PROCUREMENT OUTSOURCING MARKET ANALYSIS

Procurement Outsourcing Market, By Service Type (Business Process Outsourcing Services, Consulting Services), By End User (Manufacturing, Retail and Consumer Goods, Healthcare, IT and Telecom, BFSI (Banking, Financial Services, and Insurance), Energy and Utilities, Transportation and Logistics, and Others), By Organization Size (Small and Medium-sized Enterprises (SMEs) and Large Enterprises), By Geography (North America, Latin America, Europe, Middle East & Africa, and Asia Pacific)

Global Procurement Outsourcing Market- Recent Developments

Key Development

Q1 2023 by SAP Ariba: On 17 March 2023 SAP Ariba release the product Q1 2023 (2302) for both SAP Procurement and SAP Business Network product areas. SAP Ariba is an American software and information technology services company.
Business Spend Management (BSM) by Coupa: On June 15, 2021, Coupa launched its Sustainable Business Spend Management (BSM) platform, to help business owners with their sustainability initiatives. Coupa is a cloud based Business Spend Management platform that allows organizations to manage business spend across Procurement, Supply Chain & Finance.

Key strategic Initiatives

In 2022, Coupa the cloud based Business Spend Management platform that allows organizations to manage business spend across Procurement, Supply Chain & Finance, entered into definitive agreement to be acquired by Thoma Bravo. Thoma Bravo is a leading software investment firm.
In 2022, Ivalua is a leading provider of cloud-based procurement software to manage all spend & suppliers on a modular & unified source-to-pay platform acquired Spend Matters, a leading provider of procurement research and advisory services. This provided Ivalua a stronger understanding of the procurement market and its customers.