--- title: "penny Software Pricing, Alternatives & More 2026 | Capterra" description: "With the help of Capterra, learn about penny Software - reviews, pricing plans, popular comparisons to other Procurement products and more." source_url: "https://www.capterra.com/p/218019/penny/" page_type: "product" language: "en" --- # penny Software Review 2026: Features, Reviews, Integrations, Pros & Cons Last updated on August 20, 2026 Provider data verified by our Software Research team, and reviews moderated by our Reviews Verification team. [Description](#description)[Use cases](#use-cases)[Alternatives](#alternatives)[FAQs](#faqs)[Features](#features)[Pricing](#pricing)[Support](#support)[Reviews](#reviews) penny ## What is penny? Penny is a cloud-based procurement system that automates sourcing and Procure-to-Pay workflows end-to-end. Built for enterprise teams, Penny replaces scattered emails, spreadsheets, and disconnected approval chains with a single connected workflow, from request to payment. With Penny, procurement teams gain full visibility and control over spend, faster sourcing cycles, and measurable savings, without needing to switch systems at any stage of the process. Key Features Automated RFQ/RFP creation and distribution AI-driven supplier comparison and scoring Automated internal approval routing Purchase order (PO) issuance and tracking Goods receipt notification (GRN) and 3-way invoice matching Real-time budget tracking with predictive alerts Consolidated spend reporting and savings analytics Full purchase history and audit trail ## What is penny used for? [Sourcing](https://www.capterra.com/sourcing-software/)[Procurement](https://www.capterra.com/procurement-software/)[Purchasing](https://www.capterra.com/purchasing-software/) Top alternative Featured Overall rating Based on 1 user reviews Reviews sentiment Positive \- Neutral \- Negative \- ### Starting price Free trial not available Capterra Shortlist charts the highest-rated and most popular products... Our "Best of" badge program showcases products with the highest ratings... Our "Best of" badge program showcases products with the highest ratings... Do you work for penny?[Manage this product listing](https://www.g2.com/products/penny/claim_requests/new?auto=true) ## penny Overview Updated August 2026 AI summary Penny is a cloud-based procurement solution designed for businesses of all sizes seeking greater control over purchasing and vendor management. It covers key areas such as requisition management, spend analysis, and contract administration, while offering advanced features like AI Copilot, customizable workflows, and real-time analytics. Penny supports sourcing, RFP processes, and integrates permissions, compliance, and audit capabilities. ## Compare with a popular alternative Capterra selects software alternatives based on relevant features, verified user reviews and user interactions. Placement may be influenced by client status. ### penny 5.0 (1) VS. [4.5 (109)](https://www.capterra.com/p/136077/Tradogram/reviews/) Starting Price Contact vendor Starting Price Contact vendor Free Trial Free Version Pricing Options Free Trial Free Version Ease Of Use 5.0 (1) Ease Of Use 4.5 (78) Value For Money 4.0 (1) Value For Money 4.6 (70) Customer Service 5.0 (1) Customer Service 4.5 (74) ## penny alternatives [4.7 (423)](https://www.capterra.com/p/136321/ProcurementExpress-com/reviews/) Starting price $415.00 Per User, Per Month Pricing Options Free Trial Free Version User Rating 98% of reviewers rated it above 4 stars Highest Rated [4.8 (255)](https://www.capterra.com/p/148522/Precoro/reviews/) Starting price $499.00 Per User, Per Month Pricing Options Free Trial Free Version User Rating 100% of reviewers rated it above 4 stars [TYASuite](https://www.capterra.com/p/190444/TYASuite/) [4.2 (78)](https://www.capterra.com/p/190444/TYASuite/reviews/) Starting price $65000.00 Per User, Per Month Pricing Options Free Trial Free Version User Rating 81% of reviewers rated it above 4 stars [Learn More](https://www.capterra.com/p/190444/TYASuite/) [Workday Strategic Sourcing](https://www.capterra.com/p/275506/Workday-Strategic-Sourcing/) [4.8 (4)](https://www.capterra.com/p/275506/Workday-Strategic-Sourcing/#reviews) Starting price $250.00 Per User, Per Month Pricing Options Free Trial Free Version User Rating 100% of reviewers rated it above 4 stars [Learn More](https://www.capterra.com/p/275506/Workday-Strategic-Sourcing/) ## FAQs about penny Overview ### What company size and specific industries is penny built for? penny is designed for medium to large enterprises that want to replace fragmented, manual procurement processes with a unified procurement cloud. It is built for organizations across industries that manage purchasing at scale and need consolidation and automation rather than a sector-specific workflow. Features and Usability ### What are the key features of penny? penny offers procurement and spend management features such as requisition management, purchase order management, invoice processing, expense tracking, and budget control. It also includes contract lifecycle management, supplier management, approval workflow, audit trail, real-time reporting, and API and ERP integration for connecting financial and sourcing data. Getting Started and Support ### What training and onboarding options does penny offer? penny provides in person training, live online sessions, documentation, and videos to help teams get started. In person and live online formats support guided instruction, while documentation and videos offer self-paced reference materials for learning features and reviewing setup steps. Getting Started and Support ### What customer support options does penny offer? penny provides Email/Help Desk, FAQ/Forum, Knowledge Base, Phone Support, and Chat. Without reviewer feedback on support experiences, no claims can be made about response times, helpfulness, or common frustrations. These channels describe the support options listed in the catalog for users seeking product help. ## Features AI summary Based on 1,007 Procurement reviews Capterra data shows that buyers of procurement software rank the following features as their top priorities: - **Approval Process Control** (**50%** of reviewers rated this feature as critical) - **Spend Control** (**43%**) - **Purchase Order Management** (**48%**) penny supports all three of the features reviewers consider most important: **Approval Process Control**, **Spend Control**, and **Purchase Order Management**. Together, these capabilities help businesses manage purchasing workflows, keep spending within policy, and track purchase orders more effectively, allowing teams to maintain oversight and make procurement decisions with greater confidence. Purchase Order Management 5.0 (1) 0.00% of 1 reviewers that rated this feature as important or highly important Create, send, and track purchase orders and their statuses Workflow Management 5.0 (1) 0.00% of 1 reviewers that rated this feature as important or highly important Create, design and manage workflows for repetitive tasks Access Controls/Permissions 4.0 (1) 0.00% of 1 reviewers that rated this feature as important or highly important Define levels of authorization for access to specific files or systems Procurement Management 4.0 (1) 0.00% of 1 reviewers that rated this feature as important or highly important Organize and manage all processes/procedures involved in purchasing goods and/or services Supplier Management 4.0 (1) 0.00% of 1 reviewers that rated this feature as important or highly important Manage all supplier data and operations Transaction History 4.0 (1) 0.00% of 1 reviewers that rated this feature as important or highly important Record of all transactions such as purchases, deposits, withdrawals and transfers within a specific period penny 87 features ### All Features - Access Controls/Permissions: Define levels of authorization for access to specific files or systems - Activity Dashboard: Dashboard to view the status of ongoing processes, identify current incidents and track past activities - Activity Tracking: Track and document all activities across devices, networks, and other systems - AI Copilot: A virtual assistant that uses AI to pursue goals and complete tasks on behalf of users - Alerts/Notifications: Alerts or notifications of various types such as pop-up messages, sounds, banners, or badges - API: Application programming interface that allows for integration with other systems/databases - Approval Process Control: Manage the process of evaluating documents or requests submitted for approval - Approval Workflow: Route documents and other data through one or more stakeholders for review and approval - Audit Management: Plan, schedule, and execute organization's accounts and assets to ensure compliance with policies and laws - Audit Trail: A record of all activities within the system, including user access, changes made, etc. - Automatic Formatting: Automatically formats data in a predetermined way - Bid Management: Share bid details, archive bids, and create bid requests to assist in bid solicitation and quote comparison - Billing & Invoicing: Create, manage, and send invoices or bills to customers - Budget Control: Manage and monitor spending to align with the financial constraints or goals - Budget Management: Forecast, allocate funds, organize financial resources and report & analyze project's income and expenditure - Budgeting/Forecasting: Create budgets based on historical data and future projections - Catalog Management: Create and manage digital catalog of products/services with their details, specifications, and price - Compliance Management: Track and manage adherence to policies for any service, product, process, or supplier - Configurable Workflow: Configure existing workflows to meet your organization's needs - Contact Management: Manage, organize, and store contact information - Content Management: Handles digital content throughout its lifecycle, from creation and storage to distribution and archiving - Contract Lifecycle Management: Organize, track, and automate the entire contract process - Contract/License Management: Track, store, and access client contracts or licenses - Customizable Reports: Alter the layout and content of reports - Customizable Templates: Pre-designed layouts that can be customized to match preferences and requirements - Data Import/Export: Import and export data to and from software applications - Document Automation: Automated or logic-based workflows that assist in the creation of electronic documents - Document Management: Store, manage, and track all electronic documents in a centralized location - Document Review: Review and analyze existing information across documents - Document Storage: Store and organize documents in a centralized system - Document Templates: Customizable sample documents that contain placeholder text or a standard layout that can be repeated for each new file - Due Date Tracking: Ability to identify, sort on and alert participating parties about the approaching date by which action has to be taken - ERP integration: Integrate with existing ERP systems - Expense Tracking: Monitor and record expenses such as purchases or charges incurred - Financial Management: Plan, manage, and track the financial activities of an individual or organization - Financial Reporting: Generate reports to assess the financial performance of an organization - Generative AI: Use AI to generate content in the form of text, images, videos, etc. - Global Sourcing Management: Procure goods, materials, or services from international suppliers - Integration Management: Identify which applications need to exchange data and enable these data connections - Invoice Management: Captures invoice data and maintains comprehensive records for auditing and reporting purposes - Invoice Processing: Creation, processing, verification, and execution of invoices till the payment is made - Knowledge Library: A repository of previously used/received RFP questions with responses - Multi-Currency: Manage and handle various international currencies - Multi-Location: Manage and support multiple locations - Onboarding: Process of familiarizing new clients, stakeholders or employees with the company, a new location, or a service - Order Management: Manage and track customer orders for goods, investments, or any other purchases - Order Tracking: Track orders throughout the fulfillment process - Performance Metrics: A set of indicators that tracks the performance of networks, applications, systems, teams, etc. - Procurement Management: Organize and manage all processes/procedures involved in purchasing goods and/or services - Progress Tracking: Reporting on how each user, task or process has advanced since its initiation - Proposal Generation: Create proposals based on costs of labor and materials - Purchase Order Management: Create, send, and track purchase orders and their statuses - Purchasing & Receiving: Workflows that help acquire inventory, issue purchase orders and receive and store items in required quantity - Purchasing Reports: Reports that analyze a company's purchasing activities, including purchases made, suppliers used, and expenses incurred - Quotes/Estimates: Generate quotes or estimates for customers - Real-Time Analytics: Analyze and gain insights into data in real-time - Real-Time Data: Receive data and information in real time - Real-Time Notifications: Notifications that are delivered to users as soon as an event occurs - Real-Time Reporting: Active reporting of data and metrics - Receipt Management: Upload, track, and submit receipts in a central database - Receiving: Manage all receiving processes within a warehouse - Reimbursement Management: Manage compensation for out-of-pocket expenses incurred by an employee, client or another party - Reminders: Timed notification for any upcoming task, deadline, appointment, or activity - Reporting & Statistics: Collection, analysis, and representation of numerical data and generation of reports to understand various patterns - Requirements Management: Enables creation, management, and tracking of product requirements & features during product production/development - Requisition Management: Review, approve and cancel requests for goods/services to be purchased - RFP Creation: The process of creating a questionnaire and submitting it to prospective vendors. - RFP Responding: The process of creating proposals in response to requests received from potential clients - Rfx Management: The process of submitting requests for quotes, proposals, information, etc. - Rules-Based Workflow: Automates and streamlines business processes by creating a sequence of predefined rules and actions that govern the flow of work - Search/Filter: Search and filter data across systems to locate required information by entering keywords or certain criteria - Self Service Portal: Online portal through which end users can access the system, manage tasks, or obtain information - Sourcing Management: Negotiate best prices and choose the right vendor for various purchases - Spend Analysis: Review and uncover trends in spending activity - Spend Control: Set allowances and ensure employees don't spend more than the allotted amounts - Spend Management: Track the amount of money spent on a certain product or with a certain supplier - Supplier Management: Manage all supplier data and operations - Supplier Qualification: The process of assessing potential suppliers based on required credentials, quality standards, etc. - Supplier Risk Management: Identify, assess & manage risks that could arise from working with third-party suppliers to protect against disruptions in supply chain - Task Management: Create, manage and track all task activities and progression - Template Management: Create, save, and re-purpose templates for emails, forms, etc. - Templates: Sample files or documents that could be customized as needed or used as is - Time & Expense Tracking: Log and record hours worked and costs spent to assist in billing and invoicing - Transaction History: Record of all transactions such as purchases, deposits, withdrawals and transfers within a specific period - Vendor Management: Ability to track and store all vendor-related information, such as contacts, services offered, terms, etc. - Vendor Master Data Management: Create and maintain quality vendor data through data validation, maintenance, and audit trails to ensure proper compliance and sourcing - Workflow Management: Create, design and manage workflows for repetitive tasks --- Get Advice We can help you find the software with the features you need. Features 4.0 (1) 4.0 Based on 1 reviews ## Pricing Value for money 4.0 (1) ### Starting price Free trial not available Value for money 4.0 (1) 4.0 Based on 1 reviews Connect with a Capterra advisor for a free 15-minute consultation Get a personalized software list aligned to your business needs with guidance from our expert advisors. Our team has helped 1 million+ businesses like yours find options that fit their needs. ## Support, customer service and training options Customer Service 5.0 (1) Support - Email/Help Desk - FAQs/Forum - Knowledge Base - Phone Support - 24/7 (Live rep) - Chat Training - In Person - Live Online - Webinars - Documentation - Videos Deployment - Web - Android - iPhone/iPad Typical users - Freelancers - Small businesses - Mid size businesses - Enterprises Customer Service 5.0 (1) 5.0 Based on 1 reviews ## User reviews Overall rating 5.0 Based on 1 reviews Filter by rating 5(1) 4(0) 3(0) 2(0) 1(0) Mentioned topic Sorted by most recent RT Roshan T. Logistics Executive Automotive ### "Penny " 5.0 Overall Rating 5.0 5.0 Ease of Use 5.0 5.0 Features 4.0 4.0 Customer Service 5.0 5.0 Likelihood to Recommend 9/10 April 19, 2023 Overall penny is a great tool to make your work easy in regards to price comparison from different supplier. All data is in one place with great workflow starting from requestor to approval so everyone has the clear transparency about the job being carried. Pros User friendly, Good layout, Easy to navigate, Easy price comparison. Cons Remarks space is too small, Right click and open in new Tab feature should be enabled of RFQ,Immediate deactivation of link should be enabled, once any filter is applied and moved further on pressing back key filter is gone, Review source Non-incentivized review: any software user can leave a review for any product listed on our site. All submitted reviews are subject to our verification process prior to publication. ## Top-rated software of 2026 ### Fill out the form and we'll send a list of the top-rated software based on real user reviews directly to your inbox.