Top 10 Procurement Software Features & Prices Analyzed

As businesses face procurement process challenges such as supply chain disruptions and inventory management¹ , procurement software has become essential. See top 10 procurement software and the details by clicking the links below:

See the top 10 procurement management software along with their capabilities in contract, inventory management and pricing options:

Comparison of top 10 procurement software

Table 1. Features summary

*N/A means that the vendor doesn’t publicly share its pricing. The pricing information is effective as of July 1, 2024.

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

Table 2. Market presence summary

*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. For more detailed information regarding these features, see core features of the procurement software.

Table 3. Pricing summary

Disclaimer: N/A means that the vendor doesn’t publicly share its pricing for these specific tiers. The pricing information is effective as of July 24, 2024.

*Minimum pricing starts from 100.00 USD/month

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

Ranking: Vendors are sorted based on the number of employees.

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 or NetSuite AP module. PairSoft focuses on serving non-profit organizations as evidenced by 30 case studies with non-profit organizations.⁸

User reviews

✅ PairSoft integrates well with platforms like Raiser’s Edge, allowing fundraising staff to view and add documents for a comprehensive overview of constituents.⁹

Figure 1. A user review on PairSoft

✅ The software supports attaching digital or scanned documents to records, which are automatically assigned metadata for easy searching.

❌ Users have reported customer support issue since the company was acquired, making it difficult to get assistance when needed.

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

Tradogram

Tradogram offers procurement capabilities with a focus on inventory management. Its free version allows procurement teams to experience its core features, making it accessible to smaller procurement organizations. The platform supports supplier management and real-time visibility into the procurement process.

Figure 2. Pricing plan of Tradogram

Source: Tradogram¹⁰

Pricing plan: The procurement automation software provides a free basic plan with limitations on the number of users and transactions. Two paid plans are designed for larger teams and offer

User Reviews

✅ Most users find the system intuitive and easy to use, requiring minimal training.

Figure 3. A user review on Tradogram

❌ Unit of measure settings can complicate the procurement process when they’re not necessary for operations.

❌ Users would like the ability to disable unnecessary features to streamline workflow.¹¹

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.

Figure 4. Pricing plan of EYVO eBuyerAssist

Source: EYVO eBuyerAssist¹²

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.

User Reviews

✅ File attachments for requisitions, purchase orders, and contracts provide a 360-degree view of purchasing transactions, aiding in decision-making and audit processes.

❌ Constant updates and new features may cause confusion among users who are not expecting the changes, although the updates are valuable and show the company’s commitment to product development.

Figure 5. A user review on EYVO eBuyerAssist

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.

User reviews

✅ GEP Smart invests in new technology trends such as AI, Machine Learning, and digital adoption, demonstrating a commitment to innovation.

❌ Improvement is needed in the turnaround time for data enrichment.

Figure 6. A user review on GEP Smart

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.

User reviews

✅ JAGGAER allows organizations to procure services from multiple entities and suppliers in one place, simplifying the procurement process.

❌ Reassigning tickets can be time-consuming, especially with long lists of PQs or SCs. A batch reassignment feature would be beneficial.¹³

Figure 6. A user review on JAGGAER

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.

User reviews

✅ Configuring approval workflows in SAP Ariba is straightforward compared to other applications, aiding in smoother operations.

❌ Businesses with unique procurement processes might find it challenging to adapt the platform to their specific requirements.

Pipefy

Pipefy is a procurement software that focuses on contract management rather than inventory management. It offers a free version, making it an ideal choice for smaller businesses. Pipefy’s strength lies in its ability to automate approval processes and manage supplier contracts efficiently, thus streamlining procurement operations and ensuring compliance.

Figure 7. Pricing plan of Pipefy

Source: Pipefy¹⁴

Pricing plan: Pipefy procure-to-pay software offers procurement teams a free plan with basic features, suitable for small teams or individuals. For more advanced needs, including enterprise-level security and support, Pipefy provides two tiered pricing plans that can be customized based on the organization’s requirements. The vendor does not publicly disclose pricing of options currently.

User reviews

✅ Users appreciate having everything in one place, eliminating the need for Excel sheets and improving version control.

Figure 8. A user review on Pipefy

✅ Reporting is easy and customizable, and the workflow and project tracking features help teams operate more efficiently.

❌ Some users found the initial setup challenging, especially for unique requests. However, the Pipefy team was helpful in finding creative solutions to meet these needs.¹⁵

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.

Figure 9. Pricing plan of Precoro

Source: Precoro¹⁶

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 options.

User reviews

✅ Precoro is praised for its affordability, making it accessible to businesses with varying budget constraints.¹⁷

❌ While Precoro covers the procure-to-pay process effectively and offers budget control visualizations and fast approval notifications, limited features of performing some business transactions e.g, adjustments of credit notes and inventory write-offs is a drawback for users needing comprehensive inventory management features.

Figure 10. A user review on Precoro

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.

User review

✅ The platform significantly speeds up approval times, enhancing workflow efficiency and reducing bottlenecks.

✅ Users appreciate the user friendly interface and ease of navigating around the system.

❌ Users report that the dashboard and reporting functionalities need improvement, including the addition of necessary fields.

Figure 11. A user review on Tipalti

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.

User review

✅ Procurify integrates seamlessly with vendors like Staples and Amazon, making the purchasing process more efficient and streamlined.

❌ Users cannot pull back and edit their own requests. Instead, they have to duplicate the request, make the necessary changes, and delete the old one, which can be cumbersome.

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

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.

Further Reading

•  AI Procurement Use Cases & Case Studies
• Healthcare Procurement Challenges & Effective Solutions
• Nonprofit Procurement: Checklist & Challenges

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

External Links

• 1. Procurement actions for CPOs in 2024.
• 2. Pricing. Pipefy. As of 24/July/2024
• 3. Procurement Software Pricing. SutiProcuren. As of 23/July/2024
• 4. Pricing. Precoro. As of 24/July/2024
• 5. Procurement Software Pricing. Fraxion. As of 23/July/2024
• 6. Pricing. EYVO eBuyerAssist. As of 24/July/2024
• 7. Pricing. Tradogram. As of 24/July/2024
• 8. Case Studies | PairSoft. PairSoft
• 9. PairSoft Reviews 2025: Details, Pricing, & Features | G2.
• 10. Tradogram Pricing | Procurement Software Price.
• 11. PairSoft Reviews 2025: Details, Pricing, & Features | G2.
• 12. Procurement Software Pricing | eyvo.
• 13. Jaggaer Reviews 2025: Details, Pricing, & Features | G2.
• 14. Pricing | Pipefy. Pipefy
• 15. SAP Ariba Reviews 2025: Details, Pricing, & Features | G2.
• 16. Precoro Pricing — Transparent Plans for All Business Sizes .
• 17. Precoro Reviews & Ratings 2025. TrustRadius