Top Trending 2022
To achieve cost savings, increase efficiency, and manage risk and compliance, procurement must be included. This list can help procurement leaders identify and evaluate P2P suite vendors that can help them achieve their important procurement goals.
Define and describe the market
Procure-to-pay (P2P) suites are defined as integrated solutions with automated workflows for requesting, procuring, receiving, and paying for goods and services throughout an organisation. All P2P suites, at a minimum, include the following features:
> E-Purchasing: Self-service feature that allows customers to create orders for goods and services via electronic means. Catalogs, web forms, or free-text orders are used to do this. Upon approval, a requisition is turned into one or more purchase orders (POs) via a preset rule-based procedure. By email, portal, electronic data interchange (EDI), or XML integration, the POs are sent to vendors. Receipt can be accomplished via a mobile device, desktop PC, or docking station as the last step in the procedure.
> Accounts Payable Invoice Automation (APIA): It is possible to record and automate bills, including rule-based matching against POs, or to support account coding and approval routines when there is no PO in existence. Transportation costs and other fees (like as taxes) that may not be included in POs are handled by APIA tools. Also included is e-invoicing, which allows for the electronic exchange and storing of legally recognised invoices. EDI, punch-out, supplier self-service PO flip, and CSV file upload are all examples of this type of upload. Suppliers have access to invoice acceptance and remittance status via network or portal functionality.
Additional features offered by P2P suite suppliers might include:
> Management of the budget
> Managing a mobile workforce
> supply-chain finance via dynamic discounting or dynamic discounting (SCF)
> Keeping track of inventory
> Management of suppliers and/or supplier registration (SIM)
> Control of employee spending
> Payments
Top Trending Vendors
Basware
As part of a complete P2P suite, Basware's Procure-to-Pay solution offers robust accounts payable (AP) capabilities to cover direct and indirect expenditures as well as service expenditures. Its clients tend to be huge corporations, and its operations are spread out over the globe. There are three major industries in this country: manufacturing, services, and finance. AI-based advancements (such as upgrading SmartPDF, SmartCoding and Smart Workload allocation capabilities) and regional marketplace networks are Basware's immediate investment priorities.
Coupa
P2P is a key component of Coupa's source-to-pay approach, and it largely supports indirect and service spending through its Coupa Business Spend Management suite. It has a wide spectrum of clientele, ranging from huge corporations to small businesses. When it comes to industry, financial services, technology, and manufacturing are Coupa's top three clients. These include universal platform search, P2P process insights powered by AI and community intelligence and supplier collaboration on demand projections and POs in the immediate future.
Esker
As part of a broader P2P solution, the Esker Procure-to-Pay system focuses on providing robust AP capabilities. The company's operations span the globe, and the majority of its clients are multinational corporations in the EMEA and North American regions. Services, industrial equipment, and food and beverage make up the majority of the economy. Mobile ordering, supplier scoring (including a CSR score), and direct spend support are all near-term Esker investment priorities.
GEP
This company's GEP SMART package focuses on P2P as a component of a broader source-to-pay strategy that supports direct, indirect, and service spending. Its clientele tend to be huge corporations based in North America and Western Europe, and its operations are spread out around the globe. Oil and gas, chemicals, and banking/finance/insurance are the country's top three industries. Investments in GEP's near future will include fraud detection and monitoring, improved AI-based search for guided purchasing, and goods receipt (GR) based invoicing.
Ivalua
In addition to facilitating direct, indirect, and service spending, its Ivalua Procure-to-Pay package also provides P2P. Its clientele tend to be huge corporations based in North America and Europe, and its operations are spread across the globe. Manufacturing, financial services, and the public sector round up the state's top three economic sectors. The Ivalua Supplier Community, improved guided purchasing for services and payment capabilities, such as virtual cards, direct bank integration, and digital check payments, are among the near-term investments that will be made.
JAGGAER
Direct, indirect, and service spending are all supported by JAGGAER Procure-to Pay, which provides P2P as part of a comprehensive strategy for sourcing and paying. Its clientele tend to be huge corporations based in North America and Western Europe, and its operations are spread out around the globe. Manufacturing, life sciences/pharmaceuticals, and education are the country's three most important sectors. JAGGAER's near-term investments include payment enhancements such as global support for virtual cards and ACH/wire transfer payments, increasing procurement capabilities for contingent labour and services, and improving commercial search.
Medius
Direct and indirect spending are the primary targets of Medius Spend Management Suite's P2P functionality as part of a broader source-to-pay strategy. As a result, the company's clients tend to be mid- to large-sized enterprises based in North America, Europe, and Australia. Manufacturing, food and beverage, and wholesale distribution are the country's three most important industries. Medius is now focusing on intelligent payment scheduling, Slack integration, and increasing onboarding features to shorten the time it takes to adopt P2P.
Mercado Eletrônico
Most of its Mercado Eletrônico procurement is centred on providing P2P support for indirect spending, with some direct and service support. Customers range from small businesses to multinational corporations based in Brazil, Portugal, the United States, and Mexico. It's weighing the pros and cons of branching out into new areas. Industrial, food and agriculture are the country's most important sectors. Self-service workflow engine for buyers, buyer approvals on the marketplace, and procurement automation using predefined parameters and AI algorithms are some of Mercado Eletrônico's near-term investment areas
Oracle
As part of an overall ERP strategy, Oracle Fusion Cloud Procurement provides P2P as part of a P2P solution. The company's operations span the globe, and the majority of its clients are global midrange and big corporations. Financial services, government, and manufacturing make up the bulk of the country's economy. New Redwood user interface features such as DataFox supplier intelligence, AI-based spend classification, and procurement self-service will be Oracle's focus in the short term.
Proactis
This source-to-pay solution emphasises P2P as an integral aspect of the procurement process. The majority of its business is conducted in the United Kingdom, and its clients are often mid-sized companies in Western Europe and North America. Financial services, education, and the public sector make up the bulk of its economy. Short-term investment priorities for Proactis include predictive and prescriptive analytics; internal collaboration with platforms like Teams and Zoom; and the implementation of a digital assistant. A new supplier network is also being developed by Proactis.
SAP
SAP Ariba combined with SAP Fieldglass is one of its procurement solutions. For SAP, enabling P2P as part of a source to pay and ERP strategy that supports direct, indirect, and service spending is a primary focus. Its operations span the world, and the company's clients come from all corners of the globe. Financial services, manufacturing and automobiles are among the top three industries in the area. A new search engine integration in guided purchasing, interaction with collaborative platforms, and AI-based capabilities such as intelligent approval based on user behaviour are also near-term investment priorities.
Zycus
Indirect spending is the primary emphasis of Zycus Procure-to-Zycus Pay's P2P suite. Because of the company's global reach and clientele made up mostly of multinational corporations, its operations span the globe. Financial services, manufacturing and automobiles are among the top three industries in the area. AppXtend deployment, Merlin analytics and process mining for P2P, and better direct material procurement collaboration are Zycus' near-term investment areas.
Explore more top trending software for 2022:
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