Best Procurement Software for Small Businesses & Vendors
— Ranked and Rated

Small businesses buy half a dozen new apps monthly. But is your SaaS spending more erratic than organized? If so, take a closer look at your procurement.

Procurement can feel like a marathon. Such a lengthy process might tempt you to make purchases or approvals on a whim or even put them off altogether.

It’s inevitable that, as your company grows, you will use more software. Procurement is not going away—but some solutions streamline the process and make approvals of new software or contract management more of a sprint than a marathon.

What does an effective procurement process look like?

If your company still uses outdated, informal procedures for purchasing and approving new applications, you might feel out of the loop. Let’s start afresh by breaking down the steps involved in procurement.

Some companies have a Procurement Manager or Purchasing Manager. But even with crucial personnel assigned to procurement, manual errors and cost issues can occur.

When is it time to automate your procurement software?

Procurement management software is designed to streamline the procurement process from collecting requests from employees to renewing apps that has proved their value. A centralized platform with automated workflows makes collaboration easier and saves your company money.

So, how do you know when it’s time to use automated procurement?

Imagine an employee who sends a request to your Procurement Manager for a design app. The manager quickly approves the request—they can’t see any design software on their system and the employee is starting their project next week.

However, the manager failed to see the finer details. A different design package was already approved, and a contract was signed—just yet to be paid for. This oversight led to buying two solutions, which is budget overspending and SaaS waste.

But you can get ahead of the problem. 59% of procurement leaders feel that leveraging up-to-date technology makes a difference to company performance. Procurement management is an even more critical consideration for small businesses today.

Best Practices For Small Business Procurement Management

It’s a competitive market, and it can feel like small businesses are downtrodden from every angle, particularly when it comes to procurement.

SMEs often do not have the purchasing power with suppliers that larger companies do because they lack scale or workforce.

With tight budgets, small businesses can’t afford to miss out on procurement cost savings or have lengthy negotiation discussions just to get tiny discounts.

All hope is not lost, as with the right procurement tool, your business can eliminate barriers to cost optimization and protect your profit margins.

Some of the key ingredients to look for when choosing a procurement management tool are:

• Centralization for complete visibility
• Integrations with your regular software
• Assistance with vendor management
• Ease of adoption and use
• Budgeting and cost-saving

With this in mind, it’s time to explore the top procurement solutions for your business.

10 best procurement tools

Do you need to streamline your procurement process but are unsure which tool is right for you? 

Here are the top tools currently out there, ranked by price, user-friendliness and ratings. 

Naturally, each product has useful features as well as limitations. Here is an insight into the top procurement tools to help you decide which to pick. 

1. Spendbase – Best all round for SMEs

Spendbase is the SMB procurement tool that offers automated purchasing processes and notifications to speed up approvals and get control over every purchase request. 

The platform helps companies that don’t have a full-blown procurement department by reducing the workload on IT and finance specialists hassling with software purchases based on invoices and transparency. Spendbase is an overall spend management tool for all SaaS goods and services requisition.

Spendbase’s best features

• Linear and conditional approval workflows help make sure every request follows the smoothest trajectory from submission to completion.
• Automatic notifications keep both approvers and requesters updated in real-time helping make the final decision within the due date
• Integration with Slack allows employees to submit, track, and approve requests without ever leaving their main communication tool.
• Cost savings with discounts on software and cloud services—you can save 39% on your software thanks to Spendbase’s assistance in vendor negotiations.
• Advanced supplier and invoice management features ensure seamless procurement, while powerful analytics provide insights to optimize spending.
• Seamless ERP integration streamlines processes, enhancing efficiency across the entire procurement cycle.

Pricing

Spendbase is super cost-efficient—view pricing.

Ratings and reviews

G2 – 4.7 (100+ reviews)

Capterra – 5.0

Customers say:

• Easy navigation
• Intuitive software
• Simplifies approval flows
• Invaluable cost-saving tool
• 100% decision-making confidence

2. Spendflo – Best for multiple features

Spendflo’s procurement software solution streamlines the intake-to-procure process for collaboration and accelerated procurement activities. 

They offer multiple features, including automated approvals and supplier management.

Spendflo’s best features

• Visibility through a centralized management platform
• Clear approval workflows and procurement automation
• Slack integration
• Renewal reminders

Spendflo limitations

• The number of features can be overwhelming and impractical for SMEs
• Reports are sometimes repetitive, unclear or do not allow customization
• No free trial of the service
• Costly

Pricing

A starter tier (for businesses with $250K-$400K annual SaaS spend) is $18,000 annually.

Ratings and reviews

G2 – 4.6 (100+ reviews)

Capterra – 4.7

Customers say:

• Saved valuable hours ensuring the best price for tools procured
• The dashboard could be clearer
• The turn-around to close a procurement is lengthy
• Communication from negotiation reps is not always helpful

3. Procurify – Best for accelerating approvals

Procurify is a procure-to-pay software with a purchasing and AP automation platform.

They focus on supporting operational efficiencies to allow more time for business initiatives.

Procurify’s best features

• Vendor management services
• Supply Chain Management
• Real-time updates to cost information
• Options for custom integration

Procurify’s limitations

• Categorization and search filters are not always reliable
• Orders cannot always be edited
• Reports do not always offer deeper insights into procurement trends and expenditures

Pricing

No clear price, but a free demo is suggested.

Ratings and reviews

G2 – 4.6 (200+ reviews)

Capterra – 4.5

Customers say:

• Streamlines purchasing into one platform and allows for better communication
• You can’t always see previous purchase orders when creating a new order
• Reporting features are not always robust
• Desktop vs app accessibility needs development

4. Airbase – Best for customer service

Airbase is a procure-to-pay tool that offers control, visibility and compliance for all non-payroll spend.

Airbase’s best features

• Positive customer service reviews
• Slack integration
• A streamlined, centralized platform for spend visibility

Airbase’s limitations

• Workflows (especially POs and contract payments) are not always smooth
• The approval process can be lengthy
• No free trial
• Pricing tiers mean reduced access to certain features

Pricing

No clear price.

Ratings and reviews

G2 – 4.7 (1000+ reviews)

Capterra – 4.8

Customers say:

• Streamlining saves time and the tool is easy to use
• The service is not as intuitive as expected
• There are too many approvals needed in the workflow
• Categories can get muddled

5. Pivot – Best for procurement policy

Pivot provides an end-to-end cost control management system. They target a high initial adoption of procurement policy & partnership.

Pivot’s best features

• AI real-time spending insights
• Vendor record control
• Early visibility on spending

Pivot’s limitations

• No virtual card
• Few reviews and ratings
• No free trial

Pricing

No price provided.

Ratings and reviews

G2 – 4.9 (16 reviews)

Capterra – Unrated

Customers say:

• An intuitive procurement service
• Some missing features
• Some dashboard and bug issues
• Software needs more development

6. Pluto – Best for multi-layered approval

Pluto is a procure-to-pay automated AP solution that helps businesses with better indirect procurement while purchasing software and tools like SaaS. It offers a rigorous approach with multi-layered approval. 

Pluto’s best features

• Customizable and multi-layered approval policies
• Synchronized vendor list
• Integrated accounting software

Pluto’s limitations

• The approval process can be slow due to the multi-layered approach
• Business Purchasing Card spend does not always reflect clearly on the system
• Card transaction approvals are not always accessible on the mobile app of a procurement team
• No free trial

Pricing

Free for 5 users per month.

Ratings and reviews

G2 – 4.6 (400+ reviews)

Capterra – Unrated

Customers say:

• Quick month-end close with integration, including direct procurement operations & procure-to-pay processes
• Card billing is not always clear and there are sometimes extra charges
• Approvals could be improved to allow for ease of access throughout the procurement
• More options for categorization and sub-categorization are needed

7. Vendr – Best for customizable intakes

Vendr is a procurement platform that offers visibility into business spend. They specialize in customizable intakes and conditional logic to suit your business.

Vendr’s best features

• Auto-renewal warnings
• Customization
• Cost-saving recommendations

Vendr’s limitations

• Some features are unavailable without premium paid add-ons e.g. premium intelligence for reporting and integrations
• No free trial
• Pricey

Pricing

The Starter tier is $36,000 per year.

Ratings and reviews

G2 – 4.6 (100+ reviews)

Capterra – 3

Customers say:

• Realtime alerts, insights and workflows sometimes lack rigor
• Negotiations with vendors are not always fully handled so extra involvement was needed

8. Vertice – Best for vendor benchmarking

Vertice provide visibility through a centralized platform that automates procurement. They also have a team of buyers who right-size contracts.

Vertice’s best features

• Custom negotiations with vendors
• Integrations with various apps
• SaaS insights and audits

Vertice’s limitations

• No payment card option
• No free trial
• Costly

Pricing

$30,000 a year.

Ratings and reviews

G2 – 4.5 (75 reviews)

Capterra – Unrated

Customers say:

• There are too many features – many go unused
• It’s a big time commitment to fully utilize the software and keep everything up to date

9. Omnea – Best for intelligent AI intake

Omnea uses intelligent AI intake to automate manual procurement tasks and make processes time-efficient.

Omnea’s best features

• Visibility and centralization of spend and suppliers
• Automated renewals
• Simple vendor onboarding

Omnea’s limitations

• Lack of real-time updates
• No experts on hand for negotiations
• No free trial
• Few reviews and ratings

Pricing

Not provided. Omnea recommends a demo.

Ratings and reviews

G2 – Unrated

Capterra – Unrated

10. Zip – Best for collaboration

Zip is an intake-to-pay procurement solution. It facilitates the submission of requests and collaboration on any type of procurement.

Zip’s best features

• Transparent budget and savings tracking
• AI for SaaS insights and decision-making
• Integration options

Zip’s limitations

• Various add-ons must be purchased, e.g. sourcing, global payments, vendor cards and integration platform
• Intake reporting is not always in-depth
• No free trial

Pricing

Not provided.

Ratings and reviews

G2 – 4.7 (52 reviews)

Capterra – 4.8

Customers say:

• Navigation can be difficult from one request to the next
• Loading times and integration issues sometimes occur
• Insight capabilities could be improved