Precoro
AI-Powered Procurement Centralization & Automation Platform.
Executive Summary
Precoro is a cloud-based procurement and accounts payable automation platform designed for growing, multi-entity businesses. It centralizes purchasing, automates the entire procure-to-pay workflow from requisitions to invoice processing, and provides real-time spend visibility and budget control. The platform leverages AI to eliminate manual work, reduce errors, and optimize spending for finance and procurement teams, helping them make faster decisions and achieve compliance.
Use Cases
- Centralizing scattered spend across multiple subsidiaries and locations for unified control.
- Automating purchase approvals and budget tracking to ensure compliance and financial control.
- Streamlining invoice processing with AI-powered OCR and automated 3-way matching to minimize errors.
- Managing vendor onboarding, approvals, and centralizing supplier information for efficient collaboration.
- Gaining real-time visibility into expenses and budget balances to prevent overspending and improve cash flow transparency.
- Eliminating manual data entry and reducing errors in procurement documents to free up team time for strategic tasks.
Features
Visibility
- Real-time Spend Visibility: Gain a 360-degree view of every procurement transaction, from what was purchased to where, when, by whom, and at what price.
- Budget Control & Tracking: Set up and manage departmental or project-based budgets, track all purchases in real-time, and receive alerts for budget overruns.
- Approval Workflow Tracking: Monitor the status of all approvals in real-time, identify bottlenecks, and ensure timely decision-making with Approval SLA.
- Supplier Performance Insights: Access reports on supplier performance, lead times, and compliance to optimize vendor relationships and identify savings opportunities.
Intelligence
- AI-Powered OCR & Data Entry Automation: Automatically extract key details from invoices and receipts, pre-filling documents and significantly reducing manual data entry by up to 80%.
- Smart Approval Routing: Customize multi-level approval workflows based on budgets, departments, roles, or amount thresholds, with automatic notifications via email or Slack.
- Automated Three-Way Matching: Automate the matching of purchase orders, invoices, and goods receipts to ensure accuracy, prevent unapproved payments, and establish a 'No PO - No Pay' rule.
- AI Assistant for Bottleneck Analysis: Leverage an AI assistant to analyze approval trends and identify where delays happen most often, providing actionable insights for faster decisions.
Support
- Dedicated Customer Success Manager (CSM): Receive ongoing support and guidance from a dedicated CSM throughout implementation and beyond, ensuring successful adoption and value realization.
- Comprehensive Help Center & Knowledge Base: Access a comprehensive online help center and knowledge base with articles, guides, and FAQs for self-service support and resources.
- Multi-channel Live Support: Get assistance through various channels including email, phone, and live chat during business hours.
- Customer-driven Product Development: Benefit from continuous product improvements based on active customer feedback and an openly shared product roadmap, ensuring features meet real user needs.
Technical Specifications
- Architecture
- Cloud-native SaaS
- Deployment
- Cloud/SaaS
- Authentication
- SSO, MFA
- API Available
- Yes
- MCP Server
- No
Infrastructure
- Digital Ocean
AI/ML Stack
- Machine Learning
- NLP
Integrations
- QuickBooks
- Xero
- NetSuite
- SAP
- Microsoft Dynamics
Security & Compliance
Certifications: SOC 2 Type II, ISO 27001, GDPR, UK GDPR, CCPA, HIPAA
Encryption: AES-256 at rest, TLS 1.3 in transit
Data Residency: Cloud-based
Pricing
- Model
- Tiered subscription
- Starting Price
- Contact sales
- Target Customer
- SMB to Enterprise
- Contract Type
- Annual
- Free Trial
- Yes, 14 days (credit card required)
About Precoro
Precoro is a procurement software company founded in 2015, specializing in centralizing and automating purchasing processes for businesses worldwide. Their platform offers features like automated purchase orders, supplier management, and spend analytics to streamline procurement operations and enhance efficiency.