The Buyer's Guide to the Best Eprocurement Solutions in 2022

Top 5 mid-market eprocurement software solutions

As companies grow, the early procurement processes they once relied upon can turn on them. Simple purchasing policies and spreadsheet-based tracking become unmanageable. Increased order volume takes a toll on your teams and your cost efficiency. 

As a result, many organizations are turning to procurement software solutions earlier in the journey. Procurement software offers growth-minded companies robust, modern features to meet current requirements and easy scalability to grow with the organization. 

Using eprocurement software, organizations can systematize their requisition and order process. Its automated system routes approvals for fast and transparent purchasing. With all data centralized in the system, companies harness the power of their data for better cost optimization and decision-making. It empowers organizations to maximize their purchasing power and ensure strong financial performance. 

We’ve reviewed some of the top entries in the mid-market eprocurement solutions category and found five that meet the demands of fast-growing businesses. Each tool offers flexibility for unique business needs, with enterprise-class features to speed decision-making and improve financial performance. The best offer world-class service and support to make onboarding to an eprocurement solution a welcome experience. 

1. Order.co

The Order.co platform offers a comprehensive eprocurement system to streamline the process from sourcing through invoice processing. 

The Order.co platform enables users to order and submit requisitions for the items they need through an intuitive and dynamic interface. Order.co provides curated catalogs and preferred vendor options. It speeds up decision-making and increases optimization for both cost and productivity.

For Finance teams, Order.co’s centralized spend analysis and reporting features help teams gain visibility into their spending, identify areas to improve cost, and support the procurement cycle. The procure-to-pay approach streamlines companies' order processes, empowers self-service ordering, ensures best practices for purchases, and improves overall profitability. 

While Order.co is capable of supporting clients from any market segment, small and medium-sized business users find the platform especially useful and scalable. 

Pros

• The intuitive onboarding process for Order.co is easy to navigate. Even first-time users can effortlessly order the supplies they need to keep business running smoothly. 
• Features such as automatic GL coding, spend coded to the line level, real-time, granular spend data, and a centralized pay process make the electronic procurement process more accessible and time-efficient. 

Cons

• A few users would like to see more plentiful catalog curation options during initial setup.
• While intermittent speed or loading fluctuations have been reported, the development and support teams are responsive to requests and receptive to user feedback. 

2. PRM360

PRM focuses on automating the bidding and vendor quotation process, allowing procurement teams to select best-price offers with reliable cost savings. The system makes invoice processing easier through automated notifications to maintain accounts payable in good standing and strengthen supplier relationship metrics. 

The system specializes in use cases like pharmaceutical, hospital, and infrastructure clients. PRM features include contract management, supplier management, and automation of business processes.

Pros

• As with many entries for small to medium-sized businesses, users report this eprocurement system is easy to use and intuitive for all technical abilities.
• Workflows and customization are popular features for reviewers. 

Cons

• Some users report slower load speeds and intermittent issues with notifications. For instance, ERP error notifications could be more detailed. 
• On the supplier side, some users found it difficult to reduce manual interaction with submitting bids. Single price submission is impossible as participation in the bidding process is required. 

Ebook

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3. ProcurementExpress.com

The ProcurementExpress system lets users issue purchase requisitions with specific, defined spending guidelines. It offers built-in workflows for manager review and has a mobile-friendly format that enables on-the-go approval of purchases.

ProcurementExpress integrates with financial systems such as Quickbooks, Xero, Zapier, Sage, Netsuite, and more. This enables increased visibility and integration with ERP and planning applications for better spend management. Notably, the system supports integration with Amazon PunchOut for purchasing integrations.

Pros

• Users enjoy ProcurementExpress for its fast approval transmission, ease of use, and ability to streamline the approval process from anywhere (even, for example,  when approving managers are on the road). 
• The system is designed for layman users who may not have an accounting or procurement background. 
• Admin users appreciate the system for its data management capabilities and ability to conduct periodic or year-end reporting easily. 

Cons

• Though users report some periods of temporary speed or system fluctuations, they applaud the technical and support teams for responsiveness. 
• Some users would like platform improvements such as multi-vendor ordering within a single transaction or reporting features such as Purchase Order logs. 

4. Varis

Varis is a buyer marketplace tool that makes purchasing easy and quick. Curated marketplace capabilities include existing vendors and other pre-negotiated vendor options. 

Varis is designed for the private and public sectors. It serves various customers in the education, retail, and restaurant industries. 

Varis allows companies without formal AP teams (or sometimes a single support or bookkeeping staff member) to conduct sourcing and place all their supply orders in one place. Users benefit from strategic sourcing and preferred suppliers through catalogs without the need for a formal procurement function. 

Varis also touts its supplier-side services—pre-negotiated partners build market share and improve customer acquisition through participation in the platform.

Pros

• Ease of use is listed as one of the top benefits of this platform. The UI is simple and intuitive. It’s designed around a procurement process built to suit the B2C consumer shopping experience. 
• Reviews about support calls are positive. Support is helpful and responsive.

Cons

• Search functions for products can be stiff. Exact search information is needed to find a specific product. 
• For unknown products, the images and descriptions are sometimes limited.

Ebook

Choose the Right Procurement Technology With This Decision Matrix

There are A LOT of procurement softwares out there. Make sure you're choosing the right one for your business.

Download

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5. Eyvo eBuyerAssist

With Eyvo, stakeholders with or without procurement experience have access to an eprocurement platform that increases visibility and compliance. 

The system offers competitive features such as 4-way matching, budgetary controls, approval workflows, and reporting tools to reduce maverick spending and enhance financial controls. This cloud-based eprocurement solution offers users a useful suite of features for digitizing the procurement and business process.

The GDPR and security standards for Eyvo make it a secure choice for government clients, public and private sector organizations, and non-government organizations (NGOs). The scalability offers plenty of flexibility for teams as small as three users. 

Pros

• Users of the Eyvo system consistently praise the ease of use, which allows technical and non-technical operators to order what they need.
• The system offers ways to conduct real-time budget monitoring and manage the approval process. 

Cons

• Though the platform is reported as stable and usable, some idiosyncrasies of the system could use improvement. Purchase Orders, once submitted, cannot be edited. They must be rejected and returned for changes. The ability to edit and resubmit through the system would improve the workflow. 
• Multiple users point out that reports are not downloadable into Excel formats, making it difficult to use this data in other systems (for instance, ERP systems or 3rd party reporting software). 

Final thoughts

All of the above solutions offer the right mix of features to help streamline your procurement and realize cost savings. With Order.co, you get added benefits:

• Real-time, line-level data for detailed analysis
• Automatic and accurate coding
• Dynamic rules for stronger spend control
• A flexible platform with first-class support

If you are ready to implement one of the top-rated eprocurement solutions and need the flexibility to empower your organization with dynamic budget controls, intuitive ordering interface, and enterprise-class features and support, request a demo of Order.co.