Los Angeles, CA -- (SBWIRE) -- 04/11/2019 -- Procure-to-pay is a term used in the software industry to designate a specific subdivision of the procurement process. The procure-to-pay systems enable the integration of the purchasing department with the accounts payable (AP) department. Some of the largest players of the software industry agree on a common definition of procure-to-pay, linking the procurement process and financial department. The steps usually included are: Supply management; Cart or requisition; Purchase order; Receiving; Invoice reconciliation; Accounts payable.

On the basis of type, the Procure-to-Pay Suites market is segmented into Cloud-based and SaaS Based. The Cloud-based segment is expected to account for the larger share of the global market in 2018.

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Over the past two decades the procurement process has undergone significant change, transitioning from a paper-based order process to a strategic business function. The tools of procurement have also changed, reflecting the larger acceptance of technology and computerization in B2B relations overall. Beginning with the development of e-purchasing and catalog management, e-procurement tools have matured with integration of e-invoicing and invoice automation, creating whole procure-to-pay (P2P) suites.

In 2018, the global Procure-to-Pay Suites market size was 1430 million US$ and it is expected to reach 2600 million US$ by the end of 2025, with a CAGR of 8.9% between 2019 and 2025.

This report studies the Procure-to-Pay Suites market size by players, regions, product types and end industries, history data 2014-2018 and forecast data 2019-2025; This report also studies the global market competition landscape, market drivers and trends, opportunities and challenges, risks and entry barriers, sales channels, distributors and Porter's Five Forces Analysis.

This report focuses on the global top players, covered

SAP Ariba

Coupa

Oracle

Basware

JAGGAER

GEP

Zycus

BirchStreet Systems

Proactis

Infor

SynerTrade

Comarch

Ivalua

Xeeva

Wax Digital

Market segment by Regions/Countries, this report covers

North America

Europe

China

Rest of Asia Pacific

Central & South America

Middle East & Africa

Market segment by Type, the product can be split into

Cloud Based

SaaS Based

Market segment by Application, the market can be split into

SMEs

Large Enterprises

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