Technology continues its rapidly evolution as it tries to match the pace of change in the business environment. With this evolution comes complexity and an increasingly competitive marketplace. The Gartner Magic Quadrant is positioned as the first step towards understanding the some of the technology providers for consideration when organisations are investing in a specific technology.
Procure-to-pay (P2P) suites are sets of integrated solutions supporting processes that may be termed “transactional” or “operational” procurement. They have automated workflows to request, procure, receive and pay for goods and services across an enterprise. They are marketed as suitable solutions for processing, at a basic level, all the various types of spending — indirect goods, direct goods and services spending.
The procure-to-pay suite market is growing rapidly as organizations seek automation and innovation to control spending and improve supplier collaboration. Gartner estimates that the overall market for P2P software (including both on-premises and cloud/SaaS solutions) reached $3.0 billion in 2018.
In the July 2019 edition of the Magic Quadrant for Procure-to-Pay Suites, Gartner identified Coupa as a Leader due to its strong innovation and deep market understanding, as well as its strong product and customer experience. Coupa was the second-most discussed vendor in Gartner clients’ inquiries about procurement technology in 2018. Coupa is well suited to organizations seeking an innovative P2P solution that is easy to use.
Click here to find out more about Gartner’s assessment and recommendation when acquiring Procure-to-Pay Suites.