Market Overview:
The global procure-to-pay solutions market is expected to grow at a CAGR of 7.5% from 2018 to 2030. The growth of the market can be attributed to the increasing adoption of cloud-based procure-to-pay solutions by SMEs and large enterprises, and the growing demand for automated procure-to-pay solutions across various industries. Based on type, the global procure-to pay solutions market is segmented into cloud based and on premises. The cloud based segment is expected to grow at a higher CAGR than the on premises segment during the forecast period. This can be attributed to the growing demand for cloud based procurement systems among SMEs and large enterprises due to their ease of use and low cost of ownership. Based on application, the global procure pay solution market is divided into SMEs and large enterprises segments.
Product Definition:
A procure-to-pay solution is a business software system that automates the process of procurement—the acquisition of goods and services—and the payment thereof. The importance of procure-to-pay solutions lies in their ability to streamline and optimize these two critical business processes, saving time and money for businesses of all sizes.
Cloud Based:
Cloud-based solutions are expected to gain traction in the global procure-to-pay solutions market over the forecast period. The major factor contributing to this growth is its cost effectiveness and ease of use. Cloud based P2P solution offers a low investment cost for businesses, which is expected to drive their demand over the next six years.
On-premises:
On-premises is a term used for software and hardware installed at the end-users site. In procure-to-pay solutions, on premise software is used to process transactions between a buyer and seller. The transaction data is entered into the system by the buyer and then it gets validated by an independent third party before being sent to the vendor.
Application Insights:
The Small and Medium-sized Enterprises (SMEs) segment held the largest share of over 70.0% in 2017. The Procure-to-Pay system plays a crucial role in ensuring that vendors get paid and taxes are deducted correctly. SMEs lack the financial resources, technical expertise, and human capital to handle complex accounting tasks such as accounts receivable management, billing & invoicing, payment processing among others. Thus they look for solutions that can help them manage their procurement processes more efficiently while improving their internal control environment by reducing paperwork significantly.
Regional Analysis:
The European region dominated the global market in 2017. The presence of a large number of banks and financial institutions coupled with the growing adoption of cloud-based solutions is expected to drive growth over the forecast period. Furthermore, initiatives undertaken by governments to create awareness regarding P2P solutions and their benefits are likely to contribute toward regional growth. For instance, in February 2018, BNP Paribas Financial Services France launched an initiative called “Banks on Board†that enables customers to make payments using mobile phones without having any involvement from bank employees or systems.
The Asia Pacific region is anticipated to witness significant growth over the forecast period owing high adoption rates for P2P software among SMEs as compared larger enterprises in countries such as Japan and India.
Growth Factors:
- Increasing demand for automation in procurement process to improve efficiency and reduce costs
- Rising number of small and medium businesses (SMBs) that are implementing procure-to-pay solutions to streamline their operations
- Proliferation of cloud-based procure-to-pay solutions, which is making the technology more accessible and affordable for businesses of all sizes
- The growing trend of supply chain collaboration, which is necessitating the need for better procurement processes
- The increasing focus on sustainability initiatives by organizations, which is driving them to seek out more efficient and cost effective procurement processes
Scope Of The Report
Report Attributes
Report Details
Report Title
Procure-To-Pay Solutions Market Research Report
By Type
Cloud Based, On-premises
By Application
SMEs, Large Enterprises
By Companies
Zycus, Arvato, Ariba, GEP, SAP, Infosys, Comarch, Proactis
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
193
Number of Tables & Figures
136
Customization Available
Yes, the report can be customized as per your need.
Global Procure-To-Pay Solutions Market Report Segments:
The global Procure-To-Pay Solutions market is segmented on the basis of:
Types
Cloud Based, On-premises
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
SMEs, Large Enterprises
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- Zycus
- Arvato
- Ariba
- GEP
- SAP
- Infosys
- Comarch
- Proactis
Highlights of The Procure-To-Pay Solutions Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Cloud Based
- On-premises
- By Application:
- SMEs
- Large Enterprises
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Procure-To-Pay Solutions Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
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8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
Procure-To-Pay Solutions is a procurement software that helps businesses manage their procurements. It allows businesses to track and manage all aspects of their procurements, from contract negotiations to payment processing.
Some of the major companies in the procure-to-pay solutions market are Zycus, Arvato, Ariba, GEP, SAP, Infosys, Comarch, Proactis.
The procure-to-pay solutions market is expected to grow at a compound annual growth rate of 7.5%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Procure-To-Pay Solutions Market Overview
4.1 Introduction
4.1.1 Market Taxonomy
4.1.2 Market Definition
4.1.3 Macro-Economic Factors Impacting the Market Growth
4.2 Procure-To-Pay Solutions Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Procure-To-Pay Solutions Market - Supply Chain Analysis
4.3.1 List of Key Suppliers
4.3.2 List of Key Distributors
4.3.3 List of Key Consumers
4.4 Key Forces Shaping the Procure-To-Pay Solutions Market
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of Substitution
4.4.4 Threat of New Entrants
4.4.5 Competitive Rivalry
4.5 Global Procure-To-Pay Solutions Market Size & Forecast, 2018-2028
4.5.1 Procure-To-Pay Solutions Market Size and Y-o-Y Growth
4.5.2 Procure-To-Pay Solutions Market Absolute $ Opportunity
Chapter 5 Global Procure-To-Pay Solutions Market Analysis and Forecast by Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Type
5.1.2 Basis Point Share (BPS) Analysis by Type
5.1.3 Absolute $ Opportunity Assessment by Type
5.2 Procure-To-Pay Solutions Market Size Forecast by Type
5.2.1 Cloud Based
5.2.2 On-premises
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Procure-To-Pay Solutions Market Analysis and Forecast by Applications
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by Applications
6.1.2 Basis Point Share (BPS) Analysis by Applications
6.1.3 Absolute $ Opportunity Assessment by Applications
6.2 Procure-To-Pay Solutions Market Size Forecast by Applications
6.2.1 SMEs
6.2.2 Large Enterprises
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Procure-To-Pay Solutions Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 Procure-To-Pay Solutions Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America Procure-To-Pay Solutions Analysis and Forecast
9.1 Introduction
9.2 North America Procure-To-Pay Solutions Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America Procure-To-Pay Solutions Market Size Forecast by Type
9.6.1 Cloud Based
9.6.2 On-premises
9.7 Basis Point Share (BPS) Analysis by Type
9.8 Absolute $ Opportunity Assessment by Type
9.9 Market Attractiveness Analysis by Type
9.10 North America Procure-To-Pay Solutions Market Size Forecast by Applications
9.10.1 SMEs
9.10.2 Large Enterprises
9.11 Basis Point Share (BPS) Analysis by Applications
9.12 Absolute $ Opportunity Assessment by Applications
9.13 Market Attractiveness Analysis by Applications
Chapter 10 Europe Procure-To-Pay Solutions Analysis and Forecast
10.1 Introduction
10.2 Europe Procure-To-Pay Solutions Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe Procure-To-Pay Solutions Market Size Forecast by Type
10.6.1 Cloud Based
10.6.2 On-premises
10.7 Basis Point Share (BPS) Analysis by Type
10.8 Absolute $ Opportunity Assessment by Type
10.9 Market Attractiveness Analysis by Type
10.10 Europe Procure-To-Pay Solutions Market Size Forecast by Applications
10.10.1 SMEs
10.10.2 Large Enterprises
10.11 Basis Point Share (BPS) Analysis by Applications
10.12 Absolute $ Opportunity Assessment by Applications
10.13 Market Attractiveness Analysis by Applications
Chapter 11 Asia Pacific Procure-To-Pay Solutions Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Procure-To-Pay Solutions Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific Procure-To-Pay Solutions Market Size Forecast by Type
11.6.1 Cloud Based
11.6.2 On-premises
11.7 Basis Point Share (BPS) Analysis by Type
11.8 Absolute $ Opportunity Assessment by Type
11.9 Market Attractiveness Analysis by Type
11.10 Asia Pacific Procure-To-Pay Solutions Market Size Forecast by Applications
11.10.1 SMEs
11.10.2 Large Enterprises
11.11 Basis Point Share (BPS) Analysis by Applications
11.12 Absolute $ Opportunity Assessment by Applications
11.13 Market Attractiveness Analysis by Applications
Chapter 12 Latin America Procure-To-Pay Solutions Analysis and Forecast
12.1 Introduction
12.2 Latin America Procure-To-Pay Solutions Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America Procure-To-Pay Solutions Market Size Forecast by Type
12.6.1 Cloud Based
12.6.2 On-premises
12.7 Basis Point Share (BPS) Analysis by Type
12.8 Absolute $ Opportunity Assessment by Type
12.9 Market Attractiveness Analysis by Type
12.10 Latin America Procure-To-Pay Solutions Market Size Forecast by Applications
12.10.1 SMEs
12.10.2 Large Enterprises
12.11 Basis Point Share (BPS) Analysis by Applications
12.12 Absolute $ Opportunity Assessment by Applications
12.13 Market Attractiveness Analysis by Applications
Chapter 13 Middle East & Africa (MEA) Procure-To-Pay Solutions Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Procure-To-Pay Solutions Market Size Forecast by Country
13.2.1 Saudi Arabia
13.2.2 South Africa
13.2.3 UAE
13.2.4 Rest of Middle East & Africa (MEA)
13.3 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) Procure-To-Pay Solutions Market Size Forecast by Type
13.6.1 Cloud Based
13.6.2 On-premises
13.7 Basis Point Share (BPS) Analysis by Type
13.8 Absolute $ Opportunity Assessment by Type
13.9 Market Attractiveness Analysis by Type
13.10 Middle East & Africa (MEA) Procure-To-Pay Solutions Market Size Forecast by Applications
13.10.1 SMEs
13.10.2 Large Enterprises
13.11 Basis Point Share (BPS) Analysis by Applications
13.12 Absolute $ Opportunity Assessment by Applications
13.13 Market Attractiveness Analysis by Applications
Chapter 14 Competition Landscape
14.1 Procure-To-Pay Solutions Market: Competitive Dashboard
14.2 Global Procure-To-Pay Solutions Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 Zycus
14.3.2 Arvato
14.3.3 Ariba
14.3.4 GEP
14.3.5 SAP
14.3.6 Infosys
14.3.7 Comarch
14.3.8 Proactis
