Procol Features
What are the features of Procol?
Supplier Marketplace
- Library
- Categorization
- Data Management
Contract Management
- Compliance
- Revenue
- Negotiations
Data Collection
- Spend
- Compliance Reports
- Savings
Project Management
- Dashboard
- Repository
- Lifecycle
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Procol Categories on G2
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Setup
Data | Consolidates procurement data from multiple systems such as ERP systems and supply chain suites. | Not enough data | |
Approvals | Define rules and workflows that managers can use to approve different kinds of spending. | Not enough data | |
Alignment | Align spending across various departments such as procurement and accounting. | Not enough data |
Performance
KPIs | Provide standard spend KPIs that can be customized by users. | Not enough data | |
Benchmarks | Use historical spend data to create benchmarks per company or department. | Not enough data | |
Forecasting | Provide forecasts on future trends that may impact spending performance. | Not enough data | |
Savings | Identify savings opportunities per activity, department, or at the company level. | Not enough data |
Data Management
Consolidation | Consolidate information from multiple sources or multiple entities | Not enough data | |
Classification | Classify information by category, supplier, or supplier | Not enough data | |
External Sources | Integrate with external sources for market intelligence | Not enough data | |
Integration | Integrates with ERP systems general ledgers for transfering of AP transaction data | Not enough data | |
Cleaning | Ability to cleanse and consolidate AP data | Not enough data |
Analytics
Benchmarking | Provide benchmarking options for comparison with peers | Not enough data | |
KPIs | Include standard spending KPIs that can be customized | Not enough data | |
Compliance | Deliver reports for compliance purposes | Not enough data | |
Errors | Analysis that identifies errors in AP processes such as duplicate payments, anomalies, and fraud | Not enough data |
Recovery
Historical payments | Approve, reject, or query historical payment transactions to identify anomalies | Not enough data | |
Overpayments | Recover overpayments, duplicate payments, or unused credits from suppliers | Not enough data |
AP Data Processing
Workflows | Constantly evaluate AP transactions to optimize workflows | Not enough data | |
Transparency | Improves management oversight by reconciling external data against internal transaction data | Not enough data | |
Controls | Strengthens process controls by using analysis to proactively reduce errors before they happen and detect fraud risk | Not enough data |
Payment Cards
One-time Virtual | Online credit card number that can be instantly sent to employees and used for secure, one-time purchases | Not enough data | |
Recurring Virtual | Online credit card number that can be instantly sent to employees and used for secure, recurring payments, such as subscriptions or services | Not enough data | |
Physical | Physical credit cards used by employees for various expenses that allow management to monitor spending and budgets | Not enough data |
Reporting
Real time | Report on spend transactions as they happen in real time | Not enough data | |
Multiple Views | Reports that allow the user to sort and filter by vendor, team, GL, department, etc. | Not enough data | |
Export | The ability to export reports in various formats, such as excel, CSV, and Google Sheets | Not enough data | |
Budgets | Report on and track spending against budgets | Not enough data |
Payments
Vendor | Pay vendors through a dashboard or portal and maintain vendor payment information | Not enough data | |
Recurring | Manage and execute recurring payments, such as subscriptions, services, utilities, etc. | Not enough data | |
Employee Reimbursements | Reimburse an employee for all necessary expenditures or losses incurred by the employee within the employee's scope of employment | Not enough data | |
ACH | Allows for the electronic transfer of funds between banks | Not enough data |
Fraud & Risk Management
Notifications | Real-time notifications for fraudulant and/or duplicate spending | Not enough data | |
Unique Cards | Individual, unique cards for each vendor to help manage duplicate and overpayments | Not enough data | |
Controls | Control spend limits, expiration dates, and lock and unlock stolen or lost cards | Not enough data |
Supplier Marketplace
Library | Provides a centralized library containing product data. This feature was mentioned in 20 Procol reviews. | 89% (Based on 20 reviews) | |
Categorization | As reported in 21 Procol reviews. Enables users to assign custom categories to products. | 90% (Based on 21 reviews) | |
Data Management | Creates and manages product catalogs. This feature was mentioned in 21 Procol reviews. | 92% (Based on 21 reviews) |
Contract Management
Compliance | As reported in 21 Procol reviews. Assists with maintaining compliance with controlled processes, automated tracking, and audit trails. | 93% (Based on 21 reviews) | |
Revenue | Identifies revenue opportunities by providing better visibility into spend data, improving supplier relationships, streamlining procurement processes, and identifying cost savings opportunities This feature was mentioned in 22 Procol reviews. | 92% (Based on 22 reviews) | |
Negotiations | Provides organizations with the tools and data they need to negotiate contracts more effectively, such as data analysis, collaboration, and contract management. This feature was mentioned in 22 Procol reviews. | 91% (Based on 22 reviews) |
Data Collection
Spend | Based on 21 Procol reviews. Increases spend visibility into pricing and unintended or excessive use of discounts or promotions by customers. | 92% (Based on 21 reviews) | |
Compliance Reports | Identifies noncompliant spending, fraud, and other activity outside of company policy. 20 reviewers of Procol have provided feedback on this feature. | 94% (Based on 20 reviews) | |
Savings | Analyzes spending patterns and identifies areas to reduce costs. 21 reviewers of Procol have provided feedback on this feature. | 93% (Based on 21 reviews) |
Project Management
Dashboard | Provides a dashboard for searching and reporting on contracts and projects. 22 reviewers of Procol have provided feedback on this feature. | 89% (Based on 22 reviews) | |
Repository | Based on 21 Procol reviews. Manages contracts in a single, online central repository. | 88% (Based on 21 reviews) | |
Lifecycle | Based on 21 Procol reviews. Manages the entire contract lifecycle process by providing visibility into projects and allocating resources across sourcing initiatives. | 89% (Based on 21 reviews) |
