Procurify vs. Order.co: Which Is Best for the Mid-Market?

What is the best Procurify alternative for mid-market organizations? Learn how Order.co does more for purchasing automation and savings in this quick guide.
Written by:  Bridey Joyce
Last Updated:  April 10, 2024
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Scalable procurement is an important priority for small and mid-market businesses handling an increasing flow of purchases and vendor agreements. Software enables data centralization and automation that helps these businesses run smoothly, regardless of size. 

The market has more software options than ever for managing procurement, and Procurify is a prominent brand within the space. Procurify has many features that support procurement for its target market. Still, it’s worth close examination to determine if it’s the best option for your organization’s size, budget, procurement processes, and needs. 

For those looking for a different mix of features, including more ways to empower users to self-service their buying process, alternatives offer additional flexibility and tools that streamline the process.

This article compares Procurify to Order.co, rated the number one Procurify alternative by Capterra. Read on to learn the key differences between these two tools so you can make the best choice for your business. 

Download the free ebook: The Procurement Strategy Playbook

What is Procurify?

Procurify is a comprehensive spend management platform that provides real-time visibility into spending across an entire organization. It is designed to help businesses across multiple industries and market segments monitor spending and manage vendors.

The Procurify spend management system runs on a cloud-based platform with automated features that enable organizations to uncover cost savings opportunities while streamlining financial processes related to procurement, expenses, and reporting. 

Procurify's suite of products is ideally suited for mid-size companies looking to take charge of their finance and operations and make smarter spending decisions. From procurement and sourcing to supplier performance management, Procurify provides a fully featured solution that gives finance and accounting teams control of their process and data. 

Who is Procurify for?

Procurify is mainly for mid-market organizations aiming to organize and streamline the spend management process. Although the features in Procurify primarily benefit these smaller businesses, it does offer integrations that allow it to scale with growing companies. However, its flat-rate pricing may exceed budgets for smaller organizations. 

Order.co: The top Procurify alternative as rated by Capterra 

Order.co and Procurify are two top procurement and spend management systems for streamlining the purchasing process. Though the two solutions have many similarities, understanding their key differences can help determine the best option for your organization. 

Read on to learn the differences between these two procurement management systems.

Onboarding

A strong onboarding process lets teams efficiently migrate data to a new platform to ensure a smooth transition from old systems. 

Procurify reports onboarding times between 4 and 6 weeks depending on complexity and the number of existing integrations within the organization. NetSuite users are advised to set aside 8 to 12 weeks for onboarding. Procurify uses a professional services model for implementation, so expect to work closely with a consultant and implementation team to bring data and integrations into the platform. 

Order.co implementation takes 2 to 8 weeks, depending on the number of vendors included in the catalog, vendor fulfillment preferences, preferred payment method configuration, and integrations. However, some organizations have implemented Order.co even faster, starting to place orders in as little as 10 days. 

Every Order.co customer is assigned a dedicated implementation consultant, account manager, and catalog specialist to guide them through the process and curate their catalog. Order. co uses a project management system and weekly check-ins to keep onboarding on track, and implementation consultants can be available whenever they’re needed. Learn more about what an Order.co implementation looks like from Lucy Therapeutics.

Training

Successful implementation relies on managers and team members learning and using the platform. For this reason, most platforms offer training materials and resources to get everyone up to speed.

Procurify offers an in-depth training resource called Procurify Academy as part of its onboarding process. The training program gets admins and users familiar with their user levels and roles. It runs through all six stages of the implementation process and is strongly encouraged to ensure users can function within the system and learn its idiosyncrasies. 

Order.co users receive comprehensive training from their implementation consultant. Order.co also holds monthly product trainings, operates an in-depth help center, and has a dedicated product training manager. Order.co’s help center contains an extensive catalog of articles that guides users through purchasing and payment workflows. For customers with large user bases, Order.co also offers personalized group training.

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Ebook

The Procurement Strategy Playbook for Modern Businesses

Download the ebook to learn how to modernize your procurement strategy and realize the benefits of tech-enabled procurement.

Download the free ebook

Purchasing

Spend management is only half the battle of overseeing procurement spend. Streamlining the purchase process for buyers makes it easier to control costs as they arise versus addressing over-budget spending and maverick spending retroactively. 

Order.co is one of the only vendor-agnostic procurement options on the market. The platform helps buyers self-service their supply needs through a curated catalog of items from the organization’s preferred vendors. As part of the implementation, Order.co uses purchasing data from every vendor and spend source, aggregating up to 6 months of spending history to create a streamlined buying experience with full budgetary controls. 

The system integrates with all of a company’s most important vendors — even those who work via phone calls or a paper PO — to take the manual work out of ordering and give teams and individuals time back in their day. Once an order moves through the internal approval process, Order.co generates and transmits the PO to the vendor, regardless of how that vendor receives purchase orders (online, on the phone, or by email). 

Order.co also makes it easier to track and manage orders across many vendors. Managers can view real-time tracking information for every purchase and vendor from within the platform. For issues after delivery, Order.co facilitates returns, credit for missing items, exchanges, and more. There’s no need for an internal stakeholder to make calls or resolve issues. Order.co’s process for manual order fulfillment and management is unique in the industry. 

While Procurify offers similar spend management and reporting functions to Order.co, it doesn’t directly facilitate procurement for organizations. First, organizations must have a dedicated individual in charge of placing orders through the system. To enable direct ordering capabilities for stakeholders, system integrations through Procurify PunchOuts are required. Not every vendor has PunchOut capabilities, so order options may be limited.

AI enhancements

Artificial intelligence and algorithmic process improvement is an exciting enhancement to the procurement process. AI is helpful for fast calculations beyond the capability of human actors, such as exploring trends and identifying patterns and outliers in large data sets.

Like many options on the market, Order.co and Procurify use AI enhancements to help procurement and finance teams work more efficiently. AI algorithms can spot inconsistencies in invoices and reporting to improve data accuracy. AI-enhanced matching and invoice error detection can automatically comb finance and procurement data like purchase orders, invoices, and fulfillment records. 

Order.co’s AI algorithm also helps users save money. To fortify the supply chain against disruptions, AI automatically helps locate either the exact SKU from another vendor or a similar product from a high-quality vendor. 

Financing and payment options

Payments processing and automation are integral to the procure-to-pay process. Procurify and Order.co offer features to automate payments, verify accuracy through invoice matching, and handle invoices of every format.

Order.co also enables organizations to grow their operations with innovative funding options that put flexibility and cash flow optimization within easy reach. Order.co’s Financial Offerings preferred advance creates up to $500,000 in direct buying power for organizations — without costly fees, interest, or belabored credit approval processes. Order.co partners with innovative companies and high-quality vendors to make procurement fast and efficient.

Procurement cards

Virtual procurement cards (virtual cards or virtual P-cards) are assigned virtual corporate spending cards that streamline the procurement process by allowing users to directly purchase supplies or services online. Virtual P-cards are convenient for buyers, allowing them to make payments quickly and easily, and they offer budgetary control for managers. Purchases made with a P-card follow the same approval workflow as other purchase requests.  

Procurify offers physical and virtual purchasing cards (P-cards) for buyers to use when ordering supplies. These virtual cards allow the finance team to capture spend data, track purchases against budgets, and ensure in-policy spend. Traditional procurement cards work in much the same way as corporate cards, with payment for services due at the end of the billing cycle.

Order.co improves upon procurement card functionality with universal net terms and consolidation through its off-catalog spend feature. Using a virtual card, buyers purchase the items and services they need. Corresponding transaction and spend data get captured like any transaction, and these purchases are eligible for extended net terms like all purchases on the Order.co platform. These purchases can also be processed through consolidated billing, so managing payment is fast and easy no matter the source of spend. Purchases are coded at the time of transaction, minimizing the lift for AP and bookkeeping teams. 

Off-catalog purchasing is a great way to maintain vendor relationships without sacrificing terms or spend visibility. It allows the buyer to handle the transaction in the way that works best, especially for vendors that choose to work through purchase orders or phone-based ordering. 

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Ebook

The Procurement Strategy Playbook for Modern Businesses

Download the ebook to learn how to modernize your procurement strategy and realize the benefits of tech-enabled procurement.

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Integrations

Both Order.co and Procurify offer a robust selection of integrations to unite data and processes across the organization, including SageIntacct, NetSuite, Quickbooks, and more. 

Order.co offers native integration with Workday Procurement to create a completely customizable procurement experience, with automation for every step of the process, including:

  • Vendor onboarding 
  • Catalog curation
  • Order fulfillment
  • Payment

The integration capabilities of Order.co allow every department within an organization to share and verify data without manual entry, duplication, errors, or frustration. These integrations also allow them to enhance the user experience of self-serve procurement while creating line-level visibility and automated general ledger (GL) coding for every transaction.

Pricing

Procurify has a flat fee for its base level of service and licenses. Additional seats and integrations are available in a customized enterprise-level plan. It’s important to note that Procurify’s base pricing does not include NetSuite integration. That level of service requires custom pricing through the Procurify sales team. 

Order.co users pay a flat monthly fee regardless of seats, business locations, integrations, or order volumes. The only additional costs are fees paid on financial products like extended net terms and capital advances.

Order.co delivers more value and functionality for your investment. The platform brings together sourcing, order fulfillment, tracking, order support, and manual order handling, in addition to the benefits of other spend management solutions.  

Why businesses choose Order.co

Businesses looking for the features and flexibility of a spend management platform with direct ordering, fulfillment, and payment functionality choose Order.co. Its complete, native procure-to-pay functionality allows organizations to curate a supply catalog of preferred items, source alternatives for backstocks, speed up the approval and fulfillment process, and streamline the payment process. 

To see how Order.co can work within your organization, request a demo today.

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