Low cost purchasing software – is it a myth?
And do any of these affordable solutions also have transparent pricing?
The answer is YES to both.
In the past, we’ve covered a whole range of different procurement software for the mid-market: from contract management, e-Sourcing, spend analytics to P2P tools.
There’s also our Tech Map for SMEs, which also contains a range of low cost purchasing software.
What we aim to do here is to shine a light on 13 solutions that are competitively priced AND are transparently showing their pricing on their website.
Low cost purchasing software enables you to introduce digital processes in pilot locations, if you’re part of a larger organisation but don’t have a budget. Try a simple, low cost procurement tool to get proof of concept, before moving up to a more comprehensive tech solution.
Whereas for SMEs, these applications can help to slash admin and email overload.
Some of these solutions can also be seen as add-ons to already existing procurement technology.
What is Considered Low Cost Purchasing Software?
So, how do we go about defining low cost software for procurement?
It will always be a somewhat subjective question, so we’ve included companies in this list that match at least one of the criteria below:
- Per-licence based pricing, enabling smaller procurement teams to have access to purchasing software without having to pay enterprise pricing.
- A “lite” or “basic” version of their higher priced product targeted towards SMEs or growth startups.
- “Pay-as-you-go” pricing model without being bound into a long-term contract.
Everyone we’ve listed in here has monthly pricing below $1,000 for the lowest tier of their product.
Now that we’ve cleared up the definition, let’s jump right in and introduce our 10 favourite low cost purchasing software apps.
1. Canopy
Canopy is a sophisticated Supplier Relationship Management (SRM) platform designed to enhance procurement operations. Created by OCG Software, this startup stands at the forefront of procurement innovation.
Canopy offers pivotal functionalities with modules dedicated to Data Management, Supplier Onboarding, and Lifecycle Management. These features are specifically tailored to support small procurement teams, providing a comprehensive toolset.
A notable standout feature of Canopy is its award-winning design and commitment to robust data security, being ISAE3402 SOC1 Type II certified. This highlights its unique position in the market.
The low cost purchasing software version of Canopy is their Canopy Connect product. This enables small procurement teams to get their vendor data and compliance in order for just £99 per month.
More comprehensive options are also available at a higher monthly cost, for those organisations to upgrade to as they mature.
Key Data:
- Founder / CEO: Nick Verkroost
- Date Founded: 2021
- Visit Canopy profile in our Software Finder
2. Precoro
Precoro is an innovative startup established in 2015, focusing on refining procurement and spend management across diverse industries.
The platform offers a comprehensive procure-to-pay system that integrates smoothly with other business tools. It supports essential procurement functions such as intake, purchase requests, orders, and approvals, making them accessible across various devices and locations. This versatility ensures it adapts to different business environments efficiently.
With a user-friendly design, it’s tailored to accommodate users from tech-savvy to those less familiar with digital tools too. This approach ensures a high adoption rate by simplifying the procurement process, making it accessible and efficient for all types of users.
Recently, Precoro has shown significant growth, managing $16 billion worth of purchase orders annually and expanding its reach to customers in over 67 countries.
Key Data:
- Founder / CEO: Andrew Zhyvolovych
- Date Founded: 2015
- Visit Precoro profile in our Software Finder
3. Proculy
Proculy is a customizable procurement management software designed to streamline and automate the entire procurement process, from intake to payment.
It offers features such as purchase requisitions, purchase orders, invoicing, payments, vendor management, contract management, and request for quotes. The platform also integrates with Amazon’s marketplace, providing seamless access to a wide range of products.
Proculy emphasizes workflow automation with customizable approval processes, ensuring compliance and efficiency. It supports integration with ERP, accounting, and service management software, facilitating unified workflows.
The platform is designed for easy implementation, offering a user-friendly interface and comprehensive training programs.
Key Data:
- Founder / CEO: Roshini Karunaratne
- Date Founded: 2023
- Visit Proculy profile in our Software Finder
4. Zapro
Zapro is a comprehensive software designed to streamline the entire procurement process. The cloud-based platform automates key functions such as vendor onboarding, contract management, purchase orders, invoicing, and spend analytics, improving both efficiency and visibility for businesses.
It integrates seamlessly with existing ERP systems, offering a unified platform for managing all procurement activities.
With features like strategic sourcing, supplier performance tracking, and invoice automation, Zapro enhances vendor relationships and supports data-driven decision-making.
By simplifying procurement tasks and providing real-time insights, it helps businesses reduce costs, improve procurement speed, and maintain control over their spending, making it an ideal solution for startups and growing companies.
Key Data:
- Co-Founder / CEO: Daniel Sagayaraj
- Date Founded: 2021
- Visit Zapro profile in our Software Finder
5. Hivebuy
Hivebuy is an innovative digital procurement platform for a streamlined purchasing process for mid-sized businesses. Established in 2021, the company has quickly made its mark in the digital procurement landscape.
Based in Germany, the platform specialises in procurement solutions, offering a comprehensive suite of tools that facilitate efficient order management, supplier integration, and spend analysis. These tools can support businesses in managing their purchasing activities more effectively, ensuring transparency and cost-efficiency.
What sets Hivebuy apart is its user-friendly interface and adaptability to various business needs, allowing seamless integration with existing systems. This flexibility, coupled with robust customer support, makes it a preferred choice for companies looking to optimise their procurement processes.
Hivebuy offers a strong foundation and innovative approach, and has potential to evolve further in the field of digital procurement for SMEs.
Key Data:
- Founder / CEO: Bettina Fischer
- Date Founded: 2021
- Visit Hivebuy profile in our Software Finder
6. Market Dojo
Market Dojo, founded in 2010, offers cutting-edge e-procurement software designed to revolutionise the sourcing and management of goods and services. The company offers user-friendly and efficient solutions tailored specifically for procurement professionals.
They aim to make sophisticated e-Sourcing tools accessible to all organisations, not just large enterprises.
Market Dojo’s software suite includes e-Sourcing, Opportunity Analysis, Project Management, Supplier Onboarding, Supplier Performance Management (SPM) & Supplier Relationship Management (SRM), Contracts Management, and Savings Tracking. These tools are designed to streamline procurement processes and enhance strategic capabilities within procurement functions.
A key differentiator for Market Dojo is its focus on creating cost-effective and user-friendly solutions, making advanced procurement tools accessible to a broader audience.
Key Data:
- Founder / CEO: Alun Rafique
- Date Founded: 2010
- Visit Market Dojo profile in our Software Finder
7. Yooz
Yooz, initiated in 2010 and formally established in its current format in 2014, operates out of France and the United States. This company provides a sophisticated, cloud-based e-invoicing and Purchase-to-Pay (P2P) automation solution, enhancing the efficiency of invoice processing and spend management.
The Yooz platform is distinguished by its integration with over 250 financial systems and its utilisation of artificial intelligence and deep learning technologies. These advanced capabilities enable the automation of over 80% of processing workflows, significantly reducing the need for human intervention.
Recognised for its contributions to fintech, Yooz has earned several accolades, including being named one of the “10 Best Cloud Solution Providers” by Industry Era, underscoring its status as a leader in financial technology innovation.​
Key Data:
- Founder / CEO: Laurent Charpentier
- Date Founded: 2010
- Visit Yooz profile in our Software Finder
8. Trakti
Trakti uses AI to power their contract negotiation and management platform. It also integrates with blockchain technology for enhanced security and efficiency.
Automation of the entire contract lifecycle, from creating adaptive templates to negotiating and managing obligations, is Trakti’s goal. With features like electronic signatures, smart contracts, and payment automation, Trakti helps businesses streamline and digitise their legal processes.
The platform supports a wide range of industries, including procurement, legal, HR, and sales, providing tools for seamless collaboration, tendering, and evaluation.
By reducing administrative overhead, Trakti accelerates deal closures and ensures full compliance, making it a comprehensive solution for organisations looking to optimise their contract management.
Key Data:
- Founder / CEO: Luigi Telesca
- Date Founded: 2016
- Visit Trakti profile in our Software Finder
9. Trackado
Trackado is a cloud-based contract management software that significantly streamlines the way businesses manage their contracts. Established in Solna, Sweden, Trackado has developed a robust platform that caters to both small and large enterprises worldwide.
The software boasts a variety of functionalities including centralised contract storage, automatic reminders for critical deadlines, and comprehensive financial transparency concerning contractual finances.
A standout feature of Trackado is its user-friendly interface, which allows users to efficiently manage their contracts with minimal training. Enhanced security measures keep sensitive data safe and private.
Key Data:
- Founder / CEO:Â Mark Zeise
- Date Founded: 2016
- Visit Trackado profile in our Software Finder
10. ProcurementFlow
ProcurementFlow is a dynamic low cost procurement software and automation platform. It centralises and streamlines procurement activities and communications for project-based procurement. The company focuses on revolutionising procurement processes through digital transformation to improve efficiency and speed.
The platform has comprehensive functionalities including requisition management, eSourcing, supplier relationship management (SRM), and workflow automation. It’s design enables it to handle the entire procurement process from requisition to payment. The aim is to reduce manual workload and enhance operational efficiency.
A standout feature of ProcurementFlow is its capability to quickly digitalise procurement teams, often within a day, allowing immediate improvements in procurement processes without the complexities of traditional setups.​
Key Data:
- Founder / CEO: Tarmo Saidla
- Date Founded: 2018
- Visit ProcurementFlow profile in our Software Finder
11. mysupply
mysupply is an AI-powered procurement platform that automates sourcing processes to enhance efficiency and savings. It supports tactical and tail spend automation, enabling businesses to focus on strategic procurement.
Features include AI-driven intake specifications, self-service sourcing, and autonomous sourcing, allowing users to automate repetitive tasks and improve procurement workflows.
The platform also offers smart negotiations powered by game theory and e-auctions, streamlining contract management.
By automating manual steps and reducing errors, mysupply helps businesses achieve significant savings and compliance while offering flexible integration with existing systems. Its modular structure lets companies choose features that suit their needs.
Key Data:
- Founder / CEO: Andreas Zimmermann
- Date Founded: 2020
- Visit mysupply profile in our Software Finder
12. p2connct
P2Connct streamlines intake processes for indirect procurement by guiding users through the ordering process. The simple intake system offers visibility into supplier documents, contract management, and compliance.
With features like supplier feedback collection, audit logs, and budget management, P2Connct ensures transparency and reduces procurement involvement in routine tasks.
The platform is scalable, allowing businesses to start with a smaller scope and expand as needed. It integrates with existing procurement processes, enabling companies to improve efficiency and user engagement.
P2Connct’s intuitive interface reduces training time and enhances supplier relationships, making it ideal for organisations aiming to mature their procurement operations.
Key Data:
- Founder / CEO: Anders Lassen
- Date Founded: 2023
- Visit P2Connct profile in our Software Finder
13. Buying Station


Key Data:
- Founder / CEO: Kavita Cooper
- Date Founded: 2016
- Visit Buying Station profile in our Software Finder
14. oboloo
oboloo is a user-friendly procurement software that provides companies with full visibility and control over their procurement processes.
Founded in 2019, the company has grown in the procurement software industry and is based in London, UK, benefitting from a rich business landscape and technological infrastructure.
The software features comprehensive functionalities including eSourcing, contract management, supplier management, and savings management. These tools empower users to efficiently manage sourcing activities, contracts, suppliers, and track savings.
A notable feature of oboloo is its intuitive design, which enables even non-experts to easily navigate procurement tasks without extensive training.
Recently, the platform gained recognition for significantly enhancing operational efficiencies and reducing procurement costs. oboloo thus seeks to become an established tool in procurement management for SMEs.
Key Data:
- Founder / CEO: James Lancaster
- Date Founded: 2019
- Visit oboloo profile in our Software Finder
15. Prokuria
Prokuria’s no-code software platform streamlines procurement, sourcing, and supplier management processes. It enables businesses to automate RFPs, reverse auctions, supplier onboarding, and performance tracking, resulting in increased efficiency and cost savings.
The platform is highly configurable, allowing businesses to tailor workflows to their specific needs without requiring technical expertise.
With a user-friendly interface and fast implementation, Prokuria simplifies procurement operations for teams and suppliers alike.
Its features include real-time supplier monitoring, contract repositories, compliance management, and customizable reporting, ensuring businesses can maintain strong supplier relationships and optimize their procurement strategies.
Key Data:
- Founder / CEO: Daniel Nitu
- Date Founded: 2015
- Visit Prokuria profile in our Software Finder