Market Overview:
The global procure-to-pay suites market is expected to grow at a CAGR of 7.5% during the forecast period from 2018 to 2030. The market growth can be attributed to the increasing adoption of cloud-based and SaaS-based procure-to-pay suites by small and medium enterprises (SMEs) and large enterprises. Additionally, the growing demand for procurement automation across different regions is also propelling the growth of this market. However, lack of awareness about procure-to-pay suites among end users may restrain the growth of this market to some extent during the forecast period.
Product Definition:
A procure-to-pay suite is a software system that helps organizations manage the procurement process from start to finish. This includes tasks such as issuing purchase orders, tracking inventory levels, and paying invoices. The importance of procure-to-pay suites is that they can help organizations save time and money by streamlining the procurement process.
Cloud Based:
Cloud-based solutions are expected to gain traction in the procurement-to-pay suites market over the forecast period. These solutions help organizations automate business processes and streamline workflows, which is expected to drive their demand over the next few years. Cloud computing has evolved as a solution for many enterprise problems including resource allocation, strategic decision making, data sharing & collaboration among businesses and consumers.
SaaS Based:
SaaS-based procurement to payment suites are gaining traction in the market owing to their ability to deliver a comprehensive end-to-end solution for financial processes. They help businesses in managing all their financial transactions, from sales order processing and customer invoicing through payment processing and accounting. SaaS based procurement to payment suites are gaining traction in the market owing to their ability to deliver a comprehensive end-to-end solution for financial processes.
Application Insights:
The Small and Medium-sized Enterprises (SMEs) segment held the largest market share in 2017. The SMEs are adopting modern technologies such as cloud computing, social networks, and e-commerce to conduct their business operations. As a result, they require less IT support and can access remote locations easily. Furthermore, the SMEs have a limited budget for application development; therefore they opt for low cost SaaS based solutions over expensive procure-to-pay suites that demand high IT infrastructure investments from them.
The large enterprises segment is anticipated to register the highest CAGR of XX% during the forecast period owing to increasing government initiatives on digitization of public procurement systems in various countries across Europe including Italy, France Germany Spain etc., which eventually drives adoption of P2P software among large enterprises globally.
Regional Analysis:
The European region dominated the global market in 2017. The presence of a large number of SMEs and their increasing adoption of e- procurement solutions are expected to drive the regional market over the forecast period. Furthermore, governments’ inclination towards adopting cloud based procure-to-pay solutions is also expected to propel growth over the next eight years.
Asia Pacific is anticipated to emerge as one of the fastest growing regions during the forecast period owing to several government initiatives undertaken in order to modernize public sector infrastructure and payment systems, thereby promoting trade between governments and private sectors across countries such as China, India, Singapore etc., thus generating high demand for P2P software applications in this region. Moreover, with an increase in disposable income levels among consumers coupled with rising penetration of internet services across developing economies such as India & China has led these nations into becoming potential markets for P2P software applications providers; hence driving regional growth over next eight years.
Growth Factors:
- Increased demand for automation in procurement processes to improve efficiency and reduce costs.
- Growing popularity of e-procurement, which enables buyers to purchase goods and services online, improving process transparency and reducing processing times.
- Rising pressure on businesses to become more environmentally sustainable, driving demand for procurement solutions that help identify and track environmentally friendly products and services.
- The need for organisations to manage supplier risk as part of an overall risk management strategy is increasing the adoption of procure-to-pay suites solutions by companies across all industries5 Increasing focus on cost reduction initiatives by organisations across all industries is expected to result in increased demand for procure-to-pay suites solutions over the forecast period
Scope Of The Report
Report Attributes
Report Details
Report Title
Procure-to-Pay Suites Market Research Report
By Type
Cloud Based, SaaS Based, Procure-to-Pay Suite
By Application
SMEs, Large Enterprises
By Companies
SAP Ariba, Coupa, Oracle, Basware, JAGGAER, GEP, Zycus, BirchStreet Systems, Proactis, Infor, SynerTrade, Comarch, Ivalua, Xeeva, Wax Digital, Procure-to-Pay Suite
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
238
Number of Tables & Figures
167
Customization Available
Yes, the report can be customized as per your need.
Global Procure-to-Pay Suites Market Report Segments:
The global Procure-to-Pay Suites market is segmented on the basis of:
Types
Cloud Based, SaaS Based, Procure-to-Pay Suite
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:
- SAP Ariba
- Coupa
- Oracle
- Basware
- JAGGAER
- GEP
- Zycus
- BirchStreet Systems
- Proactis
- Infor
- SynerTrade
- Comarch
- Ivalua
- Xeeva
- Wax Digital
- Procure-to-Pay Suite
Highlights of The Procure-to-Pay Suites 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
- SaaS Based
- Procure-to-Pay Suite
- 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 Suites 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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- Correctly Positioning New Products
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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 suites are a type of contract where a company agrees to pay for goods or services as soon as they are received. This can be helpful when there is a need for quick delivery, and it eliminates the need to wait for invoices to be processed.
Some of the major companies in the procure-to-pay suites market are SAP Ariba, Coupa, Oracle, Basware, JAGGAER, GEP, Zycus, BirchStreet Systems, Proactis, Infor, SynerTrade, Comarch, Ivalua, Xeeva, Wax Digital, Procure-to-Pay Suite.
The procure-to-pay suites market is expected to register a CAGR of 7.5%.
1. Executive Summary
2. Assumptions and Acronyms Used
3. Research Methodology
4. Procure-to-Pay Suites Market Overview
4.1. Introduction
4.1.1. Market Taxonomy
4.1.2. Market Definition
4.2. Macro-Economic Factors
4.2.1. Industry Outlook
4.3. Procure-to-Pay Suites Market Dynamics
4.3.1. Market Drivers
4.3.2. Market Restraints
4.3.3. Opportunity
4.3.4. Market Trends
4.4. Procure-to-Pay Suites Market - Supply Chain
4.5. Global Procure-to-Pay Suites Market Forecast
4.5.1. Procure-to-Pay Suites Market Size (US$ Mn) and Y-o-Y Growth
4.5.2. Procure-to-Pay Suites Market Size (000 Units) and Y-o-Y Growth
4.5.3. Procure-to-Pay Suites Market Absolute $ Opportunity
5. Global Procure-to-Pay Suites Market Analysis and Forecast by Type
5.1. Market Trends
5.2. Introduction
5.2.1. Basis Point Share (BPS) Analysis by Type
5.2.2. Y-o-Y Growth Projections by Type
5.3. Procure-to-Pay Suites Market Size and Volume Forecast by Type
5.3.1. Cloud Based
5.3.2. SaaS Based
5.3.3. Procure-to-Pay Suite
5.4. Absolute $ Opportunity Assessment by Type
5.5. Market Attractiveness/Growth Potential Analysis by Type
6. Global Procure-to-Pay Suites Market Analysis and Forecast by Application
6.1. Market Trends
6.2. Introduction
6.2.1. Basis Point Share (BPS) Analysis by Application
6.2.2. Y-o-Y Growth Projections by Application
6.3. Procure-to-Pay Suites Market Size and Volume Forecast by Application
6.3.1. SMEs
6.3.2. Large Enterprises
6.4. Absolute $ Opportunity Assessment by Application
6.5. Market Attractiveness/Growth Potential Analysis by Application
7. Global Procure-to-Pay Suites Market Analysis and Forecast by Sales Channel
7.1. Market Trends
7.2. Introduction
7.2.1. Basis Point Share (BPS) Analysis by Sales Channel
7.2.2. Y-o-Y Growth Projections by Sales Channel
7.3. Procure-to-Pay Suites Market Size and Volume Forecast by Sales Channel
7.3.1. Manufacturer/Distributor/Service Provider
7.3.2. Aftermarket
7.4. Absolute $ Opportunity Assessment by Sales Channel
7.5. Market Attractiveness/Growth Potential Analysis by Sales Channel
8. Global Procure-to-Pay Suites Market Analysis and Forecast by Region
8.1. Market Trends
8.2. Introduction
8.2.1. Basis Point Share (BPS) Analysis by Region
8.2.2. Y-o-Y Growth Projections by Region
8.3. Procure-to-Pay Suites Market Size and Volume Forecast by Region
8.3.1. North America
8.3.2. Latin America
8.3.3. Europe
8.3.4. Asia Pacific
8.3.5. Middle East and Africa (MEA)
8.4. Absolute $ Opportunity Assessment by Region
8.5. Market Attractiveness/Growth Potential Analysis by Region
8.6. Global Procure-to-Pay Suites Demand Share Forecast, 2019-2026
9. North America Procure-to-Pay Suites Market Analysis and Forecast
9.1. Introduction
9.1.1. Basis Point Share (BPS) Analysis by Country
9.1.2. Y-o-Y Growth Projections by Country
9.2. North America Procure-to-Pay Suites Market Size and Volume Forecast by Country
9.2.1. U.S.
9.2.2. Canada
9.3. Absolute $ Opportunity Assessment by Country
9.4. North America Procure-to-Pay Suites Market Size and Volume Forecast by Application
9.4.1. SMEs
9.4.2. Large Enterprises
9.5. Basis Point Share (BPS) Analysis by Application
9.6. Y-o-Y Growth Projections by Application
9.7. North America Procure-to-Pay Suites Market Size and Volume Forecast by Type
9.7.1. Cloud Based
9.7.2. SaaS Based
9.7.3. Procure-to-Pay Suite
9.8. Basis Point Share (BPS) Analysis by Type
9.9. Y-o-Y Growth Projections by Type
9.10. Market Attractiveness/Growth Potential Analysis
9.10.1. By Country
9.10.2. By Product Type
9.10.3. By Application
9.10.4. By Sales Channel
9.11. North America Procure-to-Pay Suites Demand Share Forecast, 2019-2026
10. Latin America Procure-to-Pay Suites Market Analysis and Forecast
10.1. Introduction
10.1.1. Basis Point Share (BPS) Analysis by Country
10.1.2. Y-o-Y Growth Projections by Country
10.1.3. Latin America Average Pricing Analysis
10.2. Latin America Procure-to-Pay Suites Market Size and Volume Forecast by Country
10.2.1. Brazil
10.2.2. Mexico
10.2.3. Rest of Latin America
10.3. Absolute $ Opportunity Assessment by Country
10.4. Latin America Procure-to-Pay Suites Market Size and Volume Forecast by Application
10.4.1. SMEs
10.4.2. Large Enterprises
10.5. Basis Point Share (BPS) Analysis by Application
10.6. Y-o-Y Growth Projections by Application
10.7. Latin America Procure-to-Pay Suites Market Size and Volume Forecast by Type
10.7.1. Cloud Based
10.7.2. SaaS Based
10.7.3. Procure-to-Pay Suite
10.8. Basis Point Share (BPS) Analysis by Type
10.9. Y-o-Y Growth Projections by Type
10.10. Market Attractiveness/Growth Potential Analysis
10.10.1. By Country
10.10.2. By Product Type
10.10.3. By Application
10.10.4. By Sales Channel
10.11. Latin America Procure-to-Pay Suites Demand Share Forecast, 2019-2026
11. Europe Procure-to-Pay Suites Market Analysis and Forecast
11.1. Introduction
11.1.1. Basis Point Share (BPS) Analysis by Country
11.1.2. Y-o-Y Growth Projections by Country
11.1.3. Europe Average Pricing Analysis
11.2. Europe Procure-to-Pay Suites Market Size and Volume Forecast by Country
11.2.1. Germany
11.2.2. France
11.2.3. Italy
11.2.4. U.K.
11.2.5. Spain
11.2.6. Russia
11.2.7. Rest of Europe
11.3. Absolute $ Opportunity Assessment by Country
11.4. Europe Procure-to-Pay Suites Market Size and Volume Forecast by Application
11.4.1. SMEs
11.4.2. Large Enterprises
11.5. Basis Point Share (BPS) Analysis by Application
11.6. Y-o-Y Growth Projections by Application
11.7. Europe Procure-to-Pay Suites Market Size and Volume Forecast by Type
11.7.1. Cloud Based
11.7.2. SaaS Based
11.7.3. Procure-to-Pay Suite
11.8. Basis Point Share (BPS) Analysis by Type
11.9. Y-o-Y Growth rojections by Type
11.10. Market Attractiveness/Growth Potential Analysis
11.10.1. By Country
11.10.2. By Product Type
11.10.3. By Application
11.10.4. By Sales Channel
11.11. Europe Procure-to-Pay Suites Demand Share, 2019-2026
12. Asia Pacific Procure-to-Pay Suites Market Analysis and Forecast
12.1. Introduction
12.1.1. Basis Point Share (BPS) Analysis by Country
12.1.2. Y-o-Y Growth Projections by Country
12.1.3. Asia Pacific Average Pricing Analysis
12.2. Asia Pacific Procure-to-Pay Suites Market Size and Volume Forecast by Country
12.2.1. China
12.2.2. Japan
12.2.3. South Korea
12.2.4. India
12.2.5. Australia
12.2.6. Rest of Asia Pacific (APAC)
12.3. Absolute $ Opportunity Assessment by Country
12.4. Asia Pacific Procure-to-Pay Suites Market Size and Volume Forecast by Application
12.4.1. SMEs
12.4.2. Large Enterprises
12.5. Basis Point Share (BPS) Analysis by Application
12.6. Y-o-Y Growth Projections by Application
12.7. Asia Pacific Procure-to-Pay Suites Market Size and Volume Forecast by Type
12.7.1. Cloud Based
12.7.2. SaaS Based
12.7.3. Procure-to-Pay Suite
12.8. Basis Point Share (BPS) Analysis by Type
12.9. Y-o-Y Growth Projections by Type
12.10. Market Attractiveness/Growth Potential Analysis
12.10.1. By Country
12.10.2. By Product Type
12.10.3. By Application
12.10.4. By Sales Channel
12.11. Asia Pacific Procure-to-Pay Suites Demand Share, 2019-2026
13. Middle East & Africa Procure-to-Pay Suites Market Analysis and Forecast
13.1. Introduction
13.1.1. Basis Point Share (BPS) Analysis by Country
13.1.2. Y-o-Y Growth Projections by Country
13.1.3. Asia Pacific Average Pricing Analysis
13.2. Middle East & Africa Procure-to-Pay Suites Market Size and Volume 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. Absolute $ Opportunity Assessment by Country
13.4. Middle East & Africa Procure-to-Pay Suites Market Size and Volume Forecast by Application
13.4.1. SMEs
13.4.2. Large Enterprises
13.5. Basis Point Share (BPS) Analysis by Application
13.6. Y-o-Y Growth Projections by Application
13.7. Middle East & Africa Procure-to-Pay Suites Market Size and Volume Forecast by Type
13.7.1. Cloud Based
13.7.2. SaaS Based
13.7.3. Procure-to-Pay Suite
13.8. Basis Point Share (BPS) Analysis by Type
13.9. Y-o-Y Growth Projections by Type
13.10. Market Attractiveness/Growth Potential Analysis
13.10.1. By Country
13.10.2. By Product Type
13.10.3. By Application
13.10.4. By Sales Channel
13.11. Middle East & Africa Procure-to-Pay Suites Demand Share, 2019-2026
14. Competition Landscape
14.1. Global Procure-to-Pay Suites Market: Market Share Analysis
14.2. Procure-to-Pay Suites Distributors and Customers
14.3. Procure-to-Pay Suites Market: Competitive Dashboard
14.4. Company Profiles (Details Overview, Financials, Developments, Strategy)
14.4.1. SAP Ariba
14.4.1.1. Overview
14.4.1.2. Financials
14.4.1.3. Developments
14.4.1.4. Strategic Outlook
14.4.2. Coupa
14.4.2.1. Overview
14.4.2.2. Financials
14.4.2.3. Developments
14.4.2.4. Strategic Outlook
14.4.3. Oracle
14.4.3.1. Overview
14.4.3.2. Financials
14.4.3.3. Developments
14.4.3.4. Strategic Outlook
14.4.4. Basware
14.4.4.1. Overview
14.4.4.2. Financials
14.4.4.3. Developments
14.4.4.4. Strategic Outlook
14.4.5. JAGGAER
14.4.5.1. Overview
14.4.5.2. Financials
14.4.5.3. Developments
14.4.5.4. Strategic Outlook
14.4.6. GEP
14.4.6.1. Overview
14.4.6.2. Financials
14.4.6.3. Developments
14.4.6.4. Strategic Outlook
14.4.7. Zycus
14.4.7.1. Overview
14.4.7.2. Financials
14.4.7.3. Developments
14.4.7.4. Strategic Outlook
14.4.8. BirchStreet Systems
14.4.8.1. Overview
14.4.8.2. Financials
14.4.8.3. Developments
14.4.8.4. Strategic Outlook
14.4.9. Proactis
14.4.9.1. Overview
14.4.9.2. Financials
14.4.9.3. Developments
14.4.9.4. Strategic Outlook
14.4.10. Infor
14.4.10.1. Overview
14.4.10.2. Financials
14.4.10.3. Developments
14.4.10.4. Strategic Outlook
14.4.11. SynerTrade
14.4.11.1. Overview
14.4.11.2. Financials
14.4.11.3. Developments
14.4.11.4. Strategic Outlook
14.4.12. Comarch
14.4.12.1. Overview
14.4.12.2. Financials
14.4.12.3. Developments
14.4.12.4. Strategic Outlook
14.4.13. Ivalua
14.4.13.1. Overview
14.4.13.2. Financials
14.4.13.3. Developments
14.4.13.4. Strategic Outlook
14.4.14. Xeeva
14.4.14.1. Overview
14.4.14.2. Financials
14.4.14.3. Developments
14.4.14.4. Strategic Outlook
14.4.15. Wax Digital
14.4.15.1. Overview
14.4.15.2. Financials
14.4.15.3. Developments
14.4.15.4. Strategic Outlook
14.4.16. Procure-to-Pay Suite
14.4.16.1. Overview
14.4.16.2. Financials
14.4.16.3. Developments
14.4.16.4. Strategic Outlook
14.4.17. COMPANY 17
14.4.17.1. Overview
14.4.17.2. Financials
14.4.17.3. Developments
14.4.17.4. Strategic Outlook
14.4.18. COMPANY 18
14.4.18.1. Overview
14.4.18.2. Financials
14.4.18.3. Developments
14.4.18.4. Strategic Outlook
14.4.19. COMPANY 19
14.4.19.1. Overview
14.4.19.2. Financials
14.4.19.3. Developments
14.4.19.4. Strategic Outlook
14.4.20. COMPANY 20
14.4.20.1. Overview
14.4.20.2. Financials
14.4.20.3. Developments
14.4.20.4. Strategic Outlook
