Procurement management software is changing how businesses manage sourcing, purchasing, and supplier relationships – and for good!
As the demand for efficiency, cost control, and data-driven decision-making increases, having the right tools becomes essential to staying competitive.
Whether your goal is to automate processes, gain real-time insights, or foster better supplier collaboration, the right software can streamline procurement and fuel your business growth.
In this article, we’ll dive into the top procurement tools that can transform your operations. From automation and AI to seamless integrations, we’ll explore the features that can help you stay ahead.
Let’s jump in!
What are Procurement Tools?
Procurement tools are software solutions that help businesses streamline and manage their procurement processes. These tools automate key sourcing, purchasing, supplier management, and inventory control tasks.
At their core, procurement tools enable businesses to manage supplier relationships, track orders, and control spending. This helps ensure that goods and services are acquired at the right time, in the right quantity, and at the best price.
Essential Features of Procurement Tools
- Automation of Procurement Tasks: Automates repetitive tasks such as order creation, invoice processing, and approval workflows, saving time and reducing human error.
- Supplier Management: Helps track and evaluate supplier performance, manage contracts, and maintain communication, ensuring strong supplier relationships.
- Spend Visibility and Control: Provides real-time insights into spending, enabling businesses to track budgets, optimize costs, and ensure compliance.
- Analytics and Reporting: Delivers data-driven insights and reports on procurement activities, helping businesses make strategic decisions.
- Inventory Management: Monitors stock levels, automates reordering processes, and optimizes inventory to prevent overstocking or stockouts.
- Collaboration and Communication Tools: Facilitates collaboration between procurement teams, finance, operations, and suppliers to ensure alignment and transparency across the supply chain.
- Integration Capabilities: Integrates with other business systems such as ERP (Enterprise Resource Planning), accounting, and supply chain management to ensure seamless operations.
Distinguishing Procurement Tools by Process Level
Operational (Procure-to-Pay) | Tactical (Source-to-Contract) | Strategic (Plan-to-Strategy) | |
Process Scope | Day-to-day purchasing and payment activities | Day-to-day purchasing and payment activities | Long-term planning, category strategy, and value creation |
Top Features & Tool Focus | – Automated requisition and PO creation – Invoice processing – Real-time spend controls – Compliance and audit trails – Supplier collaboration – Inventory management | – Centralized supplier onboarding – RFP/RFQ automation – Contract negotiation and management – Approval workflows – Spend analytics – Risk and compliance checks | – Category strategy development – Scenario modeling – Spend and market analysis – Cross-functional collaboration – AI-driven insights – Alignment with business objectives – Sustainability and risk management |
Example Use Case | Ordering office supplies, processing invoices, tracking deliveries | Running a competitive bid for a new supplier, managing contract renewals | Setting multi-year procurement strategies, aligning sourcing with business goals, driving innovation and sustainability |
By understanding these distinctions, businesses can select the right procurement management software for each level.
Top 15 Procurement Tools to Boost Your Business in 2025
Let’s take a look at the must-have procurement tools that will streamline your processes, improve efficiency, and help you stay ahead.
1. akirolabs
akirolabs is a cutting-edge procurement software designed to help businesses create and optimize procurement strategies ( category and supplier ), and make data-driven decisions.
Its AI-powered platform provides real-time insights, strategic scenario modeling, and automated workflows to elevate procurement efficiency.
Key Features
- Centralized Collaboration Hub: Say goodbye to scattered spreadsheets. Centralize your strategic procurement and category management, foster seamless teamwork, and ensure everyone can develop strategies.
- AI-Powered Market Intelligence: Tap into AI to reveal hidden opportunities, monitor your suppliers, make smart sourcing outcomes, and ensure informed decisions using real-time data.
- Scenario Modeling for Smarter Decisions: Evaluate multiple sourcing scenarios with our advanced capabilities before deciding. You can assess potential outcomes, weigh risks, and choose the most advantageous option based on data-driven insights.
- Effective Supplier Management: Shift the focus from managing product categories to managing key suppliers directly. Put suppliers at the center of planning, to create better partnerships and goals alignment. Manage all contracts with clear views of supplier contracts so you can keep track of renewals, renegotiate terms, and manage supplier relationships more effectively.
- Proactive Risk Reduction: akirolabs helps you stay ahead of the curve. Plan for potential risks and future-proof your operations. Build and analyze multiple scenarios to prepare for global issues to keep your business ready for any challenges.
- Procurement with Purpose: akirolabs help to choose suppliers that reflect your commitment to ethical and sustainable practices, helping your company create lasting value.
- Data Alignment: It helps show how your business and the bottom line are taken care of by the heads of departments.
Pricing
akirolabs offers customized pricing based on business needs. Contact their sales team for a quote.
2. Precoro
Precoro simplifies procurement by providing end-to-end automation. It streamlines the entire procurement cycle from requisition to payment, allowing businesses to manage suppliers, control expenses, and improve spend visibility.
Key Features
- Automated Purchase Orders: Simplifies the creation and approval of purchase orders.
- Supplier Management: Centralizes supplier information to optimize relationships.
- Spend Analytics: Provides detailed reports to identify savings opportunities.
- Invoice Processing: Automates invoice matching and approval workflows.
- Integration with ERPs: Seamlessly integrates with existing business systems like ERP solutions.
Pricing
Precoro’s pricing plans start at $499/month when billed annually.
3. TradoGram
TradoGram offers an intuitive procurement tool designed to enhance supplier communications and streamline order management. With real-time tracking and order visibility, it helps businesses reduce errors and manage procurement effectively.
Key Features
- Real-Time Tracking: Tracks orders in real-time, ensuring transparency and efficiency.
- Order Management: Automates the creation and tracking of purchase orders.
- Supplier Communication: Facilitates direct communication with suppliers within the platform.
- Document Storage: Stores and organizes procurement documents for easy access.
- Customizable Workflows: Adjust workflows to meet specific business needs.
Pricing
TradoGram offers tiered pricing based on user requirements. The tier starts at $198/month for upto nine users.
4. Procurify
Procurify is a cloud-based procurement solution aimed at enhancing visibility into spending and improving the approval process. It simplifies procurement by offering streamlined workflows and real-time data access for smarter purchasing decisions.
Key Features
- Purchase Order Management: Automates the creation and approval of purchase orders.
- Spend Tracking: Tracks all procurement expenses to ensure alignment with budget goals.
- Approval Workflows: Streamlines the purchase approval process with customizable workflows.
- Mobile Access: Allows users to manage procurement on the go via mobile apps.
- Supplier Management: Helps businesses manage and evaluate supplier performance.
Pricing
Book a demo to get custom pricing quotes.
5. Odoo
Odoo is an integrated suite of business applications that includes procurement management. It is particularly beneficial for businesses looking for an all-in-one solution to manage procurement, inventory, and other operations.
Key Features
- Integrated Procurement and Inventory: Links procurement with inventory management for seamless operations.
- Automated Procurement: Automates purchase orders, approvals, and invoicing.
- Supplier Management: Manage and evaluate suppliers with built-in tools.
- Purchase Forecasting: Predict future needs based on past purchasing patterns.
- Customization Options: Offers extensive customization options to fit unique business needs.
Pricing
Odoo pricing starts at $24.90 per user/month billed monthly) for the basic version, with additional features available at higher pricing tiers.
6. Coupa
Coupa is a comprehensive procurement management software known for its focus on delivering value through a unified spend management platform. With its powerful analytics and cloud-based tools, Coupa helps businesses drive savings, enhance supplier collaboration, and optimize procurement strategies.
Key Features
- Spend Visibility: Provides real-time insights into company-wide spend for better control.
- Supplier Collaboration: Enhances collaboration with suppliers through a centralized platform.
- Procurement Automation: Automates key procurement tasks to increase efficiency.
- Expense Management: Helps manage and optimize expenses across the business.
- Analytics and Reporting: Delivers actionable insights to support data-driven decision-making.
Pricing
Coupa offers customized pricing based on business needs. Contact their sales team for a personalized quote.
7. SAP Ariba
SAP Ariba is a market leader in cloud-based procurement software. Known for its global reach, it provides businesses with the tools to streamline procurement, manage suppliers, and achieve significant cost savings through enhanced supplier visibility.
Key Features
- Global Supplier Network: Access to a vast network of suppliers for competitive sourcing.
- Supplier Performance Management: Monitors supplier performance for improved relationships.
- End-to-End Procurement: Manages the entire procurement lifecycle from sourcing to payment.
- Contract Management: Centralizes contract management for better compliance.
- Analytics and Spend Insights: Provides deep insights into spending and supplier performance.
Pricing
Pricing for SAP Ariba varies by business size and requirements. Contact SAP Ariba for a custom quote.
8. Spendwise
Spendwise is a comprehensive procurement management solution designed to simplify spend management for businesses. With its focus on automation and real-time tracking, Spendwise provides visibility into all procurement activities, helping businesses optimize their spending, streamline approvals, and make data-driven decisions.
Key Features
- Automated Purchase Orders: Creates and automates purchase orders, reducing manual entry and errors.
- Budget Control: Provides tools to manage and track budgets across departments.
- Spend Visibility: Gives real-time insights into spending patterns for better decision-making.
- Supplier Management: Helps businesses manage supplier information, contracts, and performance.
- Analytics and Reporting: Offers detailed reports to analyze spending, optimize budgets, and improve procurement strategy.
Pricing
Pricing starts at $9 per user/month.
9. NetSuite Procurement
NetSuite Procurement is part of the comprehensive NetSuite ERP suite. It provides businesses with powerful procurement tools designed to integrate seamlessly with other business functions like finance and supply chain management.
Key Features
- Integrated Procurement and Finance: Seamlessly integrates procurement processes with finance and accounting.
- Supplier Management: Offers tools to manage and evaluate suppliers for better collaboration.
- Purchase Order Management: Automates and tracks purchase orders to improve efficiency.
- Spend Control: Provides real-time visibility into procurement spend.
- Analytics & Reporting: Delivers detailed procurement reports to drive decision-making.
Pricing
NetSuite Procurement pricing is available by request and depends on business size and needs.
10. Jaggaer
Jaggaer is a robust procurement management platform offering comprehensive spend management, supplier collaboration, and data-driven insights. It helps organizations streamline procurement workflows and achieve greater efficiency in sourcing and purchasing.
Key Features
- Spend Analytics: Provides detailed insights into procurement spending to drive cost reduction.
- Supplier Collaboration: Enhances collaboration with suppliers for better pricing and improved relationships.
- Sourcing Optimization: Helps businesses identify the best suppliers through strategic sourcing.
- Contract Management: Centralizes contract information for easier access and better compliance.
- Supplier Risk Management: Assesses supplier risk to improve supply chain resilience.
Pricing
Jaggaer offers customized pricing based on company size and requirements. Contact their sales team for a quote.
11. ProcurementExpress.com
ProcurementExpress.com is a user-friendly procurement software designed for small to medium-sized businesses. It simplifies the purchasing process by automating requisition, approval workflows, and budget management.
Key Features
- Purchase Order Management: Automates and tracks purchase orders throughout the procurement process.
- Budget Management: Helps set procurement budgets and ensures spending stays within limits.
- Approval Workflows: Customizes approval workflows for streamlined decision-making.
- Supplier Management: Centralizes supplier details to improve procurement efficiency.
- Real-Time Tracking: Tracks expenses and order status in real-time.
Pricing
Pricing starts at $256 per month for managing up to $10k/month. Custom pricing is available for larger capacity.
12. Airbase
Airbase is a comprehensive spend management platform that combines procurement, accounts payable, and expense management. It offers businesses greater control over spending by automating key procurement processes, streamlining approval workflows, and providing real-time visibility into company-wide expenses.
Key Features
- Automated Purchase Orders: Streamlines the creation and approval of purchase orders to reduce manual work and errors.
- Budget Management: Offers full visibility into budgets, helping businesses monitor spending against approved budgets.
- Spend Visibility: Provides real-time insights into all procurement-related expenses and helps prevent overspending.
- Supplier Management: Manages supplier information, ensuring smoother operations and stronger supplier relationships.
- Integration with Accounting Systems: Integrates seamlessly with accounting systems like QuickBooks, Xero, and NetSuite to ensure smooth data flow and accurate reporting.
Pricing
Airbase offers custom pricing based on the specific needs of your business. Contact their sales team for a tailored quote.
13. Pipefy
Pipefy is a versatile business process management tool that allows organizations to automate procurement workflows and manage supplier relationships with ease. With a focus on process automation and collaboration, Pipefy enhances procurement efficiency.
Key Features
- Custom Workflows: Builds tailored procurement workflows to suit business needs.
- Automation of Procurement Tasks: Automates repetitive tasks such as purchase requests and approvals.
- Supplier Management: Centralizes supplier details for easier access and relationship management.
- Real-Time Reporting: Provides real-time insights to track procurement performance.
- Collaboration Tools: Facilitates collaboration between teams through centralized communication channels.
Pricing
Pipefy offers customized pricing based on business needs. Contact their sales team for a personalized quote.
14. Tipalti
Tipalti is an automated procurement and payment processing platform that helps businesses manage their entire supplier lifecycle, from onboarding to payments. It’s particularly useful for global businesses handling large volumes of suppliers.
Key Features
- Automated Supplier Onboarding: Simplifies the process of onboarding new suppliers.
- Global Payment Processing: Handles payments to suppliers across multiple countries and currencies.
- Compliance & Risk Management: Ensures compliance with regulations and reduces fraud risk.
- Spend Visibility: Offers real-time visibility into procurement spending.
- Supplier Portal: Provides suppliers with a self-service portal to track payments and manage their data.
Pricing
Tipalti offers pricing starting at $99/month for the Starter plan. Additional features and custom pricing are available depending on the size and needs of the business.
15. Fraxion
Fraxion is a user-friendly procurement management platform designed to optimize spending and enhance procurement workflows. It helps businesses automate key procurement processes, ensuring better cost control, supplier management, and operational efficiency.
Key Features
- Purchase Order Automation: Automates the entire purchase order process, reducing manual entry and errors.
- Budget Control: Allows teams to set and track budgets to ensure compliance and optimize spend.
- Approval Workflows: Customizable approval workflows streamline procurement processes and increase efficiency.
- Supplier Management: Helps track supplier performance and manage relationships to foster better negotiations.
- Analytics and Spend Reporting: Provides powerful spend visibility through analytics and detailed reporting to drive strategic decision-making.
Pricing
Fraxion pricing starts at $399/month. However, it is contingent on company size, features, and integrations.
Conclusion
Businesses need advanced procurement management software to streamline procurement processes, control spending, and enhance supplier relationships. The right tools can automate tasks, offer valuable insights, and provide scalability to keep pace with evolving market demands.
akirolabs offers a comprehensive solution to meet these needs, integrating cutting-edge technology to optimize procurement strategies.
With its AI-powered insights, supplier diversity management, and seamless collaboration tools, akirolabs empowers businesses to enhance procurement efficiency while aligning with broader organizational goals.
Ready to take your procurement to the next level?
Schedule a demo with us today and unlock the full potential of your procurement strategy.