Precoro vs Oracle Procurement Cloud

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

Product Basics

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.

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Oracle Procurement Cloud is a cloud-based platform designed to automate and streamline the entire procurement process, from sourcing and requisitioning to contract management and payment. It offers features like spend analysis, supplier management, e-invoicing, and workflow automation, which are beneficial for businesses of all sizes. Popular features include its intuitive user interface, robust reporting capabilities, and integration with other Oracle Cloud applications. Users praise its ability to improve procurement efficiency, reduce costs, and increase visibility into spending. While pricing varies depending on specific needs, it typically falls within the range of $50-$100 per user per month, with annual subscriptions available. Compared to other solutions, Oracle Procurement Cloud offers a comprehensive suite of features and is well-suited for larger businesses seeking to optimize their procurement operations.

Pros
  • Streamlines procurement process
  • Improves visibility into spending
  • Reduces costs
  • Intuitive user interface
  • Robust reporting capabilities
Cons
  • Complex setup and configuration
  • Limited customization options
  • Steep learning curve
  • High cost of ownership
  • Limited integration with other systems
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$35/User, Monthly
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Tailored to your specific needs
$400/User, Monthly, Quote-based
Get a free price quote
Tailored to your specific needs
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Product Assistance

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Product Insights

  • 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.
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  • Increased Efficiency and Productivity: Automate manual tasks, streamline workflows, and eliminate errors, freeing up valuable time and resources.
  • Improved Visibility and Control: Gain real-time insights into spending, inventory, and supplier performance, allowing for better decision-making and proactive risk management.
  • Reduced Costs: Optimize procurement processes, negotiate better deals with suppliers, and eliminate waste, leading to significant cost savings.
  • Enhanced Compliance: Ensure adherence to procurement policies and regulations, mitigating compliance risks and potential penalties.
  • Improved Collaboration: Connect buyers, suppliers, and other stakeholders on a single platform, fostering collaboration and communication.
  • Greater Agility and Responsiveness: Adapt quickly to changing market conditions and respond to opportunities with increased flexibility.
  • Improved Decision-Making: Access data-driven insights to support strategic sourcing decisions, enabling informed and optimized procurement strategies.
  • Reduced Risk: Mitigate risks associated with fraud, errors, and compliance issues, improving overall operational resilience.
  • Increased Sustainability: Promote sustainable procurement practices by optimizing resource utilization and reducing environmental impact.
  • Enhanced Supplier Relationships: Build stronger relationships with suppliers through improved communication, collaboration, and transparency.
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  • 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. 
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  • Spend Analysis: Analyze historical spending data to identify trends, optimize purchasing decisions, and uncover cost-saving opportunities.
  • Sourcing and Requisitioning: Streamline the sourcing process with e-sourcing tools, manage requisitions efficiently, and automate approvals.
  • Contract Management: Create and manage contracts with suppliers, track performance against agreed terms, and ensure compliance.
  • Purchasing and Ordering: Automate purchase order creation, manage purchase orders efficiently, and track order status and deliveries.
  • Invoice Processing: Automate invoice processing with e-invoicing capabilities, match invoices to purchase orders, and manage exceptions efficiently.
  • Supplier Management: Onboard and manage suppliers, track performance and compliance, and collaborate effectively with key suppliers.
  • Reporting and Analytics: Generate comprehensive reports on spending, supplier performance, and procurement activities, providing valuable insights for data-driven decisions.
  • Workflow Automation: Automate routine tasks and approvals, streamline procurement processes, and reduce manual workload.
  • Integration with other Applications: Integrate with other Oracle Cloud applications like ERP,Financials, and Supply Chain Management for a holistic view of operations.
  • Mobile App: Access procurement data and manage tasks on the go using the mobile app, increasing accessibility and productivity.
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Product Ranking

#22

among all
Procurement Software

#62

among all
Procurement Software

Find out who the leaders are

Analyst Rating Summary

73
90
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100
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100
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Dashboard and Reporting
Platform Capabilities
Platform Security
Requisitions
Purchase Orders Management
Budget Management
Dashboard and Reporting
Native Integration and Extensibility
Platform Capabilities
Platform Security

Analyst Ratings for Functional Requirements Customize This Data Customize This Data

Precoro
Oracle Procurement Cloud
+ Add Product + Add Product
Budget Management Contract Management Dashboard And Reporting Invoice Management Mobile Capabilities Native Integration And Extensibility Platform Capabilities Product Catalog Purchase Orders Management Receiving And Inventory Management Requisitions Sourcing Spend Management Supplier Management 88 76 100 89 77 60 100 80 90 39 96 67 58 62 100 98 100 89 40 100 100 100 100 75 97 93 95 88 0 25 50 75 100
88%
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43%
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Analyst Ratings for Technical Requirements Customize This Data Customize This Data

33%
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67%
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User Sentiment Summary

Excellent User Sentiment 264 reviews
Great User Sentiment 5 reviews
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.

84%
of users recommend this product

Oracle Procurement Cloud has a 'great' User Satisfaction Rating of 84% when considering 5 user reviews from 1 recognized software review sites.

5.0 (1)
n/a
4.6 (43)
n/a
4.8 (164)
n/a
4.8 (55)
4.2 (5)
4.0 (1)
n/a

Awards

Precoro stands above the rest by achieving an ‘Excellent’ rating as a User Favorite.

User Favorite Award

SelectHub research analysts have evaluated Oracle Procurement Cloud and concluded it earns best-in-class honors for Budget Management, Contract Management, Native Integration and Extensibility, Product Catalog, Purchase Orders Management and Requisitions.

Budget Management Award
Contract Management Award
Native Integration and Extensibility Award
Product Catalog Award
Purchase Orders Management Award
Requisitions Award

Synopsis of User Ratings and Reviews

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.
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Time savings: Users report significant time savings due to automation of manual tasks and streamlined workflows.
Improved visibility: Users appreciate the real-time insights into spending and supplier performance.
Enhanced collaboration: Many users highlight the benefits of the self-service portal for improving communication with suppliers.
Reduced errors: Automation and process control lead to fewer errors and improved data accuracy.
Scalability: Users value the ability to adapt the platform to their specific needs and grow with their business.
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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.
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Cost: Oracle Procurement Cloud can be expensive, especially for small businesses, due to subscription fees and potential implementation costs.
Complexity: Users report a steep learning curve and the platform requires significant training for full utilization.
Limited customization: Some businesses find the platform's customization options insufficient for their specific needs.
Integration challenges: Integrating Oracle Procurement Cloud with other systems can be complex and require additional resources.
Reporting limitations: Some users find the reporting capabilities not as robust as they need, requiring additional data manipulation.
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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.

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Oracle Procurement Cloud receives mixed reviews from users with typical procurement needs. Many users appreciate its ability to automate tasks, improve visibility, and enhance collaboration with suppliers. They report significant time savings and increased efficiencies compared to previous systems. One user states, "It has streamlined our procurement process significantly. We've reduced our purchase order processing time by 50%." Others highlight the platform's real-time insights and supplier portal, commenting, "The data is always up-to-date and readily available, which helps us make better decisions." and "Our suppliers love the self-service portal. It's made communication and collaboration much easier." However, some users find the platform expensive, particularly for small businesses. They also mention a steep learning curve and limited customization options. One user points out, "The subscription fees can be a burden for smaller companies, and the implementation process can be time-consuming and costly." Another user adds, "It took a while for our team to get comfortable with the interface, and we found ourselves wishing for more flexibility in tailoring the platform to our specific needs." When compared to other procurement solutions, users highlight Oracle Procurement Cloud's strengths in automation, collaboration, and data visibility. However, they also acknowledge the platform's complexity and cost, which can be deterrents for some. For example, one user comments, "Oracle Procurement Cloud offers more automation and reporting capabilities than SAP Ariba, but it comes at a higher price point." Another user adds, "Coupa is a more user-friendly option than Oracle Procurement Cloud, but it lacks some of the advanced features." Ultimately, the user reviews reveal that Oracle Procurement Cloud is a powerful tool with the potential to significantly improve procurement processes. However, its complexity and cost may make it a less attractive option for some businesses. Choosing the right platform depends on a careful evaluation of individual needs, budget, and technical expertise.

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Screenshots

Top Alternatives in Procurement Software


Basware P2P

BirchStreet

Coupa Procurement

GEP SMART

Ivalua

JAGGAER ONE

Oracle Procurement Cloud

Procurify

Proqura

SAP Spend Management

Synertrade

Tradogram

Workday Spend Management

Zycus

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