K2 Sourcing Platform vs ProcureKey
K2 Sourcing Platform
k2sourcing.comProcureKey
procurekey.comSide by side
| Figure | K2 Sourcing Platform | ProcureKey |
|---|---|---|
| Price from | — | — |
| Free plan | — | — |
| Free trial | Yes | Yes |
| Open source | — | — |
| Web | Yes | Yes |
| iOS | Yes | — |
| Android | Yes | — |
| API | — | Yes |
| Plans published | 2 | 1 |
| Spec score · Sourcing Software | 8.5 (#2) | 7.4 (#11) |
| Deployment | The company describes the product as cloud based with no software installation or implementation project for managed-service users. | ProcureKey is built natively on Microsoft SharePoint Online and Microsoft 365, and the company says most teams are running within a week. |
| Intended users | K2 describes the application as a tool for procurement and strategic sourcing professionals, including teams at small businesses and large corporations. | The product page describes use by SMB, mid-market, and enterprise procurement teams. |
| Security | K2 Sourcing states that the application is encrypted, password protected and hosted on a SOC 2 compliant server. | ProcureKey says sourcing data stays inside the customer’s Microsoft 365 tenant and lists SOC 2 Type 2, GDPR, and ISO certifications or readiness. |
| Support | GoodFirms lists email, phone and 24x7 support plus help guides, videos, blogs and case studies. | ProcureKey says it provides training and help from initial setup through ongoing optimization, including support for AI automation features. |
Plans
K2 Sourcing Platform
- Customized subscription planPriced on request
- Custom subscriptionPriced 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.
ProcureKey
ProcureKey is an eSourcing platform for procurement teams managing purchase requisitions, RFx events, supplier bids, evaluations, and awards. It supports RFQ, RFP, and RFI templates and advertises more than 15 auction formats, including reverse, multi-round, and Japanese-drop auctions. Buyers can compare bids by line item, apply weighted scoring, make split awards, and accept bids in multiple currencies. AI can generate RFQ descriptions, score proposals against published criteria, and suggest suppliers using history, qualifications, and compliance status. A supplier portal handles proposal submission, self-registration, and OTP verification. Requisitions pass through multi-level approvals before becoming RFx events. Integrations include SAP, Oracle, Dynamics 365, Workday, ServiceNow, Power BI, Outlook, Teams, and SharePoint, alongside APIs and secure data exchange. It runs on Microsoft SharePoint Online and Microsoft 365, with web and API access. Pricing is on request, with a 7-day trial.