The COVID-19 pandemic brought supply chain and procurement into the spotlight as organizations across the globe navigated supply shortages, asset maintenance disruptions, and changes to product mix, in response to supply and demand shifts. As the pandemic continues, businesses are looking to procurement and supply chain solutions to assist in risk mitigation and business resiliency. This has resulted in strong growth in the procurement software market, across the vendor spectrum.
In their most recent report, Worldwide Procurement Applications Software Market Shares, 2020, IDC estimates that the procurement software market grew 5.4% to $6.2 billion in 2020.
Download this report excerpt to learn about SAP’s leadership in this space, as well as significant developments that are affecting this market.