Today, economy and business landscape has evolved manifolds on the back of advancing technology trends and digital transformation wave. Well, Procurement having a lot to do with business operations, significantly impacts businesses across diverse industries acting under three heads practically internal procurement, external procurement, and supply chain management.

Technology is playing an effective role here in helping firms carry out their sourcing and procurement tasks while keeping track of their payments and purchases, and thus procurement as a service market is traction globally. According to Grand View Research market, the global Procurement As a Service (PaaS) market size was valued at $6.15 billion in 2022 and is projected to grow expansively, exhibiting over 11.1 percent CAGR during 2023 to 2030. With increasing digitization of business operations as many enterprises and organizations have been undertaking extensive initiatives to digitalize their workflow turning to advanced technologies such as big data analytics, artificial intelligence (AI), and machine learning, PaaS market also burgeoning.

Arguing their efficiency, there are many PaaS players exercising in the market now. The infrastructure and software tools they leverage to develop and deploy applications, and enhance the procurement process is the game-changer. It may not be easy to go after a single Procurement Solutions Provider, choosing from a gamut of Procurement Solutions Provider companies who could proficiently help with end-to-end procurement stages right from sourcing, negotiation, to purchasing of goods. Our current edition, ‘10 Most Promising Procurement Solution Providers – 2023’ may resolve that for you. The list features some of the leaders in the market who have displayed their expertise offering extensive PaaS solutions to clients country wide. Read to know more about them. Do let us know what you think!