Top 10 P2P Platforms
In the ever-evolving landscape of procurement, the advent of Procure-to-Pay (P2P) solutions has ushered in a new era of efficiency and optimisation. These platforms, designed to streamline purchasing processes from requisition to payment, are instrumental in driving transformative change across industries.
Procurement Magazine takes a closer look at the Top 10 ‘P2P companies’ as organisations find ways to harness AI to ensure savings deals they struck have the required impact on their bottom line.
10. Medius
Revenue: US$180bn
Employees: 400
CEO: Jim Lucier
Founded: 2001
Medius holds a suite of e-procurement resolutions, including data insights, strategic sourcing and P2P.
Serving more than 500,000 unique users worldwide using its spend management solutions and managing transactions, Medius also has more than 4,000 customers across 102 countries and processes US$180bn in annual spend through its system.
In July 2023, Medius acquired expense management software company Expensya, harnessing the Tunisian startup’s powerful AI-enabled, mobile-first, employee spend management capabilities.
9. Zycus Procure to Pay Suite
Revenue: US$285.7m
Employees: 1726
CEO: Aatish Dedhia
Founded: 1998
Founded in Princeton, New Jersey, Zycus Procure to Pay Suite stands out for its comprehensive end-to-end procurement solution, offering advanced automation, intelligent insights and configurable workflows.
With features such as supplier collaboration tools and real-time analytics, Zycus empowers organisations to optimise their procurement processes, enhance visibility and drive strategic decision-making.
8. Proactis Procure-to-Pay
Revenue: US$120
Employees: 594
CEO: Stephen Line
Founded: 1996
An integrated procurement solution, Proactis is renowned for its flexible and scalable platform, catering to the diverse needs of organisations across various industries. It is known for simplifying the buying process with guided buying, enabling even occasional users to navigate seamlessly.
The platform boasts automated approval workflows, real-time spend analytics and supplier collaboration tools, enhancing efficiency and transparency. By centralising procurement functions, Proactis P2P provides businesses with better visibility into spending, fosters stronger supplier relationships and drives significant cost savings.
7. Basware P2P
Revenue: US$165.4m
Employees: 1862
CEO: Jason Kurtz
Founded: 1985
Basware P2P is a trusted global leader in the industry.
Its P2P solution delivers end-to-end visibility and control over the procurement lifecycle. With features such as electronic invoicing, dynamic discounting and supplier collaboration portals, Basware empowers organisations to optimise working capital, reduce costs and drive efficiency across their procurement operations.
By taking advantage of automation, reducing errors and centralising its data, users have the chance to enhance collaboration with suppliers, find better deals and get those all important cost savings.
6. Ivalua Procure-to-Pay
Revenue: US$181M
Employees: 1004
CEO: David Khuat-Duy
Founded: 2000
Ivalua Procure-to-Pay stands out for its comprehensive suite of procurement solutions, including spend analysis, sourcing and contract management.
Focusing on user experience and configurability, allowing for the digitisation of the P2P process for categories of goods and services, bringing maverick spending down, improving contract compliance and improving cycle time as part of a unified platform.
It offers a user-friendly platform that integrates procurement, invoicing and payment functionalities, ensuring greater efficiency and cost savings.
5. Oracle Fusion Cloud Procurement
Revenue: US$50bn
Employees: 164,000
CEO: Safra Catz
Founded: 1977
An integrated suite that automates business processes, enables strategic sourcing, improves supplier relationship management and simplifies buying, Oracle Fusion Cloud Procurement lowers risk, improves savings and increases profitability.
Key focus areas for Oracle Fusion Cloud Procurement include supplier management, sourcing, procurement contracts, purchasing, direct procurement and procurement analytics.
Oracle’s solution increases agility, collaboration, supplier performance, productivity, compliance and visibility.
4. GEP SMART
Revenue: US$1bn
Employees: 5,600
CEO: Subhash Makhija
Founded: 1999
A world leading procurement platform, GEP Smart digitally transforms end-to-end procurement operations with intelligent, unified procurement software powered by AI. It offers spend analysis, savings tracking, sourcing, contract management, supplier management and P2P capabilities.
GEP SMART drives greater efficiency and performance with its comprehensive solution for direct and indirect procurement to streamline and automate all processes.
3. JAGGAER ONE
Revenue: US$105mn
Employees: 1,118
CEO: Andy Hovancik
Founded: 1995
Providing one complete platform for procurement, JAGGAER ONE is an intelligent and flexible solution to drive spend management excellence.
JAGGAER ONE provides consistency, transparency, visibility, adaptability, insights and automation.
Offering best-in-class solutions JAGGAER ONE allows users to manage procurement spend in one place, as well as shorter time to value with fast implementation and integration. It also allows for easy collaboration, consistency and improved efficiency.
2. Coupa BSM Platform
Revenue: US$725mn
Employees: 3,000
CEO: Rob Bernshteyn
Founded: 2006
Designed to work seamlessly to ensure maximum value from business spend, Coupa BSM platform allows companies to manage and optimise all spend across a business. The platform provides a consistent approach for making and managing business spend decisions and transactions.
Coupa’s BSM platform allows companies to ensure continuity of supply, improve operational efficiency, improve margins, and deliver on ESG goals.
1. SAP Ariba Buying and Invoicing
Revenue: US$31bn (SAP)
Employees: 105,000+ (SAP)
CEO: Christian Klein
Founded: 1996
At number one, SAP Ariba is the leading procurement and supply chain software provider. SAP Ariba’s buying and invoicing solutions replace the complex steps of the function with a more-automated experience to ensure employees make the best buying decisions.
The user friendly, cloud-based platforms provides many benefits to make procurement faster, reduce errors, boost productivity, and cut costs, including:
- Streamline the purchasing experience
- Generate sustainable savings
- Enhance visibility and control
- Bring spending on non-sourced, one-off, or emergency purchases under management
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