Gartner recently released the findings of their 2021 Gartner® Magic Quadrant™ for Procure-to-Pay Suites
For this report, Gartner evaluated 12 different procure-to-pay (P2P) software vendors based on their Completeness of Vision and Ability to Execute.
Gartner defines the procure-to-pay (P2P) suite market as “integrated solutions with automated workflows to request, procure, receive, and pay for goods and services across an enterprise.” At a minimum, P2P suites support e-Purchasing and Accounts Payable Invoice Automation (APIA).
The Magic Quadrant is divided into Leaders, Challenges, Visionaries and Niche players.
The full report is accessible here https://www.coupa.com/resources/analyst-reports/GartnerMQ/2021/P2P
Some highlights from the companies included in the report include:
Coupa was named a Leader in the 2021 Gartner Magic Quadrant for Procure-to-Pay Suites for the sixth consecutive time. Gartner cite their user experience and prescriptive analytics as strengths
SAP was named a leader with specific mentions of their integration With SAP S/4HANA and global coverage as strengths
JAGGAER was named a leader citing their innovation through procurement analytics and AI, as well as their customer experience and good support for industry-specific requirements. It provides specific configurations and add-ons for industries such as higher education, healthcare and manufacturing.
Ivalua was named a leader and the report mentions their strengths as their vertical industry strategy for the automotive, manufacturing, public sector, healthcare, financial services and construction/engineering sectors. They also cite their direct spend product capabilities and customer experience.
GEP was named a leader, Gartner cites their direct spend product capabilities and market responsiveness as strengths.
Medius was named a Visionary in the report, citing its strong background in AP automation and provides solid global support for invoice processing as well as their innovation in machine learning and fast implementation
Zycus was named a Visionary in the report citing their product strategy, innovation, partner ecosystem and market understanding.
Basware was named a visionary and the report says that Basware has a more flexible pricing model compared with competitors in this Magic Quadrant, allowing customers to build and pay for a solution that fits their needs within their budget.
Oracle was named in the Challengers category. Gartner cites their strengths as having a global presence, support for direct spend and industry-specific extensions/add-ons.
Proactis was named a niche player. Gartner cite their Quick Time to Value as a strength. The report says Proactis has shorter sales cycles and a solid track record for delivering shorter implementations.
Esker was named a niche player. Gartner cite their geographic presence and support, Gartner says Esker was particularly good for SAP Customers because it offers many APIs for different versions of SAP and is certified for integration with S/4HANA cloud.
Mercado Eletrônico was named as a niche player. Its operations are primarily based in Latin America, giving them an advantage in understanding the needs of customers and pricing models in this market, which has a high potential for growth.
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