The Europe Procure-to-Pay (P2P) solutions market size is projected to reach US$ 4.16 billion by 2031 from US$ 2.16 billion in 2023. The market is expected to register a CAGR of 8.5% in 2023–2031.
The Procure-to-Pay (P2P) solutions market trends include the growing demand for cloud-based solutions and digital transformation in the industry.
Europe Procure-to-Pay (P2P) Solutions Market Analysis
There is a significant influence of regulatory factors, such as adherence to Pan-European Public Procurement Online (PEPPOL) regulations, in the procure-to-pay (P2P) solutions market in Europe. Businesses in Europe need P2P solutions that interface easily with e-invoicing systems, allowing for efficient and regulated electronic invoicing procedures. The emphasis on sustainability in Europe also influences P2P solutions, with companies seeking purchase-to-pay solutions that integrate advanced technology considerations into their procurement procedures. PEPPOL is not an e-procurement platform; however, it offers a set of technical specifications that can be applied to existing e-business exchange services and e-procurement solutions. By joining the PEPPOL network, organizations can increase the effectiveness of their own P2P process through the automation of the import of documents exchanged in the PEPPOL network into their financial system. PEPPOL was originated by the European public sector and intended to exchange electronic purchasing documents with its suppliers. However, the network has grown in popularity and is no longer used exclusively for exchange with the government. Currently, every organization can exchange documents and invoices with other establishments that are associated with the PEPPOL network.
Europe Procure-to-Pay (P2P) Solutions Market Overview
The Procure-to-Pay (P2P) solutions process encompasses the seamless integration of purchasing and accounts payable systems to optimize operational efficiencies. As an integral part of the broader procurement management framework, P2P involves four critical stages: the selection of goods and services that align with organizational needs and objectives; ensuring compliance and issuing purchase orders to formalize the procurement process; receiving and reconciling the delivered goods or services with the initial orders; and managing the invoicing and payment procedures. This end-to-end process streamlines and enhances the entire procurement lifecycle, allowing businesses to achieve cost savings, mitigate risks, and gain greater control and transparency over their purchasing activities. Organizations can efficiently oversee global purchasing, approvals, compliance, payments, and supplier management by implementing a digitized and automated procure-to-pay process. This streamlined approach enables seamless coordination across international operations, facilitates swift decision-making, ensures adherence to regulatory requirements, and strengthens supplier relationships. Additionally, automation enhances visibility into the entire procure-to-pay cycle, empowering businesses to optimize cash flow, minimize errors, and drive operational agility.
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Europe Procure-to-Pay (P2P) Solutions Market: Strategic Insights
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Europe Procure-to-Pay (P2P) Solutions Market Drivers and Opportunities
Rising Use of Mobile Procurement Solutions to Favor Market
Mobile procurement refers to any business software that allows end users to control their procurement processes from any mobile device. With mobile procurement solutions, end users can generate purchase orders, be involved in real-time analysis of their procurement events, receive notifications, and control the overall P2P operation. Creating and improving mobile procurement solutions allows consumers to start, authorize, and monitor procurement processes while on the move, accelerating decision-making, improving user engagement, and optimizing procurement operations. According to SAP, with a digitalized and automated procure-to-pay process, organizations can easily manage buying, approvals, compliance, payments, and suppliers globally. Digitalizing the procurement process with procure-to-pay software solutions can strengthen compliance and control among vendors, contracts, regulations, buyers, and accounts payable. This emphasizes the importance of using mobile devices to streamline and optimize the procurement process.
Proactis highlights that its mobile P2P App enables users to manage electronic invoices and purchase requisition tasks on their mobile devices. This flexibility allows for managing procurement operations while on the move, aligning with the potential of leveraging mobile devices to accelerate decision-making and optimize procurement operations. In conclusion, the widespread use of mobile devices presents significant potential in the Europe procure-to-pay P2P solutions market. Using mobile procurement solutions allows for greater flexibility, improved user engagement, and optimized procurement operations, aligning with the evolving needs of businesses in the digital age.
Technological Innovations and Automation
Procure-to-pay technology integrates workflows digitally to free up staff bandwidth from manual processing for value-add analysis on costs, spending, and suppliers. P2P automation consolidates purchase order data across procurement and finance functions onto combined cloud platforms for transparency. Further, technologies such as machine learning (ML), artificial intelligence (AI), natural language processing (NLP), and advanced analytics ease different stages while eliminating repetitive manual efforts. For instance, AI-driven analytics platforms transform the spend visibility by cleaning, aggregating, and categorizing enormous amounts of spend data from various sources. These platforms offer businesses a granulated view of their expenditure, breaking down expenditure by department, category, and supplier. Further, through the application of AI, organizations can automate the majority of tasks associated with invoice processing. This includes the validation and extraction of invoice data, matching invoices with corresponding purchase receipts and orders, and facilitating the reconciliation and approval process.
Europe Procure-to-Pay (P2P) Solutions Market Report Segmentation Analysis
Key segments that contributed to the derivation of the Procure-to-Pay (P2P) solutions market analysis are Component, Industry, Organization size, and deployment.
- Based on component, the market is segmented into solution and services. The solution segment held a larger share in the Europe Procure-to-Pay (P2P) solutions market in 2023.
- The demand for P2P solutions is increasing among the end-use industries as P2P software solutions strengthen compliance and control among vendors, contracts, regulations, buyers, and accounts payable.
- Based on organization size, the market is divided into large enterprises and small and medium enterprises. The large enterprises segment held a larger share in the Europe Procure-to-Pay (P2P) solutions market in 2023.
- Based on deployment, the market is segmented into on-premise and cloud-based. The cloud-based segment held a larger share in the Europe Procure-to-Pay (P2P) solutions market in 2023.
Europe Procure-to-Pay (P2P) Solutions Market Share Analysis by Geography
The geographic scope of the Procure-to-Pay (P2P) solutions market report is mainly divided into France, Italy, Spain, Portugal, and the Rest of Europe. Countries in Europe are embracing digital transformation and considering it as a key opportunity to boost the economic growth of the region. The European Union's (EU) Digital Decade policy program is a collaborative initiative that aims to make digital transformation in four areas—skills, infrastructure, business, and government—by 2030. According to the Eurostat report, "Digitalisation in Europe – 2023 edition," 70% of all EU companies achieved a basic level of digital intensity in 2022, based on the number of digital technologies used. The increasing government focus on bringing digitalization to the region is a crucial factor fueling the adoption of digital solutions such as Procure-to-Pay (P2P) solutions by enterprises. Enterprises are increasingly adopting these solutions to optimize their operational efficiency, from procurement of products or services to payments and invoicing.
Europe Procure-to-Pay (P2P) Solutions Market News and Recent Developments
The Europe Procure-to-Pay (P2P) solutions market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. The following is a list of developments in the Procure-to-Pay (P2P) solutions market:
- In 2023, Ivalua, a provider of spend management solutions, announced that Contentsquare, the global provider of digital experience analytics, has selected Ivalua and its implementation partner Cyrias to digitize its P2P operations. Contentsquare selected Ivalua's supplier risk and performance management (SRPM) and P2P solutions to streamline its P2P processes and improve operational efficiency by digitizing purchasing and invoicing operations. (Source: Ivalua, Press Release, 2023)
- In 2023, JAGGAER, a provider of Autonomous Commerce, announced additional features for its integrated payments system. JAGGAER Pay Open Connect allows end-to-end worldwide accounts payable (AP) automation by allowing customers to onboard suppliers, process invoices, and initiate all global payments in a single, completely linked solution. (Source: JAGGER, Press Release, 2023)
Europe Procure-to-Pay (P2P) Solutions Market Report Coverage and Deliverables
The "Europe Procure-to-Pay (P2P) solutions Market Size and Forecast (2022–2030)" report provides a detailed analysis of the market covering below areas:
- Market size and forecast at regional and country levels for all the key market segments covered under the scope
- Market dynamics such as drivers, restraints, and key opportunities
- Key future trends
- Detailed PEST/Porter's Five Forces and SWOT analysis
- Regional market analysis covering key market trends, major players, regulations, and recent market developments
- Industry landscape and competition analysis covering market concentration, heat map analysis, prominent players, and recent developments
- Detailed company profiles
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
This text is related
to segments covered.
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
This text is related
to country scope.
Frequently Asked Questions
Digital transformation initiative is the future trend of the Europe procure-to-pay (P2P) solutions market.
The key players, holding majority shares, in Europe procure-to-pay (P2P) solutions market includes Oracle, SAP SE, GEP, Coupa Software Inc., and Ivalua Inc.
The Europe procure-to-pay (P2P) solutions market was valued at US$ 2.16 billion in 2023; it is expected to grow at a CAGR of 8.5% during 2023–2031.
The Europe procure-to-pay (P2P) solutions market is expected to reach US$ 4.16 billion by 2031.
Factors such as Increasing demand for e-invoicing & regulatory influence and rising use of mobile procurement solutions are the driving the Europe procure-to-pay (P2P) solutions market growth.
1. Introduction
1.1 The Insight Partners Research Report Guidance
1.2 Market Segmentation
2. Executive Summary
2.1 Key Insights
3. Research Methodology
3.1 Coverage
3.2 Secondary Research
3.3 Primary Research
4. Europe Procure-to-Pay (P2P) Solutions Market Landscape
4.1 Overview
4.2 PEST Analysis
4.3 Ecosystem Analysis
4.3.1 Procure to Pay P2P Solution Providers
4.3.2 System Integrators
4.3.3 Government & Regulatory Bodies and Industry Associations
4.3.4 End Users
4.3.5 List of Vendors in the Value Chain
5. Europe Procure-to-Pay (P2P) Solutions Market – Key Market Dynamics
5.1 Europe Procure-to-Pay (P2P) Solutions Market – Key Market Dynamics
5.2 Market Drivers
5.2.1 Increasing Demand for E-Invoicing and Regulatory Influence
5.2.2 Rising Use of Mobile Procurement Solutions
5.2.3 Growing Demand for Cloud-Based Solutions
5.3 Market Restraints
5.3.1 Complexities Involved in Integration and Implementation of Procure-to-Pay Solutions
5.4 Market Opportunities
5.4.1 Technological Innovations and Automation
5.4.2 Integration with Enterprise Resource Planning Systems
5.5 Future Trends
5.5.1 Digital Transformation Initiative
5.6 Impact of Drivers and Restraints:
6. Europe Procure-to-Pay (P2P) Solutions Market Analysis
6.1 Europe Procure-to-Pay (P2P) Solutions Market Revenue (US$ Million), 2023–2031
6.2 Europe Procure-to-Pay (P2P) Solutions Market Forecast and Analysis
7. Europe Procure-to-Pay (P2P) Solutions Market Analysis – by Component
7.1 Solution
7.1.1 Overview
7.1.2 Solution: Europe Procure-to-Pay (P2P) Solutions Market – Revenue and Forecast to 2031 (US$ Million)
7.2 Services
7.2.1 Overview
7.2.2 Services: Europe Procure-to-Pay (P2P) Solutions Market – Revenue and Forecast to 2031 (US$ Million)
8. Europe Procure-to-Pay (P2P) Solutions Market Analysis – by Industry
8.1 Manufacturing
8.1.1 Overview
8.1.2 Manufacturing: Europe Procure-to-Pay (P2P) Solutions Market – Revenue and Forecast to 2031 (US$ Million)
8.2 Retail
8.2.1 Overview
8.2.2 Retail: Europe Procure-to-Pay (P2P) Solutions Market – Revenue and Forecast to 2031 (US$ Million)
8.3 Healthcare
8.3.1 Overview
8.3.2 Healthcare: Europe Procure-to-Pay (P2P) Solutions Market – Revenue and Forecast to 2031 (US$ Million)
8.4 IT and Telecom
8.4.1 Overview
8.4.2 IT and Telecom: Europe Procure-to-Pay (P2P) Solutions Market – Revenue and Forecast to 2031 (US$ Million)
8.5 Others
8.5.1 Overview
8.5.2 Others: Europe Procure-to-Pay (P2P) Solutions Market – Revenue and Forecast to 2031 (US$ Million)
9. Europe Procure-to-Pay (P2P) Solutions Market Analysis – by Organization Size
9.1 Large Enterprises
9.1.1 Overview
9.1.2 Large Enterprises: Europe Procure-to-Pay (P2P) Solutions Market – Revenue and Forecast to 2031 (US$ Million)
9.2 Small and Medium Enterprises (SMEs)
9.2.1 Overview
9.2.2 Small and Medium Enterprises (SMEs): Europe Procure-to-Pay (P2P) Solutions Market – Revenue and Forecast to 2031 (US$ Million)
10. Europe Procure-to-Pay (P2P) Solutions Market Analysis – by Deployment
10.1 On-Premise
10.1.1 Overview
10.1.2 On-Premise: Europe Procure-to-Pay (P2P) Solutions Market – Revenue and Forecast to 2031 (US$ Million)
10.2 Cloud-Based
10.2.1 Overview
10.2.2 Cloud-Based: Europe Procure-to-Pay (P2P) Solutions Market – Revenue and Forecast to 2031 (US$ Million)
11. Europe Procure-to-Pay (P2P) Solutions Market – Country Analysis
11.1 Europe
11.1.1 Europe Procure-to-Pay (P2P) Solutions Market Breakdown by Countries
11.1.2 Europe Procure-to-Pay (P2P) Solutions Market Revenue and Forecast and Analysis – by Country
11.1.2.1 Europe Procure-to-Pay (P2P) Solutions Market Revenue and Forecast and Analysis – by Country
11.1.2.2 France: Europe Procure-to-Pay (P2P) Solutions Market – Revenue and Forecast to 2031 (US$ Million)
11.1.2.2.1 France: Europe Procure-to-Pay (P2P) Solutions Market Breakdown by Component
11.1.2.2.2 France: Europe Procure-to-Pay (P2P) Solutions Market Breakdown by Industry
11.1.2.2.3 France: Europe Procure-to-Pay (P2P) Solutions Market Breakdown by Organization Size
11.1.2.2.4 France: Europe Procure-to-Pay (P2P) Solutions Market Breakdown by Deployment
11.1.2.3 Italy: Europe Procure-to-Pay (P2P) Solutions Market – Revenue and Forecast to 2031 (US$ Million)
11.1.2.3.1 Italy: Europe Procure-to-Pay (P2P) Solutions Market Breakdown by Component
11.1.2.3.2 Italy: Europe Procure-to-Pay (P2P) Solutions Market Breakdown by Industry
11.1.2.3.3 Italy: Europe Procure-to-Pay (P2P) Solutions Market Breakdown by Organization Size
11.1.2.3.4 Italy: Europe Procure-to-Pay (P2P) Solutions Market Breakdown by Deployment
11.1.2.4 Spain: Europe Procure-to-Pay (P2P) Solutions Market – Revenue and Forecast to 2031 (US$ Million)
11.1.2.4.1 Spain: Europe Procure-to-Pay (P2P) Solutions Market Breakdown by Component
11.1.2.4.2 Spain: Europe Procure-to-Pay (P2P) Solutions Market Breakdown by Industry
11.1.2.4.3 Spain: Europe Procure-to-Pay (P2P) Solutions Market Breakdown by Organization Size
11.1.2.4.4 Spain: Europe Procure-to-Pay (P2P) Solutions Market Breakdown by Deployment
11.1.2.5 Portugal: Europe Procure-to-Pay (P2P) Solutions Market – Revenue and Forecast to 2031 (US$ Million)
11.1.2.5.1 Portugal: Europe Procure-to-Pay (P2P) Solutions Market Breakdown by Component
11.1.2.5.2 Portugal: Europe Procure-to-Pay (P2P) Solutions Market Breakdown by Industry
11.1.2.5.3 Portugal: Europe Procure-to-Pay (P2P) Solutions Market Breakdown by Organization Size
11.1.2.5.4 Portugal: Europe Procure-to-Pay (P2P) Solutions Market Breakdown by Deployment
11.1.2.6 Rest of Europe: Europe Procure-to-Pay (P2P) Solutions Market – Revenue and Forecast to 2031 (US$ Million)
11.1.2.6.1 Rest of Europe: Europe Procure-to-Pay (P2P) Solutions Market Breakdown by Component
11.1.2.6.2 Rest of Europe: Europe Procure-to-Pay (P2P) Solutions Market Breakdown by Industry
11.1.2.6.3 Rest of Europe: Europe Procure-to-Pay (P2P) Solutions Market Breakdown by Organization Size
11.1.2.6.4 Rest of Europe: Europe Procure-to-Pay (P2P) Solutions Market Breakdown by Deployment
12. Competitive Landscape
12.1 Heat Map Analysis By Key Players
12.2 Company Positioning & Concentration
13. Industry Landscape
13.1 Overview
13.2 Market Initiative
13.3 Product Development
14. Company Profiles
14.1 Basware Corporation
14.1.1 Key Facts
14.1.2 Business Description
14.1.3 Products and Services
14.1.4 Financial Overview
14.1.5 SWOT Analysis
14.1.6 Key Developments
14.2 Synertrade Inc
14.2.1 Key Facts
14.2.2 Business Description
14.2.3 Products and Services
14.2.4 Financial Overview
14.2.5 SWOT Analysis
14.2.6 Key Developments
14.3 Infor Inc
14.3.1 Key Facts
14.3.2 Business Description
14.3.3 Products and Services
14.3.4 Financial Overview
14.3.5 SWOT Analysis
14.3.6 Key Developments
14.4 Precoro, Inc
14.4.1 Key Facts
14.4.2 Business Description
14.4.3 Products and Services
14.4.4 Financial Overview
14.4.5 SWOT Analysis
14.4.6 Key Developments
14.5 Pipefy Inc.
14.5.1 Key Facts
14.5.2 Business Description
14.5.3 Products and Services
14.5.4 Financial Overview
14.5.5 SWOT Analysis
14.5.6 Key Developments
14.6 Oracle Corp
14.6.1 Key Facts
14.6.2 Business Description
14.6.3 Products and Services
14.6.4 Financial Overview
14.6.5 SWOT Analysis
14.6.6 Key Developments
14.7 SAP SE
14.7.1 Key Facts
14.7.2 Business Description
14.7.3 Products and Services
14.7.4 Financial Overview
14.7.5 SWOT Analysis
14.7.6 Key Developments
14.8 GEP
14.8.1 Key Facts
14.8.2 Business Description
14.8.3 Products and Services
14.8.4 Financial Overview
14.8.5 SWOT Analysis
14.8.6 Key Developments
14.9 Coupa Software Inc
14.9.1 Key Facts
14.9.2 Business Description
14.9.3 Products and Services
14.9.4 Financial Overview
14.9.5 SWOT Analysis
14.9.6 Key Developments
14.10 Docaposte Group
14.10.1 Key Facts
14.10.2 Business Description
14.10.3 Products and Services
14.10.4 Financial Overview
14.10.5 SWOT Analysis
14.10.6 Key Developments
14.11 Ivalua Inc
14.11.1 Key Facts
14.11.2 Business Description
14.11.3 Products and Services
14.11.4 Financial Overview
14.11.5 SWOT Analysis
14.11.6 Key Developments
14.12 B2BE Pty Ltd
14.12.1 Key Facts
14.12.2 Business Description
14.12.3 Products and Services
14.12.4 Financial Overview
14.12.5 SWOT Analysis
14.12.6 Key Developments
14.13 JAGGAER, LLC
14.13.1 Key Facts
14.13.2 Business Description
14.13.3 Products and Services
14.13.4 Financial Overview
14.13.5 SWOT Analysis
14.13.6 Key Developments
14.14 Zycus Inc
14.14.1 Key Facts
14.14.2 Business Description
14.14.3 Products and Services
14.14.4 Financial Overview
14.14.5 SWOT Analysis
14.14.6 Key Developments
14.15 Tradeshift Inc.
14.15.1 Key Facts
14.15.2 Business Description
14.15.3 Products and Services
14.15.4 Financial Overview
14.15.5 SWOT Analysis
14.15.6 Key Developments
15. Appendix
15.1 Glossary
15.2 About The Insight Partners
List of Tables
Table 1. Europe Procure-to-Pay (P2P) Solutions Market Segmentation
Table 2. List of Vendors
Table 3. Europe Procure-to-Pay (P2P) Solutions Market – Revenue and Forecast to 2031 (US$ Million)
Table 4. Europe Procure-to-Pay (P2P) Solutions Market – Revenue and Forecast to 2031 (US$ Million) – by Component
Table 5. Europe Procure-to-Pay (P2P) Solutions Market – Revenue and Forecast to 2031 (US$ Million) – by Industry
Table 6. Europe Procure-to-Pay (P2P) Solutions Market – Revenue and Forecast to 2031 (US$ Million) – by Organization Size
Table 7. Europe Procure-to-Pay (P2P) Solutions Market – Revenue and Forecast to 2031 (US$ Million) – by Deployment
Table 8. Europe Procure-to-Pay (P2P) Solutions Market – Revenue and Forecast to 2031 (US$ Million) – by Country
Table 9. France: Europe Procure-to-Pay (P2P) Solutions Market – Revenue and Forecast to 2031 (US$ Million) – by Component
Table 10. France: Europe Procure-to-Pay (P2P) Solutions Market – Revenue and Forecast to 2031 (US$ Million) – by Industry
Table 11. France: Europe Procure-to-Pay (P2P) Solutions Market – Revenue and Forecast to 2031 (US$ Million) – by Organization Size
Table 12. France: Europe Procure-to-Pay (P2P) Solutions Market – Revenue and Forecast to 2031 (US$ Million) – by Deployment
Table 13. Italy: Europe Procure-to-Pay (P2P) Solutions Market – Revenue and Forecast to 2031 (US$ Million) – by Component
Table 14. Italy: Europe Procure-to-Pay (P2P) Solutions Market – Revenue and Forecast to 2031 (US$ Million) – by Industry
Table 15. Italy: Europe Procure-to-Pay (P2P) Solutions Market – Revenue and Forecast to 2031 (US$ Million) – by Organization Size
Table 16. Italy: Europe Procure-to-Pay (P2P) Solutions Market – Revenue and Forecast to 2031 (US$ Million) – by Deployment
Table 17. Spain: Europe Procure-to-Pay (P2P) Solutions Market – Revenue and Forecast to 2031 (US$ Million) – by Component
Table 18. Spain: Europe Procure-to-Pay (P2P) Solutions Market – Revenue and Forecast to 2031 (US$ Million) – by Industry
Table 19. Spain: Europe Procure-to-Pay (P2P) Solutions Market – Revenue and Forecast to 2031 (US$ Million) – by Organization Size
Table 20. Spain: Europe Procure-to-Pay (P2P) Solutions Market – Revenue and Forecast to 2031 (US$ Million) – by Deployment
Table 21. Portugal: Europe Procure-to-Pay (P2P) Solutions Market – Revenue and Forecast to 2031 (US$ Million) – by Component
Table 22. Portugal: Europe Procure-to-Pay (P2P) Solutions Market – Revenue and Forecast to 2031 (US$ Million) – by Industry
Table 23. Portugal: Europe Procure-to-Pay (P2P) Solutions Market – Revenue and Forecast to 2031 (US$ Million) – by Organization Size
Table 24. Portugal: Europe Procure-to-Pay (P2P) Solutions Market – Revenue and Forecast to 2031 (US$ Million) – by Deployment
Table 25. Rest of Europe: Europe Procure-to-Pay (P2P) Solutions Market – Revenue and Forecast to 2031 (US$ Million) – by Component
Table 26. Rest of Europe: Europe Procure-to-Pay (P2P) Solutions Market – Revenue and Forecast to 2031 (US$ Million) – by Industry
Table 27. Rest of Europe: Europe Procure-to-Pay (P2P) Solutions Market – Revenue and Forecast to 2031 (US$ Million) – by Organization Size
Table 28. Rest of Europe: Europe Procure-to-Pay (P2P) Solutions Market – Revenue and Forecast to 2031 (US$ Million) – by Deployment
Table 29. Heat Map Analysis By Key Players
List of Figures
Figure 1. Europe Procure-to-Pay (P2P) Solutions Market Segmentation, by Country
Figure 2. PEST Analysis
Figure 3. Ecosystem Analysis
Figure 4. Impact Analysis of Drivers and Restraints
Figure 5. Europe Procure-to-Pay (P2P) Solutions Market Revenue (US$ Million), 2023–2031
Figure 6. Europe Procure-to-Pay (P2P) Solutions Market Share (%) – by Component, 2023 and 2031
Figure 7. Solution: Europe Procure-to-Pay (P2P) Solutions Market– Revenue and Forecast to 2031 (US$ Million)
Figure 8. Services: Europe Procure-to-Pay (P2P) Solutions Market– Revenue and Forecast to 2031 (US$ Million)
Figure 9. Europe Procure-to-Pay (P2P) Solutions Market Share (%) – by Industry, 2023 and 2031
Figure 10. Manufacturing: Europe Procure-to-Pay (P2P) Solutions Market– Revenue and Forecast to 2031 (US$ Million)
Figure 11. Retail: Europe Procure-to-Pay (P2P) Solutions Market– Revenue and Forecast to 2031 (US$ Million)
Figure 12. Healthcare: Europe Procure-to-Pay (P2P) Solutions Market– Revenue and Forecast to 2031 (US$ Million)
Figure 13. IT and Telecom: Europe Procure-to-Pay (P2P) Solutions Market– Revenue and Forecast to 2031 (US$ Million)
Figure 14. Others: Europe Procure-to-Pay (P2P) Solutions Market– Revenue and Forecast to 2031 (US$ Million)
Figure 15. Europe Procure-to-Pay (P2P) Solutions Market Share (%) – by Organization Size, 2023 and 2031
Figure 16. Large Enterprises: Europe Procure-to-Pay (P2P) Solutions Market– Revenue and Forecast to 2031 (US$ Million)
Figure 17. Small and Medium Enterprises (SMEs): Europe Procure-to-Pay (P2P) Solutions Market– Revenue and Forecast to 2031 (US$ Million)
Figure 18. Europe Procure-to-Pay (P2P) Solutions Market Share (%) – by Deployment, 2023 and 2031
Figure 19. On-Premise: Europe Procure-to-Pay (P2P) Solutions Market– Revenue and Forecast to 2031 (US$ Million)
Figure 20. Cloud-Based: Europe Procure-to-Pay (P2P) Solutions Market– Revenue and Forecast to 2031 (US$ Million)
Figure 21. Europe Procure-to-Pay (P2P) Solutions Market Breakdown by Key Countries, 2023 and 2031 (%)
Figure 22. France: Europe Procure-to-Pay (P2P) Solutions Market – Revenue and Forecast to 2031 (US$ Million)
Figure 23. Italy: Europe Procure-to-Pay (P2P) Solutions Market – Revenue and Forecast to 2031 (US$ Million)
Figure 24. Spain: Europe Procure-to-Pay (P2P) Solutions Market – Revenue and Forecast to 2031 (US$ Million)
Figure 25. Portugal: Europe Procure-to-Pay (P2P) Solutions Market – Revenue and Forecast to 2031 (US$ Million)
Figure 26. Rest of Europe: Europe Procure-to-Pay (P2P) Solutions Market – Revenue and Forecast to 2031 (US$ Million)
Figure 27. Company Positioning & Concentration
The List of Companies - Europe Procure To Pay (P2P) Solutions Market
- Oracle
- SAP SE
- GEP
- Coupa Software Inc.
- Docaposte Group
- Invalua Inc
- B2BE
- Jaggaer
- Zycus Inc
- Tradeshift Holdings, Inc.
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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