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NetSuite
NetSuite
With an integrated system that includes ERP, financials, commerce, inventory management, HR, PSA, supply chain management, CRM and more – NetSuite enables fast-growing businesses across all industries to work more effectively by a...Read more about NetSuite
Tradogram
Tradogram
FrontRunners 2024
Tradogram is a cloud-based procurement management solution. Users can choose from a list of integrated modules such as supplier management, purchase-to-pay, contract management, strategic sourcing and order management. Team manag...Read more about Tradogram
Team Procure
Team Procure
Team Procure is a cloud-based procurement suite that empowers businesses to manage their purchasing approvals, purchase orders, strategic sourcing, suppliers, and inventory. Conduct RFQ and E-Auction negotiations to secure the be...Read more about Team Procure
Precoro
Precoro
FrontRunners 2024
Precoro is a cloud-based purchasing software that streamlines procurement processes for SMBs and Enterprises. Key features include purchase order creation and delivery, blanket PO, visual analytics on spends by departments, billin...Read more about Precoro
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Spendwise
Spendwise
FrontRunners 2024
Spendwise is a cloud-based system that helps businesses and other organizations track, manage and control spending. Users can create purchase orders, submit them for approval, approve or reject them, and email them directly to ven...Read more about Spendwise
Procurify
Procurify
Procurify’s easy-to-use Intelligent Spend Management platform provides hundreds of organizations worldwide with real-time visibility and control over all business spend. By bringing more spend under management, our customers captu...Read more about Procurify
Order.co
Order.co
FrontRunners 2024
Order.co is the first and only Spend Efficiency Platform that helps businesses save time, save money, and gain clarity into their spend. Order.co eliminates manual purchasing and payment tasks and gives your team one place to purc...Read more about Order.co
Coupa
Coupa
FrontRunners 2024
Point solutions are pointless: spend smarter with the leading spend management platform built for companies like you. The Coupa platform allows you to take control of your spend and position your business for resilience and growth...Read more about Coupa
Fraxion
Fraxion
Fraxion provides a complete procure-to-pay solution for purchasing, expense, and AP automation. The all-in-one procure-to-pay suite includes: -Purchase requisitions & custom approvals -Budget & policy control -Purchase order aut...Read more about Fraxion
Da Vinci Supply Chain Business Suite
Da Vinci Supply Chain Business Suite
Da Vinci is a cloud-based supply chain management (SCM) solution designed specifically for 3PLs, internet retailers and wholesale businesses with demanding warehouse, fulfillment and transportation needs. In addition to a WMS an...Read more about Da Vinci Supply Chain Business Suite
Pipefy
Pipefy
FrontRunners 2024
Pipefy is the AI-enhanced process automation platform that conserves IT resources and empowers business teams to build and deploy up to 85% of workflows — no coding knowledge or third-party specialized services firms required. St...Read more about Pipefy
PayEm
PayEm
PayEm’s platform automates finance processes from request to reconciliation, giving individuals and teams within global organizations the ability to manage non-payroll spend. PayEm is one platform for vendor payments, corporate cr...Read more about PayEm
QSTRAT Sourcing
QSTRAT Sourcing
QLM Sourcing & Supplier Management by QSTRAT is a Strategic Sourcing solution that caters to businesses in industries such as automotive, medical devices, aerospace and more. Key features include supplier eRFQ life-cycle managemen...Read more about QSTRAT Sourcing
Dynamics 365
Dynamics 365
Microsoft Dynamics 365 is a cloud-based CRM ecosystem for small, medium and enterprise organizations, with a focus on Sales, Field Service, Customer Service complete with strong integrations with Microsoft’s other Office 365 offer...Read more about Dynamics 365
Xero
Xero
Xero is a global small business platform with 3.95 million subscribers which includes core accounting, payroll, workforce management, expenses and projects. Xero also has an extensive ecosystem of connected apps and connections to...Read more about Xero
ShippingEasy
ShippingEasy
ShippingEasy is a cloud-based shipping and inventory management solution suitable for small to midsize e-commerce businesses. Key features include order management, label customization, integration with multiple seller channels, r...Read more about ShippingEasy
Odoo
Odoo
FrontRunners 2024
Odoo is the #1 open-source integrated business apps suite. Main apps include Website Builder, eCommerce, CRM, Accounting, Project Management, Warehouse Management, Manufacturing, Human Resources, and Marketing. There is an app for...Read more about Odoo
Cin7 Core
Cin7 Core
FrontRunners 2024
Cin7 Core is an app that makes enterprise-level inventory management, manufacturing, sales integration, reporting, and automation accessible to all businesses. Leverage the power of multi-module inventory management software to k...Read more about Cin7 Core
Zoho Books
Zoho Books
Zoho Books comes with automatic bank feeds, collaborative client portal, accounting and taxing, online payments, invoice templates and analytical reports. The system allows users to manage multiple time sheets of different project...Read more about Zoho Books
QuickBooks eCommerce
QuickBooks eCommerce
QuickBooks Commerce is a powerful cloud-based inventory and order management software for modern online businesses. Seamless integration across all major e-commerce platforms ensures that product listings, orders, and data stay up...Read more about QuickBooks eCommerce
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Buyers Guide
Last Updated: March 16, 2023What is purchase order software?
Purchase order software is a software tool that manages essential procurement processes. It creates and manages purchase orders (POs), can transmit POs to suppliers, and reconciles supplier invoices to POs, contracts, and more.
Purchase order software can be offered as a standalone software program or as an application within a supply chain management system or enterprise resource planning (ERP) software (more on this below).
In this buyers guide, we’ll examine the various types of PO software, the standard features, and the types of buyers in this space.
Here's what we'll cover:
What are the major types of purchase order software?
POs are the beginning of both direct and indirect procurement processes. Direct procurement refers to the purchasing of goods and services used in an organization's products, whereas indirect procurement refers to the purchasing of goods and services used to support an organization's processes.
As such, there are various types of software that deal with purchase orders:
Types of Purchasing Software
Procure-to-pay (P2P) suites are essentially all-purpose tools for managing all of an organization's procurement activities. Typically, P2P systems wade into related areas such as contract management, inventory management, supplier management, and strategic sourcing. They're the focus of this buyers guide.
Most P2P solutions are cloud-based.
ERP suites typically feature procurement modules, but primarily work in conjunction with other modules in the system—e.g., production planning. Moreover, these modules tend to lack the niche features as well as the user-friendly interfaces that encourage adoption throughout an organization.
Work-stream tools are stand-alone applications for managing highly specific procurement processes (telecommunications spend, temporary workforce spend, travel spend etc.). These tools offer dedicated interfaces and approvals workflows to streamline a single, highly important procurement process.
While these solutions are niche, they can offer major benefits when it comes to managing tricky forms of spending. Gartner notes in "Procurement Leaders Need to Deploy Work-Stream-Specific P2P Solutions to Maximize ROI" that “work-stream-specific P2P solutions deliver dramatic out-of-the-box improvements over basic tools in the granularity and degree of control over spending. They achieve this through improved compliance to contract, spend category, and/or project specific workflows and order process audit trail documentation.” (This content is available to Gartner clients.)
Typically, if you're looking for a work-stream tool, you're looking to control spending in a specific area, and you'll look to the niche vendors that specialize in this area. Hence our focus here will be on multipurpose procure-to-pay (P2P) suites.
Notifications on expense report in Coupa Cloud Spend Management
What are the features of purchasing software?
P2P suites offer a range of modules with diverse functions. The below table homes in on some of the most important:
Rules engine for PO to invoice reconciliation (accounts payable automation) | One of the core features of any procurement solution. Automates the tedious process of reconciling POs to invoices by matching them via rules engines. |
PO to contract reconciliation | Automatically match POs to contracts. |
E-invoicing | Transmit and store invoices in an electronic format such as electronic data interchange (EDI). |
E-catalogs | Can be customized and managed to show, for example, prices based on contracts. |
Integrated spend analysis and reporting | Procurement managers can analyze spend using native reporting tools or export prepared and aggregated data for further analysis. Advanced solutions sport built-in data warehousing functionality. |
Expense reporting and management | Enables a rules-based approach to ensure compliance with organizational policies. |
Strategic sourcing | Some of the more robust P2P suites have built-in modules for strategic sourcing via reverse auctions and other mechanisms. |
ERP integrations | Since P2P solutions are sold as suites in their own right rather than components of ERP systems, they typically offer integrations with leading ERP systems. |
Procurement e-catalog in GEP
Benefits and potential issues
P2P solutions offer the following key benefits:
Automation of accounts payable (AP) processes: Procurement software eliminates the necessity for manual matching with rules engines, improving efficiency, accuracy, and cost-effectiveness.
Better control over expenditures: Features such as e-catalogs through which employees can make purchases, supplier information databases, and rules for creating POs and reporting expenses ensure that employees' purchasing habits comply with organizational policies to reduce spending.
Paperless processing: By eliminating the use of paper in crucial areas, these solutions can offer dramatic savings.
Integrated reporting and spend visibility: P2P solutions offer dashboards as well as ad hoc reporting interfaces to ensure better visibility into expenditures throughout the organization.
Improved purchasing workflows: User-friendly interfaces with built-in approvals workflows, as well as remote and mobile access to the system, simplify complex purchasing processes.
Exceptions to AP process report in Basware
Potential issues include:
Local e-invoicing regulations: While e-invoicing doesn't pose particular regulatory challenges in the US, it remains difficult and/or impossible in some areas of the world. Gartner offers specific guidance in the report E-Invoicing Gains Traction Worldwide.
Employee adoption: Lack of support for some complex purchasing workflows (e.g. travel purchases) may lead to poor adoption of the system. In some cases, the purchase of an additional work-stream-specific tool may be necessary to supplement the functionality of the P2P suite and encourage engagement.
What type of buyer are you?
We've seen that there are many software options out there for managing POs. Let's take a look at which kinds of buyers should examine particular solutions.
Buyers primarily involved in direct procurement should explore procurement modules in ERP suites, which offer integrated features in other modules for making the most of data generated by direct procurement (e.g., production planning). Additionally, ERP systems offer strong functionality in areas such as vendor-managed inventory/automated replenishment, which are key to streamlining direct procurement processes.
Buyers dealing with both indirect and direct procurement should explore P2P suites, as these suites are robust and rangy enough to handle various types of purchasing.
Departmental buyers should explore work-stream specific tools that don't require the whole organization to move onto a new procurement platform.
Buyers seeking to control spend in a single key area should evaluate work-stream specific tools.
Buyers with advanced needs such as job costing and quoting need to evaluate niche solutions that can track POs against jobs and that can convert quotes to invoices. Such features are lacking in many all-purpose P2P suites.