Why Procure-to-Pay Is the Backbone of Efficient Procurement Operations

 


QKS Group (formerly Quadrant Knowledge Solutions) Reports a Modest Growth Outlook for the U.S. Procure-to-Pay Market by 2028

The Procure-to-Pay (P2P) market in the United States is poised for transformation despite its current below-average projected growth rate. As organizations strive for greater operational efficiency and cost optimization, there is an increasing emphasis on automating and streamlining procurement and payment processes. The adoption of emerging technologies such as artificial intelligence (AI), machine learning (ML), and blockchain is expected to drive future advancements by enhancing transparency, reducing fraud, and improving decision-making.

Additionally, as digital transformation remains a priority, businesses are likely to adopt more sophisticated P2P solutions to stay competitive. Over time, these developments could revitalize the U.S. P2P market, fostering a more dynamic and innovative ecosystem.

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Key Questions Addressed in This Study:

·       What is the current competitive landscape of the Procure-to-Pay market in the U.S., and how will it evolve?

·       What are the key competitive dynamics shaping the U.S. Procure-to-Pay market?

·       How will vendors position themselves across different customer segments, from SMBs to large enterprises, by 2028?

·       How will cloud-based and on-premises P2P solutions compare among vendors in the U.S. market by 2028?

·       What are the strengths and challenges faced by vendors operating in the U.S. P2P market?

·       What market forecast trends will major industries follow in this space?

·       What competitive factors will influence vendor positioning in the market?

Strategic Market Insights

A Procure-to-Pay (P2P) platform facilitates the seamless management of the entire procurement lifecycle, covering requisitioning, purchasing, payment processing, and accounting for goods and services. These systems integrate with various cross-functional departments—such as purchasing, inventory, accounts payable, and finance—offering a unified source of truth.

By providing real-time visibility into spending, purchasing decisions, and supplier pricing, P2P solutions help organizations optimize procurement costs, mitigate financial and supplier risks, and ensure regulatory compliance while achieving key performance indicators (KPIs).

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Vendors covered in this Study:

Coupa, SAP (Ariba), GEP, Ivalua, Zycus, Jaggaer, Basware, Synertrade, Elcom, Oracle, OpusCapita, Corcentric, Medius, Proactis, Esker, BirchStreet Systems, and Varis.

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