Management Software
  • Budgeting/Forecasting
Canada Local product
SpendMap is software that helps you simplify your company’s Purchasing process and and better control your spending. Learn more about SpendMap
At SpendMap, we develop software solutions to help companies simplify their purchasing processes and better control their spending. While each module is optional, SpendMap automates things like Purchase Orders, requisitions and approvals, supplier invoice approval and inventory control. We help you automate and simplify your purchasing, payables and materials management processes to slash paperwork, control spending and cut costs. Learn more about SpendMap

Features

  • Inventory Management Software
  • Invoice Processing
  • Cataloging/Categorization
  • Sourcing Management
  • Contract/License Management
  • Purchase Order Management
  • Spend Management Software
  • Vendor Management Software
  • Budgeting/Forecasting
Canada Local product
Totally free software that automates Purchase Orders and a whole lot more. Learn more about Free-Procurement Project
Many Purchase Order software systems cost thousands of dollars and can take weeks to get up and running. With the Free Version of SpendMap, you can start creating and managing Purchase Orders for your business in minutes, for free. Join 100,000+ businesses in over 100 countries! Manage your spending with professional-looking Purchase Orders that you can print or email to your suppliers. Keep track of receipts and stay on top of late orders. You can even track your budgets and report on your spending to see where the money is going. All for free. Like actually free. Like Google, Facebook and Wikipedia free. Learn more about Free-Procurement Project

Features

  • Inventory Management Software
  • Invoice Processing
  • Cataloging/Categorization
  • Sourcing Management
  • Contract/License Management
  • Purchase Order Management
  • Spend Management Software
  • Vendor Management Software
  • Budgeting/Forecasting
Catapult is an industry-agnostic RFP as a service solution that provides businesses with tools to manage all of their RFP opportunities Learn more about Catapult
Catapult is an industry-agnostic Request for Anything (RFx) and Proposal Management solution that streamlines procurement departments' & proposal teams' process through repeatable workflows and automation. With Catapult, you can create and respond to new opportunities, evaluate and score responses, and, deliberate over contract terms. You can also collaborate with team members over question structure or responses as you build and manage your content library to expedite RFP responses. Learn more about Catapult

Features

  • Inventory Management Software
  • Invoice Processing
  • Cataloging/Categorization
  • Sourcing Management
  • Contract/License Management
  • Purchase Order Management
  • Spend Management Software
  • Vendor Management Software
  • Budgeting/Forecasting
Integrated business management solution that automates financial, customer relationship and supply chain processes.
Microsoft Dynamics is a line of integrated, adaptable business management solutions that enable your people to make important business decisions with greater confidence. Microsoft Dynamics works like and with familiar Microsoft software-easing adoption and reducing the risks inherent with implementing a new solution. These solutions automate and streamline financial, customer relationship, and supply chain processes in a way that can help you drive business success. Learn more about Dynamics 365

Features

  • Inventory Management Software
  • Invoice Processing
  • Cataloging/Categorization
  • Sourcing Management
  • Contract/License Management
  • Purchase Order Management
  • Spend Management Software
  • Vendor Management Software
  • Budgeting/Forecasting
NetSuite Procurement: complete visibility of the procurement process to buy goods and services at the best price, when you need them.
NetSuite Procurement centralizes vendor management and procurement. Channeling purchase orders to approved suppliers and pre-negotiated contracts ensures purchase at the best price in a timely manner. The real-time view into spending and vendor performance improves visibility and enables clear communication throughout the procure-to-pay process. All procurement-related information including records, spending, and performance reports are all easily managed from the procurement dashboard. Learn more about NetSuite

Features

  • Inventory Management Software
  • Invoice Processing
  • Cataloging/Categorization
  • Sourcing Management
  • Contract/License Management
  • Purchase Order Management
  • Spend Management Software
  • Vendor Management Software
  • Budgeting/Forecasting
Cloud-based human resources solution that helps businesses streamline workforce planning, talent management, and payroll processes.
Workday HCM is a single, cloud-based solution for workforce planning, talent management, and payroll processes helping customers adapt and thrive in a changing world. Workday applications are built with artificial intelligence and machine learning at the core to help organizations around the world embrace the future of work. Workday is used by more than 10,000 organizations around the world and across industries—from medium-sized businesses to more than 50% of the Fortune 500. Learn more about Workday HCM

Features

  • Inventory Management Software
  • Invoice Processing
  • Cataloging/Categorization
  • Sourcing Management
  • Contract/License Management
  • Purchase Order Management
  • Spend Management Software
  • Vendor Management Software
  • Budgeting/Forecasting
ShippingEasy is the easiest online shipping platform for growing businesses, featuring discounted shipping rates and easy automation.
ShippingEasy is the easiest online shipping platform for growing businesses. With ShippingEasy, merchants can access discounted USPS and UPS shipping rates, automate shipping, and get time back to focus on building their business. Robust integrations with all leading online channels allow merchants to manage orders, shipments, and customers from everywhere they sell, all in one easy-to-use platform. Learn more about ShippingEasy

Features

  • Inventory Management Software
  • Invoice Processing
  • Cataloging/Categorization
  • Sourcing Management
  • Contract/License Management
  • Purchase Order Management
  • Spend Management Software
  • Vendor Management Software
  • Budgeting/Forecasting
QuickBooks Commerce enables you to manage inventory and orders for your multichannel business and keep track of products.
QuickBooks Commerce enables you to manage inventory and orders for your multichannel business and keep track of your products as you sell and restock across multiple warehouse locations and channels. QuickBooks Commerce allows brands to automate and integrate their commerce platforms and get powerful insights into all their sales data on-demand. Learn more about QuickBooks eCommerce

Features

  • Inventory Management Software
  • Invoice Processing
  • Cataloging/Categorization
  • Sourcing Management
  • Contract/License Management
  • Purchase Order Management
  • Spend Management Software
  • Vendor Management Software
  • Budgeting/Forecasting
SolarWinds Service Desk provides businesses of all sizes an easy to use and affordable ITSM solution that can easily scale with you.
SolarWinds Service Desk is a cloud-based, IT help desk solution that has helped organizations reduce cost per ticket by up to 15% and issue resolution time by up to 48% with smart ticket routing, automated workflows, and integrated asset management. This, plus an AI-powered knowledge base, can equip your employees with the resources needed to solve problems quickly. Set up can be done in days instead of months & can fit seamlessly into your business by integrating with 200+ cloud applications. Learn more about SolarWinds Service Desk

Features

  • Inventory Management Software
  • Invoice Processing
  • Cataloging/Categorization
  • Sourcing Management
  • Contract/License Management
  • Purchase Order Management
  • Spend Management Software
  • Vendor Management Software
  • Budgeting/Forecasting
Canada Local product
The secret powering small businesses in 90+ countries worldwide. Track stock, manage sales, pick and ship orders, and more,
inFlow Inventory is the easiest way to run your wholesale, distribution, manufacturing, or ecommerce business. Track stock across any location and manage purchases and sales—all from one app. inFlow helps you manage any order or process from start to finish, with full pick/pack/ship support, BOM and assemblies, and connections to over 35 different ecommerce platforms. We offer in-house support via live chat, email, and callback. Click Visit Website to start your free 14-day trial now. Learn more about inFlow Inventory

Features

  • Inventory Management Software
  • Invoice Processing
  • Cataloging/Categorization
  • Sourcing Management
  • Contract/License Management
  • Purchase Order Management
  • Spend Management Software
  • Vendor Management Software
  • Budgeting/Forecasting
Discover SAP S/4HANA Cloud, a complete ERP system with embedded AI and machine learning.
SAP S/4HANA Cloud is a complete enterprise resource planning (ERP) system with built-in intelligent technologies, including AI, machine learning, and advanced analytics. It helps companies adopt new business models, manage business change at speed, orchestrate internal and external resources, and use the predictive power of AI. Benefit from tight, native integration between processes, industry depth, and a consistent in-memory data model. Learn more about SAP S/4HANA Cloud

Features

  • Inventory Management Software
  • Invoice Processing
  • Cataloging/Categorization
  • Sourcing Management
  • Contract/License Management
  • Purchase Order Management
  • Spend Management Software
  • Vendor Management Software
  • Budgeting/Forecasting

Procurement Software Buyers Guide

What is procurement software?

Procurement software allows businesses to manage their purchasing cycle and maintain optimum inventory levels at all times. The software helps to generate purchase orders (POs), execute those orders, match invoices to materials received, and make payments to suppliers. It helps to connect and manage interactions between all stakeholders involved in the purchasing process including buyers, vendors, approvers, and receivers.

The software is often related to billing and invoicing software , purchasing software , and vendor management software .

The benefits of procurement software

Businesses are increasingly using digital tools such as e-procurement software to improve their supply chain operations and increase productivity. It offers substantial benefits such as:

  • Reduced cost: Procurement software transforms paper-based workflows into electronic transactions, thus reducing the cost associated with paper processes, printing, and physical storage. Digital copies of POs are more secure than physical papers which can be easily forged, stolen, or lost, leading to a dispute between supply chain partners.
  • Shortened business cycle: Sending digital purchase orders to suppliers and vendors is far more convenient and quicker than sending physical POs through offline modes such as couriers. This reduces the overall procurement time and speeds up the supply chain process.
  • Inventory control: Using pen and paper or Microsoft Excel spreadsheets to manually track and monitor hundreds of items and materials in stock can be a daunting task. With procurement software, businesses can easily monitor the in-house stock level of all items and can even set threshold limits to automate the reordering of items. This ensures sufficient stock quantity at all times leading to an uninterrupted supply chain process.
  • Transparent spending: Procurement software keeps detailed records of every spend made by the company for purchasing materials. This brings transparency for accounting and support businesses while writing budgets for the next procurement cycle. Having detailed records of purchases made in the previous cycle enables businesses to analyze and identify their critical needs and the quantity of those items that have been consumed, which is a vital indicator in setting procurement targets for the next cycle.

Typical features of procurement software

  • Supplier management: Manage interactions with suppliers including their contact information, supply and payment history, and communications. 
  • Requisition management: Review, approve, and cancel requests made for procuring goods and services. 
  • Catalog management: Create and manage digital catalogs of products and services with details such as product description, specification, and pricing.
  • Invoice processing: Manage supplier invoices, match invoices with the goods received, and make payments accordingly.
  • Purchase order management: Manage the entire PO lifecycle, from creating and issuing the POs to procuring goods and making payments.
  • Spend management: Track the amount of money spent on procurement activities for various items.

Considerations when purchasing procurement software

  • Integration with existing systems: Before you buy any procurement solutions, first check the system viability and application requirements. See whether the application is compatible with your existing IT infrastructure and if it requires any additional installations or upgrades for operating. Secondly, check ease of integration with any of your existing applications, such as enterprise resource planning (ERP) or supply chain management (SCM) software. Smooth integration with these existing systems will allow the incorporation of business structures and data already in place, such as workflows, supplier and vendor details, and catalog information. This will save you and your team from repetitive data entry.
  • Mobile capabilities: Organizations are increasingly pushing their employees to perform more activities via mobile applications, as it increases operational speed, reduces reporting time, and improves stakeholder communication, both internally and externally. Therefore, it is recommended to choose solutions that offer mobile accessibility, either via native mobile apps or through a mobile web browser.
  • Support: Support is one of the key factors that should be considered while evaluating a new procurement solution. There can be glitches with software at any time, which can disrupt your procurement cycle and halt the supply chain. It is recommended to have complete clarity on the level of support offered within your software, as well as costs for any additional ad hoc support. Also, check whether the vendor provides any training manuals or instruction videos to train your employees on how to use the software. 
  • Cloud-based procurement software solutions are gaining traction: Businesses are shifting their procurement solutions from in-house to cloud-based models. This switch is driven by the number of benefits associated with cloud-based architecture including real-time data accessibility at a comparatively lesser cost.
  • Businesses want analytics capabilities: An increasing number of procurement software vendors have started incorporating analytics functionality within their software applications. Built-in analytics capabilities can help businesses dig into past procurement data around items, volume, spend, supplier performance, etc. This will help businesses to draw meaningful insights from current procurement data and make fact-based procurement decisions.