Top Procurement Software Companies

Skyquest Technology's expert advisors have carried out comprehensive research and identified these companies as industry leaders in the Procurement Software Market. This Analysis is based on comprehensive primary and secondary research on the corporate strategies, financial and operational performance, product portfolio, market share and brand analysis of all the leading Procurement Software industry players.

Procurement Software Market Competitive Landscape

The global procurement software market competitive environment is dominated by a few major international firms, such as SAP, Oracle, IBM, Coupa Software, and Jaggaer. These firms compete on the basis of developing better products through innovation, strategic collaborations, and mergers and acquisitions. For instance, SAP pursues expanding cloud-based solutions, whereas Coupa Software concentrates on AI-based procurement solutions to optimize operational efficiency and decision-making across supply chains.

The startup landscape in the global procurement software market is flourishing as companies push the boundaries of automation, AI, and cloud-based technologies. Startups are launching affordable, agile solutions that are aimed at streamlining procurement processes for small, medium, and large businesses. With a focus on innovation, such companies are transforming the conventional procurement process with intelligent analytics, machine learning, and AI-based tools that provide real-time insights, enabling businesses to optimize their procurement processes and minimize operational expenses.

  • Established in 2015, Zylo is a SaaS procurement software company that focuses on SaaS spend management. It allows companies to monitor and optimize their software subscriptions. Zylo provides a platform that aggregates all SaaS subscriptions with comprehensive analytics and cost-saving information.
  • Founded in 2016, BuyersEdge Platform is a B2B procurement software company that enables organizations to enhance procurement activities through more intelligent sourcing and vendor management. BuyersEdge Platform: Their solution includes sourcing tools, supplier collaboration tools, and contract management tools that are centered around improving supplier relations while achieving cost savings.

Top Player’s Company Profiles

  • SAP (Germany)
  • Oracle (USA)
  • Coupa Software (USA)
  • Jaggaer (USA)
  • IBM (USA)
  • Ivalua (France)
  • Zycus (USA)
  • Basware (Finland)
  • SynerTrade (Germany)
  • Proactis (United Kingdom)
  • GEP (USA)
  • Tradeshift (Denmark)
  • Vroozi (USA)
  • Determine (now part of Corcentric) (USA)
  • Scout RFP (USA)

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Global Procurement Software Market size was valued at USD 7.57 Billion in 2023 poised to grow from USD 8.20 Billion in 2024 to USD 15.61 Billion by 2032, growing at a CAGR of 8.38% in the forecast period (2025-2032).

The global procurement software market competitive environment is dominated by a few major international firms, such as SAP, Oracle, IBM, Coupa Software, and Jaggaer. These firms compete on the basis of developing better products through innovation, strategic collaborations, and mergers and acquisitions. For instance, SAP pursues expanding cloud-based solutions, whereas Coupa Software concentrates on AI-based procurement solutions to optimize operational efficiency and decision-making across supply chains. 'SAP (Germany)', 'Oracle (USA)', 'Coupa Software (USA)', 'Jaggaer (USA)', 'IBM (USA)', 'Ivalua (France)', 'Zycus (USA)', 'Basware (Finland)', 'SynerTrade (Germany)', 'Proactis (United Kingdom)', 'GEP (USA)', 'Tradeshift (Denmark)', 'Vroozi (USA)', 'Determine (now part of Corcentric) (USA)', 'Scout RFP (USA)'

Digital transformation is one of the major drivers of the global procurement software market growth. Firms are more and more implementing automated procurement systems to increase efficiency, minimize manual operations, and enhance decision-making. It allows them to manage data in a better manner, enhance transparency, and maximize supply chain management, which accelerates the market growth.

Rise of AI-Driven Procurement Solutions: Integration of AI into procurement software is becoming a major trend, allowing for automation, predictive analytics, and better decision-making. This technology assists companies in optimizing sourcing, automating supplier management, and lowering procurement costs, promoting efficiency and accuracy in procurement processes.

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Global Procurement Software Market
Procurement Software Market

Report ID: SQMIG45E2328

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