6 Best Procurement Automation Software Solutions

Procurement is a vital business function for most organizations, involving interactions with external entities for sourcing, purchasing, and managing contracts for goods and services.

According to EY, automation should be in the top 5 priorities of Chief Procurement Officers in 2024 and there are compelling reasons.

Procurement automation software is designed to drive efficiency and time savings and reduce critical procurement process errors. Managing external goods and services is a business-critical activity and having the right software in place will support the success of key projects.

In this blog, I'll showcase the top six procurement automation software solutions and provide real insights into the pros and cons of each solution to support your software decision-making process.

Let's get started.

What is procurement automation software?

Procurement automation software supports organizations to automate processes such as sourcing, invoicing, purchase orders, vendor management and contracts.

Manual methods of procurement data collection, communication and reporting such as spreadsheets, emails and paper are replaced with streamlined and automated workflows.

This leads to improved efficiency, better quality data and ultimately cost savings for the business with procurement productivity.

Top 6 procurement automation software solutions

1. FlowForma Process Automation

FlowForma Process Automation is one of the leading software solutions for procurement process automation.

Features

FlowForma Process Automation is an award-winning no code platform used by mid-size and enterprise organizations to digitalize procurement processes at speed. The platform is used by both procurement teams and IT teams to automate procurement processes in-house, no matter how complex.

FlowForma can support the automation of tasks across the full Procure-to-Pay cycle.

Common use cases:

• Creating Purchase Requisitions

• Creating Purchase Orders

• Supplier Relationship Management

• Receipt of Goods and Services

• Matching Requests to Orders to Receipts

• Vendor Management

• Supplier Management

• Automatic Documentation of Procurement Activities

FlowForma Process Automation consolidates forms, workflow, analytics, document generation and much more into one powerful platform.

Forms

A key feature of FlowForma is its form automation component. Forms support users to create digital firms that ensure data is accessible and completed correctly and accurately. A key procurement use case is automating purchase requisition requests with FlowForma's digital forms.

Workflow

FlowForma's workflow automation component empowers users to create digital business processes that replace manual tasks.

In procurement, workflow provides automatic documentation of procurement activities. This provides users with a 360-degree real-time view of procurement data for informed decision-making.

Procurement automation use cases include:

• Approval Process Workflows: Automated routing for required approvals, minimizing delays and improving process efficiency.
• Budget: Budget tracking, monitoring spending patterns and accounts payable data management.
• Purchase Order Workflows: Simplified approval workflows with automatic supplier dispatch.
• Receipt of Goods and Services: Automated workflows for quality inspections and approval.
• Supplier Management: Managing the supplier relationship, optimizing communications and tracking projects.
• Analytics: FlowForma Analytics provides real-time data on key procurement processes that support troubleshooting, forecasting and planning.

Document Generation

FlowForma Document Generation can automate the dispatch of key procurement processes such as purchase orders. Automated document generation will reduce data error, speed up processes and ensure a streamlined procurement process.

Pricing

FlowForma's pricing starts at $9 per user.

Pros

• Easy to use: FlowForma customer reviews on G2 have highlighted ease of use as one of the key unique selling points of its platform.
• Support: Feedback across multiple reviews noted the quality of customer support as one of the key benefits of FlowForma.
• No code: Customers have highlighted that the no code functionality provides fast onboarding and adoption of the platform.
• Efficient: Customers frequently report that using FlowForma Process Automation significantly enhances organizational efficiency.
• Approvals processes: customers have noted that the automated approvals process is rapid and collects collected submissions in a centralized location for better decision-making.

Cons

Features: One customer has noted that the platform could be improved by introducing new features and functionality.

2. Kissflow

Kissflow is a low code application development platform. Kissflow Procurement Cloud is designed to automate procurement processes from source to pay.

Common procurement automation use cases include:

• Strategic Sourcing

• Procure-to-Pay

• Supplier Management

• Contract Management

• Inventory Management

• Invoice Automation

• Spend Analytics

• Integration

Features

• App Development
  Users can design applications from the ground up or use pre-built templates to deploy applications.
• Process Automation
  Kissflow users can build, automate, and manage processes using a process builder application.
• Low Code Development
  Kissflow is a low-code platform which means that users need to have some coding knowledge to digitalize processes.

Pricing

Pricing starts at $1,500/month.

Pros

• Easy to use: On G2, customers have noted that the platform's intuitive interface accelerates the onboarding process.

Cons

• Customer service: Users have highlighted that there is a delay in customer responsiveness to resolving technical issues.
• Speed: Some customers have reported performance issues when Kissflow processes large data sets.
• App: One customer has noted that it cannot be downloaded for Android users.
• Integrations: Some customers have pointed out issues with integration, particularly with email integration.

3. Nintex

Nintex is a process intelligence and workflow automation platform that is applicable across multiple use cases.

Its procurement automation features are designed for the entire procurement lifecycle.

Key procurement automation use cases include:

• Vendor management and supplier management

• Purchase orders

• Approval processes

• Operating procedures

Features

• Workflow Automation
  Workflow automation software designed for a wide range of procurement processes.
• Process Mapping
  A feature designed to optimize, improve and iterate procurement processes.
• Process Discovery
  Visualize processes for informed decision-making based on process data.
• Robotic Process Automation (RPA)
  Robotic process automation for after-hours productivity improvement without the need for the human workforce.

Pricing

Pricing starts at $25,000 per year.

Pros

• Easy to use: Customer reviews of G2 have noted that the platform is relatively simple to set up, has a good interface design and the onboarding experience was positive.

Cons

• Cost: Multiple customer reviews have highlighted the cost may be a challenge for some organizations.

• Tech Support: Customers have highlighted that technical support may be lacking.

• Forms: One customer has noted that Nintex Forms are not as powerful as Power Apps.

• Documentation: Some customers have highlighted that there is a lack of documentation to support the usage of the platform.

4. Keelvar

Keelvar is an all-in-one sourcing platform focused on logistics that provides users with a wide range of price and non-price information from suppliers and automates sourcing for simpler, lower-value spend.

Key use cases include:

• Transportation and logistics

• Packaging

• MRO

• Direct materials

• Indirect materials

• Services

Features

• Automation for spot buys
  Enable end users to source directly from suppliers for spot buys.

• Scalability
  Easily manage events with 100s of line items, 10k+ suppliers and millions of bid data.

• Efficiency and tracing
  Boost agility by conducting a range of sourcing events quickly with intuitive reporting.

• Decision quality
  Reduce supply chain risk by analyzing detailed price and non-price bid inputs to make the best decision for your business.

• The right solution
  Get advanced, user-friendly and intelligent optimization and automation features not found in other generic e-sourcing tools.

• Extensible
  Easily integrate with other upstream and downstream systems via API.

Pricing

Pricing starts at $25,000.00 per year.

Pros

• User Friendly: Reviews from customers on G2, have highlighted that the platform is user-friendly and easy to adopt.

Cons

• Complexities: Customers have noted that the platform does not capture the wide range of complexities needed.
• Functionality: Customers have highlighted that the functionality can be limited and requires product development to improve available features.
• Use cases: Customers have noted that the use case of logistics is limited in their interaction with the platform.

5. Pipefy

Pipefy automates procurement workflows to boost efficiency and maximize cost savings.

Use cases include:

• Purchase process and purchase requests

• Accounts payable

• Vendor management

• Business contract management

• Request management

Features

• AI Automation
  Conserve resources and shorten SLAs by automating any manual task. Pipefy AI reads documents and extracts data to automate even complex workflows.
• AI Co-pilot
  Achieve faster results with easy-to-use automation and optimization. Pipefy AI uses natural language to quickly build workflows and generate insights.
• AI Agents
  Exceed expectations for service delivery. Pipefy AI answers common questions, centralizes information, and helps users submit and track their requests.

Pricing

Pricing starts at $26 per user, per month.

Pros

• Real-time communications: Customer reviews on G2, have highlighted the benefit of enhanced communication and collaboration from the Pipefy platform.

Cons

• Slow: Customers have highlighted the slow server speed is causing performance issues with the platform.

• Automation email: Customers have highlighted issues with the automation email and notifications from the platform.

• Features: Some customers have noted that there is little information about new product development initiatives.

• Scalability: Customers have highlighted that the platform does not scale with your increased requirements.

6. Procurify

Procurify is a purchasing and AP automation platform with multiple features to reduce costs and optimize productivity.

Use cases include:

• Spend management

• Real-time reporting

• Purchase requests

• Purchase orders

• Contract and vendor management

Features

• Purchase Requests
  Standardize and streamline the purchasing process from request to payment.
• Purchase Order Management
  Ensure proper tracking and approval of every purchase order while capturing all the information your AP team needs.
• Receiving
  Streamline the receiving process and easily verify the delivery of goods and services.
• Expenses
  Easily create and submit standardized expense requests from desktop or mobile. Accelerate reimbursement and streamline the reconciliation process.
• Contract Management
  Conveniently store contracts in a centralized contract repository and easily track current spending against total contract value.
• Budget Management
  Give the right people category-level budget visibility across all organizational spending.
• Approvals
  Shorten cycle times between requesters and approvers by routing requests to the right teams for approvals.
• Vendor Management
  Easily add vendors by completing a vendor request form that captures key information to help with vendor setup.
• Reporting
  Generate real-time reports you need to support data-driven decisions in your daily operations.

Pricing

Starts at at $1,000 per month.

Pros

• Easy to use: Customer reviews on G2 have highlighted that the tool is easy to use for tracking expenses.

Cons

• Technical issues: Some users have highlighted that the platform has technical issues and can be glitchy.
• Integrations: Customers have noted that the platform does not integrate well with other tools.
• Usability: Customers have highlighted that the platform is not as user-friendly as it could be.
• Notifications: Customers have noted that notifications can be confusing.

What should you look for in procurement automation software?

I hope so far you have got a good understanding of the different types of procurement t process automation software options in the market. But, what should you look for when selecting software for procurement process automation?

Let me break it down for you:

1. Automates repetitive tasks across the procurement team

2. Empower you to manage supplier relationships better

3. Solve approval bottlenecks

4. Provides real-time reporting for improved business operations

5. Provides seamless integration with third-party platforms

6. Has a proven track record of automating the entire procurement process

7. Offers a free trial to test automating procurement tasks

8. Can showcase the potential ROI from investing in the platform

9. Has a strong customer support reputation

10. Understand your procurement needs and have tangible process solutions to solve your challenges

Conclusion

Procurement automation software can support your organization to streamline procurement, improve supplier relationships, improve budget tracking and save time and money with improved productivity.

If you are interested in fostering stronger supplier relationships, and having your entire procurement process digitalized and ready to shortlist software vendors, join a live demo of FlowForma Process Automation for a window into the art of the possible.

Our team of process experts with showcase what you can achieve with your procure-to-pay process fully automated, streamlined and delivers the results you need to drive real transformation in procurement.