Procurement processes through third-party relationships can be necessary for the acquisition of goods and services that support businesses and organisations. However, successful procurement practices can involve many different actions, including ensuring the safety of their purchases, analysing their expenditures, managing their approvals and other related tasks. For organisations within the UK, procurement software systems have been an increasingly popular option to handle these tasks.
Procurement software is designed to remove the stress and guesswork from supplier-related business processes. Through these tools, users can streamline their organisation’s procurement processes and ensure the security of their data. These systems can offer a lot for facilitating positive and simplified supplier relations, such as third-party supplier onboarding, managing contracts, tracking approvals and maintaining compliance. Additionally, the procurement data collected from these systems can even be used to gain meaningful insights on expense tracking, which can be helpful for decision-makers and finance teams.
With the software industry expected to gain traction in the upcoming years, let’s look at what some existing procurement solution providers are currently offering to organisations in the UK.
Best for Security
SAP Ariba procurement software helps users with solutions for sourcing, procuring and paying for their supplier needs. Its features include accounts payable automation, e-invoicing, spend management, contract lifecycle management, strategic sourcing, vendor management, audit management, workflow management and more. In addition, the system integrates each step of the production process to help users complete their tasks on one system. What’s nice about this software is its security capabilities. It has security safeguards to protect user data as well as automated real-time alerts and monitoring so that any issues can be detected and resolved.
There is no free trial for this software, and subscription costs are distinguished by bronze, silver, gold and platinum levels based on the annual document count threshold. Annual subscription prices start at £35 for the bronze level and can increase to £3,770 for the highest platinum level.
The SAP Ariba Cloud Integration Gateway allows users to integrate their system with their buyers, suppliers and other workforce software products.
Overall, online reviewers of the software seem to be satisfied with its capabilities. However, some complain that the system can be tricky to master, and making mistakes with invoices or other processes can be challenging to resolve.
Best for Expense Tracking
Tipalti Approve is a procurement management solution for finance and procurement teams. The product allows users to streamline their company spending behaviours with customisable request forms and expense tracking features. Approval workflows can be built and customised to the company’s policies to speed up the approval processes. The reports and dashboards can display process data so that team leaders and decision-makers can derive insights, and activity tracking can help ensure that all team members are working diligently. Additionally, the system can automate users’ repetitive tasks, and smart alerts can keep users updated on required actions.
Tipalti offers a free demo for users interested in this system. It has full integrations with NetSuite and can integrate with SSO and HR systems. The NetSuite integration can allow users to generate POs, sync their real-time budget data, send out intuitive vendor onboarding forms, and enable requesters to confirm the receipt of goods and services.
Most software reviewers said they enjoyed the product’s user-friendliness, but others wished for more features, like virtual credit cards, automated file uploading and invoicing capabilities.
Best for Records Management
Oboloo provides self-service cloud procurement software for sourcing, saving, supplier and contract management. The system’s eSourcing lets users communicate their needs to suppliers directly within the program. Contracts tracking, documents and records on historic sourcing activities are secure and accessible in the system, and dashboards and workflows help users stay on track of their essential activities. Users can also view performance and risk records and promote their organisational values to their suppliers, ensuring communication. This accessible reporting can allow users to provide all necessary information to their suppliers and improve their supplier communication and sourcing activities. Questionnaires can also be provided to suppliers within the system to gain knowledge through evaluations on costs and other factors.
Pricing is billed monthly and starts at £99 for first licences and £79 for additional licences. Alternatively, people can contact them for customised software and pricing preferences. The software has an API and can connect with external accounting software and ERPs, including Sage, SAP, QuickBooks and Xero.
Customer reviews online indicate overall satisfaction with the product, aside from some reviewers who expressed their desire for more integrations.
Best for Accessibility
GEP SMART is a source-to-pay cloud-native procurement software platform with apps for android and iOS devices. Through the use of robot process automation, machine learning and AI, users can save time on repetitive tasks that are instead completed by the system. Users can gain insights into the product’s data analytics with the tool’s intuitive design. The AI capabilities can execute source-to-pay processes, making business activities easier for the workforce team. A nice feature of the product is its accessibility options, as it is available through cloud, mobile and touch technologies. The unification of this software and other integrated systems also allows it to provide users with procurement analysis for improved decision-making and tools for procurement management across all systems within the platform.
GEP’s procurement software can integrate with other third-party systems, including Oracle, JD Edwards, SAP and PeopleSoft.
Most online reviews of the product seemed pleased with its features. However, one request in the reviews was for a connection between data insights and market intel by category, which the system seems to be lacking.
Best for Customised Features
Atamis 3.0 is a web-based procurement platform. The software is modular, thus allowing customers to decide upon the features that they would like to implement within their system. The ability for users to customise their product in this way could be helpful ensuring that they get the most out of their procurement tool. The Atamis PM procurement tool helps users to determine how they should plan and manage their procurement pipeline and projects to save money. It also has department-level resource forecasts, reports and dashboards for insights and annual budget planning. With the tool, users can generate contract documents, track the performance and benefits of their suppliers, and identify and assess risks for their company supply chain processes.
Those interested in the product can request a free trial or access to an online demonstration of the tool’s capabilities. It has integration options for contract management and works alongside third-party tools such as Dun & Bradstreet, MS Outlook and DocuSign.
Customer reviews online indicate that the software is helpful for contract management, forecasting, and relationship management.
Best for SAP Users
Easy Software’s procurement software is advertised as being just that – easy. The product is for SAP users and offers digitised procurement processes. Features for support with the entire procurement process are available with the tool, and automated processes for approvals help to reduce time, costs and user efforts. The system digitally stores data from the procurement process and makes them available for users to access. Risks are also managed as the tool helps with adherence to compliance guidelines through its contract management capabilities. Additionally, processes are simplified through its other features, including invoice receipt and contract management.
The software is designed to work with other SAP solutions, including SAP MM, SAP SRM or SAP Ariba products.
Customers seem to enjoy the time-saving features and user-friendly capabilities of this product. But, of course, only users who work with SAP tools and solutions will be able to enjoy the benefits offered by this procurement software solution.
Best for Invoice Management
JAGGAER has procure to pay solutions available for users in the UK. The tool helps users to save time with invoicing capabilities, inventory management and research material management. The automation capabilities can also save user effort with automated invoice matching, payments and approvals. JAGGAER Supplier Enablement helps with supplier onboarding, and the supplier portal lets users manage their transactions, communication, issue resolution and business processes with suppliers. Through its OneShop feature, users can compare prices and details from punchouts, internal inventory and hosted catalogs to facilitate invoice management. Invoice matching can yield early payment discounts through the system as well as save an organisation money and keep users’ customers satisfied.
The tool’s API allows users to connect the platform with other systems, including enterprise resource planning tools, Invoicing and eSignature providers. Additionally, JAGGAER’s Integration as a Service (IaaS) helps save effort and costs for IT professionals.
User reviews indicate satisfaction with the product’s capabilities and features. However, some reviewers desire the reporting features to facilitate better communication among suppliers and customers.
Best for Supplier Relations
Basware’s e-Procurement solution helps users to simplify and speed up their operations with its automation features. In addition, users can manage their supplier risks with the system’s risk monitoring features. A notable quality of this product is all of the functions offered are for simplifying and supporting the user’s relationship with their suppliers. Its open-commerce network allows users to connect and collaborate with each of their suppliers in one centralised location. The system also supports operational sourcing with capabilities like quick quotes, price requests and framework agreements. With the supplier management solution, supplier data is validated and enriched against external sources to help users ensure their company’s safety within their third-party relationships. Additional features include pricing compliance, analytics and approval capabilities.
Pricing appears to be based on users’ requirements, with information available upon request. In addition, the procurement software system’s API technology enables integrations with over 250 ERPs, including Oracle Finance, Microsoft and SAP.
Reviewers indicate satisfaction with the capabilities and integrations offered by this product, though some seem to want more options for customisation.
Best for Supply Management
Proactis’ Procurement solution allows users to manage their procurement processes throughout the procurement lifecycle. This tool has capabilities for supplier management as well as contract management, which can enable users to register, manage and communicate agreements within the system. The tool also allows users to streamline their sourcing aspects and collect and organise requirements from their end suppliers. Additionally, eAuctions, complex tender projects and quote-based purchases help users to secure the best value for their organisation’s expenditures. The supplier management solutions can help user organisations to assess potential risks and keep supplier profiles and catalogs up to date within the system. Teams using the product can save time and effort by allowing their members to use specialised software to access authorised supplier catalogs and websites for making authorised purchases.
The system has integrations with a variety of different products such as Microsoft tools, Document Management systems, and other popular industry-standard technologies.
Though some customers desire more user-friendliness from the software, most seem satisfied with its overall functionality.
Best for Contract Compliance
Oracle’s Procurement software is a cloud-based solution for organisations within the UK. The tool helps users with supplier approval, price negotiation, strategic sourcing and customer relationship management. Automated capabilities for tasks like invoice processing can save users time and effort, and alerts and risk scores help users maintain supplier safety. Contract creation is simplified as the system works with MS Word for drafting and negotiating pre-approved templates; and legal clauses with guided authoring. The Contract compliance capabilities don’t stop there, as users can compare proposed changes to standard terms to facilitate compliant contract processes. Additional features provide support with analytic insights, better customer service and improved supplier collaboration.
Before purchasing, potential customers can experience a live demo with an Oracle Cloud Procurement expert. In addition, integrations are available with other Oracle software and allow people to establish digital communities with trading partners already using the Oracle Business Network to establish electronic communications for straightforward exchange transactions.
Though a few reviewers had complaints with the search function, most users seemed pleased with the capabilities of this product.