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Is your organization struggling with manual SaaS procurement? It's common - up to 38% of enterprise software is wasted due to inefficient practices (1E report).
Manual SaaS purchasing process can be overwhelming. Once the procurement request is raised, the teams have to chase every individual stakeholder for approval. This can be time-consuming and counterproductive.
SaaS procurement involves a series of processes. This includes requirements gathering, budget analysis, duplication check, RFP creation, etc. All these are before entering into the actual purchase negotiation with vendors.
So, managing all these steps manually can be overwhelming for your team. That's why leveraging procurement automation software will simplify the process and save time and effort.
These tools offer features that streamline the entire process. With automation, you gain clarity and control over your SaaS purchases.
However, choosing the right software is crucial. So, read on as we explore the eight best procurement automation software for streamlining SaaS purchasing.
What is Procurement Automation?
Procurement automation refers to the approach of using automation and pre-built workflows to streamline an organization's procurement process.
Procurement automation software can automate manual processes like getting stakeholder approval, creating an RFP, performing competitive analysis, spend analysis, invoice processing, contract management, etc.
Imagine your purchases flowing smoothly with no bumps or delays. That's what procurement automation does for you.
So, instead of drowning in paperwork and manual tasks, you can relax and let automation do the work for you.
What Is Procurement Automation Software?
Procurement automation software is a tool for managing and streamlining purchasing processes through workflows and strategic sourcing techniques.
It simplifies tasks like ordering, invoicing, and vendor management. By automating these tasks, you can save time, reduce errors, and improve efficiency in your procurement operations.
Five Benefits of Procurement Automation
1. Increased Efficiency and Productivity
When you automate repetitive tasks like getting approvals, creating purchase orders, and creating invoices, you free up your procurement team to focus on more strategic initiatives.
2. Improved Accuracy and Reduced Errors
Manual procurement management can lead to mistakes and delays. Procurement automation software helps automate the process. It provides complete visibility and ensures consistency, minimizing errors and streamlining processes.
3. Enhanced Visibility
The software offers real-time data and insights into purchase requests. Requesters can see the progress in real time, which also increases accountability.
4. Strengthened Supplier Relationships
Automation helps improve communication and collaboration with vendors. It helps streamline the onboarding process, track performance, and enable easier order placement, fostering stronger supplier relationships.
5. Faster Approval Times
Automated workflows in procurement software solutions automatically route purchase requests to the right stakeholders. It eliminates delays and speeds up the procurement process.
Top 8 Procurement Automation Software in 2024
1. CloudEagle
CloudEagle is your ultimate solution for automating procurement processes. As a SaaS management and procurement solution, CloudEagle helps simplify and streamline the purchasing process, ensuring you acquire suitable applications without any delays.
It is one of the few procurement automation software programs that offers platform and service features. The platform can automate SaaS buying using workflows, and negotiation services are available to assist with the negotiation process.
With CloudEagle, the entire process is automated, from requirement gathering to getting approvals and submitting RFP. This helps save your team time and boost productivity.
Here's how it works:
- Purchase request: Users raise purchase requests. There are customizable intake forms that you can configure for both software and hardware purchases.
- Automated workflow: The respective workflows will be triggered automatically.
- Stakeholder notifications. Relevant stakeholders receive alerts via email, Slack, etc.
- Task completion. Each stakeholder will review the request and either approve or deny it. Users can check the progress of the requests in real time.
- Procurement process: Once tasks are completed, the procurement team creates a negotiation plan and heads to the next step.
CloudEagle ensures purchase order processing flows smoothly without any manual intervention. Its customizable intake forms and requests, pre-defined workflows, and instant notifications simplify the entire process.
CloudEagle prioritizes transparency and accountability. You can effortlessly assign tasks to different team members and track their progress. The platform provides complete visibility into the process flow and enhances accountability across the board.
Key Features
Customizable intake forms and requests: Tailored intake request forms and requests to fit your specific requirements. This ensures that the information gathered aligns perfectly with your procurement needs.
Pre-defined workflows: Streamline your entire procurement process with ready-to-use workflows designed to automate and optimize every step, from request submission to purchase completion.
Instant notifications and alerts: They inform you in real time with instant notifications and alerts delivered via email, Slack, or other channels. This ensures you take timely action on important procurement tasks.
Assisted buyers: Receive negotiation, vendor research, and price benchmarking assistance, leveraging expert insights to make data-backed decisions and secure the best deals for your organization.
Vendor research: Access comprehensive vendor research data to evaluate potential suppliers, compare their offers, and select the best fit. This selection is based on factors like pricing, features, and reputation.
The vendor research has features like side-by-side comparison, prioritization based on industry, research on new potential vendors, and displaying relevant reviews to help you simplify your search process.
Renewal management: This feature helps simplify the SaaS renewal process. It extracts contract renewal dates, creates a calendar, and sends timely alerts to your team.
CloudEagle's experts can also assist with negotiations, leveraging price benchmarking data to optimize your contracts and save costs.
Other Features
CloudEagle has other features like price benchmarking data and app usage insights, enabling procurement teams to negotiate better and save more.
With CloudEagle, you can shorten the purchase cycle, streamline SaaS buying and renewal processes, and offload vendor negotiations. You can also use it to purchase both software and hardware products.
CloudEagle also simplifies inventory management and software evaluation with its extensive research capabilities, allowing you to choose the right vendor without exhaustive research.
With CloudEagle, you can present pros and cons to your business partners, analyze features, compare pricing, and find the perfect vendor within your budget.
Pricing
Starter Plan: This plan starts at $2,000/month. It suits small businesses and has essential features like 300+ app integrations.
Growth Plan: This plan starts at $3,000/month. It is ideal for medium-sized companies with additional functionalities like self-service access requests.
Enterprise Plan: This plan starts at $4,000/month. It is tailored for large enterprises and has advanced features like SaaS research modules + consulting and dedicated support.
2. Productiv
Productiv is your go-to solution for quick, easy, and cost-effective procurement automation. It allows you to configure automated intake and renewal processes effortlessly.
Improve collaboration by aligning stakeholders and setting up data-driven reviews and approvals across departments. Plus, assess vendors effectively with Productiv's insightful intelligence.
Leverage Productiv's customizable reporting tools to track spending patterns and identify cost-saving opportunities, enhancing procurement efficiency.
Also, streamline vendor communication through automated notifications and seamless integration with supplier databases for enhanced decision-making.
Key Features
Automate processes. Streamline your procurement processes by automating tasks such as intake and renewal, saving time and reducing manual effort.
Align stakeholders. Aligning stakeholders from various departments ensures smooth collaboration and improves communication and coordination throughout the procurement process.
Assess vendors. Evaluate vendors effectively by leveraging Productiv's insightful intelligence, enabling you to make data-backed decisions based on data-driven insights.
Pricing
Visit them now to get a demo and pricing.
3. Torii
Torii is your key to simplifying renewals and gaining negotiating power in procurement. It ensures you never miss a renewal deadline with a dynamic calendar, unified insights, and automatic reminders.
It helps you maximize your procurement efficiency by offering comprehensive analytics to track spending trends, identify cost-saving opportunities, and optimize vendor negotiations.
You can also streamline contract and purchase order management through centralized data storage and automated alerts for seamless procurement operations.
Gain insights into your app portfolio, stay updated on renewals, and negotiate effectively with Torii's powerful features.
Key Features
App Portfolio: Get a comprehensive view of your app portfolio, uncovering all the SaaS applications within your organization.
Updates on renewal: Stay informed with timely updates on renewal deadlines, ensuring you never miss an opportunity to optimize your software subscriptions.
Negotiations: Negotiate confidently with up-to-date usage, license, and benchmarking insights. These allow you to secure the best deals and maximize cost savings.
Pricing
The plan starts at $2.5/month/employee.
4. Vendr
Vendr helps you streamline procurement, offering an easy and enjoyable process for managing costs effectively. Its features empower you to control spending and optimize supplier relationships effortlessly.
Its intuitive dashboard provides real-time insights into spending patterns and supplier performance. You can seamlessly track orders, manage contracts, and analyze vendor data to make informed decisions.
Also, you can simplify budget management and enhance cost control through Vendr's user-friendly interface and customizable reporting tools.
Key Features
Intakes: Create a central hub for purchase requests, gaining early visibility into all business spending and ensuring a streamlined process.
Approval workflows: Simplify approval processes with centrally orchestrated workflows, driving transparency and saving time for all stakeholders.
Renewal management: With Vendr, you can stay ahead of software renewals, eliminating wasted spending caused by missed deadlines and ensuring the continuity of essential services.
Supplier management: Establish a single source of truth for supplier relationships, contracts, and spending. This helps you better manage and optimize supplier partnerships.
Pricing
Contact them to request a demo and pricing.
5. Spendflo
Spendflo is your go-to solution for procurement automation, saving costs and time. It allows you to focus on high-value tasks. Spendflo helps build a unified procurement system when you use it, maximizing savings by up to 30%.
Boost your procurement efficiency with Spendflo's advanced analytics and reporting tools, providing real-time insights into spending patterns and vendor performance.
Spendflo helps you with vendor negotiations and contract management through its automated alerts and centralized data storage.
Additionally, it helps enhance collaboration across departments with customizable workflows and approvals, ensuring seamless procurement operations.
Key Features
Invoice processing: Automate invoice handling to save time, improve accuracy, and ensure timely payments, benefiting buyers and sellers.
Procure-to-pay automation (P2P): Streamline P2P processes by automating payment and invoice processing, enhancing overall efficiency.
Spend analysis: Gain real-time visibility into spending habits and trends, enabling informed resource allocation decisions and improving efficiency.
Contract management: Automate contract management with a centralized repository, simplifying creation, negotiation, approval, and monitoring processes. These help reduce errors and ensure compliance.
Pricing
The pricing starts at $1,500/month, which is billed annually.
6. Kissflow
Kissflow is your go-to solution for procurement order automation. It increases efficiency, accuracy, transparency, collaboration, compliance, and security.
With some great features, Kissflow empowers you to make data-driven decisions and streamline your procurement processes effortlessly.
Unlock the full potential of your procurement operations with Kissflow's advanced offerings, including customizable workflows, real-time reporting, and seamless vendor management.
Simplify budget tracking and cost control with user-friendly tools and enhance collaboration across departments with intuitive approvals and notifications.
Kissflow's secure data storage and robust compliance features also ensure a compliant and secure procurement process.
Key Features
Spend insights: Instantly access self-service spend insights to make informed, data-driven decisions and optimize your procurement strategy.
Custom reports: You can arrange, hide, and display data based on your priorities and business needs. This enables you to tailor reports to suit your requirements effectively.
Timely reminders: Use automated alerts to identify bottlenecks, errors, and delays in procurement order approvals. It ensures you meet deadlines and run processes smoothly.
Pricing
The pricing starts at $2,499/ month and is billed annually.
7. Procurify
Procurify is your go-to solution for automating procurement tasks and optimizing the procure-to-pay cycle. It saves your business significant time and money. Procurify empowers you to streamline and control your spending effectively.
Procurify's intuitive platform offers real-time insights into purchasing trends, budget tracking, and supplier performance.
Automated workflows allow you to seamlessly manage purchase orders, track deliveries, and streamline approvals. Transparent communication channels enhance supplier collaboration, and data-driven analytics improve decision-making.
Key Features
Mobile accessibility: Access Procurify anytime, anywhere, using your mobile device. This ensures you stay connected and control your procurement processes on the go.
Integrations with accounting systems: Seamlessly integrate Procurify with your existing accounting systems. This will ensure smooth data transfer and synchronization, reducing manual effort and errors.
Fast onboarding and implementation: Get up and running with Procurify quickly and effortlessly, thanks to its user-friendly interface and intuitive design. This helps minimize disruption to your business operations.
Pricing
Contact them to get tailored pricing.
8. Zluri
Zluri is your go-to solution for specialized SaaS buying services. It streamlines every procurement cycle step and is an invaluable ally for efficient software purchasing and implementation.
By thoroughly analyzing your software needs, Zluri empowers you to make strategic decisions with transparency and trust.
You can optimize your procurement strategy with Zluri's tailored approach, as they provide personalized recommendations based on your specific software requirements.
Simplify vendor selection, negotiation, and contract management through Zluri's expert guidance and data-driven insights. Enhance cost-effectiveness and efficiency in software procurement by leveraging Zluri's comprehensive analysis and industry expertise.
Key Features
Requisition management: Efficiently manage and track procurement requests from various departments within your organization.
Create, submit, and approve requisitions seamlessly and automate the process for increased efficiency.
Supplier management: Centralize information about vendors and suppliers, including contact details, performance metrics, and compliance data.
Foster effective communication, evaluation, and supplier collaboration for better procurement outcomes.
Purchase order (PO) generation: Automate the creation and processing of purchase orders, ensuring accuracy and reducing manual errors.
Align procurement activities with organizational policies and maintain consistency throughout the procurement process.
Pricing
Book a demo to get tailored pricing now.
For insights into modern procurement best practices and managing vendor relationships, listen to Nayive Martinez, Global Procurement Manager at Bolt. She discusses essential negotiation tactics, spend categorization, and the significance of building trust with vendors to ensure successful collaborations.
Conclusion
Procurement automation is crucial for streamlining SaaS purchases, saving time, and maximizing efficiency. CloudEagle stands out as the best option, offering seamless automation and comprehensive negotiation services.
If you'd love to simplify your SaaS procurement process, book a demo with CloudEagle today! Take control of your purchases and unlock the benefits of automation for your business.
Don't miss out on the opportunity to optimize your procurement workflow and achieve greater success.
Frequently Asked Questions
1. What is the best software for procurement management?
CloudEagle is the best procurement management software. It simplifies the process, saves time, and maximizes efficiency. With CloudEagle, you can effortlessly streamline your purchases and achieve better results.
2. Can e-procurement help to streamline the buying process?
Yes, e-procurement can streamline the buying process. It automates tasks, reduces paperwork, and speeds up transactions.
3. What is SaaS procurement?
SaaS procurement is the process of acquiring SaaS applications for your business needs. It involves selecting, purchasing, and managing cloud-based software solutions to fulfill specific requirements.
