This Spend Matters PRO Vendor Introduction offers a candid take on ProcurePort and its capabilities. The brief includes an overview of ProcurePort’s strategic sourcing offering, a breakdown of what is comparatively good (and not so good) about the solution, a SWOT analysis and a selection requirements checklist for companies that might consider the provider.
ProcurePort offers a strategic sourcing solution that’s main focus is on configuring and managing RFX and auction processes. The vendor started out in 2011 as a reverse auction platform, later adding support for RFX creation and adjacent capabilities for contract and supplier information management (SIM). In 2018, ProcurePort acquired a separate P2P platform that it now sells under its brand, but the upstream and downstream solutions are separate products and not sold as a unified source-to-pay offering. (This analysis does not consider ProcurePort’s P2P product.)
The ProcurePort customer base includes both larger manufacturers and small companies (i.e., teams of two or three practitioners managing approximately $50 million in spend). Manufacturers in particular gravitate to ProcurePort for its ability to handle large item counts — ranging from 1,000 to 15,000 items in some cases — as well as its positioning as a competitively priced tool (single seats and bundles are priced significantly below those of S2P competitors like Coupa, Ivalua and Jaggaer).
In addition to its SaaS solution, ProcurePort also offers managed services for reverse auction management and spend analysis (e.g., spend classification).
Let’s take a deeper look at ProcurePort and its solution.