Precoro is a cloud-based solution for procurement process optimization. It aims to eliminate time-consuming manual procedures and human factor errors, and instead automates operations and centralizes purchasing processes. It enables users to: - Approve documents from any device using email or Slack notifications. Users can streamline approval workflow by adding as many steps as needed and assigning specific roles for colleagues. - To save money from the purchasing budget,…
$499
per month (billed annually)
Ramp
Score 9.3 out of 10
N/A
Ramp is a corporate card and spend management solution that helps companies of all sizes to accelerate growth without compromising on their finances. With a direct integration with the user's accounting solutions, Ramp helps finance teams save time tracking expenses, following up with employees, and closing their books. Ramp offers companies real time visibility into spending, automated expense reporting, and advanced insights into ways to cut spend.
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Pricing
Precoro
Ramp
Editions & Modules
Core
$499
per month (billed annually)
Automation
$999
per month (billed annually)
Suite
Individually Tailored Pricing
per year
No answers on this topic
Offerings
Pricing Offerings
Precoro
Ramp
Free Trial
Yes
No
Free/Freemium Version
No
Yes
Premium Consulting/Integration Services
No
No
Entry-level Setup Fee
No setup fee
No setup fee
Additional Details
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Ramp provides a free tier for smaller teams who want to simplify finances. A step-up to our free tier is Ramp Plus, starting at $15/month/user along with platform fees based on team size. Then, for large businesses, the Enterprise plan requires a custom quote.
Budget tracking on expenditure by departments - Precoro assists with budget tracking on the total budget which is allocated to each department. If the budget has been exhausted an alert is made for exceptional approval to the budget.
Duplication of invoices. When a supplier bills us the same invoice twice, Precoro makes a notification that an invoice with the same number was already uploaded for payment.
Ramp is well suited for managing everyday spending. We have been able to set standard permissions across the board for our team, monitor spending easily, and adjust "allowances" accordingly and quickly. The instant funding once a request is approved makes it so much faster to make a purchase, if outside of the set parameters. Ramp travel offerings are sometimes unattractive, and we have found many flights, hotels, and car rentals by going to other platforms or the suppliers directly. Pricing is comparable, but many times it is cheaper to book outside of Ramp.
Ramp syncs to Sage Intacct smoothly, pulling dimensions in directly from the ERP.
Coding rules within Ramp are easy to customize, allowing for logic-based options following the path of the GL. This use of smartlists for dimensions dramatically lowers the instances of human data entry error.
Approval routing rules are easy to create and change as the business changes. Approvals can be based on either the user or the coding of an individual transaction depending on your business needs.
The out-of-office delegation function allows the approval process to continue without delays when key personnel are away on vacation.
The "bundles" in Precoro are not actually bundles. I would like to connect 2 of our catalog items together so that when 1 is selected for purchasing, the other item is required
Sometimes the comments wont properly tag a person that we're trying to tag
More options to customize the approval workflow based on location
Ability to edit where we're buying an item from without having to deny the request
Even more integration to have us spend less time on reporting expenses for grant reports
This does not happen often, but if you make a purchase and then cancel it with the vendor, for some reason, Ramp does not immediately recognize that purchase cancellation and will continue to remind you to submit a receipt or tag it as an accidental charge, but there is no option to tag it as a canceled purchase.
At first glance it seemed to be rather difficult in use, but actually it turned out to be much easier [than] we thought. Thanks to the Precoro team we could go through the procurement workflow. Now with [the] right, user-friendly software partner, we are absolutely ready to meet all [our] company's needs.
For the most part, Ramp has been a massive benefit to our organization. It has an easy user experience, looks good on the screen, has intuitive workflows in most applications, and other than issues with accounting, coding & syncing I receive very little feedback (which is positive for us) on using Ramp.
Precoro is a company, which makes great products for businesses. What is more, it is a team of professionals, who are always keep[ing] in touch with you. Thanks [to] Precoro, we easily go through procurement workflow and manage all of our POs in a couple of minutes. We had a great experience with the Precoro team which helped us with installation of the software.
Precoro is unique because it can be customizable from start to finish without needing to build in API. It is extremely easy to use and understand, so we did not need to give our employees extensive training as we did with Tradogram. Precoro also allowed us to communicate about orders right within the order itself, where the other software did not.
These solutions were all great in their own ways. The two main reasons we chose Ramp was because of their innovation around AI. They have implemented AI Agents in their tool to help enforce the company expense policy and help managers be more efficient in reviewing and approving their direct report expenses. Also, we are able to manage all of our company's international entities on one platform
Our problem before implementing Precoro was a lot of manual tasks, from managing catalogs to creating reports. Now all related processes are in one place, and it's faster to create a purchase order, track it, and get products in time. Also, the overall visibility increased. We can see all purchases and their impacts on our budget. Reports is the most customizable module, so we can get the data we need. Thanks to our CSM for fast onboarding and help!
Ramp has definitely helped us save hundreds of dollars in just the first year of using it. Expenses can easily get lost in the shuffle that is fraudulent or placed on the wrong credit card, but with Ramp, the admin team can see everyone's spend and make call-outs to charges that don't look to be the accurate way in advance of it possibly getting lost and forgotten down the line.
