The Current State of the Procurement Technology Industry [Infographic]

The procurement technology industry – also known as ProcureTech – has changed a lot in the last few years. The demand for digital procurement has never been greater, with many companies and procurement leaders seeking to uplift their processes. This is driven by the need to save time, improve cost efficiency, and meet reporting requirements.

We’ve gathered the latest research from multiple industry-wide studies and summarised it in a handy procurement infographic below.

Read our Global ProcureTech Report

Want to learn more about the latest procurement technology trends? Read our wider report: “ProcureTech on the Rise: The State of the Industry in 2022”. In it, we examine the source behind the sudden shifts in demand in the procurement function, technology trends, and where the market is heading.

Looking to Upgrade Your Procurement Toolset?

Read our handy guide on how to build a business case for better procurement tools. ProcureTech can help you with a wide range of areas in the procurement lifecycle, from procurement planning, supplier discovery, going to market, contract management and more.

If you’re interested in what procurement solutions are available and how VendorPanel can help, contact us today.