Top 5 Coupa Alternatives in 2023

Procure to Pay (P2P) software program is a fast-growing market. On this market scene with a excessive variety of P2P suites, Coupa is considered a mature vendor. It provides a monolithic resolution in P2P automation. But, companies searching for specialised procurement options could not discover Coupa as appropriate as different software program.

If you’re already utilizing Coupa, please keep in mind that P2P suite migration may be complicated. You may take a look at options like APAI so as to add extra functionality to Coupa and resolve your small business drawback and not using a lengthy migration program. For these contemplating deploying Coupa or reconsidering their Coupa set up, we’re itemizing Coupa’s prime alternate options.

Comparability of Coupa and 5 Alternate options

*Rankings and opinions are based mostly on Gartner Peer Insights, G2 and Capterra. Distributors who acquired extra opinions are ranked first.

**SAP Ariba’s subscription packages are based mostly on the overall variety of paperwork transacted in a yr. Bronze package deal consists of 5 to 24 paperwork or < $250,000. Silver consists of 25 to 99 paperwork; Gold consists of 100 to 499 paperwork and Platinum consists of 500 or extra paperwork.

Coupa overview

The Coupa Enterprise Spend Administration suite is obtainable by Coupa. Organizations looking for a single resolution that may deal with a wide range of use instances with out making main trade-offs could think about Coupa. As with all software program, Coupa has execs and cons.

Professionals:

Integration. One of many key advantages of adopting Coupa as a P2P resolution is its potential to combine with different programs, reminiscent of ERPs.

Fee capabilities. Coupa is the one of many main distributors for the monetary use case due to its fee processing capabilities. Prospects are given choices to extend the overall quantity of spend below monitoring by the use of deeply included digital card creation and approval routines that allow each in-application and offline use instances.

E-Buying. Coupa’s e-purchasing platform options probably the most punch-out catalogs that may be browsed and shopped from throughout the platform.

Fraud detection. With Coupa’s spend guard, companies can detect fraud, errors and flag suspicious exercise throughout all enterprise spend (Determine 1).

Cons:

Implementation could be a complicated course of, requiring time and assets to make sure a clean transition.

Prices. Coupa’s pricing mannequin could not align with small to mid companies’ budgetary necessities.

Studying curve. To the extent that Coupa provides complete options, its interface can also be complete. The shortage of in-app prompts could make it tough for brand spanking new customers to adapt. ²

Poor buyer assist. It might be difficult to accumulate immediate help from Coupa, as its customer support could also be restricted in sure international locations or for specific languages. Their assist is commonly pricey and falls wanting expectations.

Restricted customization. Though Coupa provides primary customization of workflows, in the case of particular necessities reminiscent of including customized fields, altering approval chains and extra, it might stay restricted.³

Person opinions:

Gartner Peer Insights: 4.6/5 based mostly on 632 opinions.⁴

G2: 4.2/5 based mostly on 279 opinions. ⁵

Capterra: 4.2/5 based mostly on 85 opinions. ⁶

1- SAP Ariba

Professionals:

Inclusive. SAP could be a sensible choice for companies looking for to handle all expenditure centrally by means of a single P2P suite.

Integration. One of many key advantages of selecting SAP Ariba is its potential to combine with different software program, reminiscent of ERP programs or different accounting software program.

Expense monitoring. With SAP Ariba, one can automate expense monitoring and streamline AP processes.

Superior analytics and reporting. SAP Ariba offers analytics functionalities. This enables companies to achieve essential insights into procurement processes and provider efficiency. With entry to real-time information and reporting dashboards, the decision-making processes may be improved.

Cloud-based. One other benefit of SAP Ariba is its cloud-based platform. Which means that the procurement system is accessible anytime, anyplace, with out the necessity for on-premise installations or infrastructure.

Cons:

Laborious to navigate. Utilizing SAP Ariba is a fancy course of for customers who shouldn’t have major expertise on the platform. (Determine 2). Which means that particular coaching could be required, which might be time consuming for companies. Additionally, the interface just isn’t very- consumer pleasant. In case of errors, customers may need to begin the entire course of from scratch.⁷

Gradual. The software program can slow-down in case of a excessive variety of POs and invoices. Invoices can get held up within the system which trigger complexities.⁹

Difficulties in approval processes. A few of the steps like enhancing of submitted or permitted buy requisitions and including further approvals may be complicated. Approval flows can take a very long time as guide suggestions approval is awaited.

Inflexible. The system can have difficulties in dealing with adjustments made in POs after they’ve initially been created. (Determine 3) 

General, regardless of cons, clients looking for direct assist for POs, stock administration, work orders can discover SAP helpful.

Person opinions:

Gartner Peer Insights: 4.2/5 based mostly on 353 opinions.¹¹

G2: 4.1/5 based mostly on 476 opinions.¹²

Capterra: 3.4/5 based mostly on 46 opinions.¹³

2-Basware

Basware is initially specialised in accounts payable automation however has later expanded to supply a complete Procure-to-Pay (P2P) suite, delivered by means of a multi-functional cloud.

Professionals:

Integration. The platform excels in automating Accounts Payable Bill Automation (APAI) and integrates easily with varied provider networks.

Its cloud-based character provides accessibility and scalability.

Sturdy concentrate on APAI. (accounts payable AI). Firm has a robust emphasis on using AI. The declare that the one-size-fits-all strategy of P2P suites can lock clients into suites with uneven high quality that may typically take years to roll out. Basware, thus providing a “microservices structure” will seem like an ecosystem of software plugins, operating off a core spend administration platform.¹⁴

Fraud detection. Use of AI and machine studying can improve fraud detection and expenditure administration actions.

Cons:

Implementation could require time and assets to make sure a straightforward transition.

Reliance on each third-party and in-house analytics instruments, which can complicate the analytics panorama.

Person opinions:

Gartner Peer Insights: 4.5/5 based mostly on 138 opinions.¹⁵

G2: 4.0/5 based mostly on 110 opinions.¹⁶

Capterra: 4.1/5 based mostly on 20 opinions.¹⁷

3- Oracle procurement cloud

Professionals:

Reporting. Oracle can present strong reporting functionalities with real-time information and reporting dashboards.

Person pleasant. Oracle’s interface is user-friendly. This makes it simpler for customers to adapt to the platform.

Scalable. Oracle provides scalable options that may cater to particular wants whatever the dimension of the enterprise.

Gives a variety of built-in options. Oracle offers a variety of enterprise options and cloud providers, together with Oracle Fusion Cloud Procurement, a part of Fusion Cloud Purposes suite. Accessible through a public cloud, this platform may be an possibility for organizations desirous to handle varied forms of spending.

Cons:

The software program would possibly want enhancements in providers procurement and provider collaboration.

Modules use effectivity. There are redundant fields throughout the modules. As an illustration, if an organization buys a whole finish to finish suite, as an alternative of having the ability to use particular person fashions when wanted, they are going to be confronted with a set of fashions the place transitions are tough and integration is weak.¹⁸

Lack of assist. Oracle’s assist is insufficient when the appliance experiences issues reminiscent of slowdowns or disorientation.

Person Opinions:

Gartner Peer Insights: 4.2/5 based mostly on 95 opinions.¹⁹

G2: 4.1/5 based mostly on 37 opinions.²⁰

Capterra: 4.2/5 based mostly on 5 opinions.²¹

4- PRM360

Professionals:

Synchronization. One of many benefits of PRM360 is, it offers degree of sync with ERP programs.

Customizable. PRM360 is a extremely customizable platform that gives options that permits companies to make quicker choices and finalize distributors. It provides complete automation with catalog administration, contract administration, RFQ course of and conducting public sale.

Vendor pleasant: In PRM360, distributors get notified if, for example, they’re shortlisted for quote submission. They will additionally get to know the standing of their quote submitted by utilizing the portal. They will view POs when talked about which eliminates the necessity to ship any mail to distributors for every PO.

Cons:

UI design. UI interface and the workflows are open to enhancements as, particularly first time customers get simple understanding of the device.²²

Gradual. The loading points can happen whereas loading high-numbers of information.

Person Opinions:

Gartner Peer Insights: 4.8/5 based mostly on 150 opinions.²³

G2: 4.8/5 based mostly on 140 opinions.²⁴

Capterra: N/A

5- Jaggaer ONE

JAGGAER’s JAGGAER ONE suite is a multi-functional cloud-based resolution.

Professionals:

Complete resolution. JAGGAER ONE offers a one-stop-shop for managing varied forms of spend, making it match for companies with numerous procurement wants.

Integration and E-Buying. The software program integrates nicely with exterior programs and provides above-average e-purchasing options.

Provider financing capabilities. One of many main advantages of selecting Jaggaer is its provider financing capabilities. With options reminiscent of early fee reductions and dynamic discounting, Jaggaer allows companies to optimize their working capital and strengthen relationships with suppliers.

Improved cash-flows. By providing versatile fee choices, Jaggaer empowers companies to barter higher phrases and enhance money move.

Specialised functionalities. Standout options embody integrations with product life cycle administration (PLM) and planning programs for direct supplies procurement.

Cons:

Third-Social gathering OCR suggestions: In keeping with a Gartner report, there was unfavorable buyer suggestions regarding its third-party optical character recognition (OCR) seize resolution.²⁵

Person opinions:

Gartner Peer Insights: 4.4/5 based mostly on 148 opinions.²⁶


G2: 4.4/5 based mostly on 27 opinions.²⁷


Capterra: 4.3/5 based mostly on 3 opinions.²⁸


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Discover the Proper Distributors

Exterior Hyperlinks:

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23. “PRM360 Simplified Procure-to-Pay Suite Opinions”, Gartner, Retrieved on September 11, 2023
24. “PRM360 Opinions & Product Particulars”, G2, Retrieved on September 11, 2023
25. “Essential Capabilities for Procure-to-Pay Suites”, Gartner, Retrieved on September 11, 2023
26. “JAGGAER ONE Opinions”, Gartner, Retrieved on September 11, 2023
27. “Jaggaer Opinions & Product Particulars”, G2, Retrieved on September 11, 2023
28. “JAGGAER ONE Sourcing Opinions”, Capterra, Retrieved on September 11, 2023