Top 10 Cloud Procurement Software Vendors, Market Size and Market Forecast 2019-2024

Worldwide Cloud Procurement Applications Market reach $4.3 billion by 2024, compared with $3.2 billion in 2019 at a compound annual growth rate of 6.5%.

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In 2019, the top 10 Cloud Procurement software vendors accounted for nearly 59.7% of the global Cloud Procurement applications market which grew 11.2% to approach nearly $3.2 billion in subscription revenues.

In 2019, SAP led the pack with a 31.6% market share while Coupa Software was #2 followed by, Mercateo, OpenText Corporation and GEP Procurement.

We ask the simple question: Who’s buying Cloud Procurement applications from whom and why? And we provide the answers – supported by decades of research – to our clients around the world. (Sample from our Apps Database)

2019 Cloud Procurement Applications Market Shares Split By Top 10 Cloud Procurement Vendors and Others
2019 Cloud Procurement Applications Market Shares Split By Top 10 Cloud Procurement Vendors and Others

Through our forecast period, the Cloud Procurement applications market size is expected to reach $4.3 billion by 2024, compared with $3.2 billion in 2019 at a compound annual growth rate of 6.5%.

Exhibit 2: Worldwide Cloud Procurement Software Market 2019-2024 Forecast, $M
Year201920242019-2024 CAGR, %
Total316543336.5%

Source: Apps Run The World, February 2020

Top 10 Cloud Procurement Software Vendors

Cloud Procurement covers applications designed for purchasing material (whether direct or indirect; raw, in process, or finished; as a result of or flowing into a product supply chain-specific business process; or in support of performing a service) and services (business or professional).

Other functions include contract management, electronic network, punch-out, sourcing, and supplier rating to optimize the overall supplier relationship management business processes. Cloud Procurement applications revenues represent a major contributor to the Enterprise Resource Planning market as part of our market sizing exercise.

Additionally, supplier discovery and relationship management, coupled with networked marketplace, boost overall procurement activities.

Here are the rankings of the top 10 Cloud Procurement software vendors in 2019 and their market shares.

RankVendor2017 Cloud Procurement Apps Revenues, $M2018 Cloud Procurement Apps Revenues, $M2019 Cloud Procurement Apps Revenues, $MYoY Growth, %2019 Cloud Procurement Apps Market Share, %Recent Developments
1SAP Subscribe Subscribe Subscribe11% SubscribeSAP Ariba ramps up procurement apps sales into SMBs and midmarket by creating Premikati Marketplace for small companies to automate procurement for as little as $30 per user per month. Ariba also introduced new packaged offering for midmarket companies.
2Coupa Subscribe Subscribe Subscribe37% SubscribeIn January 2020, Coupa acquired Yapta, a travel technology company that will boost Coupa’s existing travel and expense offerings. Previously, Coupa acquired Exari for contract lifecycle management, Hiperos for risk management apps and DCR Workforce for contingent workforce management to complement its procurement solutions.
3Mercateo Subscribe Subscribe Subscribe16% SubscribeMercateo launched its B2B networking platform unite.eu, which directly connects suppliers with buyers and is run separately from the mercateo.com trading platform.
4Open Text Subscribe Subscribe Subscribe11% SubscribeOpenText Trading Grid is a flexible configurable digital backbone enabling organizations to optimize supply chain processes across the entire trading community. Together with OpenText B2B Managed Services, OpenText offers a complete people-process-technology supply chain integration solution based on decades of industry best practices and proven processes.
5GEP Subscribe Subscribe Subscribe18% SubscribeGEP offers a robust blend of strategic and advisory services, pace-setting technology and managed services. GEP’s cloud-based, unified source-to-pay procurement platform, SMART by GEP, saw 83% increase in revenues in 2019.
6Jaggaer Subscribe Subscribe Subscribe17% SubscribeJaggaer added 185 new customers in 2018, resulting in a total of over 2,000 for its Procure to Pay, Source to Contract and Supply Chain Management apps.
7Infor Subscribe Subscribe Subscribe18% SubscribeSince October 2019, Infor’s procurement technology integrates with Amazon Business. More recently, Koch Industries acquired Infor shares it did not own from Golden Gate Capital, resulting in full control of the ERP vendor.
8Workday Subscribe Subscribe Subscribe25% SubscribeIn November 2019, Workday acquired Scout RFP Inc., an e-sourcing solutions provider for $540 million. The acquisition will complement its existing Workday Procurement and Workday Inventory offerings.
9Zycus Subscribe Subscribe Subscribe20% SubscribeZycus introduced Zycus Merlin A.I., Studio to allow procurement teams to configure and launch intelligent bots to complete most run-of-the-mill procurement tasks with minimal human intervention.
10Visma Subscribe Subscribe Subscribe18% SubscribeVisma strengthened its position within pool procurement and employee benefit programs through the acquisition of Lessmore AB. The acquisition of WGR Data AB further expanded Visma’s e-commerce solution offering in the Nordics
Subtotal Subscribe Subscribe Subscribe17% Subscribe
Other Subscribe Subscribe Subscribe4% Subscribe
Total Subscribe Subscribe Subscribe11% Subscribe

Source: Apps Run The World, February 2020

Other cloud procurement software providers included in the report are: abas Business Software, Access Group, Achilles, American Software, Aptos, Arrowstream, Asseco Group, Beeline, BirchStreet Systems, Bravosolution, CDK Global, Cegid, Comarch SoftM, Constellation Software Inc., Dairy.com, Determine, Inc., Digital Dimension, a Econocom Group Company, Duzon Digitalware, E2open, Ellucian, Epicor, ESM Solutions Corporation, Exact Holding BV, Exela Technologies, Inc., Fourth Ltd, FuturMaster, GFI Informatique, GHX, IBS Software Services, IFS, Ignite Technologies, Ivalua, JDA Software, KDS, LLamasoft, MercuryGate International, OBIC Co. Ltd., Oildex, Open Text Corporation, Openbravo, S.L.U., Per Angusta, PRGX Global Inc., PRO Unlimited, PROACTIS Group, Procurify, Procuro, Pronto Software, QAD, Ramco Systems, River Logic, Inc., Roper Technologies, Inc., Sage, Scanmarket, Selenity, Sênior Sistemas, SmartERP, SupplyOn, Synertrade, Taulia, Tigernix Pte Ltd, TotalSoft, Tradeshift, UNIT4, Visma, Vormittag Associates Inc., VORTAL Connecting Business, Vroozi, WEX Health, Workday, Yonyou, Zycus, and others.

Custom data cuts related to the Cloud Procurement Applications market are available:

  • Top 60+ Cloud Procurement Applications Vendors and Market Forecast 2019-2024
  • 2019 Cloud Procurement Applications Market By Industry (21 Verticals)
  • 2019 Cloud Procurement Applications Market By Functional Market (16 Markets)
  • 2019 Cloud Procurement Applications Market By Country (USA + 45 countries)
  • 2019 Cloud Procurement Applications Market By Region (Americas, EMEA, APAC)
  • 2019 Cloud Procurement Applications Market By Revenue Type
  • 2019 Cloud Procurement Applications Market By Customer Size (revenue, employee count, asset)
  • 2019 Cloud Procurement Applications Market By Channel (Direct vs Direct)
  • 2019 Cloud Procurement Applications Market By Product

Exhibit 4 shows the enterprise applications market by functional area. The highest growth functional markets revolve around smaller segments like Analytics and BI, Collaboration, eCommerce, PPM and TRM, where first movers remain less established than those that for decades have been entrenched in functional areas like Content Management and CRM.

Exhibit 4 - Worldwide Cloud Based Enterprise Applications Market Forecast 2019-2024, By Functional Market, $M
Exhibit 4 – Worldwide Cloud Based Enterprise Applications Market Forecast 2019-2024, By Functional Market, $M

Cloud Procurement Win/Loss Analysis As Part Of Enterprise Applications Buyer Insight Customer Database

On the buyer side, customers are investing in Cloud Procurement systems based on new features and capabilities that are expected to replace their existing legacy systems. In many cases, competitive upgrades and replacements that could have a profound impact on future market-share changes will become more widespread.

Since 2010, our global team of researchers have been studying the patterns of the latest  cloud procurement software purchases by customers around the world, aggregating massive amounts of data points that form the basis of our forecast assumptions and perhaps the rise and fall of certain vendors and their products on a quarterly basis.

Updated continuously, our database features extensive win/loss analysis. Each year our research team identifies tens of thousands of these customer wins and losses from public and proprietary sources.

The research results are being incorporated into regular updates in our Enterprise Applications Buyer Insight Customer Database. You can access the Quarterly Win/Loss Analysis Scoreboard and our Enterprise Applications Buyer Insight Customer Database by becoming a subscriber.

List of Cloud Procurement Customers

CustomerIndustryEmpl.RevenueCountryVendorNew Product
AB SKF GroupManufacturing47000$8.80BSwedenSAPSAP Ariba
Commerce BankBanking and Financial Services4770$227.0MUnited StatesSAPSAP Ariba
Aetna Inc.Insurance50000$65.00BUnited StatesSAPSAP Ariba
AGCO CorporationManufacturing21200$9.35BUnited StatesSAPSAP Ariba
Aggregate IndustriesConstruction and Real Estate4100$400.0MUnited KingdomSAPSAP Ariba
AIA GroupInsurance22000$36.30BHong KongSAPSAP Ariba
Air LiquideOil, Gas and Chemicals66000$23.27BFranceSAPSAP Ariba
Al-Futtaim AutoAutomotive44000$81.68BUnited Arab EmiratesSAPSAP Ariba
Altria GroupConsumer Packaged Goods8300$25.36BUnited StatesSAPSAP Ariba
ComericaBanking and Financial Services8500$2.57BUnited StatesSAPSAP Ariba
American Cancer SocietyNon Profit8500$1.20BUnited StatesSAPSAP Ariba
American Express CompanyBanking and Financial Services59000$28.87BUnited StatesSAPSAP Ariba
Columbia SportswearRetail6188$2.47BUnited StatesSAPSAP Ariba
Coach, Inc.Retail13000$5.88BUnited StatesSAPSAP Ariba
CommerzbankBanking and Financial Services49410$9.46BGermanySAPSAP Ariba
ConocoPhillipsOil, Gas and Chemicals10900$36.42BUnited StatesSAPSAP Ariba
Arla Foods UKConsumer Packaged Goods19000$10.60BUnited KingdomSAPSAP Ariba
Arm LimitedProfessional Services6250$1.35BUnited KingdomSAPSAP Ariba
Crayola LLCConsumer Packaged Goods1300$200.0MUnited StatesSAPSAP Ariba
Babcock International GroupAerospace and Defense36000$5.43BUnited KingdomSAPSAP Ariba
BAE SystemsAerospace and Defence87300$21.54BUnited StatesSAPSAP Ariba
Bank of America Merrill LynchBanking and Financial Services213000$82.50BUnited StatesSAPSAP Ariba
CRHConstruction and Real Estate90000$29.61BIrelandSAPSAP Ariba
Barilla Harry’s FranceConsumer Packaged Goods8300$4.21BFranceSAPSAP Ariba
Crucell Holland B.V.Consumer Packaged Goods1250$3.60BNetherlandsSAPSAP Ariba
BB&T CorporationBanking and Financial Services34723$11.45BUnited StatesSAPSAP Ariba
Massachusetts Mutual Life Insurance CompanyInsurance11593$30.80BUnited StatesSAPSAP Ariba
BBVACompassBanking and Financial Services11647$3.40BUnited StatesSAPSAP Ariba
LundbeckLife Sciences5119$2.62BUnited StatesSAPSAP Ariba
Lincoln National CorporationBanking and Financial Services11034$16.42BUnited StatesSAPSAP Ariba
BioMarinLife Sciences2293$1.12BUnited StatesSAPSAP Ariba
Bouygues TelecomCommunications9500$5.70BFranceSAPSAP Ariba
BPOil, Gas and Chemicals69600$298.76BUnited KingdomSAPSAP Ariba
British American TobaccoConsumer Packaged Goods65593$31.58BUnited KingdomSAPSAP Ariba
CA TechnologiesProfessional Services11500$4.26BUnited StatesSAPSAP Ariba
Lafarge (Tarmac)Oil, Gas and Chemicals6600$25.60BUnited KingdomSAPSAP Ariba
Carlsberg BreweriesManufacturing41000$9.48BDenmarkSAPSAP Ariba
L’OréalConsumer Packaged Goods86030$29.87BFranceSAPSAP Ariba
CentricaUtilities60000$36.50BUnited KingdomSAPSAP Ariba
L Brands, Inc.Retail25500$13.24BUnited StatesSAPSAP Ariba
KENGEEConsumer Packaged Goods3000$500.0MChinaSAPSAP Ariba
Cirque du Soleil Inc.Media5022$850.0MCanadaSAPSAP Ariba
AppFolioProfessional Services626$105.0MUnited StatesCoupa SoftwareCoupa Procurement
ArmaninoBanking and Financial Services900$155.0MUnited StatesCoupa SoftwareCoupa Procurement
Australian UnityLeisure and Hospitality7500$2.05BAustraliaCoupa SoftwareCoupa Procurement
Caterpillar Inc.Manufacturing104000$54.72BUnited StatesCoupa SoftwareCoupa Procurement
CityFibreCommunications163$45.0MUnited KingdomCoupa SoftwareCoupa Procurement
FastwebMedia3417$1.69BItalyCoupa SoftwareCoupa Procurement
Forest CityConstruction and Real Estate2800$1.30BUnited StatesCoupa SoftwareCoupa Procurement
GlassdoorProfessional Services900$320.0MUnited StatesCoupa SoftwareCoupa Procurement
MarketoProfessional Services1177$210.0MUnited StatesCoupa SoftwareCoupa Procurement
NvidiaProfessional Services10299$6.91BUnited StatesCoupa SoftwareCoupa Procurement
AllerganManufacturing11400$6.20BUnited StatesJaggaerJaggaer One (ex SciQuest)
L.A. Care Health PlanHealthcare1500$350.0MUnited StatesJaggaerJaggaer One (ex SciQuest)
Loyola University MarylandEducation650$230.0MUnited StatesJaggaerJaggaer One (ex SciQuest)
Sunoco LPOil, Gas and Chemicals7000$11.72BUnited StatesJaggaerJaggaer One (ex SciQuest)
Tulane UniversityEducation4600$1.31BUnited StatesJaggaerJaggaer One (ex SciQuest)
Wor-Wic Community CollegeEducation300$75.0MUnited StatesJaggaerJaggaer One (ex SciQuest)
Bühler GroupConsumer Packaged Goods13000$3.36BSwitzerlandJaggaerJaggaer One (ex SciQuest)
Merck KGaALife Sciences52000$16.61BGermanyJaggaerJaggaer One (ex SciQuest)
Illinois Tool Works Inc.Manufacturing50000$15.00BUnited StatesJaggaerJaggaer One (ex SciQuest)
GROHE AGManufacturing6000$2.00BGermanyJaggaerJaggaer One (ex SciQuest)
Carl Zeiss AG (ZEISS Group Company)Manufacturing31260$7.19BGermanyJaggaerJaggaer One (ex SciQuest)
MTU FriedrichshafenManufacturing9500$4.41BGermanyJaggaerJaggaer One (ex SciQuest)
Körber AGProfessional Services10538$2.85BGermanyJaggaerJaggaer One (ex SciQuest)
Miba AGManufacturing7800$1.10BAustriaJaggaerJaggaer One (ex SciQuest)
Mann+Hummel GroupManufacturing21000$4.43BGermanyJaggaerJaggaer One (ex SciQuest)
Cost Plus World MarketRetail2927$800.0MUnited StatesInforInfor Nexus Procure-to-Pay Automation
Kirkland’s, IncRetail7300$647.0MUnited StatesInforInfor Nexus Procure-to-Pay Automation
Levi Strauss & Co.Retail15100$5.00BUnited StatesInforInfor Nexus Procure-to-Pay Automation
Shoe CarnivalRetail5200$1.03BUnited StatesInforInfor Nexus Procure-to-Pay Automation
The Children’s PlaceRetail18700$1.94BUnited StatesInforInfor Nexus Procure-to-Pay Automation
U.S. BancorpBanking and Financial Services73333$22.52BUnited StatesInforInfor Nexus Procure-to-Pay Automation
Groupe ClarinsConsumer Packaged Goods8500$1.79BFranceInforInfor Movex ERP – Procurement
TriganoAutomotive9000$2.59BFranceInforInfor Movex ERP – Procurement
Hermès International S.A.Consumer Packaged Goods14751$6.72BFranceInforInfor M3 Procurement
Nutreco N.VConsumer Packaged Goods12000$7.17BNetherlandsInforInfor M3 Procurement
Benchmark Electronics, Inc.Manufacturing10500$2.57BUnited StatesInforInfor LN Procurement (ex Baan Procurement)
CooperCompaniesManufacturing12000$2.60BUnited StatesInforInfor LN Procurement (ex Baan Procurement)
VDL GroepManufacturing16500$5.72BNetherlandsInforInfor LN Procurement (ex Baan Procurement)
Altria Group, IncConsumer Packaged Goods8300$25.36BUnited StatesGEPGEP Smart
AstraZenecaLife Sciences64400$22.09BUnited KingdomGEPGEP Smart
Boston ScientificManufacturing32000$9.82BUnited StatesGEPGEP Smart
Chevron CorporationOil, Gas and Chemicals48600$158.90BUnited StatesGEPGEP Smart
DentsplyManufacturing16000$3.99BUnited StatesGEPGEP Smart
Duke EnergyUtilities30083$24.52BUnited StatesGEPGEP Smart
DuPontOil, Gas and Chemicals98000$85.97BUnited StatesGEPGEP Smart
ExelonUtilities33400$35.90BUnited StatesGEPGEP Smart
Goodman FielderConsumer Packaged Goods6000$1.20BAustraliaGEPGEP Smart
Kellogg CompanyConsumer Packaged Goods34000$13.55BUnited StatesGEPGEP Smart
MaerskTransportation79900$39.02BDenmarkGEPGEP Smart
Mars, IncorporatedConsumer Packaged Goods115000$35.00BUnited StatesGEPGEP Smart
MylanLife Sciences35000$11.27BUnited KingdomGEPGEP Smart
Reckitt BenckiserConsumer Packaged Goods37345$16.51BUnited KingdomGEPGEP Smart
Rite AidRetail53100$21.64BUnited StatesGEPGEP Smart
Standard CharteredBanking and Financial Services82827$14.78BUnited KingdomGEPGEP Smart
Aberdeen Asset Management PLCBanking and Financial Services2050$1.29BUnited KingdomOpenTextOpenText Vendor
Entegris IncManufacturing3500$1.10BUnited StatesOpenTextOpenText Vendor
Hexion IncOil, Gas and Chemicals4300$3.80BUnited StatesOpenTextOpenText Vendor
Par Pacific HoldingsOil, Gas and Chemicals1285$3.41BUnited StatesOpenTextOpenText Vendor
RecticelOil, Gas and Chemicals8472$1.25BBelgiumOpenTextOpenText Vendor
Foodstuffs North Island LimitedRetail22000$4.50BNew ZealandOpenTextOpenText Vendor
AAA Northern California, Nevada & UtahInsurance3103$206.0MUnited StatesWorkdayWorkday Procurement
Arbella InsuranceInsurance1000$800.0MUnited StatesWorkdayWorkday Procurement
AureconProfessional Services7500$806.0MUnited StatesWorkdayWorkday Procurement
Bill Gosling OutsourcingProfessional Services2000$250.0MCanadaWorkdayWorkday Procurement
BlaBlaCarProfessional Services600$100.0MFranceWorkdayWorkday Procurement
City and County of DenverGovernment11000$1.50BUnited StatesWorkdayWorkday Procurement
Encore Capital GroupBanking and Financial Services7361$1.36BUnited StatesWorkdayWorkday Procurement
Nationstar Mortgage LLCBanking and Financial Services7600$2.25BUnited StatesWorkdayWorkday Procurement
Quicken LoansBanking and Financial Services15307$6.00BUnited StatesWorkdayWorkday Procurement
SalmatProfessional Services4000$125.0MAustraliaWorkdayWorkday Procurement
University of Rochester Medical CenterNon Profit26000$4.68BUnited StatesWorkdayWorkday Procurement
AmeriGasOil, Gas and Chemicals7550$2.68BUnited StatesZycusZycus Procurement
Ammeraal BeltechManufacturing2750$447.0MNetherlandsZycusZycus Procurement
Armstrong World Industries, IncManufacturing2400$975.0MUnited StatesZycusZycus Procurement
BelkRetail26000$4.00BUnited StatesZycusZycus Procurement
CelgeneLife Sciences8852$15.28BUnited StatesZycusZycus Procurement
Curtiss-WrightAerospace and Defense9000$2.41BUnited StatesZycusZycus Procurement
EnergizerManufacturing7500$2.50BUnited StatesZycusZycus Procurement
KCA DeutagOil, Gas and Chemicals9000$1.26BUnited KingdomZycusZycus Procurement
PetrofacOil, Gas and Chemicals11250$4.00BUnited KingdomZycusZycus Procurement
Rockwell AutomationManufacturing23000$6.70BUnited StatesZycusZycus Procurement
Royal AvebeConsumer Packaged Goods1313$642.0MNetherlandsZycusZycus Procurement
St Barbara LimitedManufacturing1012$455.0MAustraliaZycusZycus Procurement
The Vanguard Group, Inc.Banking and Financial Services17600$8.34BUnited StatesZycusZycus Procurement
WeatherfordProfessional Services26500$5.74BUnited StatesZycusZycus Procurement
AdidasConsumer Packaged Goods49563$24.52BGermanyMercateoMercateo Procurement Platform
Danfoss Power SolutionsManufacturing3000$600.0MDenmarkMercateoMercateo Procurement Platform
Essent N.VUtilities4300$4.19BNetherlandsMercateoMercateo Procurement Platform
Hagemeyer ModehausRetail1000$100.0MGermanyMercateoMercateo Procurement Platform
IDT Biologika GmbHLife Sciences1600$300.0MGermanyMercateoMercateo Procurement Platform
UNILINManufacturing5000$1.73BBelgiumMercateoMercateo Procurement Platform

Source: Apps Run The World, December 2019

Further Readings

An expanded version of this report covers the top 60+ Cloud Procurement Software Vendors, offering in-depth analysis of the market dynamics, vendors’ Strengths, Customers, Opportunities, Risks and Ecosystems as well as their ability to gain Shares (SCORES) within their respective space.

We also offer win-loss analysis of the quarterly wins of these top vendors and whether incumbents and upstarts pose any real threat to their standing amid shifting market requirements and user preferences.

More Enterprise Applications Research Findings

Based on the latest annual survey of 3,000+ enterprise software vendors, Apps Run The World is releasing a number of dedicated reports, which profile the world’s 500 largest Enterprise Applications Vendors (Apps Top 500) and the world’s 500 largest Cloud Applications Vendors (Cloud Top 500) ranked by their 2015-2018 product revenues.

Their 2018 results are being broken down, sorted and ranked across 16 functional areas (from Analytics to Treasury and Risk Management) and by 21 vertical industries (from Aerospace to Utility), as shown in our Taxonomy. Further breakdowns by subvertical, country, company size, etc. are available as custom data cuts per special request.

Research Methodology

Each year our global team of researchers conduct an annual survey of thousands of enterprise software vendors by contacting them directly on their latest quarterly and annual revenues by country, functional area, and vertical market.

We supplement their written responses with our own primary research to determine quarterly and yearly growth rates, In addition to customer wins to ascertain whether these are net new purchases or expansions of existing implementations.

Another dimension of our proactive research process is through continuous improvement of our customer database, which stores more than one million records on the enterprise software landscape of over 100,000 organizations around the world.

The database provides customer insight and contextual information on what types of enterprise software systems and other relevant technologies are they running and their propensity to invest further with their current or new suppliers as part of their overall IT transformation projects to stay competitive, fend off threats from disruptive forces, or comply with internal mandates to improve overall enterprise efficiency.

The result is a combination of supply-side data and demand-generation customer insight that allows our clients to better position themselves in anticipation of the next wave that will reshape the enterprise software marketplace for years to come.

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