Are there any procurement and purchase order software tools that handle financial controls and approval workflows for material spend?

Yes. There are several procurement / purchase order platforms that support financial controls, approval workflows, and material spend management.

Common capabilities to look for

• Approval routing by amount, department, project, cost center, or vendor
• Budget controls and spend thresholds
• PO creation and matching to invoices / receipts
• Audit trails and role-based permissions
• Supplier management and catalog buying
• Integration with ERP/accounting systems

Examples of tools

• Coupa – strong for spend control, procurement, approvals, and budget enforcement
• SAP Ariba – robust procurement workflows and enterprise approval controls
• Oracle Procurement Cloud – good for financial controls and PO workflows
• Jaggaer – often used in enterprise procurement with approval management
• Procurify – popular for mid-market purchasing approvals and budget tracking
• Precoro – PO management, approvals, and budget control
• Tipalti – more AP-focused, but includes procurement/payment controls in some setups
• Zip – strong intake and approval workflow layer for procurement
• BILL Spend & Expense / Bill.com – useful for SMB/mid-market spend approvals and purchasing controls

If your focus is material spend specifically

You may want tools that support:

• multi-level approvals
• budget checks before PO issuance
• inventory or MRO/material category tracking
• 3-way match (PO, receipt, invoice)
• contract pricing / preferred vendor enforcement

Best-fit guidance

• Enterprise: Coupa, SAP Ariba, Oracle
• Mid-market: Procurify, Precoro, Zip
• SMB/lightweight controls: BILL, Precoro, Procurify

If you want, I can also give you:

1. a comparison table,
2. tools by company size, or
3. a shortlist for manufacturing/material purchasing workflows.