Top 10 Provider to Payment Solution Providers

Procure-to-Pay (P2P) solutions empower every step of the procurement process, from requests to paying invoices. Consolidating spend through digital P2P platforms can be transformative, not only achieving increased efficiency and value, but ensuring compliance, strengthening collaboration with vendors, and bringing out actionable data insights for decision making. more strategic decision. Here we take a look at some of the most innovative and commonly used P2P solution providers that drive spend for the world’s biggest brands and organizations.

ten. Xelix

Headquarters: London, United Kingdom

Positioned as an AI-driven companion for sourcing and finance professionals, Xelix aims to solve common blind spots in modern ERP systems. Its main platform is separated into two distinct modules: protect and insight. Protect minimizes risk, identifies hidden threats, and prevents incorrect payments that are often missed by ERP systems. Insight provides real-time visibility into ERP data, automates reporting, and provides predictive insights to help professionals better control their spending.

9. Middle finger

Headquarters: Stockholm, Sweden

Medius’ comprehensive suite of e-procurement solutions includes P2P, as well as strategic sourcing, data insights and more. Founded in 2001 in Sweden, it now has 400 employees in offices across Europe and the United States. The company says nearly 4,000 customers and more than 500,000 unique users use Medius spend management solutions around the world, handling transactions worth more than $ 160 billion annually. Wax Digital, the cloud-based e-procurement company, was acquired by Medius in 2019, strengthening its end-to-end expense management solutions.

8. Basware

Headquarters: Espoo, Finland

Basware’s slogan is “Simplify Operations. Spend Smarter ‘- a mantra that underpins its Source-to-Pay (S2P) ecosystem. The ecopsystem includes a full suite of P2P solutions, from electronic procurement to automation and accounts payable analysis. Its platform aggregates financial data from all units of an organization, centralizing it in a single system for better end-to-end visibility and to enable professionals to make more informed strategic decisions. The company is regularly listed in the Gartner Magic Quadrant Leader for Procure to Pay suites.

7. PRM360

Headquarters: Hyderabad, India

One of Acads360 India’s solutions, PRM360 Simplified Procure-to-Pay Suite is a cloud-based platform to streamline and automate the P2P process. Nitesh Reddy, founder and CEO of PRM360 Simplified Procure-to-Pay Suite, says the platform is not designed to make purchases differently, but to “make it more convenient.” As such, the system’s open platform architecture means that it integrates seamlessly with ERP and other third-party applications.

6. Ivalua

HQ: California, United States

Ivalua’s Procure-to-Pay solution bridges the gap between purchasing and AP teams. Its front-end provides an “intuitive e-commerce experience” for users, but its real value lies behind the scenes, reducing maverick spend, improving visibility of tail spending, and reducing [email protected] cycle time by improving accuracy and automating billing. In a recent case study, Ivalua’s solution enabled a leading glass packaging company to achieve average savings of 19% over four years.

5. Oracle

Headquarters: Texas, United States

Procure-to-Pay is just one module of Oracle’s complete Oracle Fusion Cloud ERP, which also includes strategic sourcing, supplier management, sales network and more. The module streamlines purchasing by automating purchase orders from approved requests and improves revision management with a complete history of changes. Other features include automating invoice reconciliation to free professionals from unnecessary administrative tasks and speed up payment processing.

4. GEP

Headquarters: New Jersey, United States

GEP SMART provides a “step change” in P2P, providing users with a seamless procurement experience and improving contract usage. To get to the heart of the needs of procurement professionals, GEP SMART is a central platform to unify the process from order to invoice with the process from source to contract. Focused on UX and intuitive deployment, GEP SMART gives all stakeholders access to crucial visibility and a shared vision to achieve their goals.

3. Jaggaer

North Carolina, United States

Jaggaer’s “Procurement Simplified” slogan is evident across its platform. Described by the company as a “powerful and modern shopping experience,” its one-stop P2P solution gives professionals full control over their procurement process, reducing administrative burden through automation and aligning business lines. procurement and PA teams with their suppliers. Jaggaer’s platform evolves over time, using AI to help users every step of the way in the P2P process and deliver valuable and actionable information to professionals.

2. Coupa

HQ: California, United States

Coupa’s robust P2P solution connects the entire transactional journey of an organization, from strategic sourcing and requisitioning to invoicing and payments. But this is only a small part of the overall enterprise expense management platform, which also enables organizations to automate contract lifecycle management, manage design, and supply chain planning, managing supplier risks, revealing actionable insights, etc. A new feature launched this year enables organizations to source more sustainably, with a suite of new ESG features to track supplier compliance and meet carbon emissions targets. Ultimately, the platform allows procurement teams to evolve beyond the bureaucratic back office function, instead of providing a data-driven strategy to advance a company’s goals.

1. SAP Ariba

HQ: California, United States

SAP Ariba Buying and Invoicing is in many ways the gold standard for P2P solutions, connecting procurement professionals to the world’s largest B2B network. The platform centralizes procurement for indirect goods and services, automating the entire lifecycle from purchasing, requisitions and purchase orders to receipt of goods and payment. Its functionality is wrapped in an intuitive user experience that is “as comfortable as personal online shopping”, with customizable language, currency and dashboard settings to meet any need.

Expo 2020 Dubai, the global trade fair that runs from October 2021 to March 2022, has selected SAP Ariba to digitize the procurement process for its more than 25,000 suppliers. Expo 2020 Dubai has already processed over AED 1 billion on the platform.

SAP has been recognized for the fifth consecutive year in the Gartner 2020 Magic Quadrant for Procure-to-Pay Suites.

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