Here, we take a look at 10 of the most innovative and widely used P2P platforms that, taken together, account for the majority of spending by the world’s biggest brands and organizations.
Main P2P platforms: 10. Xelix
Positioned as an AI-powered companion for sourcing and finance professionals, Xelix aims to address common blind spots in modern ERP systems. Its main platform is separated into two distinct modules: “protect” and “insight”. Protect minimizes risk, identifies hidden threats and prevents incorrect payments that are often missed by ERP systems. Insight provides real-time visibility into ERP data, automates reporting, and provides predictive insights to help professionals better control their spend.
Main P2P platforms: 9. Middle finger
Medius’ comprehensive suite of e-procurement solutions includes P2P, as well as strategic sourcing, data insights and more. Founded in 2001 in Sweden, it now has 400 employees operating from offices across Europe and the United States.
The company says nearly 4,000 customers and more than 500,000 unique users use Medius’ spend management solutions worldwide, handling transactions worth more than $160 billion annually. Wax Digital, the cloud-based e-procurement company, was acquired by Medius in 2019, bolstering its end-to-end spend management solutions.
Main P2P platforms: 8. Basware
Basware’s slogan is “Simplify Operations”. Spend Smarter’ – a mantra that underpins its Source-to-Pay (S2P) ecosystem. This ecosystem includes a full suite of P2P solutions, from e-procurement to accounts payable automation and analytics. Its platform consolidates financial data from all units of an organization, centralizing it in a single system for better end-to-end visibility and to enable professionals to make more informed strategic decisions. The company is consistently listed in Gartner’s Magic Quadrant Leader for Procure-to-Pay suites.
Main P2P platforms: 7. JAGGAER
JAGGAER has more than five million global suppliers on its Enterprise Commerce Network, giving buyers access to its mountain of supply chain sources.
Using AI and machine learning, JAGGAER’s Digital Mind solution provides intelligent match recommendations that help buyers reduce supplier risk and increase revenue by autonomously performing tasks repetitive and time-consuming. In turn, this allows employees to focus on high value-added activities.
JAGGAER’s platform evolves over time, using AI to support users through every step of the P2P process and deliver valuable, actionable insights to professionals.
Main P2P platforms: 6. Zycus
Zycus has been a pioneer in cognitive sourcing software for global enterprises for over two decades. With its revolutionary Merlin AI suite, Zycus empowers procurement and accounts payable (AP) professionals to focus on strategic projects.
It helps companies save money, reduce risk and strengthen compliance, says the company, recognized by Gartner, Forrester and other top analysts for its integrated S2P suite. Zycus offers data-driven insights “to enable faster, smarter decisions,” and its conversational-style AI delivers a B2C-like graphical interface to end users.
Main P2P platforms: 5. Ivalua
Founded in 2000, Ivalua is an S2P suite dedicated to transforming spend and vendor management. Used by more than 300 large enterprises, Ivalua’s solutions manage more than $500 billion in direct and indirect spend. The solution is designed to help users optimize efficiency, reduce risk, unlock supplier-led innovation, maximize profitability and improve sustainability.
Ivalua delivers value by reducing non-conforming spend, improving final spend visibility, and automating invoices. In a recent case study, Ivalua’s solution saved a leading glass packaging company an average of 19% over four years.
Main P2P platforms: 4. Oracle
Procure-to-Pay is just one module of Oracle’s comprehensive Oracle Fusion Cloud ERP, which also includes strategic sourcing, vendor management, a corporate network and more.
The module streamlines purchasing by automating Purchase Orders (PO) from approved requisitions. It also improves revision management, providing a complete history of changes. Other features include: automated invoice matching – to free professionals from unnecessary administrative tasks – and accelerated payment processing.
Main P2P platforms: 3. Chopped off
Coupa’s P2P solution spans the end-to-end transactional journey, from strategic sourcing and demand to invoicing and payments. But that’s just a small part of the company’s overall trade spend management platform, which also enables organizations to automate contract lifecycle management, manage design and planning supply chain, manage supplier risk, uncover actionable insights, and more.
It enables organizations to source more sustainably, with a suite of ESG features to track supplier compliance and meet carbon emissions targets. The platform enables procurement teams to “evolve beyond the bureaucratic back-office function” and instead deliver a data-driven strategy to achieve business goals.
Main P2P platforms: 2. EPG
GEP provides transformative supply chain solutions to help global enterprises become more agile and resilient, operate more efficiently and gain competitive advantage. GEP Smart is an S2P platform for direct and indirect procurement. The solution helps organizations digitally transform their end-to-end procurement operations by harnessing the power of AI and the cloud.
GEP SMART is a central platform to unify the order-to-invoice process with the source-to-contract process. Focused on user experience and intuitive deployment, it gives stakeholders access to crucial visibility.
Main P2P platforms: 1. SAP Ariba
SAP Ariba is the benchmark for P2P solutions, connecting procurement professionals to the world’s largest B2B network. The platform centralizes the procurement of indirect goods and services and automates the purchasing lifecycle – from requisitions and purchase orders to receipt of goods and payment.
It offers an intuitive user experience that the company says is “as comfortable as shopping online,” with customizable language, currency, and dashboard settings.
SAP has been recognized for the fifth consecutive year in the Gartner 2020 Magic Quadrant for Procure-to-Pay Suites.
Ariba also offers its customers the Ariba Network, a dynamic, digital marketplace for buyers and suppliers in 190 countries that can transact trillions of dollars annually in commerce.