Audience

Mid-sized and large organizations seeking procurement solutions from all over the world and across all sectors.

About Penny

Procurement solved.

penny is a cloud-based Procure-To-Pay system. Penny helps you digitize and manage your full procurement cycle. Make requests, send RFQs/RFPs to multiple vendors, compare quotations, send POs and even payment. Penny was designed to make things easy and consolidate all your organization’s spending needs into one intelligent system.
Certified by Procure Tech & Kearney Consulting as one of the 100 most innovative procurement solutions globally, you can be sure that procurement is made simple with penny.

How can penny help your organization save time & money?

● Streamline procurement means that requests, approvals, and POs won’t be lost in emails or offline.

● Product requests are more accurate through catalogs, avoiding purchasing errors.

● The platform makes it simple to extract and track the history and records of requests and purchases.

Pricing

Starting Price:
$1999 per month
Pricing Details:
Penny is a Modular System.
The price is determined by the modules chosen and the number of users.

Integrations

API:
Yes, Penny offers API access
See Integrations

Ratings/Reviews - 4 User Reviews

Overall 4.8 / 5
ease 4.8 / 5
features 4.5 / 5
design 4.2 / 5
support 4.8 / 5
More Reviews Write a Review

Company Information

Penny Software
Founded: 2019
Global
penny.co

Videos and Screen Captures

Play Video Action Board E-Sourcing Comparison Table Product & Catalogues Quotation Budget
Precoro
Precoro
(419 Ratings)
Precoro is a cloud-based solution to automate procurement and effectively manage spends. No more time-consuming manual procedures and human factor errors. Automated operations and centralized purchasing processes only. - Approve documents 2.5x faster from any device using email or Slack notifications to ensure your team gets everything on time. - Save up to 19% of your purchasing budget. Track discounts and only spend what was planned. Increase cash flow transparency and get precise analytics and insightful reports to plan your procurement strategy more thoughtfully. - Reduce manual data entry. Create, approve, and track POs just in a few clicks. Manage suppliers, item catalogs, inventory, and more within one platform. - Manage your procurement operations on the go with IOS and Android Mobile App. Get access to a 14-day free trial to make sure we’re the perfect fit for your business!
Learn more
CompareCoOps
CompareCoOps
CompareCoOps is the smart way for public agencies to access cooperative contracts, identify suppliers, get competitive quotes, and report on contract usage. It's transparent, easy, and free for agencies. Source cooperatives for suppliers of products and services across a wide range of popular categories. Save money and reduce risk while taking advantage of the benefits of cooperative purchasing. Simple tools guide you through creating a secure request. Easily compare responses from invited suppliers. Choose the winning quote and automatically let suppliers know of the outcome.
Learn more
Medius
Medius
Simplicity shouldn’t be complicated. Medius makes AP autonomous—using intelligent technology to reimagine how invoices move into and through your business via a process that you don’t have to touch and that gets smarter with every step. Automate the entire source-to-pay process with the Medius Accounts Payable suite. Simplify and automate your entire AP process by removing paper and manual invoice keying, matching, and processing. You’ll always have full visibility of invoices, spend and cash flow to ensure you can close the books on time, every time. Remove complexity, reduce fraud and save money by improving the payments process in your organization. Medius Pay overhauls the way you pay your suppliers, removing manual processes such as processing checks, and promotes automated working instead. Empower your procurement team with the tools they need to eliminate maverick spend.
Learn more
Promena
Promena
Founded in 2001, Promena stands out as a dynamic force in the digital transformation landscape, continually strengthening its global position through enduring partnerships and a growing customer base. This platform, armed with versatile modules, offers E-Sourcing to optimize sourcing activities with unmatched efficiency. E-Procurement streamlines procurement processes, ensuring cost-effectiveness. Contract Management simplifies handling complex contracts, enhancing compliance. Supplier Relationship Management nurtures robust supplier ties. Quick RFQ facilitates swift, precise quotation requests, boosting responsiveness. The Supplier Network fosters a thriving ecosystem for seamless supplier interactions. Together, these modules position Promena as an all-encompassing solution for contemporary business hurdles, advancing operational optimization and strategic growth. Embrace the change with Promena, and witness a transformation in business efficiency and relationships.
Learn more
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Product Details

Platforms Supported
SaaS
Chromebook
On-Premises
Training
Documentation
Live Online
Webinars
Videos
Support
Phone Support

Penny Frequently Asked Questions

Q: What kinds of users and organization types does Penny work with?
Q: What languages does Penny support in their product?
Q: What kind of support options does Penny offer?
Q: What other applications or services does Penny integrate with?
Q: Does Penny have an API?
Q: What type of training does Penny provide?
Q: How much does Penny cost?
Q: What pricing for support is available for Penny?
Q: What pricing for training is available for Penny?

Penny Product Features

Procure to Pay

Billing & Invoicing
Contract Lifecycle Management
Integration Management
Order Management
Vendor Management
Budgeting / Forecasting
Compliance Management
Financial Reporting
Inventory Management

Procurement

Bid Management
Budget Management
Catalog Management
Contract Management
Invoice Processing
Purchase Order Management
Receiving
Requisitions & Approvals
Sourcing Management
Spend Management
Supplier Management
Asset Management
Auction Management
Inventory Management
PunchOut

Purchasing

Catalog Management
Contract Management
Invoice Processing
Purchase Order Management
Requisitions & Approvals
Sourcing Management
Spend Management
Supplier Management
Compliance Management
Inventory Management
PunchOut

RFP

Bid Management
Collaboration
Data Import / Export
Due Date Tracking
Progress Tracking
RFP Creation
RFP Responding
Requirements Management
Templates
Vendor Management
Content Management
Knowledge Library
Task Management

Sourcing

Budget Management
Collaboration
Rfx Management
Spend Management
Supplier Management
Supplier Web Portal
Template Management
Auction Management
Global Sourcing Management
Supplier Qualification
Supplier Risk Management

Spend Management

Approval Workflow
Expense Tracking
Multi-Currency
Prepaid Cards
Procurement Management
Receipt Management
Spend Analysis
Supplier Management
Budgeting / Forecasting
Spend Control

Penny Reviews

Write a Review
  • A Penny User
    System Support Officer
    Used the software for: 1-2 Years
    Frequency of Use: Daily
    User Role: Administrator
    Company Size: 1 - 25
    Design
    Ease
    Features
    Pricing
    Support
    Probability You Would Recommend?
    1 2 3 4 5 6 7 8 9 10

    "Penny Review "

    Posted 2022-11-01

    Pros: The service provided by the account manager, the account manager is quite fast, responsive, cooperative, and bright.

    Cons: I don't like the communication channel via Slack because there is a difficulty in tracking the unresolved issues.

    Overall: Our experience was good but, sometimes there are lack of issues that need to be prioritized which causes constant delays.

    Read More...
  • A Penny User
    CFO
    Used the software for: 1-2 Years
    Frequency of Use: Daily
    User Role: Administrator
    Company Size: 26 - 99
    Design
    Ease
    Features
    Pricing
    Support
    Probability You Would Recommend?
    1 2 3 4 5 6 7 8 9 10

    "Penny SaaS"

    Posted 2022-06-23

    Pros: Penny software is Ease of use SaaS application which contains the following advantages:
    User friendly
    Monitor our spending
    Vendor Management
    Budget control

    Cons: So far i didn't find any major disadvantages of using Penny software.

    Overall: We can consider our experience with Penny Software a positive one since it helps us to reduce the amount of time we spend in managing our vendors portfolio and it saves us a lot of money.

    Read More...
    Reply from Penny
    Posted 2022-06-26
    Thank you for sharing this! We're happy to hear you had a good experience with Penny Software.
  • A Penny User
    Managing Director
    Used the software for: 1-2 Years
    Frequency of Use: Daily
    User Role: User, Administrator, Deployment
    Company Size: 26 - 99
    Design
    Ease
    Features
    Pricing
    Support
    Probability You Would Recommend?
    1 2 3 4 5 6 7 8 9 10

    "Managing Director"

    Posted 2022-06-20

    Pros: The overall concept, the ease of use, the ability to track and monitor all aspects of the procurement cycle, the simplicity of pricing and negotiating, the reminder features and much more.

    Cons: The filtering and searching of products could use more revamping to match how sophisticated the user experience are presented.

    Overall: Penny's software is a great tool to manage your procurement needs, and is smart enough to use for reports and tracking. For the right organization it can be a life saver.

    Read More...
    Reply from Penny
    Posted 2022-06-26
    Thank you for sharing your experience with Penny. This feedback will help in making the necessary improvements.
  • A Penny User
    G M
    Used the software for: 1-2 Years
    Frequency of Use: Daily
    User Role: Administrator, Deployment
    Company Size: 1 - 25
    Design
    Ease
    Features
    Pricing
    Support
    Probability You Would Recommend?
    1 2 3 4 5 6 7 8 9 10

    "Review"

    Posted 2022-06-20

    Pros: Ease of use. And ability to give permission to each user. And the ability to control all of my purchases. I think the overall the system is excellent and the technical support is excellent.

    Cons: I think the overall very good and the technical support is excellent.

    Overall: I think the overall is very good and the technical support is excellent and it helps me a lot for running my business.

    Read More...
    Reply from Penny
    Posted 2022-06-22
    We greatly appreciate your feedback. We're glad to hear you had a good experience with Penny
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