Purchasing management software platforms: what to look for in 2025

It’s 2025, which means finance and procurement leaders are under more pressure than ever to reduce costs, enforce policies, and manage spend without jeopardizing operations. 

More leaders are turning to purchasing management software to gain full control of their spend and stay audit ready, because manual processes simply can’t keep up. 

This article breaks down what purchasing management software is, what core capabilities to look for in 2025, and how to choose the right platform for your business.

What is purchasing management software?

Purchasing management software (often referred to as procure-to-pay or eprocurement software) is a digital solution that helps businesses control and automate the way they purchase goods and services. It replaces manual purchasing systems with automated workflows that span the entire purchasing and procurement cycle.

Used by finance and procurement teams, purchasing management software helps manage everything from purchase requests and approvals to purchase orders (POs), vendor tracking, invoice matching, and spend reporting. In 2025, it’s become a must-have tool for businesses looking to tighten spend control, improve purchasing accuracy, and reduce waste across departments.

In essence, this kind of solution makes the entire procure-to-pay process faster, more visible, and easier to govern.

Why more business leaders are relying on automated purchasing systems

The days of chasing down paper receipts, spreadsheet approvals, and untracked vendor spend are over. Business purchasing software is helping leaders gain full visibility into how money is being spent and where it’s going off track.

Here are a few of the most important gains:

• Time savings: An automated purchasing system eliminates manual data entry and speeds up the purchasing approval process.
• Greater purchasing control: Purchasing management software enforces your internal policies, spending limits, and vendor contracts at every step of the process.
• Reduced errors: Automation cuts out duplicate entries and overpayments that often result from disconnected systems.
• Better spend management: When you see spending trends clearly, you can reduce waste, consolidate vendors, and negotiate better pricing.
• More informed decision-making: Built-in spend analytics module and live dashboards support more informed purchasing and procurement strategies.

Top CFOs and procurement leaders are turning to automated purchasing software to achieve greater operational efficiency. 

Pain points that purchasing management software like Fraxion solves

Manual purchasing processes delay approvals, increase compliance risk, and leave finance teams with poor visibility into company spend. Here are the most common issues teams face before making the switch: 

• Approval delays that stall procurement
• Overspending due to lack of visibility
• Duplicate invoices and overpayments
• Unapproved purchases outside policy or contract
• Lack of accountability in the purchasing approval process
• Too much time spent on manual data entry
• Rogue spend due to decentralized purchasing
• No audit trail for compliance or vendor disputes

A purchasing system like Fraxion helps address each of these issues with built-in approval rules, budget checks, role-based access, and full spend visibility across every transaction.

Curious about what Fraxion’s purchasing software can do for your business? Contact our team.

Key features to look for in purchasing management software

If you’re evaluating the best purchasing software for your organization, these features are table stakes in 2025.

Automated, customizable workflows 

Intelligent automation increases the platform’s ability to adapt, learn, and execute tasks proficiently. This kind of technology helps automate functions like invoice intake and data extraction, which are typically prone to error and require manual intervention. 

Customizable workflows allow you to modify processes to your unique requirements. You can align the platform with specific purchasing policies, hierarchies, spend thresholds, and preferences. 

From simple to complex structures, these elements streamline operations and contribute to a more agile and responsive ecosystem. The result is a dynamic purchasing system that increases process efficiency while providing a level of control essential for effective management.

Real-time budget tracking

Real-time budget visibility is essential for proactive spend control. You can instantly see how each purchase request affects the available budget, before approving it. 

This level of visibility helps prevent overspending, supports smarter financial decisions, and keeps departments accountable to budget limits. It also gives finance teams the confidence that spending is aligned with strategic priorities.

User-friendly mobile access

Business doesn’t stop when your team is away from their desks. A mobile-friendly purchasing system lets you submit, review, and approve requests from anywhere, whether you’re in the field, working remotely, or on the move.

Faster approvals mean fewer delays, less back-and-forth, and better compliance with purchasing timelines. A mobile app that’s easy to use also improves adoption across your organization, making it easier to maintain consistency and control.

Advanced spend analytics and reporting

A standout feature of the best purchasing software platforms is advanced spend analytics powered by AI. These tools help you analyze purchasing trends, evaluate cycle times, and uncover areas of unnecessary spend.

With clear reporting dashboards and data you can trust, you can easily identify cost saving opportunities and process improvement insights. Look for a purchasing platform that helps you understand spending patterns clearly and support better forecasting.

ERP, accounting system, and vendor punchout integrations

Find a solution that seamlessly connects with your existing ERP, accounting systems, and vendor catalogs. These integrations help you avoid double entry and maintain accurate financial records.

Fraxion is a purchasing platform that supports over 50 ERP integrations, including Oracle NetSuite, Microsoft Dynamics Solutions, QuickBooks, Acumatica and more. It also supports vendor catalog integrations through PunchOut and PunchIn, including Amazon Business, Grainger, and Staples. 

Using integrated systems like Fraxion means faster reconciliations, consistent workflows, and a more connected procurement process from request to payment.

Obtain full visibility into every dollar your team spends. Explore all of Fraxion’s solutions. 

How to choose the best purchasing software for your business

When reviewing purchasing software platform options for your business, the first step is to identify and understand your purchasing needs. Here are some steps to guide your decision:

1. Assess your current process: Identify what’s slowing you down. Where are the bottlenecks? What manual tasks can be automated? What's taking more time than it should? 
2. Align with key stakeholders: Involve finance, procurement, and IT early on to make sure the software will meet cross-functional requirements.
3. Prioritize flexibility: Whether your company uses centralized purchasing, decentralized purchasing, or a mix of both, choose a platform that can support your structure. And if you choose to go with a hybrid model, Fraxion is a great choice.
4. Evaluate usability and support: The best purchasing software should be easy to use on a daily basis, with minimal training required. Check what onboarding, training, and support resources the vendor offers. 
5. Request a tailored demo: Look for platforms that can let you witness firsthand how their solution maps to your existing workflows. Ask vendors to show how their software handles your typical purchasing requests and approval paths.
6. Read third-party reviews: Peer feedback can expose real-world performance gaps and support quality. Look for patterns in feedback from verified review sites like Capterra and G2. Identify strengths, weaknesses, and potential challenges that users have encountered.

Why Fraxion is the best purchasing software platform in 2025

Fraxion is built for finance and procurement teams that want more visibility, stronger controls, and comprehensive workflows. It’s the best purchasing software platform for mid-sized businesses that need full control over operational spend—without slowing teams down.

Here’s why Fraxion stands out:

• All-in-one purchasing and procurement platform that combines request, approval, purchasing, and AP functionality in one place
• Real-time budget checks built directly into the approval process
• Mobile-first app so users can review and approve requests anytime, anywhere
• PunchOut and PunchIn support for compliant catalog purchasing, including Amazon Business
• Clear audit trails and policy enforcement built into every transaction
• AI-powered analytics that help you track, manage, and forecast spend accurately
• Integrates with over 50 ERPs and accounting systems to maintain accurate, connected data

Finance leaders choose Fraxion to reduce spend risk, save time, and improve the impact of purchasing on profitability, all while making the purchasing approval process easier for all parties involved.

Automate your purchasing and procurement process with Fraxion

Fraxion helps teams automate and manage the entire purchasing lifecycle with ease. With advanced reporting and mobile accessibility, Fraxion is the best purchasing management software designed for modern finance teams in mid-sized companies. 

Ready to improve your purchasing process, cut costs, and gain full visibility into business spend?

Book a personalized demo with Fraxion today.