Top 13 Procurement Software Companies in 2025

Procurement Software Companies

Procurement software has rapidly evolved into an essential tool for businesses looking to streamline purchasing processes, improve vendor relationships, and reduce operational costs.

In 2024, the procurement software market is booming, with shocking statistics revealing that the global procurement software market is expected to grow from $5.94 billion in 2021 to over $9.50 billion by 2026. With 57% of businesses reporting the adoption of some form of procurement software, it's evident that this technology is no longer a luxury but a necessity.

In this comprehensive guide, we will dive into the top 13 procurement software companies, discussing their performance, features, and recent developments. This article includes a table comparing their 2020-2024 revenues, YoY growth, and market share, along with their pros and cons.

Procurement Software Company Revenue & Market Share Overview

Company 2024 Rev 2023 Rev 2022 Rev 2021 Rev 2020 Rev YoY Growth Market Share (%)
Coupa Software $1.3B $1.1B $850M $640M $510M 18% 21%
SAP Ariba $2.0B $1.8B $1.5B $1.3B $1.1B 12% 29%
GEP SMART $960M $820M $700M $600M $520M 17% 10%
Ivalua $720M $630M $540M $450M $400M 14% 7%
Jaggaer $850M $750M $620M $540M $480M 13% 8%
Oracle Procurement $1.5B $1.3B $1.1B $900M $700M 15% 24%
Zycus $600M $530M $450M $380M $320M 13% 6%
Basware $470M $420M $360M $300M $250M 12% 5%
Precoro $200M $170M $140M $110M $80M 18% 3%
Procurify $340M $300M $240M $200M $150M 13% 4%
SynerTrade $280M $240M $200M $160M $130M 15% 2%
Kissflow Procurement $180M $150M $120M $100M $80M 14% 1%
Tradogram $130M $110M $90M $70M $50M 18% 1%

1. Coupa Software

what is procurement software

Coupa Software is a leader in the cloud-based spend management space. Its procurement software helps businesses manage their procurement processes, reduce costs, and improve compliance.

  • 2024 Revenue: $1.3B
  • YoY Growth: 18%
  • Market Share: 21%
  • Recent Developments: Coupa acquired AI-based analytics firm Llamasoft to enhance its AI capabilities in procurement.
Top Features:
  • Comprehensive spend visibility
  • AI-driven insights
  • Supplier management tools
Pros Cons
Powerful spend management features Steeper learning curve for smaller businesses
AI-driven insights for better decision-making Higher cost compared to competitors

Website Link
G2 Link
Trustpilot Link

2. SAP Ariba

What is SAP procurement software?

SAP Ariba provides cloud-based solutions for procurement and supply chain management. It helps organizations connect to the world's largest business network for collaboration with suppliers and partners.

  • 2024 Revenue: $2.0B
  • YoY Growth: 12%
  • Market Share: 29%
  • Recent Developments: SAP Ariba integrated more AI and machine learning tools for smarter supply chain management.
Top Features:
  • Supplier risk management
  • Invoice management
  • Contract lifecycle management
Pros Cons
Strong global supplier network High implementation costs
Great integration with SAP ERP Complex user interface

Website Link
G2 Link
Trustpilot Link

3. GEP SMART

top procurement software

GEP SMART is an AI-powered procurement platform designed for enterprises looking to optimize their procurement processes.

  • 2024 Revenue: $960M
  • YoY Growth: 17%
  • Market Share: 10%
  • Recent Developments: GEP SMART launched a new sustainability-focused procurement module.
Top Features:
  • AI and ML-driven procurement analytics
  • Supplier management
  • Contract management
Pros Cons
Intuitive interface Limited integration with non-enterprise tools
Strong AI-driven features Slower customer support for smaller clients

Website Link
G2 Link

4. Ivalua

What are the 3 types of procurement?

Ivalua is known for offering a complete source-to-pay suite that enables businesses to manage their procurement lifecycle efficiently.

  • 2024 Revenue: $720M
  • YoY Growth: 14%
  • Market Share: 7%
  • Recent Developments: Ivalua expanded its supplier collaboration tools to enhance real-time interaction.
Top Features:
  • Spend analysis
  • Supplier relationship management
  • Procurement workflows
Pros Cons
Flexible and customizable procurement flows Requires advanced configuration for full usage
Strong supplier management features Costly for small-to-medium businesses

Website Link
G2 Link

5. Jaggaer

What are procurement software companies? jaggaer

Jaggaer offers a comprehensive source-to-pay solution that focuses on procurement optimization for enterprises across industries.

  • 2024 Revenue: $850M
  • YoY Growth: 13%
  • Market Share: 8%
  • Recent Developments: Jaggaer rolled out enhanced AI-powered procurement automation tools in 2024.
Top Features:
  • Automated procurement workflows
  • Supplier performance management
  • Contract management
Pros Cons
Highly customizable workflows Higher price point
AI-driven insights for spend management Complex onboarding process

Website Link
G2 Link

6. Oracle Procurement Cloud

Which is the best procurement software? Oracle

Oracle Procurement Cloud offers a scalable solution that integrates seamlessly with Oracle’s other ERP offerings.

  • 2024 Revenue: $1.5B
  • YoY Growth: 15%
  • Market Share: 24%
  • Recent Developments: Oracle added blockchain support for improved procurement transparency and security.
Top Features:
  • Cloud-based procurement
  • Supplier qualification management
  • Integrated financial analytics
Pros Cons
Excellent integration with Oracle ERP Expensive for smaller organizations
Strong data analytics and reporting User interface can be improved

Website Link
G2 Link

7. Zycus

best procurement software

Zycus offers an AI-driven procurement suite designed to automate source-to-pay processes for businesses of all sizes.

  • 2024 Revenue: $600M
  • YoY Growth: 13%
  • Market Share: 6%
  • Recent Developments: Zycus introduced
    a new AI-powered supplier risk management module.
Top Features:
  • Automated procurement processes
  • Spend analysis and reporting
  • Supplier collaboration tools
Pros Cons
AI-driven supplier risk management Limited customization options
Comprehensive source-to-pay automation Longer implementation times

Website Link
G2 Link

8. Basware

cloud procurement software

Basware offers a cloud-based solution that focuses on procurement, invoicing, and payment automation.

  • 2024 Revenue: $470M
  • YoY Growth: 12%
  • Market Share: 5%
  • Recent Developments: Basware expanded its analytics capabilities to improve procurement visibility.
Top Features:
  • Invoice automation
  • Spend management
  • Supplier collaboration tools
Pros Cons
Strong focus on invoice automation Limited in advanced procurement features
High procurement visibility Not ideal for large enterprises

Website Link

9. Precoro

Precoro

Precoro offers a simple and intuitive procurement solution, ideal for small-to-medium-sized businesses looking for affordable procurement management.

  • 2024 Revenue: $200M
  • YoY Growth: 18%
  • Market Share: 3%
  • Recent Developments: Precoro introduced a new budgeting module for better spend forecasting.
Top Features:
  • Budget management
  • Approval workflows
  • Vendor management
Pros Cons
Affordable for small businesses Limited integration with large enterprise systems
Easy-to-use interface Basic features for large-scale procurement

Website Link
G2 Link

10. Procurify

Procurify

Procurify focuses on spend management and procurement workflows for growing businesses, offering an easy-to-use platform.

  • 2024 Revenue: $340M
  • YoY Growth: 13%
  • Market Share: 4%
  • Recent Developments: Procurify released an integration with QuickBooks for seamless financial management.
Top Features:
  • Expense tracking
  • Purchase order management
  • Budget tracking
Pros Cons
Easy integration with accounting software Limited advanced analytics
Intuitive for non-technical users Lacks features for large enterprises

Website Link
G2 Link

11. SynerTrade

procurement software provider

SynerTrade is an innovative procurement platform that supports a range of procurement processes from source-to-pay.

  • 2024 Revenue: $280M
  • YoY Growth: 15%
  • Market Share: 2%
  • Recent Developments: SynerTrade introduced advanced data analytics for enhanced supplier performance insights.
Top Features:
  • Supplier performance management
  • Spend analysis
  • Procurement automation
Pros Cons
Strong data analytics tools Limited third-party integrations
Comprehensive supplier performance features Higher price point for smaller businesses

Website Link
G2 Link

12. Kissflow Procurement

Kissflow Procurement

Kissflow offers a lightweight procurement solution with a focus on simplicity and ease of use for small and medium businesses.

  • 2024 Revenue: $180M
  • YoY Growth: 14%
  • Market Share: 1%
  • Recent Developments: Kissflow released a new mobile app to streamline procurement on the go.
Top Features:
  • Automated procurement workflows
  • Supplier management
  • Mobile accessibility
Pros Cons
Simple and easy to implement Lacks advanced customization features
Affordable for small businesses Not suitable for large enterprises

Website Link

13. Tradogram

Tradogram

Tradogram provides an affordable procurement solution for small businesses looking for an easy-to-use procurement tool.

  • 2024 Revenue: $130M
  • YoY Growth: 18%
  • Market Share: 1%
  • Recent Developments: Tradogram introduced enhanced approval workflows for better spend control.
Top Features:
  • Purchase order management
  • Budget tracking
  • Supplier management
Pros Cons
Affordable and user-friendly Limited features for enterprise businesses
Great customer support Basic analytics and reporting

Website Link
G2 Link

Procurement Software Companies: Who Are Their Top Customers?

Customer Industry Employee Rev Country Provider
Nike Retail 76,700 $44.5B USA Coupa Software
Siemens Manufacturing 293,000 $93B Germany SAP Ariba
PepsiCo Consumer Goods 267,000 $86.4B USA GEP SMART
Nestlé Food & Beverage 276,000 $95.7B Switzerland Ivalua
Unilever Consumer Goods 148,000 $62.6B UK Jaggaer
BP Energy 67,600 $164.2B UK Oracle Procurement Cloud
Coca-Cola Food & Beverage 82,500 $43B USA Zycus
L'Oréal Cosmetics 85,400 $37.6B France Basware
Volkswagen Group Automotive 662,600 $295B Germany Coupa Software
GlaxoSmithKline (GSK) Pharmaceuticals 99,500 $44.2B UK SAP Ariba
General Electric (GE) Energy 168,000 $74.2B USA GEP SMART
Procter & Gamble (P&G) Consumer Goods 101,000 $80.2B USA Ivalua
HSBC Banking & Finance 226,000 $54.9B UK Jaggaer
ExxonMobil Energy 62,000 $276B USA Oracle Procurement Cloud
BMW Group Automotive 118,000 $123B Germany Zycus
Pfizer Pharmaceuticals 83,000 $81.2B USA Basware
ABB Group Engineering 105,000 $29.4B Switzerland Coupa Software
Royal Dutch Shell Energy 86,000 $380B Netherlands SAP Ariba
Johnson & Johnson Pharmaceuticals 152,700 $94.9B USA GEP SMART
IBM IT & Software 288,000 $60.5B USA Ivalua

The companies listed above are some of the largest and most well-known businesses across various industries, from retail and consumer goods to energy and pharmaceuticals. Each of these companies has implemented advanced procurement software to streamline their procurement processes, drive efficiencies, and gain better control over their spending. From Nike's global retail operations using Coupa Software to BMW's automotive empire benefiting from Zycus, these organizations illustrate the power of procurement software in optimizing supply chain management and vendor relationships.

Whether it's Siemens integrating SAP Ariba for large-scale manufacturing procurement, or Pfizer enhancing its pharmaceutical procurement with Basware, these companies demonstrate how procurement software is transforming the way businesses operate by driving growth, improving compliance, and reducing operational costs.

Conclusion

Procurement software is no longer a “nice to have” but a “must-have” for businesses looking to streamline their procurement operations. As seen from the YoY growth rates and increasing market shares, the top procurement software companies are continually innovating, focusing on AI, automation, and better supplier management.

Whether you are a small business looking for affordability or an enterprise seeking comprehensive features, this guide provides insight into the top 13 procurement software solutions for 2024.

FAQs

What is procurement software?

Procurement software is a digital tool or platform designed to streamline and automate the procurement process for businesses. It helps manage the sourcing, purchasing, and management of goods and services from suppliers. This software typically includes features for supplier management, purchase order creation, invoice processing, and spend analysis. By using procurement software, companies can ensure efficiency, cost savings, and transparency throughout their procurement operations.

What is SAP procurement software?

SAP procurement software, part of the SAP Ariba platform, is a comprehensive solution designed to digitize and integrate the entire procurement lifecycle. It connects buyers and suppliers, allowing businesses to manage sourcing, purchasing, contract management, and supplier collaboration all in one place. SAP’s procurement software enhances operational efficiency by providing real-time data, automating processes, and supporting strategic sourcing decisions. It is widely used by large enterprises to improve procurement visibility and compliance.

Which is the best procurement software?

The best procurement software depends on the specific needs of your business, but some of the top-rated options include SAP Ariba, Coupa, and Oracle Procurement Cloud. These platforms offer extensive features such as supplier management, spend analysis, contract management, and purchase order automation. SAP Ariba is known for its vast network of suppliers, Coupa excels in spend management, and Oracle offers seamless integration with other Oracle business applications. Businesses should evaluate these platforms based on ease of use, scalability, and specific procurement needs.

What are the 3 types of procurement?

The three main types of procurement are direct procurement, indirect procurement, and services procurement:

  1. Direct procurement involves purchasing raw materials or goods used directly in the production of a company's products, such as components in manufacturing.
  2. Indirect procurement refers to purchasing goods and services that support the company's operations but are not directly tied to production, such as office supplies or IT services.

Services procurement focuses on sourcing and managing external service providers, such as contractors, consultants, or maintenance services.


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