QKS Group Insights: Understanding the Evolving Procure-to-Pay Market Landscape in the USA

 


QKS Group Reveals that the Procure-to-Pay (P2P) Market in the USA is Projected to Register a Below-Average CAGR by 2028

The Procure-to-Pay (P2P) market in the United States, while currently growing at a below-average rate, presents significant potential for transformation in the coming years. As organizations continue to prioritize operational efficiency, cost reduction, and process automation, the focus on streamlining procurement and payment workflows is intensifying.

The integration of emerging technologies such as Artificial Intelligence (AI), Machine Learning (ML), and Blockchain is expected to play a pivotal role in driving market evolution. These technologies enhance transparency, reduce fraud, and enable data-driven decision-making, which collectively contribute to stronger supplier relationships and improved financial control.

As digital transformation continues to accelerate across industries, enterprises are expected to gradually adopt advanced P2P solutions to maintain competitiveness. This shift will likely rejuvenate the P2P market in the United States, fostering a more dynamic, data-driven, and innovative landscape by 2028.

What is Procure-to-Pay (P2P)?

Procure-to-Pay (P2P) refers to an integrated business process that connects procurement and financial functions to manage the entire lifecycle of purchasing goods and services—from requisitioning and purchasing to invoicing and payment processing.

A P2P platform streamlines these processes by integrating with cross-functional departments such as procurement, inventory, accounts payable, and finance, creating a single source of truth for all purchasing activities. This holistic approach allows organizations to:

Improve operational efficiency through automation.

Enhance supplier communication and relationship management.

Gain real-time visibility into spend patterns, pricing, and supplier performance.

Reduce procurement costs and mitigate financial or supplier risks.

Ensure regulatory compliance and achieve key performance indicators (KPIs).

By leveraging P2P solutions, organizations can optimize every step of the purchasing cycle, ensuring accuracy, accountability, and transparency in business transactions.

Key Questions This Study Addresses

What is the current and future state of competition in the U.S. Procure-to-Pay market?

What will be the key competitive dynamics in the U.S. P2P landscape by 2028?

How will different vendors position themselves across customer segments, from SMBs to large enterprises?

How will cloud-based and on-premises P2P solutions evolve in the U.S. market by 2028?

What are the relative strengths and challenges faced by vendors operating in this space?

Which industries are expected to hold the largest market share within the U.S. P2P market?

What competitive factors will shape vendor positioning and differentiation?

Key Vendors Covered in This Study

Coupa, SAP (Ariba), GEP, Ivalua, Zycus, Jaggaer, Basware, Synertrade, Elcom, Oracle, OpusCapita, Corcentric, Medius, Proactis, Esker, BirchStreet Systems, and Varis.

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