Basware vs Procol

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Our analysts compared Basware vs Procol based on data from our 400+ point analysis of Procurement Software, user reviews and our own crowdsourced data from our free software selection platform.

Basware Software Tool
Procol Software Tool

Product Basics

Basware offers networked source-to-pay tools, e-invoicing, analytics and value added services. It facilitates automated operations and management, spend and supply chain visibility, supplier management, early payment discounts and more. It helps reduce paperwork, save time and effort spent in manual work, boosts working capital and enhances business ROI. It serves B2B companies of all sizes and industries.
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Procol is a sophisticated software solution designed to streamline procurement processes, making it ideal for businesses seeking efficiency in managing their supply chain. It offers a comprehensive suite of tools that facilitate tasks such as vendor management, purchase order creation, and contract management. Procol is particularly well-suited for mid to large-sized enterprises that require robust procurement capabilities to handle complex purchasing needs.

The software's key benefits include enhanced transparency, cost savings through better supplier negotiations, and improved compliance with procurement policies. Popular features encompass real-time analytics, automated workflows, and seamless integration with existing ERP systems. Users appreciate Procol for its intuitive interface and the significant reduction in manual tasks, which leads to increased productivity.

Compared to similar products, Procol stands out for its user-friendly design and comprehensive feature set. Pricing details are typically customized based on the specific requirements of the business, so it is recommended to contact SelectHub for a tailored quote.

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$15,000/Invoice Transaction, Annually
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$100 Monthly
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Product Insights

  • Eliminates Paperwork: Reduces paperwork by digitizing all operations starting from point of order placement to payment. 
  • Increases Visibility: Offers complete visibility for spend, suppliers, buyers and the supply chain. 
  • Saves Time and Effort: Streamline work using AI and machine learning, which help automate manual tasks such as invoicing, account payable management and other day-to-day tasks. 
  • Boosts Working Capital and Cash Flow Visibility: Improves the flow of payments through early payment discounts offered to suppliers for releasing payments quickly. Adoption of e-invoices improves cash flow visibility. 
  • Strengthens Supplier Relationships: Offers tools for supplier registration, pre-approved workflows and questionnaires to evaluate supplier performance management and help improve relationships with suppliers. 
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  • Cost Savings: Procol streamlines procurement processes, reducing manual errors and saving on operational costs.
  • Time Efficiency: Automated workflows speed up approval processes, allowing teams to focus on strategic tasks rather than administrative duties.
  • Improved Compliance: Ensures adherence to procurement policies and regulations, minimizing the risk of non-compliance penalties.
  • Enhanced Transparency: Provides real-time visibility into procurement activities, fostering accountability and informed decision-making.
  • Supplier Management: Centralizes supplier information, making it easier to evaluate performance and maintain strong vendor relationships.
  • Data-Driven Insights: Generates comprehensive reports and analytics, helping businesses identify trends and optimize procurement strategies.
  • Risk Mitigation: Identifies potential risks in the supply chain early, allowing for proactive measures to mitigate disruptions.
  • Scalability: Adapts to the growing needs of your business, ensuring the procurement process remains efficient as the company expands.
  • Collaboration: Facilitates better communication and collaboration among team members and stakeholders through integrated platforms.
  • Customizability: Offers customizable workflows and templates to fit the unique needs of different industries and organizations.
  • Inventory Management: Helps maintain optimal inventory levels, reducing excess stock and preventing shortages.
  • Contract Management: Simplifies contract creation, tracking, and renewal processes, ensuring all agreements are up-to-date and compliant.
  • Audit Readiness: Maintains detailed records of all procurement activities, making audits more straightforward and less time-consuming.
  • Environmental Impact: Supports sustainable procurement practices by tracking and promoting eco-friendly supplier options.
  • User-Friendly Interface: Intuitive design reduces the learning curve, enabling quick adoption and efficient use by all team members.
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  • Procure-to-Pay: Offers automation for several features including point of order, purchasing, receiving and payments, accounting and more. 
    • Analytics: Provides access to spend and helps identify opportunities, optimize cash flow and make strategic, data-driven decisions. 
    • AI and Machine Learning: Replaces manual tasks, captures invoices, performs data extractions, saves time and reduces the probability of errors. 
    • Support Services: A customer care team of dedicated support specialists assists with identifying and resolving issues, as well as modifying business processes. Other features include customer service management that enables continuous improvements in organizational processes and offers several supplier enablement tools. 
    • Source-to-Pay: Supports strategic contract lifecycle management and sourcing to strengthen vendor relationships along with negotiation stages. Also offers electronic purchase requisition procurements, validation of invoice receipts and discount management on early payment. 
  • AP Automation:  
    • Discount Management: Several tools support supplier activation, automation, analytics and dynamic discounting to carry out discount management with ease. 
  • Network:  
    • E-Invoicing for Buyers: Connects users with suppliers to let them share invoices electronically. Receive invoices in any format such as XML, EDI, PDF or paper, which the solution converts to deliver as an electronic invoice. 
    • E-Invoicing for Suppliers: Receive POs and share invoices with buyers electronically. Ensures compliance and global operations. Improves transaction status visibility and timely payment performance. 
    • Network Interoperability: Provides open network interoperability with 220+ e-invoicing network partners globally. Includes country-specific networks as well. 
  • E-Procurement:  
    • Marketplace: Connect with suppliers through punchouts and catalogs to facilitate guided purchasing, e-procurement, price negotiations, supplier collaborations and more. 
    • Strategic Sourcing: Helps conduct and manage electronic auctions, collect, store and evaluate supplier information, manage projects and contracts, and onboard suppliers easily and quickly. 
  • Supplier Management: Enables centralized visibility over supplier information, with automated updating in real time. Includes end-to-end visibility for each supplier’s performance and facilitates timely receipt of payments. 
  • Working Capital: Leverage automated and integrated visibility into spending, a variety of discount programs for receipt of early payments, dynamic discounting and more. 
  • Travel and Expense Management: Submit travel plans for approval before reservations and capture, claim and take actions on submitted expenses and reports at any time via the mobile app. 
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  • Automated Purchase Orders: Streamlines the creation and approval of purchase orders, reducing manual entry and errors.
  • Supplier Management: Centralizes supplier information, including contact details, performance metrics, and compliance documentation.
  • Spend Analysis: Provides detailed reports and dashboards to track spending patterns and identify cost-saving opportunities.
  • Contract Management: Facilitates the creation, storage, and monitoring of contracts, ensuring compliance and timely renewals.
  • eSourcing: Enables electronic tendering, auctions, and bid management to streamline the sourcing process.
  • Approval Workflows: Customizable workflows for purchase requisitions and orders, ensuring proper authorization and accountability.
  • Budget Tracking: Monitors expenditures against budgets in real-time, helping to prevent overspending.
  • Invoice Matching: Automates the matching of invoices to purchase orders and receipts, reducing discrepancies and speeding up payments.
  • Catalog Management: Maintains an up-to-date catalog of products and services, simplifying the procurement process for users.
  • Integration Capabilities: Seamlessly integrates with ERP systems, accounting software, and other enterprise applications.
  • Audit Trails: Keeps detailed logs of all procurement activities, enhancing transparency and accountability.
  • Mobile Access: Provides a mobile-friendly interface, allowing users to manage procurement tasks on the go.
  • Compliance Monitoring: Ensures adherence to internal policies and external regulations through automated checks and alerts.
  • Supplier Performance Evaluation: Tracks and evaluates supplier performance based on predefined criteria, aiding in decision-making.
  • Custom Reporting: Offers customizable reporting tools to generate insights tailored to specific business needs.
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Product Ranking

#6

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Procurement Software

#40

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Procurement Software

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Analyst Rating Summary

84
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User Sentiment Summary

Great User Sentiment 289 reviews
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85%
of users recommend this product

Basware has a 'great' User Satisfaction Rating of 85% when considering 289 user reviews from 4 recognized software review sites.

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4.0 (110)
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3.9 (22)
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4.5 (139)
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4.0 (18)
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Synopsis of User Ratings and Reviews

Implementation: All reviews on the topic suggest that it’s extremely simple and affordable to implement.
User Interface: The software has a clean, interactive and user-friendly interface, according to 100% of reviews on this aspect.
Easy to Learn: Every reviewer mentioning this aspect agrees that it’s quite easy to learn and adapt to, without any technical training.
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User-Friendliness: Procol is known for its intuitive interface that's easy to navigate, making it simple for users to perform tasks without requiring extensive training.
Automation: Procol automates repetitive procurement tasks, such as those involved in sourcing, contract management, and invoice processing, which frees up time for more strategic activities.
Customer Support: Procol is highly regarded for its responsive and helpful customer support team, ensuring users receive timely assistance when needed.
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Program Lags: The software may lag or freeze sometimes while transferring multiple invoices at once, according to all reviews on this aspect.
Support Ticket: Ticket and issue management is slow sometimes, as all reviews on the quality of support suggest.
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Analytics and Reporting: While Procol offers spend analysis, some users desire more advanced analytics features and customizable reporting options for deeper insights into procurement data.
Integration Capabilities: Procol's integration capabilities with other enterprise systems have room for improvement, which can be a drawback for businesses with complex IT ecosystems.
Supplier Onboarding and Training: Some users have expressed a need for better supplier onboarding and training resources to facilitate smoother vendor collaboration and adoption of the platform.
User Interface: Although generally considered user-friendly, some users suggest minor UI improvements, such as better dashboards and color schemes, to enhance the user experience.
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Basware is a solution for companies looking for source-to-pay tools, e-invoicing, analytics and value-added services. It is easy to learn, which is a prominent advantage of the suite. Reviews suggest that it is easy and affordable to install as well. However, the program lags sometimes when transfering a lot of invoices at the same time. Support resolution is also slow according to user reviews. Altogether, it’s a fine choice for B2B companies looking for a purchase-to-pay and e-invoicing solution with a user-friendly interface and affordable price.

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Is Procol a procurement pro or does it need to go back to procurement school? User reviews from the last year are largely positive, praising Procol for its user-friendly interface, robust automation capabilities, and stellar customer support. Many users rave about Procol's ability to streamline procurement processes, particularly highlighting its intuitive design that even non-tech-savvy individuals find easy to navigate. For instance, one user mentioned that Procol's readily available templates simplified order creation, while another lauded the platform's ability to transform their archaic, phone-call-reliant procurement process into a transparent, digitized system. However, like any good student, there's always room for improvement. Some users pointed out areas where Procol could level up, such as incorporating more advanced analytics and customizable reporting features. A few users also wished for smoother integration capabilities with other enterprise systems and more comprehensive supplier onboarding and training resources. For example, one user suggested enhancing the platform's visual appeal and dashboard design, while another expressed a need for multi-language support. Overall, Procol seems to be a Dean's List procurement software solution, best suited for businesses looking to ditch manual processes and embrace automation. Its intuitive interface makes it a great fit for teams of all technical abilities, while its robust features can handle even complex procurement needs. However, companies requiring advanced analytics or seamless integration with a diverse range of enterprise systems might need to consider if Procol has reached its full potential.

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