Global Procurement Software Market 2017-2021

  • ID: 4042764
  • Report
  • Region: Global
  • 75 pages
  • TechNavio
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FEATURED COMPANIES

  • Basware
  • Coupa Software
  • IBM
  • Ivalua
  • OpusCapitam
  • SAP
  • MORE
About Procurement Software

Procurement software is a program that allows organizations to automate the process of purchasing resources and managing inventory. The software generates and approves purchase orders, selection, and ordering of product or service; matches invoices for materials received; and tracks all payment schedules. It is used for a range of applications, from shopping carts to highly complex SCM applications for global enterprises.

The analysts forecast the global procurement software market to grow at a CAGR of 10.16% during the period 2017-2021.

Covered in this report
The report covers the present scenario and the growth prospects of the global procurement software market for 2017-2021. To calculate the market size, the report considers the revenue generated from software subscriptions, installations, updates, licenses, maintenance costs, and professional services to calculate the market size.

The market is divided into the following segments based on geography:
- Americas
- APAC
- EMEA

The report, Global Procurement Software Market 2017-2021, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the Key vendors operating in this market.

Key vendors:
- Basware
- IBM
- Oracle
- PROACTIS
- SAP
- SciQuest

Other prominent vendors:
- BravoSolution
- BuyerQuest
- Coupa Software Inc.
- Elcom
- Epicor
- Infor
- IQNavigator
- Ivalua
- JDA Software
- Manhattan Associates
- OpusCapita
- Tradeshift
- Tungsten Network
- Vinimaya
- Zycus

Market drivers
- Need for automation of procurement process.
- For a full, detailed list, view the full report

Market challenges
- Integration of cross-functional departments.
- For a full, detailed list, view the full report

Market trends
- Increase in cloud-based procurement services.
- For a full, detailed list, view the full report

Key questions answered in this report
- What will the market size be in 2021 and what will the growth rate be?
- What are the key market trends?
- What is driving this market?
- What are the challenges to market growth?
- Who are the Key vendors in this market space?
- What are the market opportunities and threats faced by the key vendors?
- What are the strengths and weaknesses of the key vendors?

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Note: Product cover images may vary from those shown
2 of 5

FEATURED COMPANIES

  • Basware
  • Coupa Software
  • IBM
  • Ivalua
  • OpusCapitam
  • SAP
  • MORE
Part 01: Executive summary

Part 02: Scope of the report
  • Base year
  • Market segmentation
  • Summation errors
  • Top-vendor offerings
Part 03: Market research methodology
  • Research methodology
  • Economic indicators
Part 04: Introduction
  • Key market highlights
Part 05: Market description
  • Procurement
  • Procurement value chain
  • Methods of procurement
  • Processes involved in procurement
  • Pricing of procurement software
  • Types of procurement software
Part 06: Market landscape
  • Market overview
  • Supply chain network
  • Market size and forecast
Part 07: Market segmentation by deployment type
  • Global procurement software market by deployment type
Part 08: Geographical segmentation
  • Global procurement software market by geography 2016
  • Global procurement software market by geography 2016-2021
  • Americas
  • EMEA
  • APAC
Part 09: Market drivers

Part 10: Impact of drivers

Part 11: Market challenges
  • Lack of skilled professionals
  • Integration of cross-functional de
Partments
  • High cost of ownership
  • Uncertain economic conditions
Part 12: Impact of drivers and challenges

Part 13: Market trends

Part 14: Five forces analysis

Part 15: Vendor landscape
  • Competitive landscape
  • Vendor matrix
  • Comparative chart for technology providers
Part 16: Key vendor analysis
  • Basware
  • IBM
  • Oracle
  • PROACTIS
  • SAP
  • SciQuest
  • Other prominent vendors
Part 17: Appendix
  • List of abbreviations
Part 18: About the Author

List of Exhibits
Exhibit 01: Major countries covered
Exhibit 02: Product offerings
Exhibit 03: Processes involved in acquiring goods or services
Exhibit 04: Procurement value chain
Exhibit 05: Pricing of procurement software per user 2016-2021 ($)
Exhibit 06: SCM overview
Exhibit 07: Supply chain network
Exhibit 08: Global procurement software market 2016-2021 ($ billions)
Exhibit 09: Global procurement software market by deployment type 2016 and 2021
Exhibit 10: Global on- premise procurement software market 2016-2021 ($ billions)
Exhibit 11: Global cloud procurement software market 2016-2021 ($ billions)
Exhibit 12: Comparison of cloud and on-premises solutions
Exhibit 13: Global procurement software market by geography 2016
Exhibit 14: Global procurement software market by geography 2016-2021
Exhibit 15: Global procurement software market in Americas 2017-2021 ($ billions)
Exhibit 16: Global procurement software market in EMEA 2016-2021 ($ billions)
Exhibit 17: Global procurement software market in APAC 2016-2021 ($ billions)
Exhibit 18: Impact of drivers
Exhibit 19: Impact of drivers and challenges
Exhibit 20: Five forces analysis
Exhibit 21: Deployment model provided by procurement software vendors
Exhibit 22: Features provided by procurement software vendors
Exhibit 23: End-user support provided by procurement software vendors
Exhibit 24: Geographical presence of procurement software vendors
Exhibit 25: Customer base of procurement software vendors
Exhibit 26: Comparative petal chart for procurement software vendors
Exhibit 27: Basware procurement product and features
Exhibit 28: Basware: Recent developments
Exhibit 29: IBM procurement product and features
Exhibit 30: IBM: Recent developments
Exhibit 31: Oracle procurement products and features
Exhibit 32: Oracle: Recent developments
Exhibit 33: PROACTIS: Procurement products and features
Exhibit 34: PROACTIS: Recent developments
Exhibit 35: SAP procurement products and features
Exhibit 36: SAP: Recent developments
Exhibit 37: SciQuest procurement products and features
Exhibit 38: SciQuest: Recent developments
Exhibit 39: Other prominent vendors
Note: Product cover images may vary from those shown
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FEATURED COMPANIES

  • Basware
  • Coupa Software
  • IBM
  • Ivalua
  • OpusCapitam
  • SAP
  • MORE
New Report Released: – Global Procurement Software Market 2017-2021

The author of the report recognizes the following companies as the key players in the global procurement software market: Basware, IBM, Oracle, PROACTIS, SAP, and SciQuest.

Other Prominent Vendors in the market are: BravoSolution, BuyerQuest, Coupa Software, Elcom, Epicor, Infor, IQNavigator, Ivalua, JDA Software, Manhattan Associates, OpusCapitam, Tradeshift, Tungsten Network, Vinimaya, and Zycus.

Commenting on the report, an analyst from the research team said: “One trend in market is increased use of procurement analytics. Analytics is one of the fastest emerging trends in the P2P outsourcing market. Analytical solutions use statistical modeling tools and methodology for the in-depth analysis of procurement process. Advanced analytical tools such as predictive analytics provide insights related to procurement process by clustering many factors anticipated in the SCM systems. The insights provided by the advanced analytical tools help CPOs in their key decision making process. The complexities in the supply chain process are increasing in organizations due to increase in number of suppliers and range of materials that are being procured. There is also rising threat from numerous transactional frauds in the process and errors in the procurement process management systems. Analytical services help organizations to resolve the issues of fraud and errors through automated fraud detection systems embedded with analytical tools. Companies are working to ensure profitability and right vendor selection to purchase goods or services. In addition, some organizations are working with data analytics companies to gain insights about the supplier, market, and category of the procurement process, which helps them to recognize the aspects of cost reduction.”

According to the report, one driver in market is consolidation of SCM process. Since 2012, supply chains have become complex. Many suppliers cater to different industries globally, making it necessary for them to reduce the complexity of their supply chains. Procurement software helps users integrate business processes and improve the value of businesses. Chief procurement officers prefer this solution for ensuring transparency in financial supply chains and contract details and for generating invoices to complete payments. This is done by integrating e-sourcing and procurement software, where the software works with the finance department of an organization to improve the balance sheet as well as offer early payment discounts to suppliers, thus reducing supply risk. This helps the organization improve the visibility of resources of the supply chain. Business-to-business (B2B) standards are evolving, so procurement software vendors need to support many different business processes within a customer’s supply chain. Also, several companies are changing their business strategies, which require inventory planning and software that can support this.

Further, the report states that one challenge in market is lack of skilled professionals. Procurement software is complex, and end-users need extensive training to use it. This slows down the procurement cycle and reduces procurement efficiency. For instance, in 2015, more than 70% of the business in the UK have come across difficulties to hire procurement professionals for this sector over the past 12 months. Developing countries such as China and India are still lagging in terms of adoption of the software, due to the lack of skilled procurement professionals. Even the few that have adopted this software do not have sufficient knowledge on how to use it to its optimum efficiency.

The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors.
Note: Product cover images may vary from those shown
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  • Basware
  • IBM
  • Oracle
  • PROACTIS
  • SAP
  • SciQuest
  • BravoSolution
  • BuyerQuest
  • Coupa Software
  • Elcom
  • Epicor
  • Infor
  • IQNavigator
  • Ivalua
  • JDA Software
  • Manhattan Associates
  • OpusCapitam
  • Tradeshift
  • Tungsten Network
  • Vinimaya
  • Zycus
Note: Product cover images may vary from those shown
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Note: Product cover images may vary from those shown
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