Why Read This
The market for ePurchasing software, also called spend management or supplier relationship management solutions, will grow at a compound annual growth rate (
CAGR) of 10% from 2003 to 2008, with more mature segments of the market like eProcurement and eSourcing growing much more slowly, at 3% and 6%, respectively. Newer segments like contract life-cycle management (CLM), electronic invoice presentment and payment (EIPP), automated spend analysis, and services procurement will grow more rapidly, at CAGRs of 21% or more as newcomers enter the market and consolidation begins. Some categories like EIPP, eSourcing, and spend analysis use software-as-a-service (SaaS) a lot, while others like CLM or eProcurement use it just a little. Larger enterprises are still much more likely to have acquired ePurchasing solutions, but adoption is starting to occur among small and medium-size businesses (SMBs) and is not complete even among the largest firms, with more than 25% of the Global 2000 not using eProcurement or eSourcing.