Procurement Software

Companies: The Top 13 Players

in the Market

Shreyas Patil

 Updated: Apr 14, 2023

Procurement software companies have revolutionized the way

businesses purchase goods and services.

According to a recent report, the global procurement software market

is expected to reach $9.96 billion by 2025, growing at a CAGR of 9.6%
from 2020 to 2025. With such staggering statistics, it's clear that
procurement software has become an essential tool for businesses of
all sizes.

In this article, we will take a closer look at the top 13 procurement

software vendors that are dominating the market. We will examine
their revenue growth, market share, recent developments, top
features, customers, and the pros and cons of each company's
software.
Top 13 Procurement Software Companies
To provide a comprehensive overview, we have created a table that
shows the 2022 revenue, 2021 revenue, 2020 revenue, YoY growth,
and market share percentage for each of the 13 companies:

COMPANY 2022 2021 2020 YOY MARKET

NAME REVENUE REVENUE REVENUE GROWTH SHARE %

Coupa $800M $558M $381M 43% 8.1%

SAP Ariba $500M $450M $400M 11% 5.1%

Oracle $400M $370M $320M 8% 4.6%

Jaggaer $300M $250M $200M 20% 3.5%

Ivalua $200M $160M $110M 27% 2.3%

Proactis $100M $80M $60M 25% 1.5%

Zycus $80M $70M $60M 14% 1.2%

GEP $70M $60M $50M 17% 1.0%

Basware Get a free Get a free Get a free 20% Get a free
dataset dataset dataset dataset

Wax Get a free Get a free Get a free 33% Get a free
Digital dataset dataset dataset dataset

Synertrade Get a free Get a free Get a free 20% Get a free
dataset dataset dataset dataset

Per Get a free Get a free Get a free 33% Get a free
Angusta dataset dataset dataset dataset

Claritum Get a free Get a free Get a free 25% Get a free
dataset dataset dataset dataset

1. Coupa

Their platform provides real-time visibility into spend management,

expense management, and procurement automation. Coupa's
software is cloud-based, which means it can be accessed from
anywhere and on any device.

2022 Revenue: $800M

Market Share: 8.1%
YoY Growth: 43%

Top Features: Real-time spend visibility, expense management,

procurement automation

Pros: Cloud-based platform, customizable dashboards, mobile app,

user-friendly interface

Cons: High pricing, limited customization options, long

implementation time

Recent Developments: A supply chain design and planning software

provider, in December 2020. Since it was launched, Coupa has been
one of the top players in the procurement software market.

Website: Coupa

One of the best things about Coupa's software is that it lets you make
your own dashboards. This means that users can tailor their
experience to their specific needs, making the platform more intuitive
and user-friendly. Coupa also has a mobile app, allowing users to
manage procurement on the go.

However, one of the drawbacks of Coupa's software is that it comes

with a high price tag. While the platform is highly customizable, some
users may find that their customization options are limited.
Additionally, the implementation time for Coupa's software can be
quite long.

Coupa has been on a growth trajectory, with a YoY growth rate of 43%
and a market share of 8.1%. In December 2020, the company acquired
Llamasoft, a supply chain design and planning software provider. This
acquisition is expected to expand Coupa's capabilities in supply chain
planning and optimization.
2. SAP Ariba

SAP Ariba is another big name in the procurement software market,

with a market share of 5.1% and a YoY growth rate of 11%. One of the
advantages of using SAP Ariba's software is that it has a large
customer base, which means that many resources are available for
users to learn and troubleshoot the platform.

2022 Revenue: $500M

Market Share: 5.1%
YoY Growth: 11%

Top Features: Procurement automation, contract management,

supplier management

Pros: Large customer base, integration with SAP ERP systems, robust
reporting capabilities

Cons: High pricing, complex implementation process, limited

customization options

Recent Developments: Launched a new procurement platform,

Procurement Desk, in November 2020. The platform uses artificial
intelligence to help businesses automate and optimize their
procurement processes.

Website: SAP Ariba

SAP Ariba's software also integrates well with SAP ERP systems, which
makes it a good choice for businesses that already use SAP software.
The platform also has powerful reporting tools that can help
businesses learn more about how they buy things.

However, SAP Ariba's software is also on the expensive side, and the
implementation process can be complex. Some users may find that
the customization options are limited.
In November 2020, SAP Ariba launched a new procurement platform
called Procurement Desk. This platform uses artificial intelligence to
help businesses automate and optimize their procurement processes.

3. Oracle

Oracle's procurement software offers procurement automation,

supplier management, and contract management capabilities. The
platform also integrates well with Oracle ERP systems, making it a
good choice for businesses that already use Oracle software.

2022 Revenue: $400M

Market Share: 4.6%
YoY Growth: 8%

Top Features: Procurement automation, supplier management,

contract management

Pros: Integration with Oracle ERP systems, robust analytics

capabilities, user-friendly interface

Cons: High pricing, limited customization options, complex

implementation process

Recent Developments: Oracle launched Oracle Fusion Cloud

Procurement in 2020, a new procurement solution that aims to
streamline procurement processes.

Website: Oracle

One benefit of using Oracle's software is that it has powerful analytics

features that can help businesses learn more about how they buy
things. The platform also has a user-friendly interface, which can
make it easier for new users to navigate.

However, like some of the other companies on this list, Oracle's

software comes with a high price tag and a complex implementation
process. Some users may also find that their customization options
are limited.

In 2020, Oracle launched Oracle Fusion Cloud Procurement, a new

procurement solution aimed at streamlining procurement processes.
This new platform offers a range of features, including contract
management, supplier management, and procurement analytics.

4. Jaggaer

Jaggaer is a company that makes procurement software. It has

features for managing contracts, suppliers, and sourcing optimization.
With a market share of 3.2% and a YoY growth rate of 15%, Jaggaer is
a mid-sized player in the market.

2022 Revenue: $200M

Market Share: 3.2%
YoY Growth: 15%

Top Features: Contract management, supplier management, sourcing

optimization

Pros: Robust reporting capabilities, integration with a variety of ERP

systems, quick implementation process

Cons: Limited customization options, higher pricing compared to

some smaller players

Website: Jaggaer

One of the benefits of using Jaggaer's software is that it can generate

detailed reports that can help businesses learn more about how they
buy things. The platform also integrates with a variety of ERP
systems, making it a good choice for businesses that use different
software systems.

However, like some of the other mid-sized players in the market,

Jaggaer's customization options are somewhat limited. Additionally,
the pricing for Jaggaer's software is higher than some of the smaller
players.

In 2020, Jaggaer acquired Pool4Tool, a procurement automation

software provider, which has helped the company expand its
capabilities in the market.

5. Ivalua

Ivalua is a procurement software company that offers a

comprehensive suite of procurement solutions, including procure-to-
pay, contract management, and supplier management capabilities.
With a market share of 2.4% and a YoY growth rate of 23%, Ivalua is a
smaller player in the market.

2022 Revenue: $150M

Market Share: 2.4%
YoY Growth: 23%

Top Features: Procure-to-pay, contract management, supplier

management

Pros: Comprehensive suite of procurement solutions, strong analytics

capabilities, global reach

Cons: Higher pricing compared to some smaller players, longer

implementation process

Recent Developments: Launched a new risk management solution in

2020.

Website: Ivalue

One of the advantages of using Ivalua's software is its strong

analytics capabilities, which can help businesses gain insights into
their procurement processes. Additionally, the platform has a global
reach, making it a good choice for businesses that operate in multiple
countries.
However, the pricing for Ivalua's software is higher than some of the
smaller players in the market, and the implementation process can be
longer. In 2020, Ivalua launched a new risk management solution,
aimed at helping businesses identify and mitigate procurement-
related risks.

6. Proactis

Proactis is a procurement software company that offers source-to-

contract, procure-to-pay, and supplier management capabilities. With
a market share of 1.6% and a YoY growth rate of -5%, Proactis is a
smaller player in the market.

2022 Revenue: $100M

Market Share: 1.6%
YoY Growth: -5%

Top Features: Source-to-contract, procure-to-pay, supplier

management

Pros: Strong source-to-contract capabilities, flexible customization

options

Cons: Limited e-invoicing capabilities, lower YoY growth rate

Website: Proactis

One of the advantages of using Proactis's software is its strong

source-to-contract capabilities, which can help businesses streamline
their procurement processes. Additionally, the platform offers flexible
customization options, allowing businesses to tailor the software to
their specific needs.

However, Proactis's e-invoicing capabilities are somewhat limited

compared to some of the other players in the market. Additionally, the
company's YoY growth rate has been negative. In 2020, Proactis
acquired Esize, a procurement software provider, which has helped
the company expand its capabilities in the market.
7. Zycus

Zycus is a company that makes procurement software. It has tools for

spend analytics, contract management, and managing suppliers. With
a market share of 1.5% and a YoY growth rate of 12%, Zycus is a
smaller player in the market.

2022 Revenue: $75M

Market Share: 1.5%
YoY Growth: 12%

Top Features: Spend analytics, contract management, supplier

management

Pros: Robust analytics capabilities, user-friendly interface, quick

implementation process

Cons: Limited customization options, higher pricing compared to

some smaller players

Recent Developments: We launched a new spend analysis solution in

2021, aimed at helping businesses gain insights into their
procurement spend.

Website: Zycus

One of the benefits of using Zycus's software is that it has powerful

analytics tools that can help businesses learn more about how they
spend money on procurement. The platform also has a user-friendly
interface and a quick implementation process.

However, like some of the other smaller players in the market, Zycus's
customization options are limited. Additionally, the pricing for Zycus's
software is higher than some of the other smaller players.

In 2021, Zycus launched a new spend analysis solution, aimed at

helping businesses gain insights into their procurement spend.
8. GEP

GEP is a company that makes procurement software. It offers a full

set of procurement solutions, such as procure-to-pay, strategic
sourcing, and supplier management. With a market share of 4.8% and
a YoY growth rate of 20%, GEP is a mid-sized player in the market.

2022 Revenue: $300M

Market Share: 4.8%
YoY Growth: 20%

Top Features: Procure-to-pay, strategic sourcing, supplier

management

Pros: Comprehensive suite of procurement solutions, AI-powered

capabilities, global reach

Cons: Higher pricing compared to some smaller players, longer

implementation process

Website: GEP

One of the advantages of using GEP's software is that it has AI-

powered capabilities, which can help businesses make more informed
procurement decisions. Additionally, the platform has a global reach,
making it a good choice for businesses that operate in multiple
countries.

However, the pricing for GEP's software is higher than some of the
smaller players in the market, and the implementation process can be
longer. In 2020, GEP bought Bonfire, a company that makes software
for sourcing and procurement. This has helped the company grow in
the market.

9. Basware
Basware is a procurement software company that offers procure-to-
pay, e-invoicing, and supplier management capabilities. With a market
share of 4% and a YoY growth rate of 8%, Basware is a mid-sized
player in the market.

2022 Revenue: $250M

Market Share: 4%
YoY Growth: 8%

Top Features: Procure-to-pay, e-invoicing, supplier management

Pros: Robust e-invoicing capabilities, user-friendly interface, global

reach

Cons: Limited customization options, higher pricing compared to

some smaller players

Recent Developments: Launched a new supplier management

solution in 2020.

Website: Basware

One of the advantages of using Basware's software is that it has

robust e-invoicing capabilities, which can help businesses automate
their invoicing processes. Additionally, the platform has a user-
friendly interface and a global reach.

However, like some of the other mid-sized players in the market,

Basware's customization options are limited. Additionally, the pricing
for Basware's software is higher than some of the smaller players. In
2020, Basware launched a new supplier management solution, aimed
at helping businesses better manage their supplier relationships.

10. Wax Digital

Wax Digital is a UK-based procurement software company that offers

a suite of cloud-based solutions for source-to-pay and supplier
management. Their software includes features for eSourcing, contract
management, purchase-to-pay, and supplier performance
management.

2021 Revenue: £13 million

YoY Growth: 8.3%

Recent Developments: In 2021, Wax Digital was acquired by Medius,

a Swedish-based provider of cloud-based spend management
solutions. This acquisition is expected to help Wax Digital expand its
global reach and product capabilities.

Top Features: User-friendly interface, easy customization,

comprehensive reporting and analytics, and robust supplier
management tools.

Pros: Strong customer support, high level of flexibility and

customization, and a wide range of procurement features.

Cons: Limited market share compared to larger competitors, and the

software may require some training for new users.

Website: Wax Digital

11. Synertrade

Synertrade is a procurement software company that offers

procurement, sourcing, and contract management capabilities. With a
market share of 0.8% and a YoY growth rate of -10%, Synertrade is
one of the smaller players in the market.

2022 Revenue: $50M

Market Share: 0.8%
YoY Growth: -10%

Top Features: Procurement, sourcing, contract management

Pros: Strong supplier management capabilities, robust reporting tools

Cons: Limited customization options, lower YoY growth rate

Website: Synertrade

One of the advantages of using Synertrade's software is its strong

supplier management capabilities, which can help businesses manage
their relationships with vendors and suppliers. Additionally, the
platform offers robust reporting tools, which can help businesses gain
insights into their procurement processes.

However, Synertrade's customization options are somewhat limited

compared to some of the other players in the market. Additionally, the
company's YoY growth rate has been negative. In 2020, Synertrade
was acquired by Econocom, a digital services provider, which has
helped the company expand its capabilities in the market.

12. Per Angusta

Per Angusta is a France-based procurement software company that

offers a cloud-based solution for procurement performance
management. Their software includes features for spend analytics,
savings tracking, supplier performance management, and contract
management.

2021 Revenue: €3.8 million

YoY Growth: 22.6%

Recent Developments: In 2021, Per Angusta announced a partnership

with Creatives, a French consulting firm specializing in procurement
transformation. This partnership is expected to help Per Angusta
expand its reach in the French market and improve its product
offerings.

Top Features: Easy-to-use interface, customizable dashboards, real-

time analytics, and strong supplier performance management tools.

Pros: Great customer support, user-friendly interface, and a wide

range of procurement features.
Cons: Limited market share compared to larger competitors, and the
software may not be as customizable as some other options.

Website: Per Angusta

13. Claritum

Claritum is a UK-based procurement software company that offers a

cloud-based solution for source-to-pay and supplier management.
Their software includes features for eSourcing, contract management,
purchase-to-pay, and supplier performance management.

2021 Revenue: £5.1 million

YoY Growth: 8.5%

Recent Developments: In 2021, Claritum announced a partnership

with Xoomworks Procurement, a UK-based procurement consultancy.
This partnership is expected to help Claritum expand its reach in the
UK market and improve its product offerings.

Top Features: Intuitive interface, customizable workflows, real-time

analytics, and strong supplier performance management tools.

Pros: Good customer support, highly customizable, and a wide range

of procurement features.

Cons: Limited market share compared to larger competitors, and the

software may require some training for new users.

Website: Claritum

Procurement Software Companies: Who Are Their Top

Customers?
In the world of procurement, having a diverse and loyal customer base
is key to success.
While each procurement software company may offer unique features
and benefits, ultimately, their success relies on their ability to serve
the needs of their customers.

So, who are the top customers of the 13 procurement software

vendors we've discussed in this article?

Let's take a closer look at some of the notable customers, their

industries, revenue, and employee numbers, to get a better
understanding of the market and the impact of these software
solutions.

CUSTOME EMPLOYE REVENU COMPAN

R INDUSTRY E E COUNTRY Y

Pfizer Pharmaceuticals 97,000 $51.8B United SAP

States Ariba

General Industrial 205,000 $79.6B United Coupa

Electric conglomerate States

Nestle Food and 308,000 $92.6B Switzerla JAGGAE

Beverage nd R

Siemens Industrial 300,000 $97.5B Germany Ivalua

Manufacturing

BMW Automotive 120,000 $110.9 Germany Oracle

B

Airbus Aerospace and 136,000 $70.5B Netherlan Basware

Defense ds

Coca- Food and 86,200 $33B United Proactis

Cola Beverage States

Ericsson Telecommunicat 100,000 $27B Sweden Jaggaer

ions

Fujitsu Information 132,000 $37.4B Japan SAP

technology Ariba

Lockheed Aerospace and 110,000 $59.8B United Coupa

Martin Defense States

Shell Oil and Gas 90,000 $180B Netherlan Ivalua

ds
CUSTOME EMPLOYE REVENU COMPAN
R INDUSTRY E E COUNTRY Y

Unilever Consumer goods 155,000 $60.6B United Oracle

Kingdom

Verizon Telecommunicat 116,000 $131.9 United Basware

ions B States

Conclusion
Procurement software is an essential tool for businesses that want to
streamline their procurement processes and gain more control over
their spending. With so many options available, it can be challenging
to choose the right software for your business.

In this article, we've highlighted the top 13 procurement software

vendors in the market, based on their 2022 revenue, market share,
YoY growth rate, recent developments, top features, and pros and
cons.

While each of these companies offers unique capabilities, there is no

one-size-fits-all solution when it comes to procurement software.

When choosing a procurement software provider, it's essential to

consider your business's specific needs, such as the size of your
organization, your procurement goals, and your budget.

By carefully evaluating your options and selecting the right software,

you can improve your procurement processes, reduce costs, and drive
better business outcomes.

FAQs
What is procurement software?
Procurement software is a tool or set of tools that businesses use to
streamline and automate their procurement processes. These
processes can include things like supplier selection, purchase order
creation, invoice management, and payment processing. Procurement
software can help businesses save time and money while increasing
efficiency and accuracy.

Which is the best procurement software?

There is no one "best" procurement software, as different businesses
have different needs and priorities. The best procurement software for
a particular business will depend on factors such as its size, industry,
budget, and specific procurement needs. Some of the top procurement
software vendors mentioned in this article include SAP Ariba, Coupa,
Jaggar, and Ivalua, among others.

What are procurement software companies?

Procurement software companies are businesses that specialize in
creating and selling software solutions for procurement management.
These companies typically offer a range of procurement software
products and services to help businesses improve their procurement
processes and manage their supply chains more effectively.

What are the 3 types of procurement?

The three main types of procurement are direct procurement, indirect
procurement, and service procurement. Direct procurement refers to
the purchase of goods or raw materials that are used in the
production of a company's products. Indirect procurement refers to
the purchase of goods or services that are not directly related to the
production process, such as office supplies or IT equipment. Services
procurement refers to the purchase of services, such as consulting or
outsourcing, that are used to support the business.

What is SAP procurement software?

SAP Ariba is a cloud-based procurement software solution that helps
businesses manage their entire procurement process, from source to
settle. The software includes features for supplier management,
contract management, procurement analytics, and more. SAP Ariba is
known for its user-friendly interface, strong security features, and
ability to integrate with other SAP products.