Procure-To-Pay Solutions Market Size, Share, Growth & Forecast 2032

Procure-To-Pay Solutions Market Insights

According to the report published by Zion Market Research, the global Procure-To-Pay Solutions Market size was valued at USD 7.29 Billion in 2023 and is predicted to reach USD 15.39 Billion by the end of 2032. The market is expected to grow with a CAGR of 7.8% during the forecast period. The report analyzes the global Procure-To-Pay Solutions Market's growth drivers, restraints, and impact on demand during the forecast period. It will also help navigate and explore the arising opportunities in the Procure-To-Pay Solutions industry.

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Procure-To-Pay Solutions Market: Overview

The solutions of the procure-to-pay solutions are completely integrated and are implemented by several organizations so that the overall processes of the operation can be supported. The overall operations are done by these solutions that range from services and goods requisitions to upload the billed files in the systems. For the development of the effectiveness and the efficiency of the organization, the procure-to-pay solutions help by creating a planned structure to control the operations of the organization.

Procure-To-Pay Solutions Market: Facts

The e-procurement software is being implemented by the organizations in order to simplify the process of procure-to-pay. Owing to this, the way the companies used to purchase, transact, and sell their products has changed drastically. An important solution for the successful adoption and implementation of the e-procurement technology for an organization that purchases the products lies in the role of their suppliers. The research study Supplier Network 2012 was conducted by the Aberdeen group which suggested that the main challenge for the buying organizations is to facilitate the rise in the B2B e-commerce with their suppliers.

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Procure-To-Pay Solutions Market: Segmentation

The global market for the procure-to-pay is fragmented into its deployment, size of the enterprises, and the end-user industry.

Based on the deployment, the market is segregated into SaaS and on-premise.

Based on the size of the enterprise, the market is categorized into large enterprise and small and medium business.

Based on the end-user industry, the market is divided into healthcare, telecommunication, automotive, BFSI, oil & gas, and retail.

Procure-To-Pay Solutions Market: Growth Factors

The major factor that is contributing to the market growth is the increased use of the cloud based unified solutions of the procure pay. The vendors of the procure-to-pay solutions provide planning strategies and categorization capabilities for the strategic planning and sourcing with the help of managed services. The other factors that are driving the procure-to-pay solutions are better to spend analysis and data-driven sourcing. The total expenditure for the enterprise infrastructure can be minimized by the strategic source saving. The factors that will limit the growth of the market and which are affecting the market players are the compliances with the policies, contract, and regulations.

Procure-To-Pay Solutions Market: Report Scope

Procure-To-Pay Solutions Market: Regional Analysis

Several regions where the global procure-to-pay solutions market is diversified include Asia Pacific, Middle East and Africa, Western European, Eastern Europe, Latin America, and North America regions. The region that is dominating the procure-to-pay solutions is North America and this is will continue in the coming years too. The factor that is contributing to the growth of the market is the rise in the adoption of the procure-to-pay solutions in the BFSI sectors. The regions that are following North America are Western Europe and Asia Pacific region. The market growth for the procure-to-pay solutions is moderate in the regions such as Asia Pacific and Europe owing to the moderate rate of adoption by the small and medium enterprises.

Procure-To-Pay Solutions Market: Competitive Players

The key market players that are involved in the procure-to-pay solutions include:

• Zycus Inc.
• Bertelsmann SE & Co.
• Ariba Inc.
• GEP
• SAP SE
• Infosys Limited
• Comarch SA
• ProActis.

The Global Procure-To-Pay Solutions Market is segmented as follows:

By deployment 

• SaaS 
• on-premise

By size of the enterprises 

• large enterprise
• small and medium business 

By end-user industry 

• healthcare
• telecommunication
• automotive
• BFSI
• oil & gas
• retail

Procure-To-Pay Solutions Market: Regional Segment Analysis

• North America
  • U.S.
• Europe
  • UK
  • France
  • Germany
• Asia Pacific
  • China
  • Japan
  • India
• Latin America
  • Brazil
• The Middle East and Africa

What Reports Provides

• Full in-depth analysis of the parent market
• Important changes in market dynamics
• Segmentation details of the market
• Former, on-going, and projected market analysis in terms of volume and value
• Assessment of niche industry developments
• Market share analysis
• Key strategies of major players
• Emerging segments and regional markets
• Testimonials to companies in order to fortify their foothold in the market.