Albany, NY -- (SBWIRE) -- 08/11/2017 -- 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 global procurement software market to grow at a CAGR of 10.16% during the period 2017-2021. 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
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Technavio's 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.
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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 driver
- Need for automation of procurement process.
- For a full, detailed list, view our 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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