9 Best Procurement Software for MS Dynamics & Dynamics 365

Here we review and compare the top Procurement Software for Microsoft Dynamics and Dynamics 365, including features, pros, and cons:

Microsoft Dynamics and Dynamics 365 has always been great enterprise resource planning solution that is only made better with the multiple business management apps it integrates with.

The platform particularly shines when it comes to integrating with dozens of great procurement software to make the entire process of purchase and vendor relationship management simple.

Any business that’s had to bounce around from vendor to vendor to find the right resources for them knows how challenging the entire procurement process can be. It is also surprising how many enterprises straight up overlook this process when, in fact, it can be used to boost a growing business’s bottom line.

Procurement Software Review

Good procurement software can simplify and automate the procurement process, making it easier to find the right vendors to buy quality goods at the best prices. The right procurement software can reduce the costs associated with the purchase process.

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In this article, we would like to recommend top tools we believe are some of the best procurement software available for Microsoft Dynamics and Dynamics 365.

Frequently Asked Questions

Q #1) What is the best Procurement Software?

Answer: We took considerable time assessing several procurement tools that work with dynamics against each. Based on parameters like usability, functionality, and price, we can confidently claim the following to be some of the best:

• Pairsoft
• Paramount WorkPlace
• Negotiatus
• eProcurement
• Procurify

Q #2) What is Procurement Software Suite?

Answer: Procurement software is a computer program that comes loaded with tools and features aimed at simplifying the purchase process completely.

The software can help automate the process of purchasing goods and help with maintaining an inventory of goods. Such tools can also help with vendor relationship management and seamless invoice processing and receiving.

Q #3) Is ERP a Procurement Software?

Answer: Enterprise Resource Planning solutions facilitate the management of multiple core business processes, often in real-time. As such, you’ll find many companies that use such software to handle their procurement process, track spending and manage budgets.

We highly recommend investing in software like this, as it can help manage the procurement process more efficient while saving both time and money.

Q #4) How much does a Procurement Software cost?

Answer: The price for e-procurement solutions generally starts at $11 to $19 per month. Many companies offer custom pricing plans, which provides companies with a more flexible payment option where they are only paying for what they need and nothing extra.

Q #5) How do you keep track of all purchase activities?

Answer: Traditionally, most companies follow the below steps to track their purchase activities:

• The purchase department is first contacted.
• The purchase department then fills out a PO.
• The purchase order tracking is then sent to the supplier.
• The department now calls the suppliers to ask for the status of their order.

List of the Top Procurement Software for Dynamics

Popular Procurement Software for Microsoft Dynamics:

1. Pairsoft (Recommended)
2. Paramount WorkPlace (Recommended)
3. Airbase
4. Precoro
5. Negotiatus
6. eProcurement
7. Procurify
8. Planergy
9. NAXT
10. DynamicPoint
11. ProcurePort

Comparing Some of the Best Procurement Software

Name	Best for	Top Features	Ratings
Pairsoft	Automated and Fully Digitized Procurement Management, with additional products for AP Automation and document management	• One-click access • Complete workflow capabilities • Guided buying catalogs • Invoice processing • Purchase order management • Web Browser access • Intuitive search functionality
Paramount WorkPlace	Automate PO and Supplier Relationship Management	• OCR Enabled Invoice Processing • Configurable Workflows • Automated PO Processing • Automated Supplier Relationship Management • Spend Management • PunchOut Catalogs
Airbase	Automated PO processing and Spend Management	• Advanced Approval Workflows • Automated PO request routing • Open PO request tracking • Corporate and Virtual card
Precoro	Integration with multiple third-party accounting software	• Automated Approvals • Real-time dashboard • Create and track budgets • Generate POs Quickly
Negotiatus	End-to-End Spend Management	• Automate Approvals • Simplified Order Tracking • Real-time spend visibility • Spend forecasting • Automatic GL Encoding
eProcurement	Simplified procurement and vendor onboarding	• Vendor Self-Service Portal • Automatic Vendor Selection • Real-time monitoring of KPIs and metrics • Automatic Vendor Selection
Procurify	Excellent spend visibility	• Configurable Workflows • Real-time budget tracking • Catalog management • Vendor relationship management • Expense and Budget management

Detailed review:

#1) Pairsoft (Recommended)

Best for automated and fully digitized procurement management platforms.

Pairsoft is the first solution that comes to our mind when we think about paperless, automated procurement solutions for Microsoft Dynamics. The software helps you save both time and money on managing tasks related to purchase by simplifying the process of document sharing and helping you decide based on data.

Thanks to its robust automation, there are fewer errors when creating purchase orders and invoices, thus keeping the entire process as efficient as possible. The software aims to provide you with greater insight into your organization’s entire procurement process by simply centralizing all data pertaining to product acquisition.

Pairsoft also specializes in making inventory management efficient by helping users easily track purchase requests and get in-depth knowledge about replenishment activities. You also get a ton of automated tools that help you with both supply and vendor relationship management.

As such, you can use Pairsoft to enforce vendor-negotiated terms and establish a better collaborative relationship with suppliers.

We especially like how Pairsoft integrates with a supplier’s PunchOut websites in real-time, thus expediting order processing and lowering procurement costs. It is also a cut above the rest, thanks to its invoice processing and receiving features. It can align and reconcile vendor invoices, packing slips, and purchase orders without a hassle.

Top Features:

• One-click access
• Complete workflow capabilities
• Guided buying catalogs
• Invoice processing
• Purchase order management
• Web Browser access
• Intuitive search functionality

Pros:

• Briskly retrieve documents for any transaction.
• Allows you to centrally manage document acquisition, approval, and storage.
• Help users get easy access to information by matching documents to your Microsoft Dynamics records.
• Capture documents using intuitive OCR technology.
• Even non-Microsoft Dynamics users can easily search for and access stored documents.

Cons:

• Nothing significant

Price: Contact for quote

#2) Paramount WorkPlace (Recommended)

Best for automating PO and Supplier Relationship Management.

What can be a better tool to follow our number one software on the list than Pairsoft’s very own Paramount WorkPlace. This solution blows the competition out of the water with regard to procurement software for Microsoft Dynamics by giving you a tool that expertly automates the entire PO process and supplier relationship management.

Paramount Workplace allows you to work with workflows that are entirely configurable. This way, you can make sure only those approvals that matter is taken care of. Approvers can receive requests for approvals and give their approvals via emails themselves, thus wasting no time. The solution also helps vendors send their invoices electronically via a self-service portal.

Paramount WorkPlace also helps you get the best deals in the market by helping you submit and manage requests to quotes from multiple vendors. We also like how Paramount WorkPlace does away with manual work by essentially you create vendor invoices from scans using the smart OCR technology.

Finally, Paramount WorkPlace shines with regards to the measurable metrics it presents you. You get to work with 15 unique metrics and reports to assess the performance of your procurement process.

Top Features:

• OCR enabled invoice processing
• Configurable workflows
• Automated PO processing
• Automated Supplier Relationship Management
• Spend management
• PunchOut catalogs

Pros:

• Helps you get a 360-degree view of all KPIs and metrics.
• It is capable of auto-generating detailed audit reports.
• It can instantly route approved requisition requests for easy creation of purchase orders.
• Robust PunchOut capabilities allow your purchase team to buy products directly from online stores like Amazon, Best Buy, etc.
• Very easy to create guided buying catalogs.

Cons:

• Nothing significant.

Price: Contact for quote.

#3) Airbase

Best for Automated PO processing and Spend Management.

Airbase is a software that you can use to gain complete visibility over your company’s spend. You can use this software to issue corporate and virtual cards to your employees. These employees can use these cards to procure resources. You are immediately notified of purchases made due to procurement, thanks to Airbase’s real-time monitoring capabilities.

Airbase also serves as an advanced accounts payable solution with impressive automated PO processing capabilities. Every PO request made is automatically routed to the relevant approver to make sure no time is wasted when it comes to procuring resources. Moreover, Airbase facilitates intuitive open PO tracking.

Features:

• Advanced Approval Workflows
• Automated PO request routing
• Open PO request tracking
• Corporate and Virtual card

Pros:

• In-built OCR
• 2-way and 3-way matching support.
• Real-time monitoring
• Highly automated

Cons:

• Getting started with the tool entails a learning curve.

Price: Quote-based

#4) Precoro

Best for Integration with multiple third-party accounting software

With Precoro, you get a comprehensive procurement and expense management software that grants you complete visibility over your company’s spend. The software considerably enhances the efficiency of your expense management by automating your approval workflows. The software also lets you track and assess your invoices, receipts, and reimbursement requests throughout the entire pay cycle.

The software integrates seamlessly with your existing accounting software. Precoro excels when it comes to its reporting capabilities. Not only do you get in-depth reports into your company’s spend but the software also presents you with visual analytics that lets you monitor your spending status across all purchase orders.

Features:

• Automated Approvals
• Real-time dashboar
• Create and track budgets
• Generate POs Quickly

Pros:

• Automation
• Easy to use and set-up
• Integrates with most third-party ERP and accounting tools

Cons:

• Some users have complained about the inventory management being not up to mark.

Price: Starts at $35/month for 20 users and less. A 14 day free trial and a free demo are also available.

#5) Negotiatus

Best for end-to-end spend management.

With Negotiatus, you basically get one platform that helps your purchase department buy products, approve their purchase, monitor company spending, and pay vendors. We love how automated and simplified the approval process in Negotiatus is. You get better insight into your spending while helping approvers approve purchasers with just a single tap.

Negotiatus also automates the 3-way matching process. As such, you are only paying for verified purchases. It is also very easy to create and send purchase orders using this software, as Negotiatus allows you to convert requisitions to purchase orders with one click.

The best part about this software is the access it gives you to a massive network of over 3500 suppliers and vendors.

Features:

• Automate approvals
• Simplified order tracking
• Real-time spend visibility
• Spend forecasting
• Automatic GL Encoding

Pros:

• The software automates the entire procurement process.
• Allows you to standardize and automate GL encoding across the company.
• Let’s you anticipate your future spending with comprehensive metrics.
• Good access to a large network of suppliers and vendors.

Cons:

• There have been complaints about the product replacement process on the software becoming a tad-bit cumbersome.

Price: Contact for quote

Website: Negotiatus

Further Reading => BEST Microsoft Dynamics 365 Partners to Look For

#6) e-Procurement

Best for simplified procurement and vendor onboarding.

e-Procurement seems like software that was designed to work and integrate well with Microsoft Dynamics. Fortunately, that is exactly what it does. The software helps you get better visibility, transparency, and insight needed to manage the procurement process efficiently.

With e-Procurement, you get an adequately automated tool that makes the task of procurement paperless and quick. It helps you establish a more substantial relationship with vendors and suppliers. It also simplifies the vendor onboarding process, which can be rough otherwise. The software can also create purchase orders, bid submissions, and track RFQs.

Top Features:

• Vendor self-service portal
• Automatic vendor selection
• Real-time monitoring of KPIs and metrics
• Automatic vendor selection

Pros:

• Love the two-way integration between Microsoft Dynamics and the Vendor portal.
• Vendors can update their own contact and other profile information.
• You can get alternate product suggestions.
• Vendors can download multiple user guides.

Cons:

• The software is a bit limited when it comes to features.

Price: Contact for quote

Website: eProcurement

#7) Procurify

Best for excellent spend visibility.

Procurify has long been the go-to spend management and procurement software for many companies across the world. Now, with its Microsoft Dynamics integration, the solutions have evolved significantly to become one of the best procurement solutions being widely used today.

The software allows you to proactively track, control, and analyze an organization’s spending.

It allows you to easily create and customize approval workflows. You also get greater visibility and control over your spending, with metrics presented to you in real-time. Perhaps the best part of Procurify right now is its mobile application. The software can be used to manage the procurement process on the go.

Top Features:

• Configurable workflows
• Real-time budget tracking
• Catalog management
• Vendor relationship management
• Expense and Budget management

Pros:

• Facilitates real-time spend visibility.
• Easily control and manage a company’s spending.
• Finance teams get a centralized system of record to work with.
• Approval workflows are easy to set up and customize.

Cons:

• The software doesn’t capture itemized expenses that have already been approved.
• Budget data only shows up for approvers.

Price: Contact for quote

Website: Procurify

Further Reading => List of the BEST Procurement for Sage Intacct of the Year

#8) Planergy

Best for customizable approval workflows.

Planergy is a great purchase order management and invoice authorization software for Microsoft Dynamics. It allows you to collect, track and report on spending in a considerably simple fashion. Purchase orders created via this tool can be approved with real-time budget visibility.

That being said, it is Planergy’s ability to create customizable approval workflows where it ultimately shines. You get to streamline approval workflows with cloud access for quick approval across multiple locations or departments of an office. We also like Planergy’s cloud app as it allows you to request, approve and manage purchase orders efficiently from anywhere.

Top Features:

• Budget and spend management
• Customizable approval workflows
• Automatically enforce 3-way matching
• Track and categorize spend

Pros:

• Impressive OCR and AI technology
• Helps eliminate incorrect payment by helping match invoices against POs in Planergy
• One secure database to store all data, thus making information accessible whenever needed
• It provides reports that are exportable, filterable, and customizable.

Cons:

• Search functionality can be improved a tad bit more.

Price: Contact for quote.

Website: Planergy

#9) NAXT

Best for direct and indirect procurement of goods.

NAXT is a platform that emphasizes the direct and indirect procurement of goods for businesses across several of their dealerships. The software handles the entire lifecycle of procurement. NAXT is capable of undertaking pro forma purchase orders, direct deliveries, and landed costs, which include freight, insurance, and uncoverable taxes.

The software helps you manage various aspects of a trade agreement between your company and the vendor. For instance, NAXT can effortlessly manage agreements based on volume and monetary commitments. NAXT can also be used to manage the RFQ process, including vendor reply, comparison, and selection.

Top Features:

• Direct and Indirect Procurement Management
• End-to-end vendor relationship management
• Category management
• Procurement reporting

Pros:

• Allows you to manage price and multifaceted discount policies in all currencies.
• The software helps improve vendor experience by extending the vendor onboarding process via a cloud-based dialogue.
• Allows you to categorize products into different hierarchies.
• Helps enforce purchasing policies through a centralized desk meant for procurement.

Cons:

• Can be difficult to use initially with a short learning curve involved.

Price: Contact for quote

Website: NAXT

Also Read => Check these Top Procurement for Dynamics GP

#10) DynamicPoint

Best for invoice automation.

DynamicPoint is considered to be one of the most affordable Microsoft 365 invoice automation apps. The software allows you to streamline accounts payable via OCR, PO match, templates, workflow, and check requests.

The platform integrates seamlessly with Microsoft Dynamics to help you create a vendor portal that simplifies the procurement process. DynamicPoint’s superior OCR tech also helps with easy mobile capture and automated approval workflows.

Top Features:

• Vendor self-service portal
• Invoice automation
• Automated approval workflow
• Expense management

Pros:

• Get 24/7 self-service access.
• Multiple templates to choose from for invoice creation.
• Very simple to configure.

Cons:

• Needs better technical support.

Price: Contact for quote

Website: DynamicPoint

Also Read => List of the BEST Procurement for Dynamics Business Central

#11) ProcurePort

Best for excellent spend analysis.

ProcurePort is a cloud-based purchasing system that was designed to automate the entire procure-to-pay process. With this software, you get a single secure platform that can be used to control your spending operations. It comes incorporated with sourcing, invoicing, and budgeting modules that together work to simplify the procurement process.

ProcurePort makes it very easy to manage quote requests, requisitions, and approvals. It also makes the process of creating purchase orders, handling invoice reconciliations, and payment processing very secure.

Top Features:

• Purchase requisition
• Spend analysis
• Contract management
• Reverse auction

Pros:

• Makes contract management very simple by reducing risks associated with poorly maintained documents.
• Helps you customize and build an e-marketplace.
• User-friendly interface.
• Visualize your spending with the help of a visual dashboard.

Cons:

• Doesn’t tell you about the number of bids placed by the supplier.
• Can be a bit expensive for small enterprises.

Price: Pricing starts at $199/month.

Website: ProcurePort

Conclusion

Microsoft Dynamics is in itself a phenomenal ERP solution, which only excels with the integration options it presents with regards to procurement software. As managing the procurement process traditionally is no child’s play, you can leverage the help of any of the above-recommended solutions to automate and simplify the process.

With the tools above, you will have better control over this often overlooked but extremely important aspect of your business. You’ll be able to better source trusted suppliers, find quality products and purchase them at the best deals. You can also rest assured to establish healthier relationships with vendors and suppliers over the course of using these solutions.

As for our recommendation, we suggest you give both Pairsoft and Paramount WorkPlace a try because of their excellent usability, functionality, and technical support offered.

Research Process:

• We spent 15 hours researching and writing this article so you can have summarized and insightful information on which procurement software for dynamics will best suit you.
• Total software researched – 22
• Total software shortlisted – 9