Procurement Software Market Share

Market Share of Procurement Software Industry

The procurement software market is moderately concentrated, owing to the presence of a few large and small players in the market operating in the domestic as well as in the international market. Players in the market are adopting key strategies, such as product innovation, strategic partnerships and mergers, and acquisitions. Some of the key developments in the market are:

• In October 2022, Tropic, a SaaS procurement software platform company, partnered with Tranch, a B2B Buy Now Pay Later (BNPL) provider, to allow their customers to pay their software costs. Under this partnership, Tropic customers submit their invoices through Tranch and can pay them in flexible EMIs for up to 12 months. Tropic customers must instantly link their bank account via Plaid to start and be approved.
• In September 2022, GEP, a procurement and supply chain service company, expanded its presence with the launch of a New Office in Abu Dhabi, working with several middle eastern clients in the fields of aviation, consumer packaged goods (CPG), energy, financial services, and oil and gas sectors for procurement software services.

Procurement Software Market Leaders

1. SAP SE

2. Proactis Holdings Plc

3. Ginesys (Ginni Systems Limited)

4. Epicor Software Corporation

5. Coupa Software Inc.

*Disclaimer: Major Players sorted in no particular order