K2 Sourcing Platform vs Procol Strategic Sourcing
K2 Sourcing Platform
k2sourcing.comProcol Strategic Sourcing
procol.aiSide by side
| Figure | K2 Sourcing Platform | Procol Strategic Sourcing |
|---|---|---|
| Price from | — | — |
| Free plan | — | — |
| Free trial | Yes | Yes |
| Open source | — | — |
| Web | Yes | Yes |
| iOS | Yes | Yes |
| Android | Yes | Yes |
| API | — | Yes |
| Plans published | 2 | 2 |
| Spec score · Sourcing Software | 8.5 (#2) | 8.4 (#3) |
| Founded | 2003 | 2017 |
| Purpose | The Cloud Source eSourcing platform helps procurement teams run RFPs, RFQs, RFIs, reverse auctions, and supplier onboarding. | Procol describes its strategic sourcing platform as a collaborative tool to streamline sourcing, strengthen supplier relationships, and automate manual work. |
| Security | K2 Sourcing states that the application is encrypted, password protected and hosted on a SOC 2 compliant server. | Procol states that its platform is SOC 2 Type II certified, ISO 27001 aligned, GDPR compliant, and backed by cyber security insurance. |
| Spend analysis | The platform and services turn scattered spend data into categories, opportunities and sourcing priorities. | AI analytics combine spend data across systems to identify spending patterns, supplier-performance problems and sourcing gaps. |
| What it does | K2 Sourcing combines a cloud eSourcing application with managed RFP, RFQ, reverse-auction and strategic-sourcing services. | Procol presents Strategic Sourcing as a collaborative procurement platform for supplier sourcing, negotiations, contracts, approvals and spend decisions. |
Plans
K2 Sourcing Platform
- Customized subscription planPriced on request
- Custom subscriptionPriced on request
Procol Strategic Sourcing
- Custom modules and add-onsPriced on request
- Custom pricingPriced on request
In their own words
K2 Sourcing Platform
K2 Sourcing Platform is a web-based eSourcing application for procurement and strategic sourcing teams. It supports RFPs, RFQs, RFIs, reverse auctions and supplier onboarding. For RFPs, teams can create questionnaires and pricing models, assess supplier responses, evaluate submissions and consider award scenarios. Reverse auctions let suppliers bid against one another in real time. Supplier information tools cover RFIs, documentation, registration and approved supplier lists; the platform also supports supplier discovery, bid comparison and negotiation workflows. K2 says the application includes more than 100 RFP templates that users can clone and customize, and describes it as mobile friendly. K2 states that the platform is encrypted, hosted on a SOC 2 compliant server and has uptime over 99.9%. Account and project managers with sourcing experience provide customer support. Invited suppliers can join sourcing events without installing software or signing a software agreement. Plans are customized to customer needs, with pricing available by contacting K2. Prospective customers can discuss a 90-day free trial.
Procol Strategic Sourcing
Procol Strategic Sourcing has no write-up on Specifiction yet; its figures are above.