Procurify
Procurify is a Canadian software company headquartered in Vancouver, British Columbia, that provides a comprehensive, cloud-based Intelligent Spend Management platform. Founded in 2013, the company has established itself as a leading provider of procure-to-pay solutions specifically designed for mid-market organizations across a diverse range of industries. The core mission of Procurify is to give businesses proactive control and unprecedented visibility over all their spending. It achieves this by unifying the entire purchasing and accounts payable workflow into a single, user-friendly platform, moving companies away from fragmented and inefficient processes that rely on spreadsheets, paper forms, and email chains.
The company's platform is designed to be accessible to all employees within an organization, not just finance and procurement teams. By empowering every team member with the tools to make responsible and efficient spending decisions, Procurify helps businesses streamline operations, reduce rogue spending, accelerate approval times, and capture accurate, real-time data for strategic analysis. Recognized as a leader in its category by user review platforms like G2, Procurify manages billions of dollars in global spend for its customers. The company has a strong focus on leveraging artificial intelligence to automate manual tasks, provide deeper insights, and enhance the overall user experience.
Continue…Products and Services
Procurify's offerings are built around a modular and scalable platform. This structure allows organizations to start with the functionalities they need most and expand the platform's capabilities as their operational maturity grows. The ecosystem is comprised of the central Procurify Platform, which provides foundational services, and several distinct product modules that can be added to it.
The Procurify Platform
The Procurify Platform serves as the foundation for all product modules, providing a set of core functionalities that are essential for integrated spend management.
- Customizable Approval Workflows: A central feature that allows organizations to design and enforce multi-level approval chains for all requests, bills, and payments. Approvals can be routed based on user, department, location, dollar thresholds, and other custom conditions.
- Real-Time Budget Tracking: Provides budget owners and stakeholders with clear visibility into spend against predefined budgets. This helps prevent overspending by making budget data available during the approval process, not after the fact.
- Spend Analytics and Reporting: A powerful analytics engine, branded as Spend Insights, that centralizes all spend data. It features interactive dashboards and a conversational AI assistant, Spend Analyst, that allows users to query data using natural language to uncover trends and identify cost-saving opportunities.
- Integrations: Procurify offers ready-to-use integrations with major accounting and ERP systems, including QuickBooks (Online and Desktop), Oracle NetSuite, Microsoft Dynamics 365, and Sage Intacct. It also supports "PunchOut" catalogs with vendors like Amazon Business and Staples, allowing users to shop on a vendor's site with the purchase data seamlessly returning to Procurify for approval.
- Mobile App: A full-featured mobile application for iOS and Android that allows users to submit requests, approve orders, receive items, and manage expenses on the go.
Product Modules
Organizations can choose from several modules to build a solution tailored to their specific needs.
Purchasing: This is the core procurement module that manages the entire purchasing lifecycle. It allows users to create purchase requisitions, which are then routed through the predefined approval workflows. Once approved, the system can automatically generate and send purchase orders to vendors. It also includes vendor management capabilities and a receiving workflow to track the delivery of goods and services.
Accounts Payable (AP) Automation: This module is designed to streamline and automate the entire accounts payable process. It leverages AI for invoice data capture, significantly reducing manual data entry. Its key feature is automated two-way and three-way matching, which compares invoices against purchase orders and receiving records to ensure accuracy before payment is processed. The module also facilitates bill payments directly from the platform.
Expense & Card Management: This module addresses employee expenses and corporate card spending. It allows employees to submit expense reports and reimbursement requests. A key feature is the offering of Procurify Spending Cards (both virtual and physical), which provides a secure way to make purchases while giving finance teams real-time control and visibility over card-based spending.
Contract Management: This module provides a centralized repository for all vendor contracts. It uses AI to intelligently scan and upload contract details, saving time and reducing errors. The system tracks spend against specific contracts and sends automated notifications for upcoming renewal dates, helping to prevent missed deadlines and unwanted auto-renewals.
Professional Services
To ensure successful adoption and a quick return on investment, Procurify provides a range of professional services.
- Implementation and Onboarding: A dedicated team guides new customers through the setup process, including domain creation, configuration support, and tailored training plans.
- Integration Support: Procurify's solutions architects assist with setting up both direct and custom integrations using the platform's open API to ensure seamless data flow between Procurify and a client's existing technology stack.
- Ongoing Customer Support: Procurify offers continuous support to its customers to help them optimize their use of the platform and troubleshoot any issues that may arise.
