QKS Group Reveals Strong Growth Outlook for the Procure-to-Pay (P2P) Market, Forecasting a 9% CAGR by 2028

The global pandemic has significantly disrupted supply chains worldwide, compelling organizations to strengthen business continuity and resilience to navigate ongoing uncertainty. As a result, businesses are focusing on improving compliance management, enhancing governance, optimizing data handling, breaking down operational silos, and increasing overall agility. In response to these challenges, organizations are emphasizing cost savings, automating end-to-end P2P workflows, achieving enterprise-wide visibility, and minimizing cash flow risks.

The growing push toward digital transformation has accelerated the shift from manual to automated procure-to-pay processes—covering procurement requests, purchasing, invoicing, and supplier collaboration. Enterprises are investing heavily in advanced technologies such as artificial intelligence (AI), machine learning (ML), blockchain, natural language processing (NLP), and robotic process automation (RPA). P2P solution providers are evolving their offerings to streamline workflows, automate invoice matching, enhance supplier and employee evaluations, and enable real-time visibility into procurement and spending activities.

Modern Procure-to-Pay (P2P) Suites are also integrating AI-driven guided buying features, which simplify decision-making through intuitive interfaces, helping users choose the most suitable products and suppliers efficiently.

Key Questions Addressed in This Study:

What is the projected growth rate of the global Procure-to-Pay (P2P) market?

What are the major growth drivers and challenges influencing the market?

Which industries present the most promising opportunities during the forecast period?

Which global regions are expected to experience the highest growth in the P2P market?

Which customer segments show the strongest adoption potential?

Which deployment models are likely to see the fastest growth over the next five years?

Strategic Market Direction:

The Procure-to-Pay market has reached a stage of maturity, showing steady and sustained growth. However, evolving business environments across sectors such as retail, CPG, life sciences, BFSI, oil and gas, automotive, manufacturing, aviation, telecom, media, and services are prompting organizations to modernize and automate their procurement and sourcing functions. Enhancing customer experience through agile and responsive supply chain operations is becoming a critical success factor across industries.

Leading vendors are continuously investing in value-added functionalities beyond traditional sourcing and contracting capabilities, helping enterprises tackle dynamic market challenges while driving innovation and revenue growth.

Major Vendors Covered:

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

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