10 Most Promising Procurement Technology Solution Providers - 2022

In this incessantly speeding business world where challenges are lurking the industries manifolds, every industry technology induction to improve its efficiency and that goes about for the supply chain processes as well. As technology helps increase the productivity of an organization, applying technology to the critical area of Sourcing & Procurement has exponentially proved to increase the benefits. Essentially implemented to simplify complex procurement processes and reduce costs, procurement technology has become a must-have tool for businesses today. Dignified procurement technology provides a unified procurement platform that allows all stakeholders to gain real-time visibility and identify savings opportunities.

Dignified procurement technology provides a unified procurement platform to all stakeholders, with capabilities for collaborating more effectively and evaluating supplier performance, thereby gaining real-time visibility and identifying savings opportunities. The increasing use of technology has helped procurement evolve from a tactical function to a larger strategic function, centralizing the tracking of spend, increasing accuracy of data, improving operational efficiency, with increased collaboration, handling critical exceptions, and standardized workflows, connecting the world digitally. Respectively, keeping up with the evolutions in industries, Procurement Technology is found to be generating more value for the businesses. As per Mordor Intelligence report, the procurement software market is expected to register a CAGR of 10.2 percent during the forecast period 2021-26. With the increasing need to automate the procurement processes, the materialization of the e-procurement technology is anticipated to draw in new opportunities for market growth along time, while the requirement to prevent the duplication of records is also an add to the procurement software market's development. Even, the deployment of governmental policies is motivating development in the procurement technology market. The synergies being created among supply and demand forces in the market are expected to further growth of the market.

CIOTechOutlook in this issue presents a list of '10 Most Promising Procurement Technology Solution Providers - 2022' who have leveraged their extensive industry interest and experience in bringing innovative solutions to the market. The following list has been prepared after being closely scrutinized by a distinguished panel of judges including CXOs, analysts and our editorial board. We recognize their valuable contribution to the ever expanding & competitive market and their ability to sustain themselves and emerge as top contestants through their reliable services.

We present to you CIOTechOutlook 10 Most Promising Procurement Technology Solution Providers - 2022.