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Procurify: Vendor Snapshot (Part 1) — Background and Solution Overview [PRO]

procurement

Procurify, a Canadian procure-to-pay (P2P) provider with a presence in 70 countries, is capturing a market not typically well-served by other vendors: small and medium-sized businesses that need e-procurement. While there are certainly many choices of e-procurement and P2P providers today, as Spend Matters’ E-Procurement and Procure-to-Pay SolutionMaps illustrate, there are few remaining choices that have not been acquired by a larger firm or that are tailored to the needs of SMBs. Such a solution would fall under the category of SolutionMap’s Nimble persona, and Procurify’s relative strengths in e-procurement, complemented by baseline AP automation functionality, such as invoice approval and traditional three-way matching, position it as perhaps an ideal match for this market need, as clients like Asana, Planet Fitness, Reliance Oilfield Services and Element Biosciences can attest.

This Spend Matters PRO Vendor Snapshot offers an introduction to Procurify, providing facts and expert analysis to help organizations make informed decisions about whether they should add this P2P provider to their shortlists. Part 1 of our analysis offers a company background and detailed solution overview, as well as a summary recommended fit suggestion for when organizations should consider Procurify. The remaining parts of this research brief will cover product strengths and weaknesses, competitor and SWOT analyses, and insider evaluation and selection considerations.

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