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This IDC study provides an assessment of the prominent SaaS and cloud-enabled procurement software solutions and discusses what criteria are most important for companies to consider when selecting a system. Procurement applications support sourcing the right products and services from the right suppliers as well as the supplier contracts, managing the transactions, understanding the supplier and its performance, and knowing your company spend with the supply base.

"Technologies such as advanced analytics, intelligence, increasingly large data sets, collaborative work streams, and blockchain are all having a profound impact on SaaS and cloud-enabled procurement applications. The procurement market continues to grow and so does the amount of innovation embedded in procurement applications, enabling procurement organizations to be more nimble, innovative, and focused on valued outcomes with their supply base," said Mickey North Rizza, program vice president of IDC's Enterprise Applications and Digital Commerce programs.



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