Precoro Reviews and Ratings

Rating: 2.9 out of 10

Score

2.9 out of 10

Community insights

TrustRadius Insights for Precoro are summaries of user sentiment data from TrustRadius reviews and, when necessary, third party data sources.

Pros

Easy Onboarding Process: Several users have appreciated the easy onboarding process of the software, finding it simple to get started and quickly become familiar with its features.

3-Way Matching Process: Many reviewers have liked the 3-way matching process offered by the software. This feature allows them to easily match invoices, purchase orders, and receipts in one place, improving accuracy and efficiency in their financial management.

Fast Approval Process: The fast approval process has been highlighted as a valuable aspect of the software by multiple users. They have found that specific roles assigned to colleagues facilitate quick approvals, streamlining their workflow and saving time.

Reviews

18 Reviews

Precoro - User Friendly Sytsem

Rating: 10 out of 10

Incentivized

February 22, 2023

Use Cases and Deployment Scope

MyBucks Banking Corporation uses Precoro for purchase order creation and delivery, visual analytics expenditure by departments, receiving, three-way matching. Precoro has managed to address many business problems including, real time tracking of expenditure by departments, Cost saving such as reducing printing cost, Increase staff productivity. Consequently, it has reduced duplication of invoices payable to suppliers.

Pros

Budget tracking
Visual Analytics
Notification of duplicated invoices
Sending Purchase Orders directly to suppliers
Ability to download reports

Cons

Option to print directly on Precoro
Functionality to select different branches under one invoice when the invoice is applicable to branches more than one
Notifications to alert the authorizer when the approval is taking so long to approve

Likelihood to Recommend

<div>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. </div><div>

</div><div>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. </div><div>

</div><div>

</div>

Dennis Nyanda

FInance Officer in Finance and Accounting at MyBucks Banking Corporation (501-1000 employees)

Vetted Review

1 year of experience

View profile

Smiling Precoro!

Rating: 9 out of 10

Incentivized

December 1, 2022

Use Cases and Deployment Scope

Precoro is our procurement system in our organization and it replaces the current manual processing of our purchasing function. The system helps us to track items easily as compared to manual & increases our productivity. It is user friendly & price is reasonable where every small company like us can afford to buy & use it.

Pros

It is cloud base & we can use it anywhere anytime as long as there is wifi.
It is user friendly.
Price is affordable.

Cons

All notes & comments and documents submitted in PR were not flow thru to the PO so we need to attach the docs & type the notes & comments again
Some field in PR can be omitted

Likelihood to Recommend

Precoro is well suited for the hospitality industry. It is also suitable for any other industry as long as the initial setup is right.

Verified User

Account Manager in Finance and Accounting (1-10 employees)

Vetted Review

1 year of experience

Excellent solution for Procurement and Spend Management

Rating: 10 out of 10

Incentivized

July 1, 2022

Use Cases and Deployment Scope

The program is used to control the procurement cycle of the entire company by individual departments or locations. From office equipment to service subscriptions, tracking all statuses from requisition to payment.I use it at least weekly. Requests are created intuitively and in handy, as the catalog of the products I need is already here. I can also generate warehouse requests from the inventory section. The approvals are much faster because my manager is notified immediately and can confirm it from his phone. Thanks to the budgets, there is complete visibility of the current expenses and the number of remaining funds for a certain period.

Pros

Procure-to-pay process covering
Visualizing budget control
Notification for faster approvals
Distribution of processes by departments

Likelihood to Recommend

Complete control over the company's spending One place for all requisitions and purchase orders Manual work elimination Accessibility from any devices Customizable documents

Mariana Dziatko

SMM in Marketing at Plerdy (11-50 employees)

Vetted Review

1 year of experience

Easy-to-use system for all employees

Rating: 9 out of 10

Incentivized

June 30, 2022

Use Cases and Deployment Scope

We use Precoro to efficiently procurement process management. Each employee can leave a purchase request in advance, comparing it with the budget. The tool is convenient and clear, so requests are created quickly and without errors. Attachments can be added to each request, and information can be clarified by tagging each other. In addition to being convenient, it allows us to view all the information in one place to avoid possible misunderstandings.Thanks to the optimized approval process, all stages are fast, and we can get the items on time.

Pros

Purchase requisition creation with attachments and approval history
Purchase Order Management
Approval process optimization
Vendor communication

Cons

All works great, but the inventory module lacks functionality.

Likelihood to Recommend

<ul><li>Customization of the approval process based on company rules.</li><li>Scalable by location, department, or project. </li><li>Precoro has no limitations on fields quantity, so you can add as many as you need.</li><li> Quantity is not limited.Convenience even for non-financial employees.</li><li> Training is practically not required.Easy order creation and tracking.</li></ul>

Verified User

Analyst in Research & Development (10,001+ employees)

Vetted Review

1 year of experience

PRs, POs, invoices, vendor catalog - all in one system

Rating: 9 out of 10

Incentivized

June 25, 2022

Use Cases and Deployment Scope

The tool allows me to manage all the purchase orders for each department and track expenses. All the procurement data needed, including vendor, items on orders, stock balances, and even the reason for the purchase, is kept in one place. The report generation feature is convenient. We can analyze each vendor, generate quarterly or annual expense reports and optimize plans for the following year.

Pros

Tracking clear payment statuses for each document.
Expense reports and spend analytics.
Vendor management and communication.
Transparent approval process.
Requisition management.

Cons

I'm satisfied with the way Precoro handles its task. There are a few things that could be automated. For example, editing multiple POs at once.

Likelihood to Recommend

<ul><li>Building and automating procurement processes.</li><li>Multiple locations/departments budget.</li><li>Streamlining approval workflow.</li><li>Reducing paperwork.</li><li>Increasing on-time delivery rate.</li></ul>

Verified User

C-Level Executive (51-200 employees)

Vetted Review

1 year of experience

Happy Precoro customer

Rating: 10 out of 10

Incentivized

June 20, 2022

Use Cases and Deployment Scope

I use Precoro about 1-2 times a week mainly to register the necessary orders for specific projects. The tool is very flexible and allows me to add as many custom fields as I need. I can create customizable reports to analyze spending and plan future budgets. They can be in table form or with visualization.

Pros

Scaling by locations, projects, and departments
Purchase order tracking
Purchase management
Reports creation
Spend Management and Spend analytics

Cons

Mobile app development (for IOS/Android)

Likelihood to Recommend

For streamlining approval process

To keep all spend under control

Helps to create clear purchasing strategies for future

Time and money saver

Vira Shkrebtsova

Operations Manager in Product Management at Netpeak Software (51-200 employees)

Vetted Review

1 year of experience

Good choice for our team!

Rating: 10 out of 10

Incentivized

June 13, 2022

Use Cases and Deployment Scope

It's simple to register necessary purchases and subscriptions, and get quick approval and reports to analyze expenses. "Custom fields" is a perfect match for us. We can set up an approval workflow and share responsibility between departments. Since all the data is in the catalogs, it takes a few minutes to create a purchase order, and all orders can be tracked at any time with clear statuses.

Pros

Editing the catalog data is very easy. We can export/import it from Excel
Comparing prices to make the right decisions
Fast approvals with specific roles for colleagues
Visual analytics and budget control for each department
Ability to add as many custom fields as we need to cover all processes
Real-time stock control and warehouse request creation right from the inventory module

Cons

For now, we're okay with the software. If there are some challenges, our Customer Success Manager helps us to handle them.

Likelihood to Recommend

Item catalog and stock control, Purchase orders and requests creation, Budget tracking and analytics, Customizable approval workflow, and custom fields to suit our processes.

Verified User

Manager in Marketing (51-200 employees)

Vetted Review

1 year of experience

Awesome software for procurement and spend management

Rating: 10 out of 10

Incentivized

June 13, 2022

Use Cases and Deployment Scope

Precoro is a great place to keep all purchasing data. We can add all employees to leave purchase requests, and track them right for the payment stage. I use it for budget control, reports, spending analytics, and strategic cost optimization. The tool is very customizable, it allows us to set up processes according to our company's needs and our Support Manager helps us to do it in the best way.

Pros

Customizable reports creation
Spend control among projects
Deep spend analytics and expense optimizing
Ordering process
Purchase requests management
Ability to adjust to companies' work processes

Cons

Inventory management can be too basic for some companies. Now, it fully covers our needs.

Likelihood to Recommend

Requisition Management Spend Management Expense Analytics Multi locations/projects/departments Purchase Order Management

Taras Talimonchuk

Growth Marketing Manager in Marketing at Approval Studio (51-200 employees)

Vetted Review

1 year of experience

View profile

Powerful procurement software!

Rating: 10 out of 10

Incentivized

May 25, 2022

Use Cases and Deployment Scope

We gain complete control over all our purchasing operations, from purchase requisition (which can be easily created thanks to the item catalog) to inventory control. Precoro allows checking all order stages and payments, setting up and controlling budgets, and creating visual reports in real time.

Pros

Vendor management with supplier portal and item catalog.
Matching PO with Invoices. So we can eliminate double payments.
Budgets with a progress bar for each project.
Many custom fields for report creation to improve analytics.
Customer support and advising.

Cons

I would like to see a complete approval history for each order.

Likelihood to Recommend

Vendor Management, price comparison Purchase order tracking Complete spend control, including reimbursements Accounting integration to reduce manual work

Andrey Tabunshchik

Growth Officer in Marketing at xTiles Inc (11-50 employees)

Vetted Review

1 year of experience

View profile

Easy onboarding and great value for money

Rating: 9 out of 10

Incentivized

May 20, 2022

Use Cases and Deployment Scope

I easily plan budgets for each project, promptly track spending, and create custom reports. Precoro allows doing this in 2 clicks. All suppliers and items are in one place, so purchase requests and orders are quickly created without errors. Precoro is a cloud-based tool, so I can use it from any device as long as I have internet. This greatly speeds up approval time and helps me keep everything under control no matter where I am. I want to highlight the new Expense module. It enables transparent management of the reimbursement process, if necessary.

Pros

Intuitive
Easy implementation
Support
Visibility
Reports section

Likelihood to Recommend

Spend management, Tracking POs, Fast approvals, and Place for all employee’s requests.

Dmitry Kulaksyz, PMP®

Project Manager in Product Management at Stripo Inc (51-200 employees)

Vetted Review

1 year of experience

View profile

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