Looking for the best procurement software for multifamily operations? Here's a quick guide to help you decide. Procurement software simplifies vendor management, automates tasks, and improves cost control in multifamily property management. The market is growing fast, projected to hit $9.85 billion in 2025, with tools like Fohlio, DesignSpec, Precoro, and Archdesk leading the way.
Key Takeaways:
- Fohlio: Focuses on design and procurement integration for multifamily properties. Reduces costs by 32% and saves 8.5 hours weekly on tasks.
- DesignSpec: Excels in technical specifications for FF&E. Starts at $53/user/month.
- Precoro: Streamlines purchase-to-pay processes with real-time budget tracking. Plans start at $499/month.
- Archdesk: Tailored for construction-heavy projects, offering centralized procurement and project management.
Quick Comparison Table:
| Software | Best For | Starting Price | Key Features |
|---|---|---|---|
| Fohlio | Design and procurement integration | Custom pricing | Vendor management, real-time dashboards, templates |
| DesignSpec | Technical specifications | $53/user/month | FF&E focus, RFQs, shipment tracking |
| Precoro | Purchase-to-pay automation | $499/month | Budget control, mobile access, supplier portal |
| Archdesk | Construction-heavy operations | Custom pricing | Centralized procurement, project management |
Choose the software that aligns with your needs: Precoro for automation, Archdesk for construction, Fohlio for design integration, or DesignSpec for FF&E. Read on for detailed insights into each platform.
9 BEST PROCUREMENT SOFTWARE FOR SMALL BUSINESSES( Precoro,Procurify, Spendwise, Tradogram,Order.co)
1. Fohlio
Fohlio streamlines design and procurement processes, making it a powerful tool for multifamily property management. This platform integrates design with purchasing, automates key deliverables, and eliminates the chaos of managing multiple vendors and approval processes across properties. By addressing inefficiencies in multifamily operations, Fohlio helps teams work more effectively.
Its tools are particularly suited for the complex demands of multifamily supply chains, ensuring consistency across properties while meeting compliance requirements.
Features
Fohlio offers a range of features tailored to the needs of multifamily operators. A standout is its brand-compliant product and materials library, which ensures uniformity across all properties while adhering to compliance standards. The platform also provides procurement tools that let users track order statuses, compare quotes, and analyze historical purchasing data.
Some key functionalities include:
- Automated creation of procurement documents like purchase orders, quotes, proposals, and approval requests.
- An approved supplier contact book to simplify vendor management.
- Tools for tracking lead times and shipments, paired with real-time procurement dashboards to keep everyone informed throughout a project.
"Fohlio is a fully comprehensive tool that has streamlined the details of our procurement projects, enabling the whole team to work cohesively to keep track of design details, updates, budgets, and the progression of our projects. The tool has enabled us to easily collate, input, and deliver product information to our suppliers, customise client cost plans, and deliver cohesive presentations."
- Martha Short, Studio Coordinator, Johnson Naylor
The platform also includes project templates to standardize tasks like renovations and amenity upgrades. These templates ensure consistent specifications and accurate cost estimates across properties.
Fohlio’s impact is measurable: users have reported a 32% reduction in costs, a 21% decrease in lead times, and an average savings of 8.5 hours per week on specification tasks [2].
Integration
Fohlio seamlessly integrates with existing financial systems, making it easier to maintain accurate and up-to-date financial records without manual data entry. It acts as a central hub for vendors, clients, and internal teams, enabling real-time collaboration and controlled access based on user roles.
Scalability
Fohlio's architecture is built to scale, accommodating everything from single properties to portfolios with over 100,000 projects globally [1]. Its analytics and reporting tools grow more valuable as operations expand. For instance, a design firm used Fohlio to replace inefficient manual spreadsheets with automated purchase order builders and standardized templates. This shift allowed them to create a formal procurement system with clear procedures, eliminating data silos and reducing rework [4].
The platform’s custom workflows and collaboration features adapt to various organizational needs, making it a versatile solution for both small property managers and large multifamily operators.
2. DesignSpec
DesignSpec is a platform tailored for technical specifications, designed to meet the high standards of accuracy and consistency required in multifamily property management. While it shares some similarities with Fohlio in enhancing procurement processes, DesignSpec places a stronger focus on technical specifications rather than integrating design and vendor management tools.
Features
DesignSpec shines in handling detailed specifications and managing the complexities of multifamily property layouts. Key features include:
- Generating purchase orders directly from FF&E (Furniture, Fixtures & Equipment) specifications.
- Simplifying RFQs (Requests for Quotes) through vendor bidding.
- Shipment tracking to monitor quantities shipped and received.
- A web clipping tool for capturing product details directly from vendor websites.
- A client portal that enables stakeholders to review and update specifications with ease.
Pricing
- Studio: $53 per user/month
- Complete: $71 per user/month
- Pro: Custom pricing [3].
Integration
DesignSpec integrates seamlessly with QuickBooks, supports Slack notifications for streamlined communication, and offers an open API for further customization.
Scalability
Being a cloud-based platform, DesignSpec can grow alongside the needs of multifamily property managers. Its modular design allows teams to start with essential specification and procurement tools and expand functionality as requirements increase.
3. Precoro
Precoro simplifies procurement management by bringing together purchase-to-pay processes, workflow automation, and budget control, all tailored for multifamily businesses.
Features
Precoro consolidates procurement tasks like purchase requisitions, vendor proposals, warehouse requests, invoice payments, and vendor onboarding into one platform. It offers customizable approval workflows that align with your organization's structure and compliance needs, ensuring smooth operations[6][8].
With real-time budget tracking and automated alerts, property managers can stay ahead of overspending. The platform also includes robust vendor management tools, enabling detailed supplier profiles and performance monitoring. A dedicated Supplier Portal streamlines communication between property teams and vendors[7]. Plus, mobile access ensures that requisitions, approvals, and delivery tracking can be managed on the go[8].
These features provide a comprehensive solution for managing procurement efficiently.
Pricing
Precoro offers tiered pricing plans designed to meet the needs of different organizations:
- Core: $499 per month (billed annually)
- Automation: $999 per month (billed annually)
- Enterprise: Custom pricing (billed annually)[11][12]
The Core plan covers essential tools like purchase order management, invoice handling, budget tracking, and reporting. The Automation plan includes advanced workflow automation and ERP/accounting system integrations. For businesses with unique needs, the Enterprise tier offers tailored solutions, including custom workflows and configurations[11][12].
Integration
Precoro integrates with widely used accounting systems such as NetSuite, QuickBooks Online, Xero, and Sage, reducing manual data entry and minimizing payment errors[9][10]. Its open API also supports custom integrations, allowing businesses to connect with specialized property management tools or other industry-specific software[5][10].
These integrations have been shown to reduce duplicate payments by up to 90% and help companies close their books twice as fast[9].
Scalability
Precoro is built to grow with your business, currently managing over $40 billion in spending across industries[5][6]. Whether you're a small property manager or a large real estate investment trust, Precoro adapts to your needs.
"Precoro is an ideal fit for scale-ups as it gives flexibility and control over your purchasing process when your organization evolves quite fast." - David Grimbert, CFO, Cheerz[5]
Its modular approach allows businesses to start with core procurement functions and expand as their portfolios grow. Multiple properties can be managed under a single account, though additional fees apply for activating new entities[12]. Users report 38% faster purchase-to-pay cycles, 80% less manual data entry, and approval workflows that are 3.5 times quicker than traditional methods[6].
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4. Archdesk
Archdesk is designed specifically for construction-focused procurement, making it a strong choice for multifamily development and renovation projects. By combining supply chain management with project management tools, Archdesk simplifies the complexities of procurement and project oversight for construction-heavy multifamily projects.
Features
Archdesk centralizes construction procurement by managing everything from material orders to subcontractor agreements. It provides full supply chain visibility, handling purchase orders, progress updates, and more. The platform’s document management system keeps all files in one place, with version control and controlled access for added security. Its scheduling and cost-control tools help optimize project timelines, monitor expenses, and protect profitability. Additionally, Archdesk handles commercial valuations, invoicing, and reporting, streamlining the entire process from procurement to payment [13].
"Using Archdesk to manage our bespoke joinery and construction projects was a game-changer for our business. By centralizing everything - project quotes, invoices, and client details - Archdesk saved time and significantly improved workflow efficiency. Highly recommended for any construction or manufacturing company looking to simplify their processes." – Grant D., Director [16]
Pricing
Archdesk offers personalized pricing tailored to the size of your company and the features you need. Many businesses have reported tangible benefits, with average annual savings of $150,000 due to better procurement efficiency and reduced administrative tasks [18][19]. Pricing is determined by factors such as portfolio size, project complexity, and integration requirements.
Integration
To ensure smooth operations, Archdesk integrates with popular accounting platforms and features an open API for custom integrations. Although a complete list of integrations isn’t provided, the open API allows connections with other industry-standard software commonly used in multifamily projects [17].
Scalability
Archdesk is built to grow with your business, accommodating mid-size companies and large enterprises alike. It unifies departments, projects, and subsidiaries, making it easier to manage expanding portfolios. For mid-size companies, the platform focuses on improving team collaboration, providing actionable insights, and supporting scalable workforce management as operations grow [19]. Archdesk consistently earns high user ratings, with scores of 4.5/5 on Capterra [16], 4.6/5 on GetApp [14], and 4.5/5 on Software Advice [15].
Software Comparison: Strengths and Weaknesses
Every procurement software brings its own set of advantages and challenges, particularly when it comes to multifamily operations. Understanding these differences is key for property managers aiming to find the ideal solution for their needs. Below, we dive into the specifics of two options: Precoro and Archdesk.
Precoro
Precoro shines with its advanced automation tools and high customer satisfaction. With over 1,000 companies relying on it, users report saving at least five hours weekly thanks to AI-powered OCR technology [5]. It also speeds up invoice approvals by 3.5 times [21]. The platform’s SOC 2 Type II compliance and an impressive user rating of 4.8/5 (based on 237 reviews) highlight its dependability [5] [20].
"Precoro gave us visibility and control over the multi-branch spending of our organization."
- Barend Liebenberg, Procurement Manager, Bolloré [5]
Precoro’s pricing starts at $499 per month for the Core plan, while the Pro plan costs $25 per user monthly [8]. It integrates seamlessly with many accounting and ERP systems, reducing manual data entry and enabling real-time budget tracking [8]. Additionally, Precoro is praised for its responsive customer support, resolving 96% of issues within two hours [21]. Its customizable approval workflows and document management features make it adaptable to more complex organizational structures [5].
Archdesk
Archdesk is designed specifically for mid-size to enterprise-level multifamily operations. It excels in consolidating procurement processes across departments and subsidiaries under one unified system [19]. This makes it an excellent choice for organizations looking to streamline their operations and improve overall efficiency. However, its limited mobile functionality can be a drawback for users who need to manage procurement tasks on the go.
Software Comparison Table
| Software | Key Strengths | Primary Weaknesses | Best For |
|---|---|---|---|
| Precoro | Advanced automation; faster invoice approvals; strong integrations | Limited workflow customization for complex setups; basic mobile app | Mid-size to large multifamily operators seeking automation |
| Archdesk | Unified procurement across departments; ideal for larger operations | Limited mobile functionality | Mid-size to enterprise multifamily operations |
Conclusion
Choosing between these two platforms comes down to your organization’s specific needs. For those prioritizing automation and efficiency, Precoro offers a streamlined, user-friendly solution. On the other hand, if your focus is on unifying procurement across multiple departments or subsidiaries, Archdesk may be the better fit. Consider factors like integration options, customer support, and scalability to make the best decision for your multifamily supply chain operations. These insights will feed into the broader evaluation in the conclusion.
Conclusion
Selecting the right procurement software for your multifamily operations is all about finding a solution that aligns with your scale and specific needs. The tools we've reviewed each bring unique strengths to the table, helping to centralize procurement and improve operational efficiency - key priorities for multifamily management.
Based on our analysis, Precoro stands out with a rating of 4.8/5, offering top-notch automation and customer support [25]. Its competitive pricing and user-friendly design make it particularly appealing for small to medium-sized operations looking to simplify their processes [22].
For larger enterprises, Archdesk excels in delivering advanced financial control and seamless procurement management across multiple departments [23].
If your organization has specialized FF&E requirements, Fohlio could be a strong contender, though it does come with a steeper learning curve [23].
On the other hand, DesignSpec caters to a niche audience with its Studio plan priced at $53 per user per month, but it may lack the robust procurement features needed for most multifamily setups [3].
The procurement software market continues to evolve, with an annual growth rate of 10.20%, signaling constant innovation [24]. As you weigh your options, consider key factors like integration with your current systems, scalability to accommodate growth, and the level of support your team might need during implementation.
For more detailed insights and guidance tailored to the multifamily industry, visit Big Multifamily Vendors.
FAQs
What should I look for in procurement software for managing multifamily properties?
When choosing procurement software for multifamily property management, it's essential to prioritize user-friendly design. Features like an intuitive interface and mobile access can make daily tasks much smoother. Beyond that, focus on tools such as automation, vendor management, and cost tracking to help streamline workflows and boost overall efficiency.
Another key factor is the pricing structure. Costs can vary widely, from as low as $10 to over $2,000 per month, depending on the software’s features and the size of your property portfolio. Selecting a solution that fits both your operational needs and budget can simplify procurement and help you achieve your business objectives in the U.S. market.
How do Fohlio, DesignSpec, Precoro, and Archdesk handle integration with financial systems?
Fohlio integrates seamlessly with QuickBooks and other financial systems using its API, ensuring smooth data synchronization. Precoro also connects with widely-used accounting tools like QuickBooks and Xero, offering an open API for ERP integrations. Archdesk takes it a step further with a RESTful API that works with ERP, CRM, and accounting platforms such as QuickBooks, Xero, and Sage. On the other hand, DesignSpec is more centered on project collaboration and specifications, though its financial system integration details are less clear.
How can procurement software help multifamily businesses save money and improve efficiency?
Procurement software offers multifamily businesses a practical way to cut costs and run more efficiently. By simplifying purchasing processes and giving a clearer picture of spending, it empowers property managers to negotiate better deals, standardize product options, and avoid unnecessary purchases - all of which help trim operational expenses.
On top of that, these tools automate workflows, streamline supplier relationships, and speed up transactions. This not only saves time but also minimizes manual mistakes. The outcome? A smoother, more cost-effective supply chain that allows businesses to focus on what matters most - providing excellent service to their tenants.
