SAP SRM vs Precoro

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Our analysts compared SAP SRM 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.

SAP SRM Software Tool

Product Basics

SAP SRM is a web-based supplier relationship management module of SAP that helps take care of both source-to-pay and purchase-to-pay solutions. It automates operations, manages supplier relationships and effectively optimizes processes. It also helps in creating and processing bid requests to enable role-based security access and monitoring tasks in real time.
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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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Product Insights

  • Streamline Navigation: Access a user-friendly, intuitive portal that helps manage functions easily and perform tasks in real time. 
  • Simplify Spend Analysis: Enable NetWeaver BI to manage spend analysis and perform operations like web-based reporting, analytics and data warehousing. 
  • Improve Integration: Plan, optimize and seamlessly integrate with other SAP ERP and non-SAP modules for a streamlined data transfer. 
  • Centralized Repository: Create, manage and access contracts, catalogs and other documents within an easy-to-navigate, centralized database. 
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  • 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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  • Catalog Management: Create customizable internal catalogs and access supplier-provided external ones. Manage and integrate product information data with accounting and finance operations. 
  • Procure-to-Pay: Enable a seamless process from purchase requisitions to supplier payment. Access streamlined inventory management and improve supplier relationships to help deliver efficiency and accuracy. 
  • Contract Management: Generate operational contracts and use them as a source of supply while tracking contract usage and performance and enabling compliance.  
  • Self-service Procurement: Access any product information using the multi-product catalog and enable purchase as per the procurement policy. 
  • Reporting & Analytics: Generate, manage and access reports as the operational and strategic purchaser role. Analyze data from these reports to handle costs and help conduct business effectively. 
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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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Product Ranking

#2

among all
Procurement Software

#22

among all
Procurement Software

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Analyst Rating Summary

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Analyst Ratings for Functional Requirements Customize This Data Customize This Data

SAP SRM
Precoro
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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 0 25 50 75 100
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User Sentiment Summary

Great User Sentiment 27 reviews
Excellent User Sentiment 264 reviews
84%
of users recommend this product

SAP SRM has a 'great' User Satisfaction Rating of 84% when considering 27 user reviews from 2 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.

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5.0 (1)
4.3 (2)
4.6 (43)
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Awards

we're gathering data

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

User Favorite Award

Synopsis of User Ratings and Reviews

Robust Integration: Seamlessly integrates with other SAP modules, like ECC and HCM, streamlining operations and data flow for procurement activities.
Comprehensive Functionality: Offers strong contract lifecycle management, supplier evaluation, and procurement analytics in one platform.
Real-Time Collaboration: Enables real-time collaboration with suppliers, facilitating communication and feedback loops.
Improved Spend Analysis: Provides tools for spend analysis and web-based reporting via NetWeaver BI, leading to better cost control and insights.
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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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Steep Learning Curve: Users find it difficult to learn how to use due to its complexity.
High Implementation Costs: Implementing the software can be expensive, especially for large enterprises.
Performance Issues: Users report occasional performance issues, such as slow loading times or system unresponsiveness, hindering productivity.
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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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SAP SRM has garnered mostly positive reviews from users over the past year, praising its robust features and integration capabilities with other SAP modules, which many find helpful for streamlining their procurement processes and enhancing supplier collaboration. Users particularly appreciate the software's ability to improve compliance and spend visibility, leading to more significant cost savings and better control over procurement operations. However, some users find the user interface outdated and less intuitive compared to modern procurement solutions. The steep learning curve and high implementation costs are also common criticisms, making it less appealing to smaller organizations. For example, one user noted that "setting up a new profile takes time," highlighting the software's complexity. Overall, SAP SRM emerges as a comprehensive solution best suited for large enterprises with complex procurement needs due to its extensive features and integration capabilities, despite its drawbacks.

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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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