Software Alternatives, Accelerators & Startups

Precoro VS openSourceCM

Compare Precoro VS openSourceCM and see what are their differences

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Precoro logo Precoro

Precoro is a robust procure-to-pay system for your business. Automated purchasing, simple sourcing and spend analytics โ€” all in one easy-to-use platform!

openSourceCM logo openSourceCM

Web-based legal document processing and contract management
  • Precoro Mobile App (IOS & Android)
    Mobile App (IOS & Android) //
    2024-05-30
  • Precoro Dashboard
    Dashboard //
    2024-05-30
  • Precoro Purchasing documents
    Purchasing documents //
    2024-05-30
  • Precoro Approval workflow
    Approval workflow //
    2024-05-30
  • Precoro Budgeting
    Budgeting //
    2024-05-30

  • Approve documents 2,5x faster from any device using email or Slack notifications. Streamline approval workflow by adding as many steps as you need and assigning specific roles for colleagues.

  • Save up to 19% of your purchasing budget. Track discounts and never spend more than planned. Increase cash flow transparency by monitoring corporate expenses (including reimbursements). Get clear analytics and insightful reports to plan your procurement strategy more thoughtfully.

  • Reduce manual data entry. Create, approve and track POs just in a few clicks or transfer your orders from Amazon Business via Punch-in. Manage suppliers, item catalogs, inventory, and more within one platform.

  • Connect Precoro with your ERP and other business tools using ready-made integrations (NetSuite, QuickBooks, Xero) or a free API. Forget about duplicated payments and manual document matching.

  • Keep all your data secure with SSO and reliable 2-factor authentication.

  • Available for both iOS and Android devices, the Precoro mobile app brings key aspects of your procurement workflow into the palm of your hand.

Precoro's user-friendly interface lets you forget about complex onboarding and long-lasting training. You'll get advisory and support from your CSM anytime you need it. Precoro grants you access to all features and updates regularly.

Sincerely yours, Precoro team

  • openSourceCM Landing page
    Landing page //
    2023-06-18

Precoro

$ Details
paid Free Trial $499 / Monthly (for "Core" package)
Platforms
Web Browser Windows Android iOS Google Chrome Mac OSX Firefox Linux Safari Cloud Chrome OS Opera
Release Date
2015 January
Startup details
Country
United States
State
New York
City
Brooklyn
Founder(s)
Andrew Zhyvolovych
Employees
100 - 249

Precoro features and specs

  • Purchase Requests
    All the requests in one place. Clear statuses. Streamlined approval workflow. Ecommerce experience with a product catalog. Request analytics.
  • Purchase Orders
    Automatic Purchase Order creation. Instant conversion of Requests into Orders. Automatic supplier sending. File attachments, PO export. Internal comments.
  • Approval Workflow
    Customisable approval workflow. Approvals on locations, departments, custom fields. Smart notifications. Thresholds and policies for a precise routing. Mobile on-the-go approvals.
  • Budget management
    Budget for locations, departments, custom fields. Automatic budget limits Insightful reports. Real-time budget control with a progress bar. Bulk upload and management.
  • Reporting
    Three types of report: visual, standard and custom. 20 filters for precise reports. 2-click access to the real-time data. 120+ customizable fields for custom reports. Export into your accounting software.
  • Integrations
    No more manual data entry for accounting teams. Two types of integration: automatic and flat-file Integrate with QuickBooks Online, Xero, NetSuite, etc. Purchase Orders, Invoices, Suppliers and Statuses matched. Automatic field matching for flat-file integration.
  • Inventory Tracking
    Warehouse management. Stock tracking. Good receipts for the warehouse. Stock requests and approvals. Stock transfers.
  • 3-way matching
    Purchase Order <-> Receipt <-> Invoice โ€ฆ all matched in real time. Discrepancy tracking. Supplier's invoices tolerance rates. Customisable exceptions and additional workflows. Order revision.
  • Supplier Management
    Suppliers Portal. Infinite product catalog. Contract Management Reports on supplier performance. Suppliers list and contact storage.
  • User Management
    User access restrictions. Multiple countries, various currencies, and all your offices in one account. Single Sign-On with PingOne, Azure AD, OKTA, Keycloak. 2-factor authentication. No training required.
  • Reimbursement management
    The Expenses module allows you to cover requests for reimbursement of spent money and corporate expenses.
  • Mobile App
    Available for both iOS and Android devices, the Precoro mobile app brings key aspects of your procurement workflow into the palm of your hand.

openSourceCM features and specs

  • Cost-effectiveness
    As an open-source contract management tool, openSourceCM can be more budget-friendly compared to proprietary software, reducing licensing fees and long-term costs.
  • Flexibility
    openSourceCM provides the ability to tailor the software to specific needs and requirements, granting users the freedom to modify and improve the system.
  • Community Support
    The open-source nature fosters a community of developers and users who can contribute to the codebase, provide support, and share best practices.
  • Transparency
    With open-source software, users have access to the source code, offering better understanding and transparency of how the software works.
  • No Vendor Lock-in
    Users are not tied to a specific vendor for support or customization, providing greater independence and flexibility in software management.

Possible disadvantages of openSourceCM

  • Technical Expertise Required
    Implementing and customizing openSourceCM may require significant technical skills and knowledge, which can be a barrier for organizations without adequate IT resources.
  • Limited Official Support
    As with many open-source solutions, official support could be limited compared to proprietary solutions, often relying on community forums and documentation.
  • Potential Security Risks
    Open-source software can be more vulnerable to security exploits if not properly maintained, as the source code is openly available for scrutiny.
  • Integration Challenges
    Integrating openSourceCM with other enterprise systems and software might pose challenges and require additional development and customization effort.
  • Variable Quality
    The quality of open-source contributions can vary, leading to potential stability and reliability issues if not thoroughly vetted and tested.

Analysis of Precoro

Overall verdict

  • Overall, Precoro is well-regarded as a reliable and efficient tool for businesses seeking to optimize their procurement processes and enhance spend management.

Why this product is good

  • Precoro is considered a good procurement and spend management solution because it offers features such as purchase order management, invoice processing, and budget tracking. It is designed to streamline procurement workflows, improve transparency, and control over spending. Users appreciate its user-friendly interface, real-time analytics, and customizable reporting features that enhance decision-making.

Recommended for

    Precoro is recommended for small to medium-sized businesses and organizations that need to automate their procurement processes, improve cost control, and enhance transparency in purchasing and spending. It is suitable for companies across various industries looking for a scalable solution to manage their procurement activities efficiently.

Analysis of openSourceCM

Overall verdict

  • OpenSourceCM is generally well-regarded for its functionality and ease of use. However, like any software, it may have limitations depending on the specific requirements of a business. Overall, it is considered a good option for those seeking an open-source contract management solution.

Why this product is good

  • OpenSourceCM is considered beneficial because it provides a comprehensive contract management solution that is scalable and customizable for various industries. It offers features such as automated workflows, document management, and compliance tracking, which help organizations streamline their contract management processes. Users appreciate its user-friendly interface and robust customer support. Additionally, being an open-source platform, it allows for greater flexibility and adaptability to meet specific business needs.

Recommended for

    OpenSourceCM is recommended for small to medium-sized businesses, legal teams, procurement departments, and organizations that require an open-source solution for contract lifecycle management. It is ideal for those who need a customizable platform and value strong customer support and community engagement.

Precoro videos

What is Precoro?

More videos:

  • Demo - Streamlined approvals, smart budgeting and expense tracking, automated PR and PO processing โ€” all in one procurement software. Precoro is simple to use, fast to implement. Enjoy a broad range of features, including integrations with NetSuite and Quickbooks, and free API. Get total security with SSO and reliable 2-factor authentication, and gain transparency of the procurement process through automated reporting. All features are available in all plans. There are no hidden fees or complicated pricing tiers.

openSourceCM videos

openSourceCM - The Better World Initiative (BWI)

Category Popularity

0-100% (relative to Precoro and openSourceCM)
Procurement And Purchasing
Office & Productivity
0 0%
100% 100
Small Business
100 100%
0% 0
Project Management
0 0%
100% 100

User comments

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Reviews

These are some of the external sources and on-site user reviews we've used to compare Precoro and openSourceCM

Precoro Reviews

  1. Andrii
    ยท co-founder at Effy ยท
    PRs, POs, invoices, vendor catalog - all in one system

    We can track each purchase order, who created it, and why. They are no longer lost, and we can always see the history. The dashboard allows us to monitor information about all essential documents and at what stage they are now and keep track of which invoices have not yet been paid or partially paid. By setting up budgets for each department, we can effectively plan the allocation and prevent overspending. The system is very flexible and convenient. I can't imagine my work without it.

    ๐Ÿ Competitors: Procurify
    ๐Ÿ‘ Pros:    Reimbursement management|Purchase order management|Supplier management|Financial reporting|Handy dashboard|Ease of use
    ๐Ÿ‘Ž Cons:    I'm satisfied with the way precoro handles its task. there are a few things that could be automated. for example, editing multiple pos at once
  2. dkulaksyz
    ยท PM at Stripo Inc ยท
    Easy onboarding and great value for money

    I easily plan budgets for each project, promptly track spending, and create custom reports. Precoro allows doing this in 2 clicks. All suppliers and items are in one place, so purchase requests and orders are quickly created without errors. Precoro is a cloud-based tool, so I can use it from any device as long as I have internet. This greatly speeds up approval time and helps me keep everything under control no matter where I am.

    ๐Ÿ Competitors: Procurify
    ๐Ÿ‘ Pros:    We'll never go back to excel spreadsheets again. one solution meets all our needs and even more. visible approval workflow, budget section for each department, custom reporting fields, and item catalog make purchasing very easily manageable.
    ๐Ÿ‘Ž Cons:    Nothing, everything that becomes an issue is easily taken care of by their customer success team.
  3. Amy
    ยท Operations Manager at Expandi ยท
    Very helpful software, easy to use!

    Each employee has access to Precoro at least for purchase requisition creation. This is very convenient because the budgets of each department are visible to their employees. Attachments and comments can be added to the requisitions, and items are added directly from the loaded catalog. All subsequent docs (from purchase order to receipt) are created automatically, significantly saving time. All statuses can be tracked in real-time and are always correct. The approval process is customizable; creating 1 or more stages to comply with the company's rules is possible.

    ๐Ÿ Competitors: Procurify
    ๐Ÿ‘ Pros:    High level of adaptation to the specific processes of each company or department|Customer support team to help set up processes, conduct employee training, and solve all related issues.|Saving time for all employees by automating and speeding up the ordering process|Precise cost analytics for efficient planning and budget management|Improved communication with the finance department
    ๐Ÿ‘Ž Cons:    We didn't have the option to add attachments when creating a vendor, but precoro fixed that in the last update.

Top 9 Procurement Tools for SMBs (2024)
Moreover, Precoro improves your purchasing system by improving your approval workflow. Workflow stages such as request process, purchase orders, approval, billing, and invoice management can be done electronically with this tool.
Source: geekflare.com
10 Best Procurement Management Software Tools in 2023
Precoro comes with a lot of features for requesting, approving, ordering, contract management, and controlling procurement. Precoro is totally customizable and you have the freedom to automate just about anything. ๐Ÿค–
Source: clickup.com

openSourceCM Reviews

We have no reviews of openSourceCM yet.
Be the first one to post

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