Top Cofactr Alternatives

Finding the right supplier for your business is always a difficult task. 

Sourcing doesn't happen overnight.

There's a large list of activities you need to do from the moment you source a material to the time the final product is delivered to your customers.

So, yes, automating the process makes things easier. 

Cofactr is a source-to-pay platform known for being an ally of hardware companies seeking ways to improve their supply chain and procurement operations.

All of that is good, of course, but nothing is perfect. 

Especially when it comes to businesses' unique requirements.

Maybe you need a solution that's simpler to use for everyone on your team.  Or you are growing and want to work with a platform that scales as fast as you move.

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Whatever the case, we've got you covered.

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And, of course, we included ourselves in the top position.

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Top Cofactr Alternatives

Control Hub

One of the reasons why people seek Cofactr alternatives is that the platform isn't ideal if you want a user-friendly solution. 

Well, we just happen to thrive at simplifying things for procurement professionals. 

Control Hub cloud-based procurement software is changing the way P2P processes are seen by relying on the values that matter for growing companies: Efficiency, flexibility and agility.

Best features 

• Real-time collaboration with your team and suppliers
• Customizable purchasing workflows
• Invoice processing and 3-way matching. 
• Shipping  tracking
• Inventory visibility, the moment you need it. 
• User-friendly interface, everyone in your team can use Control Hub. 
• Fast onboarding so you don't waste weeks learning how to implement it. 

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Netstock

But what happens when more than procurement automation, you need a complete solution to make your business smarter regarding inventory and supply chain management?

Then we find options like Netstock.

Netstock gives you powerful visibility and control over your stock levels, without the usual difficulty of traditional demand planning tools.

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Best features 

• Improve inventory processes with optimisation driven by AI.
• Full visibility into the supply chain.
• Simple to understand dashboards.
• A wide range of integrations.
• Supplier performance assessment.
• AI tools to predict demands with accuracy.
• Capacity planning 

Netstock Vs Cofactr 

Well, Cofactr is ideal for anyone who wants to deal with the technical parts of hardware procurement.

Netstock?

It is a provider of complete automation solutions regarding inventory control and demand planning. Think of it as the system that can help you to predict what you'll need, right when you are going to actually need it. 

It’s especially strong in environments where demand fluctuates and where managing working capital is a priority

Pricing 

Pricing is custom-based and is not listed on their website.

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Corcentric

Want to move the focus to financial management?

Let's discuss Corcentric 

Corcentric is a good choice for every business that needs to work around the whole S2P cycle. From making sourcing simpler with relevant integrations, to contract management, payments and even customer relationships. 

It's really meant to be a one-platform solution to digitise all the most important business processes.

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Best features 

• All-in-one platform 
• Automated AP and AR processes.
• Immediate access to relevant data.
• Source-to-pay full solutions.
• Purchasing workflows
• Option to work with professional consultants in key areas like procurement and supply chain management.

Corcentric Vs Cofactr 

Corcentric gains points in the comparison in terms that's a more complete alternative. 

Corcentric describes itself as a platform designed to help businesses have better financial control across their transactions. So if that's something your company could benefit from, you'd do well in considering it instead of Cofactr. 

Pricing 

Corcentric works with personalized pricing packages. 

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Coupa 

Are you a large company whose operations span different locations and projects?

Coupa might be the solution you're seeking.

A big name made for the biggest companies out there, Coupa is a unified platform prepared for taking care of everything on a large scale. From purchasing to both indirect and direct spend management, the system is a true leader of automation.

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Best features 

• Source to pay full digital solution.
• AP automation 
• Inventory optimisation.
• Advanced sourcing features.
• Global payments made simpler.
• Virtual cards
• Expense management 
• Fraud detection 

Coupa Vs Cofactr 

If your business requires a global solution that covers procurement, invoicing, expenses, and analytics, just to name a few.

Coupa provides that with deep expertise.

Its strength lies in automating and optimising financial processes, making it ideal for large businesses aiming to enhance efficiency and control over their spending

Pricing 

As with any other platform built for large companies, Coupa pricing tends to err on the pricey side of things.

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SAP Arriba

And speaking about global operations and software alternatives that seem to have been in the market forever. 

SAP Ariba is one of the most important names in the procurement software industry. It comes with as many features as you can imagine.

Ariba connects buyers and suppliers in one of the world’s largest B2B networks.

Best features 

• Works naturally with SAP systems. 
• A huge supplier network. 
• End-to-end sourcing and procurement tools.
• Deep level of spend visibility.
• Compliance 
• Risk management 
• Contract lifecycle management 

SAP Ariba Vs Cofactr 

SAP is a big name, and you can tell the difference almost immediately.

It's especially created for enterprises whose regular pace involves dealing with large volumes of procurement data. 

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Pricing 

SAP Ariba doesn't include its pricing information on the website, but as with any other giant in the software industry, you can expect it to be expensive.

Final Thoughts 

Choosing a Cofactr alternative isn't difficult if you know what you are looking for.

And while it's true that every business has different priorities depending not only on their industry but at what stage of development they are, there's something most of them have in common.

They don't have time to waste.

If that resonates with your company, it's definitely worth it to consider Control Hub as the best choice. 

Fast, intuitive and powered by analytics that matter for your processes, Control Hub procurement software is here to make everyone's lives easier.

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