Home > Procurement Software > Basware > Basware vs Precoro

Basware vs Precoro

Last Updated: November 18th, 2024

Our analysts compared Basware vs Precoro based on data from our 400+ point analysis of Procurement Software, user reviews and our own crowdsourced data from our free software selection platform.

Overview Pricing Benefits & Features Analyst Ratings Comparison Charts User Ratings Analyst Summary Screenshots

Get Free Demo Demo Request Pricing Pricing

Product Basics

Basware offers networked source-to-pay tools, e-invoicing, analytics and value added services. It facilitates automated operations and management, spend and supply chain visibility, supplier management, early payment discounts and more. It helps reduce paperwork, save time and effort spent in manual work, boosts working capital and enhances business ROI. It serves B2B companies of all sizes and industries.

Precoro is a comprehensive software solution designed to streamline procurement processes for businesses. It is particularly well-suited for small to medium-sized enterprises looking to automate their purchasing, expense management, and supply chain operations. One of the key benefits of using Precoro is its ability to reduce manual work and errors, thereby saving time and improving efficiency. The software is popular for features such as automated purchase orders, real-time budget tracking, and customizable approval workflows, which collectively enhance the procurement process. When compared to similar products in the market, users often highlight Precoro's user-friendly interface and responsive customer support as distinguishing factors. Pricing for Precoro typically follows a subscription model, with costs varying based on the number of users and the specific features required by the business. This flexible pricing structure allows companies to scale the software according to their needs and budget.

$15,000/Invoice Transaction, Annually

Free Trial is available →

Get a free price quote

Tailored to your specific needs

$35/User, Monthly

Free Trial is available →

Get a free price quote

Tailored to your specific needs

Small

Medium

Large

Small

Medium

Large

Windows

Mac

Linux

Android

Chromebook

Windows

Mac

Linux

Android

Chromebook

Cloud

On-Premise

Mobile

Cloud

On-Premise

Mobile

Product Assistance

Documentation

In Person

Live Online

Videos

Webinars

Documentation

In Person

Live Online

Videos

Webinars

Phone

Chat

FAQ

Forum

Knowledge Base

24/7 Live Support

Phone

Chat

FAQ

Forum

Knowledge Base

24/7 Live Support

Product Insights

Eliminates Paperwork: Reduces paperwork by digitizing all operations starting from point of order placement to payment.
Increases Visibility: Offers complete visibility for spend, suppliers, buyers and the supply chain.
Saves Time and Effort: Streamline work using AI and machine learning, which help automate manual tasks such as invoicing, account payable management and other day-to-day tasks.
Boosts Working Capital and Cash Flow Visibility: Improves the flow of payments through early payment discounts offered to suppliers for releasing payments quickly. Adoption of e-invoices improves cash flow visibility.
Strengthens Supplier Relationships: Offers tools for supplier registration, pre-approved workflows and questionnaires to evaluate supplier performance management and help improve relationships with suppliers.

Cost Reduction: Precoro helps businesses significantly cut down on unnecessary spending by streamlining procurement processes, ensuring that every dollar spent is accounted for and optimized for the best value.
Time Savings: Automating routine procurement tasks with Precoro frees up valuable time for your team, allowing them to focus on strategic decisions rather than getting bogged down in paperwork and manual processes.
Enhanced Transparency: With centralized tracking of purchases, approvals, and budgets, Precoro offers unparalleled visibility into your procurement operations, making it easier to identify and address inefficiencies.
Improved Compliance: Precoro's built-in controls and audit trails ensure that procurement activities comply with internal policies and external regulations, reducing the risk of financial penalties and reputational damage.
Better Supplier Management: By consolidating supplier information and interactions in one place, Precoro makes it easier to manage relationships, negotiate better terms, and evaluate performance, leading to more strategic partnerships.
Streamlined Approval Processes: Precoro automates the approval workflow, ensuring that purchases are reviewed and approved by the right people in a timely manner, thus speeding up the procurement cycle.
Increased Financial Control: With real-time budget tracking and reporting features, Precoro gives businesses the tools they need to manage their finances more effectively, preventing budget overruns and improving fiscal responsibility.
Scalability: Whether you're a small business looking to grow or a large enterprise seeking efficiency, Precoro's flexible platform scales with your needs, ensuring that your procurement processes evolve in line with your business.
Data-Driven Decisions: Precoro's comprehensive reporting and analytics tools provide actionable insights into your procurement activities, helping you make informed decisions that drive business success.
User-Friendly Interface: Designed with the end-user in mind, Precoro offers an intuitive interface that makes it easy for anyone in your organization to adopt and use, regardless of their technical expertise.
Integration Capabilities: Precoro seamlessly integrates with a wide range of ERP and accounting systems, ensuring that procurement data flows smoothly across your business systems, enhancing operational efficiency.
Mobile Accessibility: With Precoro's mobile app, users can manage procurement tasks on the go, ensuring that business continues uninterrupted, no matter where they are.
Customization Options: Precoro offers a variety of customization options, allowing businesses to tailor the software to their specific procurement processes and requirements, ensuring a perfect fit for their operations.
Exceptional Customer Support: Precoro prides itself on providing top-notch customer support, with a dedicated team ready to assist with any questions or issues, ensuring a smooth and successful implementation and usage.

Procure-to-Pay: Offers automation for several features including point of order, purchasing, receiving and payments, accounting and more.
- Analytics: Provides access to spend and helps identify opportunities, optimize cash flow and make strategic, data-driven decisions.
- AI and Machine Learning: Replaces manual tasks, captures invoices, performs data extractions, saves time and reduces the probability of errors.
- Support Services: A customer care team of dedicated support specialists assists with identifying and resolving issues, as well as modifying business processes. Other features include customer service management that enables continuous improvements in organizational processes and offers several supplier enablement tools.
- Source-to-Pay: Supports strategic contract lifecycle management and sourcing to strengthen vendor relationships along with negotiation stages. Also offers electronic purchase requisition procurements, validation of invoice receipts and discount management on early payment.
AP Automation:
- Discount Management: Several tools support supplier activation, automation, analytics and dynamic discounting to carry out discount management with ease.
Network:
- E-Invoicing for Buyers: Connects users with suppliers to let them share invoices electronically. Receive invoices in any format such as XML, EDI, PDF or paper, which the solution converts to deliver as an electronic invoice.
- E-Invoicing for Suppliers: Receive POs and share invoices with buyers electronically. Ensures compliance and global operations. Improves transaction status visibility and timely payment performance.
- Network Interoperability: Provides open network interoperability with 220+ e-invoicing network partners globally. Includes country-specific networks as well.
E-Procurement:
- Marketplace: Connect with suppliers through punchouts and catalogs to facilitate guided purchasing, e-procurement, price negotiations, supplier collaborations and more.
- Strategic Sourcing: Helps conduct and manage electronic auctions, collect, store and evaluate supplier information, manage projects and contracts, and onboard suppliers easily and quickly.
Supplier Management: Enables centralized visibility over supplier information, with automated updating in real time. Includes end-to-end visibility for each supplier’s performance and facilitates timely receipt of payments.
Working Capital: Leverage automated and integrated visibility into spending, a variety of discount programs for receipt of early payments, dynamic discounting and more.
Travel and Expense Management: Submit travel plans for approval before reservations and capture, claim and take actions on submitted expenses and reports at any time via the mobile app.

Purchase Request: Manage all the requests in a single platform, clear statuses and analyze requests. Also provides e-commerce capabilities with catalogues.
Purchase Orders: Automate the creation of purchase orders, attach files and export POs. Instantly convert requests into orders and leave comments on POs to pass information.
Approval Workflow: Customize based on departments and locations, and receive instant notifications. Approve on a mobile phone and set thresholds and policies for routing.
Budget Management: Create budgets for departments, locations and other custom fields. Automatically set budget limits, manage bulk uploads, control budget in real time with the help of a progress bar and get data-based reports to make informed decisions.
Reporting: Includes standard, visual and customized reports for access to real-time data and filters for more precise reports. Allows exporting to accounting software.
Integration: Get automatic integration and match fields automatically for flat-file integration. Integrate with Xero, NetSuite, QuickBooks and more.
Inventory: Offers warehouse management, stock tracking and stock transferring. Get receipts for goods in the warehouse and manage stock requests and approvals.
Three-Way Match: Match POs to receipts and invoices, track discrepancies, customize additional workflows and exceptions, and manage order revisions.
Supplier Management: Create and manage a suppliers portal and suppliers list. Set up infinite product catalogs, manage contracts, store contacts and receive reports on supplier performance.
User Management: Restrict user access, use two-factor authentication and manage multiple currencies, offices and countries in a single account.

Product Ranking

#6

among all
Procurement Software

#22

among all
Procurement Software

Find out who the leaders are

Analyst Rating Summary

we're gathering data

100

Show More Show More

Analyst Ratings for Functional Requirements Customize This Data Customize This Data

Basware

Precoro

+ Add Product + Add Product

88%

12%

88%

12%

100%

70%

10%

20%

100%

89%

11%

we're gathering data

N/A

we're gathering data

N/A

we're gathering data

N/A

80%

20%

we're gathering data

N/A

we're gathering data

N/A

we're gathering data

N/A

57%

43%

we're gathering data

N/A

we're gathering data

N/A

we're gathering data

N/A

100%

90%

10%

80%

20%

92%

80%

20%

38%

62%

30%

92%

80%

20%

67%

33%

83%

17%

50%

71%

29%

54%

15%

31%

Analyst Ratings for Technical Requirements Customize This Data Customize This Data

67%

33%

67%

33%

100%

User Sentiment Summary

85%

of users recommend this product

Basware has a 'great' User Satisfaction Rating of 85% when considering 289 user reviews from 4 recognized software review sites.

95%

of users recommend this product

Precoro has a 'excellent' User Satisfaction Rating of 95% when considering 264 user reviews from 5 recognized software review sites.

n/a

5.0 (1)

4.0 (110)

4.6 (43)

n/a

4.8 (164)

3.9 (22)

4.8 (55)

4.5 (139)

n/a

4.0 (18)

4.0 (1)

Awards

Synopsis of User Ratings and Reviews

Implementation: All reviews on the topic suggest that it’s extremely simple and affordable to implement.

User Interface: The software has a clean, interactive and user-friendly interface, according to 100% of reviews on this aspect.

Easy to Learn: Every reviewer mentioning this aspect agrees that it’s quite easy to learn and adapt to, without any technical training.

Easy to Use: According to all users mentioning this aspect, the system is very easy to use and requires little training.

Budget Management: Every reviewer referring to this feature observes that the system has helped bring transparency and gain control over their budget.

Customer Support: The service team is always there to answer questions and even help make available features not offered by the software, according to all reviews referring to this aspect.

Approval Workflow: Everyone mentioning this feature says the system has helped them become fast and effective by offering customizable approval workflows.

Purchasing Process: It helps automate, streamline and maintain the purchasing process, according to more than 88% of reviews on this feature.

Reports: It’s easy to access real-time and customized reports, according to 70% of reviewers referencing this feature.

Program Lags: The software may lag or freeze sometimes while transferring multiple invoices at once, according to all reviews on this aspect.

Support Ticket: Ticket and issue management is slow sometimes, as all reviews on the quality of support suggest.

Purchase Orders: It’s difficult to create and delete open POs and to set repetitive POs, according to more than 55% of users mentioning this feature.

Integration: Integration with SAP, NetSuite, QuickBook and other accounting solutions is difficult, as more than 85% reviews that mention this feature note.

Import: All the reviewers that mention this aspect report that data importing needs improvement, as many things need to be entered manually.

Search Tool: Every user mentioning this aspect finds it difficult to search for POs with items named in it.

Basware is a solution for companies looking for source-to-pay tools, e-invoicing, analytics and value-added services. It is easy to learn, which is a prominent advantage of the suite. Reviews suggest that it is easy and affordable to install as well. However, the program lags sometimes when transfering a lot of invoices at the same time. Support resolution is also slow according to user reviews. Altogether, it’s a fine choice for B2B companies looking for a purchase-to-pay and e-invoicing solution with a user-friendly interface and affordable price.

Reviews from the past year for Precoro paint a picture of a platform that streamlines procurement processes, saving businesses valuable time and money. Users consistently highlight Precoro's intuitive interface, making it accessible even for those without a finance background. The platform's robust reporting capabilities, with over 150 data points, empower financial teams to analyze spending patterns and make informed decisions. Integration with popular accounting software like QuickBooks and Xero further enhances Precoro's appeal, automating tasks and reducing manual data entry. While Precoro receives widespread acclaim, some users note occasional system instability requiring restarts. Additionally, managing supplier interactions can be challenging as suppliers lack dedicated accounts within the platform. Despite these drawbacks, Precoro's strengths far outweigh its weaknesses. Its comprehensive feature set, ease of use, and time-saving automation make it a standout choice in the procurement software landscape. Businesses seeking a holistic solution to optimize their procurement processes will find Precoro to be an invaluable asset. From small startups to large enterprises, Precoro's scalability and affordability cater to diverse organizational needs. If you're looking to transform your procurement operations and unlock cost savings, Precoro is undoubtedly worth exploring.

Screenshots

Top Alternatives in Procurement Software

Basware P2P

BirchStreet

Coupa Procurement

GEP SMART

Ivalua

JAGGAER ONE

Oracle Procurement Cloud

Precoro

Procurify

Proqura

SAP Spend Management

Synertrade

Tradogram

Workday Spend Management

Zycus

Related Categories

Procure To Pay Software

Purchasing Software

SRM Software

Strategic Sourcing Software

Procure To Pay Software

Purchasing Software

Strategic Sourcing Software

Compare other software products using the SelectHub platform

Head-to-Head Comparison

Basware VS Ariba

Basware VS BirchStreet

Basware VS Coupa Procurement

Basware VS GEP SMART

Basware VS Ivalua

Basware VS Jaggaer

Basware VS Oracle Services Procurement

Basware VS Precoro

Basware VS Procurify

Basware VS Synertrade

FAQ

How can I do a in-depth comparison of Basware and Precoro? Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam, quis nostrud exercitation ullamco laboris nisi ut aliquip ex ea commodo consequat. Duis aute irure dolor in reprehenderit in voluptate velit esse cillum dolore eu fugiat nulla pariatur. Excepteur sint occaecat cupidatat non proident, sunt in culpa qui officia deserunt mollit anim id est laborum.

What are the top-rated propducts for Procurement Software? Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam, quis nostrud exercitation ullamco laboris nisi ut aliquip ex ea commodo consequat. Duis aute irure dolor in reprehenderit in voluptate velit esse cillum dolore eu fugiat nulla pariatur. Excepteur sint occaecat cupidatat non proident, sunt in culpa qui officia deserunt mollit anim id est laborum.

Which Procurement Software is rated the highest by users? Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam, quis nostrud exercitation ullamco laboris nisi ut aliquip ex ea commodo consequat. Duis aute irure dolor in reprehenderit in voluptate velit esse cillum dolore eu fugiat nulla pariatur. Excepteur sint occaecat cupidatat non proident, sunt in culpa qui officia deserunt mollit anim id est laborum.

Is there a requirement template for Procurement Software? Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam, quis nostrud exercitation ullamco laboris nisi ut aliquip ex ea commodo consequat. Duis aute irure dolor in reprehenderit in voluptate velit esse cillum dolore eu fugiat nulla pariatur. Excepteur sint occaecat cupidatat non proident, sunt in culpa qui officia deserunt mollit anim id est laborum.

WE DISTILL IT INTO REAL REQUIREMENTS, COMPARISON REPORTS, PRICE GUIDES and more...

SelectHub Products Reporting and Analytics

Build Your Requirements

SelectHub Products Cost and Pricing Guide

Get Your Free Comparison Report

Table settings

Expand all details

Expand all scores

Collapsed view

Priority order