What are our data sources?
We use the data sources on the side for ranking solutions and awarding badges in procurement software category. Our data sources in procurement software category include;
Procurement software enables businesses to manage and automate the purchasing processes within a business. Businesses can use procurement software to manage all source-to-pay or procure-to-pay processes such as approving purchase orders, product selection, and ordering, matching orders and invoices, and making transactions.
If you’d like to learn about the ecosystem consisting of Procurement Software and others, feel free to check AIMultiple Finance.
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KiSSFLOW is a workflow tool & business process workflow management software to automate your workflow process.
RFP360 develops software that transforms how organizations worldwide request information, respond to requests and connect making RFP and similar processes far more efficient, effective, collaborative ... Show More
We use the data sources on the side for ranking solutions and awarding badges in procurement software category. Our data sources in procurement software category include;
review websites
social media websites
search engine data for branded queries
According to the weighted combination of 7 data sources
ProcurementExpress.com
Kissflow
Ariba
Precoro
Procurify
Taking into account the latest metrics outlined below, these are the current procurement software market leaders. Market leaders are not the overall leaders since market leadership doesn’t take into account growth rate.
Kissflow
ProcurementExpress.com
Ariba
Precoro
Procurify
These are the number of queries on search engines which include the brand name of the solution. Compared to other Finance categories, Procurement Software is more concentrated in terms of top 3 companies’ share of search queries. Top 3 companies receive 91%, 17% more than the average of search queries in this area.
44 employees work for a typical company in this solution category which is 23 more than the number of employees for a typical company in the average solution category.
In most cases, companies need at least 10 employees to serve other businesses with a proven tech product or service. 15 companies with >10 employees are offering procurement software. Top 3 products are developed by companies with a total of 4k employees. The largest company building procurement software is GEP Worldwide with more than 2,000 employees.
Taking into account the latest metrics outlined below, these are the fastest growing solutions:
ProcurementExpress.com
Ariba
Precoro
Procurify
Kissflow
We have analyzed reviews published in the last months. These were published in 4 review platforms as well as vendor websites where the vendor had provided a testimonial from a client whom we could connect to a real person.
These solutions have the best combination of high ratings from reviews and number of reviews when we take into account all their recent reviews.
This data is collected from customer reviews for all Procurement Software companies. The most positive word describing Procurement Software is “Easy to use” that is used in 16% of the reviews. The most negative one is “Difficult” with which is used in 3.00% of all the Procurement Software reviews.
According to customer reviews, most common company size for procurement software customers is 51-1,000 employees. Customers with 51-1,000 employees make up 42% of procurement software customers. For an average Finance solution, customers with 51-1,000 employees make up 17% of total customers.
These scores are the average scores collected from customer reviews for all Procurement Software. Procurement Software is most positively evaluated in terms of "Customer Service" but falls behind in "Likelihood to Recommend".
This category was searched on average for 3.8k times per month on search engines in 2022. This number has decreased to 3.4k in 2023. If we compare with other finance solutions, a typical solution was searched 853 times in 2022 and this decreased to 808 in 2023.