Procurement Software Comparison, Testing & Benchmarking

Procurement software solutions are designed to streamline the purchasing processes of businesses. However, the vast array of procurement software options available on the market can make selecting the most suitable solution for a business challenging.

To help you find the right fit, see the detailed

• procurement software comparison, evaluating key areas such as deployment, purchase order management, approval process control, supplier management, contract management, invoice processing, and reporting capabilities based on our experience,
• the evaluation of top 8 procurement tools in the market based on publicly available information.

Main findings of procurement software comparison

Read the methodology section for information on the benchmark.

Tradogram

Tradogram is designed with a clear, easy to use interface that provides straightforward steps, making it easy to navigate. Its strong emphasis on supplier management enhances procurement efficiency and supplier relationship management.

Deployment: Cloud-based, quick setup by creating an account, minimal technical support needed.

Purchase Orders: Managed by one admin, ensuring control but limiting flexibility.

Figure 1. Creating purchase orders with Tradogram

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Approvals: No automated workflows, which may cause compliance risks.

Supplier Management: Requires detailed supplier info, supports live chat and negotiations.

Figure 2. Sending purchase order to the supplier in Tradogram

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Contract Management: Integrated with supplier management, automates contract generation and storage.

Figure 3. Contract sent to supplier via Tradogram

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Invoices: Does not support invoice uploads, leading to manual work and risk of errors.

Figure 4. Tradogram provides activity logs summarizing procurement information provided in reports

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Reports: Provides detailed, currency-based spend insights for better financial planning.

Pipefy

Pipefy offers a highly flexible procurement platform, allowing for extensive customization, though this flexibility might feel overwhelming. However, it supports users with exemplary purchase order pipelines and comprehensive training videos to guide new users.

Deployment: Easy cloud setup, fast start.

Purchase Orders: Flexible roles for admins, members, and guests; risk of inconsistency.

Figure 5. Creating purchase order with Pipefy

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Approvals: Structured workflow with documented steps for compliance.

Figure 6. Approval processes of Pipefy

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Supplier Management: Supplier details optional; relies on manual data entry.

Figure 7. Supplier selection within Pipefy

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Contract Management: Generates activity summaries but lacks full contract features.

Figure 8. Summary of activities related to a purchase order with Pipefy

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Invoices: Limited; cannot match uploaded invoices with purchase orders.

Reports: Basic summaries; limited depth for spend analysis.

Odoo

Odoo, an open-source procurement software, is less flexible and comes with a steeper learning curve, requiring users to invest time in mastering the platform. However, the company addresses this by offering attentive customer support. The procurement management software provides strong invoice processing capabilities.

Deployment: On-premises, with customer support to ease setup.

Purchase Orders: Fixed order creation with a simple interface.

Figure 9. Creating purchase order with Odoo

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Approvals: Uses automated email notifications for approvals.

Figure 10. Approval of purchasing order with Odoo

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Supplier Management: No built-in communication; handled outside the system.

Contract Management: No integrated tools for negotiations or agreements.

Invoices: Strong capabilities—reads invoice details, supports manual creation, auto-calculates taxes.

Figure 11. Invoice creation with Odoo

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Reports: Rich visual analytics with charts for spend tracking and planning.

Figure 12. Virtualization of purchase with Odoo as a pie chart

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Focus points and methodology of the benchmark testing

AIMultiple compares procurement software across key functions: deployment, purchase order management, approval process control, supplier management, contract management, invoice processing, and reporting.

Deployment
We check how easily the software installs, integrates with existing systems, and what support is offered. Cloud, on-premises, and hybrid options are also reviewed.

Purchase Order Management
We test how quickly and accurately the system creates, tracks, and approves purchase orders, as well as its flexibility in handling order details.

Approval Process Control
We assess how workflows are set up, how flexible approval rules are, and how well the system enforces compliance.

Supplier Management
We examine tools for adding suppliers, managing contracts, and enabling communication. Real-time features like live chat are noted for improving collaboration.

Contract Management
We review the ability to create, store, and monitor contracts. Systems that support direct negotiation and schedule management are highlighted.

Invoice Processing
We test invoice uploads, purchase order matching, error detection, and automation. Features like automatic tax calculation are also evaluated.

Analytics & Reporting
We look at how detailed and customizable the reports are and how easily users can generate actionable insights.

Procurement software comparison test and our limitations

We tested Tradogram, Pipefy, and Odoo for core features like purchase order management. Our main limitation was relying on synthetic procurement processes, which do not reflect all real-world complexities.

To choose the right tool, organizations should test these platforms with real procurement data. This ensures a clearer view of how the software performs in daily operations.

We also could not evaluate integration with accounting or ERP systems. Since integration is critical for smooth workflows, companies should examine this closely before making a decision.

Comparison of top 8 procurement software

Disclaimer: ❌ means that the AIMultiple team couldn’t identify public evidence about a specific feature.

*Based on data from leading B2B review platforms

**Based on data from LinkedIn

Ranking: Vendors are sorted based on the number of reviews across the B2B review platforms, excluding sponsored vendor, PairSoft, at the top.

Inclusion criteria:

• All vendors featured in this list employ over 15 individuals.
• All the procurement software listed in the table above offer features such as invoice processing, spend management, and supplier management.

Disclaimer: N/A means that the vendor doesn’t publicly share its pricing for these specific tiers.

*Minimum pricing starts from 100.00 USD/month

**Pricing is contingent on company size and may vary depending on individual customer requirements.

Inclusion criteria: All vendors featured in this list employ over 15 individuals. None of the vendors offer a trial period.

We use the following assumption in this table:

• Start-ups: procurement software is used by 1 user for at most 5 processes per month
• Small business: procurement software is used by 10 users for at most 100 processes per month
• Medium-sized business: procurement software is used by 25 users with the assumption of the requirement of more advanced features
• Enterprise: procurement software is used by at least 50 users with the assumption of the requirement of more advanced features. None of the procurement software publicly provide pricing for enterprises.

PairSoft

PairSoft focuses on inventory management, providing procurement managers tools to maintain optimal stock levels and streamline the approval process. This procurement management software integrates with existing ERP systems such as Blackbaud AP module. PairSoft focuses on serving non-profit organizations as evidenced by 30 case studies with non-profit organizations.¹

Choose PairSoft for seamless integration with your existing ERP system, particularly tailored for non-profit organizations and healthcare institutions.

EYVO eBuyerAssist

EYVO eBuyerAssist includes both inventory and contract management features. Although it does not offer a free version, it can be a choice for procurement managers seeking to manage the entire procurement lifecycle, from strategic sourcing to supplier management and contract lifecycle management.[/efn_note]

Pricing plan: Pricing of this cloud-based platform is tailored based on the number of users and required features, with options for small to large enterprises. The options vary depending on lots of factors such as ERP system integration, feature sets, integrated currencies, and the level of customer support provided.

GEP Smart

GEP Smart is a procurement platform that offers both inventory and contract management. This procurement management software integrates procurement capabilities, including predictive analytics and real-time visibility, allowing users to make informed decisions. GEP Smart provides a unified source-to-pay system that supports complete control over the procurement process.

JAGGAER

JAGGAER offers inventory management capability but lacks contract management. JAGGAER’s integration with ERP systems and procurement tools makes it a choice for managing supplier relationships and procurement activities.

SAP Ariba

SAP Ariba procurement software provides inventory management and contract management capabilities. These features help procurement teams manage supplier relationships and maintain full visibility over their supply chain operations.

Precoro

Precoro offers both inventory and contract management capabilities. This procurement software supports procurement teams in managing purchase orders, supplier relationships, and procurement processes. Precoro’s integration with financial systems and its focus on ensuring compliance and reducing maverick spending make it a tool for achieving procurement excellence.

Pricing plan: Precoro uses a tiered approach with a focus on providing solutions for different procurement needs. This procurement software emphasizes automation and spend analytics to optimize purchasing processes. Their pricing model starts with basic functionality and moves up to comprehensive solutions with advanced automation and integration options in three different tiers.

Tipalti

Tipalti focuses on AP automation and invoice processing but does not include inventory or contract management capabilities. Tipalti’s integration with accounting systems provides real-time visibility and control over financial transactions.

Procurify

Procurify is a procurement software that includes both inventory and contract management features. Procurify supports procurement teams in managing the entire procurement lifecycle, from supplier onboarding to spend management.

6 Main features of procurement software

Core features

1. Spend management

A spend management solution provides procurement teams with complete visibility into organizational spending. Integrating with existing financial and accounting systems offers real-time visibility and predictive analytics, allowing users to track expenditures and identify maverick spending.

This feature enables the chief procurement officer to make informed decisions, cut costs, and improve efficiency across the procurement process, ensuring smooth and efficient operations.

2. Supplier management

Effective supplier management is crucial for maintaining strong supplier relationships and ensuring compliance with procurement policies. Procurement software streamlines the supplier onboarding process, facilitates supplier management, and provides tools for managing suppliers throughout the contract lifecycle.

This enhances the strategic sourcing capabilities of procurement teams, allowing them to build and maintain robust supplier relationships.

3. Invoice processing

Automating invoice processing is a key feature of modern procurement tools. AP automation within procurement software accelerates the approval process, reduces manual errors, and ensures timely payments.

By integrating with existing financial systems, procurement software simplifies the procurement-to-pay process, providing complete control over invoice processing and enhancing the efficiency of the procurement process.

Key features

4. Contract management

Contract lifecycle management (CLM) is an essential feature that allows procurement teams to manage contracts from initiation to renewal. This feature helps ensure compliance with contractual obligations and provides a centralized repository for all contract-related information, making it easier for procurement managers to track and manage contracts.

5. Inventory management

Inventory management within a procurement platform ensures that businesses maintain optimal inventory levels. By integrating with the ERP system, procurement management software provides full visibility into inventory levels, enabling procurement managers to make informed decisions about purchase orders and supply chain management.

This feature helps streamline operations, prevent stockouts, and reduce excess inventory, contributing to procurement excellence.

6. Intelligent applications and artificial intelligence

Modern procurement software leverages artificial intelligence (AI) and intelligent applications to enhance procurement capabilities. AI-driven insights provide procurement teams with predictive analytics, enabling them to anticipate market trends, optimize purchasing processes, and make data-driven decisions.

These intelligent applications also help automate routine tasks, allowing employees to focus on strategic activities that add more value to the organization.

Understanding procurement software pricing drivers

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1. Subscription-based pricing

Common in cloud-based solutions, this approach charges users a recurring fee, often monthly or annually. It provides flexibility and scalability, making it suitable for organizations with evolving needs.

2. Per-user pricing

Pricing based on the number of users is prevalent among many procurement software providers. This model allows organizations to pay for the exact number of users accessing the software.

3. Feature-based pricing

Some providers offer pricing based on the features included. Basic plans cover essential functions, while advanced plans provide additional features like advanced analytics, integration capabilities, and automated workflows.

4. Custom pricing

For large organizations or those with complex procurement processes, custom pricing may be offered. This often involves a tailored solution with specific features and support levels, negotiated based on the organization’s needs. Other procurement software pricing drivers include:

1. Functionality and capabilities

The breadth and depth of features offered by procurement software are major pricing drivers. Comprehensive solutions that include supplier management, contract management, inventory management, and spend management often come at a higher cost.

Features such as contract lifecycle management, invoice management, and spend analytics contribute to the software’s value and pricing. Organizations looking for the best procurement software need to evaluate whether they require advanced functionalities or basic capabilities.

2. Number of users

Pricing is often influenced by the number of users accessing the procurement software. Solutions that accommodate a larger user base typically have tiered pricing structures, where costs increase with the number of users. This model ensures that pricing scales with the size of the procurement and finance teams and their roles in the procurement process.

3. Integration with systems

The level of integration required with existing systems, such as accounting software, ERP systems, and other business processes, can impact the cost. Integration with accounting systems, ERP systems, and other business software enhances the efficiency of the entire procurement process but may involve additional costs.

4. Scope of procurement processes

The complexity of procurement processes and the degree of automation offered by the software are significant pricing factors. Solutions that streamline procurement with automated workflows, procurement strategies, and real-time budget tracking tend to be priced higher.

Software that supports complex procurement processes, including purchase requests, purchase order management, and approval workflows, usually reflects this in its cost. Customization to fit specific procurement strategies or compliance needs also affects pricing.

5. Vendor management and supplier performance

Tools that enhance vendor management and supplier performance, such as supplier onboarding, supplier collaboration, and vendor catalogs, can influence pricing. Comprehensive vendor management capabilities that improve supplier relationships and performance metrics often come with a higher price tag due to their impact on procurement efficiency and cost savings.

6. Compliance and security features

Data security, compliance with regulations, and features such as AP automation and expense tracking also drive procurement software pricing. Software solutions that offer robust data security measures and compliance features typically command higher prices due to their role in safeguarding financial data and managing risk.

7. Customer support and maintenance

Ongoing support, maintenance, and training are additional factors that affect procurement software pricing. Solutions that include extensive customer support, regular updates, and user training tend to have higher costs. These services are essential for ensuring the software’s effective use and alignment with organizational needs.

FAQ

Further Reading

• 10 AI Procurement Use Cases & Case Studies
• Procurement Case Studies: Examples & Lessons Learned

If you need further help in finding a vendor or have any questions, feel free to contact us:

Reference Links

1.

Case Studies | PairSoft

PairSoft

Principal Analyst

Cem Dilmegani

Principal Analyst

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Cem has been the principal analyst at AIMultiple since 2017. AIMultiple informs hundreds of thousands of businesses (as per similarWeb) including 55% of Fortune 500 every month.

Cem's work has been cited by leading global publications including Business Insider, Forbes, Washington Post, global firms like Deloitte, HPE and NGOs like World Economic Forum and supranational organizations like European Commission. You can see more reputable companies and resources that referenced AIMultiple.

Throughout his career, Cem served as a tech consultant, tech buyer and tech entrepreneur. He advised enterprises on their technology decisions at McKinsey & Company and Altman Solon for more than a decade. He also published a McKinsey report on digitalization.

He led technology strategy and procurement of a telco while reporting to the CEO. He has also led commercial growth of deep tech company Hypatos that reached a 7 digit annual recurring revenue and a 9 digit valuation from 0 within 2 years. Cem's work in Hypatos was covered by leading technology publications like TechCrunch and Business Insider.

Cem regularly speaks at international technology conferences. He graduated from Bogazici University as a computer engineer and holds an MBA from Columbia Business School.

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Researched by

Ezgi Arslan, PhD.

Industry Analyst

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Ezgi holds a PhD in Business Administration with a specialization in finance and serves as an Industry Analyst at AIMultiple. She drives research and insights at the intersection of technology and business, with expertise spanning sustainability, survey and sentiment analysis, AI agent applications in finance, answer engine optimization, firewall management, and procurement technologies.

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