Precoro vs. CoreTrust Experience Platform (CXP)

Precoro is a comprehensive cloud-based platform designed to centralize and automate procurement processes. It seamlessly integrates your procurement activities, reduces manual tasks, curbs unauthorized spending, and accelerates savings in ways that may surprise you. - Procurement: Enhance relationships with suppliers, centralize contract management, and streamline employee requests for greater efficiency. - AP Automation: Optimize each phase of the invoice lifecycle using an AP inbox, AI-driven OCR technology, an approval workflow, 3-way matching, detailed reporting, integrations, and budget oversight. - Spend Management: Effortlessly monitor budgets across various locations and departments, manage expenditures, and generate reports that provide valuable insights. - Supplier Management: Improve the onboarding process for vendors and streamline approvals to mitigate potential risks. - Precoro can be integrated with ERP systems and business applications like NetSuite, QuickBooks Online, Xero, and Sage, or you can establish custom connections using a free API, effectively eliminating duplicate payments and manual document handling. With an intuitive interface, Precoro ensures that users can complete onboarding in less than six weeks without needing IT support. You can customize the system, scale your operations, and receive continuous assistance from your personal Customer Success Manager (CSM). Moreover, your data remains secure with single sign-on (SSO) and robust two-factor authentication, providing peace of mind while you manage your procurement needs.

CXP is a free and intuitive digital procurement platform that empowers businesses to gain comprehensive control and oversight of their indirect spending by enabling secure data uploads and providing detailed insights, benchmarking tools, and access to over 125 pre-negotiated supplier contracts. The platform enhances "total spend visibility" through thorough analyses of spending reported by suppliers, projected costs, and identifying possible hidden savings, while also delivering customized, data-driven recommendations to optimize sourcing in emerging categories and maintain alignment with industry standards and peer benchmarks. Users can navigate a catalog of validated contracts, allowing them to start realizing savings without facing the complexities of layered sourcing tiers or unforeseen costs. With no membership fees required, this platform seeks to improve procurement processes by making it easier for organizations to leverage large-scale purchasing power, thereby helping them reduce expenses and streamline procurement activities via a centralized self-service dashboard for spend analytics. This feature-rich approach positions CXP as a pivotal resource for organizations aiming to innovate their procurement strategies and enhance overall operational efficiency, while also encouraging smarter spending practices. Ultimately, CXP stands out as a vital ally for businesses striving to modernize and optimize their procurement functions.