{"id":1644,"date":"2015-03-24T11:19:53","date_gmt":"2015-03-24T11:19:53","guid":{"rendered":"https:\/\/stagingwww.zycus.com\/deciphering-the-procurement-technology-market"},"modified":"2026-02-09T09:48:45","modified_gmt":"2026-02-09T09:48:45","slug":"deciphering-the-procurement-technology-market","status":"publish","type":"post","link":"https:\/\/dev.zycus.com\/freshz\/blog\/procurement-technology\/deciphering-the-procurement-technology-market","title":{"rendered":"Deciphering the Procurement Technology Market"},"content":{"rendered":"<p style=\"text-align: justify;\">Recently Gartner released a report \u2013 <strong>Magic Quadrant for Strategic Sourcing Application Suites 2015<\/strong> evaluating the strategic sourcing application suites market. The strategic sourcing application suite delivers four primary capabilities \u2013 Spend Analysis, <a href=\"https:\/\/dev.zycus.com\/freshz\/blog\/procurement-technology\/understanding-the-what-why-how-of-strategic-sourcing\">eSourcing<\/a>, Contract Management and Supply Base Management.<\/p>\n<p style=\"text-align: justify;\">The report evaluates 14 vendors on two parameters \u2013 <strong><em>Ability to Execute<\/em><\/strong> &#8211; products, processes, systems, methods and procedures to achieve competitiveness, efficiency and effectiveness and <strong><em>Completeness of Vision<\/em> <\/strong>&#8211; to grasp current and future market and technology trends, customer needs, and competitive forces as Gartner views them.<\/p>\n<p style=\"text-align: justify;\"><img fetchpriority=\"high\" decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/dev.zycus.com\/freshz\/wp-content\/uploads\/2015\/03\/GMQ-blog.png.webp\" alt=\"Gartner\" width=\"511\" height=\"534\" \/><\/p>\n<p style=\"text-align: justify;\">We believe that the procurement technology landscape has changed quite dramatically in last one year itself. While last year\u2019s report had eight players in the leaders quadrant, this year the market has become more pronounced with just four players marking the leaders\u2019 territory. (As seen in the graph above).<\/p>\n<p style=\"text-align: justify;\"><a href=\"https:\/\/dev.zycus.com\/freshz\/s2p-digitization-diagnostic\/\" target=\"_blank\" rel=\"noopener\"><img decoding=\"async\" class=\"wp-image-5106 aligncenter\" src=\"https:\/\/dev.zycus.com\/freshz\/wp-content\/uploads\/2015\/11\/S2P-Digitization-Tool.webp\" alt=\"S2P\" width=\"399\" height=\"111\" srcset=\"https:\/\/dev.zycus.com\/freshz\/wp-content\/uploads\/2015\/11\/S2P-Digitization-Tool.webp 900w, https:\/\/dev.zycus.com\/freshz\/wp-content\/uploads\/2015\/11\/S2P-Digitization-Tool-300x83.webp 300w, https:\/\/dev.zycus.com\/freshz\/wp-content\/uploads\/2015\/11\/S2P-Digitization-Tool-768x213.webp 768w\" sizes=\"(max-width: 399px) 100vw, 399px\" \/><\/a><\/p>\n<p style=\"text-align: center;\">Source-to-Pay Digitization Diagnostic<\/p>\n<p style=\"text-align: justify;\">The procurement function is becoming more strategic. Procurement professionals today are utilizing technology to not just source products\/services but configuring the solutions to track savings, measure and monitor supply risk, support category management, and leverage community\/ecosystem knowledge.<\/p>\n<p style=\"text-align: justify;\"><strong>Learn More: <a class=\"rebPrimaryCta\" href=\"https:\/\/zycusicontract.com\/\" target=\"_blank\" rel=\"noopener\">Zycus iContract Solution<\/a><\/strong><\/p>\n<ul style=\"text-align: justify;\">\n<li>The global strategic sourcing application suite market was expected to achieve $1.1 billion in revenue in 2014; Gartner expects this market to achieve a compound annual growth rate (CAGR) <strong>growth rate of 8% to reach $1.5 billion by 2018<\/strong><\/li>\n<li><strong>Multitenant SaaS delivery dominates<\/strong>. 81 percent of the references provided for this report are deployed as multitenant SaaS. 14 percent are private cloud, and the remaining 5% are on-premises installations. The major driver for multitenant SaaS is significantly easier upgradability and, thus, access to innovation<\/li>\n<li><strong>Mobile support is on the rise<\/strong>. 53 percent of the vendors covered offer the ability to approve a contract or sourcing event from a mobile device, up dramatically from 34% in 2013<\/li>\n<li><strong>Big data is on the rise<\/strong>. 70 percent of the vendors in this report offer a supplier marketplace<\/li>\n<li><strong>Procurement is the buyer<\/strong>. 82 percent of references said procurement was the lead decision maker for selecting a strategic sourcing suite<\/li>\n<\/ul>\n<p style=\"text-align: justify;\">*Gartner, Inc., Magic Quadrant for Strategic Sourcing Application Suites, Deborah R Wilson, Richard Adams<\/p>\n<p style=\"text-align: justify;\"><strong>Disclaimer<\/strong>:<br \/>\nGartner does not endorse any vendor, product or service depicted in its research publications, and does not advise technology users to select only those vendors with the highest ratings or other designation. Gartner research publications consist of the opinions of Gartner&#8217;s research organization and should not be construed as statements of fact. Gartner disclaims all warranties, expressed or implied, with respect to this research, including any warranties of merchantability or fitness for a particular purpose.<\/p>\n<p><strong>Related Read:<\/strong><\/p>\n<ol>\n<li><a href=\"https:\/\/dev.zycus.com\/freshz\/blog\/procurement-technology\/five-precepts-to-digital-procurement-transformation\">Blog \u2013 Five Precepts to Digital Procurement Transformation<\/a><\/li>\n<li><a href=\"https:\/\/dev.zycus.com\/freshz\/blog\/procurement-technology\/technology-sourcing-procurement-and-vendor-management-need-a-center-of-excellence-to-be-digital-business-ready\">Blog \u2013 Technology Sourcing, Procurement and Vendor Management Need a Center of Excellence to Be Digital-Business-Ready<\/a><\/li>\n<li><a href=\"https:\/\/dev.zycus.com\/freshz\/blog\/e-invoicing\/unlock-the-value-of-digital-transformation-by-adopting-e-invoicing\">Blog \u2013 Nlock The Value Of Digital Transformation By Adopting E-Invoicing<\/a><\/li>\n<li><a href=\"https:\/\/dev.zycus.com\/freshz\/solution\/procurement-performance\">Source to Pay Software Solution<\/a><\/li>\n<li><a href=\"https:\/\/dev.zycus.com\/freshz\/knowledge-hub\/whitepapers\/digital-transformation-in-procurement\">White Paper \u2013 Digital Transformation in Procurement<\/a><\/li>\n<li><a href=\"https:\/\/dev.zycus.com\/freshz\/knowledge-hub\/whitepapers\/digital-destination-charting-your-digital-procurement-journey\">White paper \u2013 Digital Destination: Charting Your Digital Procurement Journey<\/a><\/li>\n<li><a href=\"https:\/\/dev.zycus.com\/freshz\/press-releases\/zycus-and-ardent-partners-to-discuss-the-sourcing-procurement-technology-innovation-outlook-2016-2017\">Press release &#8211; Zycus and Ardent Partners to discuss the Sourcing &amp; Procurement- Technology &amp; Innovation Outlook (2016- 2017)<\/a><\/li>\n<\/ol>\n","protected":false},"excerpt":{"rendered":"<p>Recently Gartner released a report \u2013 Magic Quadrant for Strategic Sourcing Application Suites 2015 evaluating the strategic sourcing application suites market. The strategic sourcing application suite delivers four primary capabilities \u2013 Spend Analysis, eSourcing, Contract Management and Supply Base Management. The report evaluates 14 vendors on two parameters \u2013 Ability to Execute &#8211; products, processes, [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":100836,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"site-sidebar-layout":"default","site-content-layout":"default","ast-site-content-layout":"default","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"default","adv-header-id-meta":"","stick-header-meta":"default","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"set","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"footnotes":""},"categories":[1941,1937,1942,1938,1939],"tags":[424,563,648,667,404,1506,1507,1508,351,589,903,371,364,668,441,460,354,669,356,690,715,361],"ppma_author":[170],"class_list":["post-1644","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-contract-management","category-procurement-technology","category-spend-analysis","category-strategic-sourcing","category-supplier-management","tag-contract-management-2","tag-contract-management-solution","tag-contract-management-solutions","tag-e-sourcing-solution","tag-esourcing","tag-gartner-magic-quadrant-2015","tag-gartner-report","tag-gmq-2015","tag-procurement","tag-procurement-automation","tag-procurement-objectives","tag-procurement-technology-2","tag-sourcing","tag-sourcing-solutions","tag-spend-analysis-2","tag-spend-management","tag-strategic-sourcing-2","tag-strategic-sourcing-software","tag-supplier-management-2","tag-supplier-management-software","tag-supplier-management-solution","tag-zycus"],"acf":[],"authors":[{"term_id":170,"user_id":0,"is_guest":1,"slug":"zycus-inc","display_name":"Zycus","avatar_url":{"url":"https:\/\/dev.zycus.com\/freshz\/wp-content\/uploads\/2025\/02\/zycus-author.png","url2x":"https:\/\/dev.zycus.com\/freshz\/wp-content\/uploads\/2025\/02\/zycus-author.png"},"author_category":"0","last_name":"Agentic Procurement Platform","first_name":"Zycus","job_title":"","user_url":"https:\/\/dev.zycus.com\/freshz","description":"Zycus is an Agentic Procurement Platform that is redefining procurement from Source-to-Pay to Intake-to-Outcomes. Its unified platform combines native Intake, agentic AI, and an end-to-end S2P core to help enterprises drive real procurement outcomes \u2014 not just transactions. Recognized by Gartner, Forrester, IDC, and customers worldwide, Zycus is shaping the next generation of procurement with the Merlin Agentic AI Platform."}],"_links":{"self":[{"href":"https:\/\/dev.zycus.com\/freshz\/wp-json\/wp\/v2\/posts\/1644","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dev.zycus.com\/freshz\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dev.zycus.com\/freshz\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dev.zycus.com\/freshz\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/dev.zycus.com\/freshz\/wp-json\/wp\/v2\/comments?post=1644"}],"version-history":[{"count":0,"href":"https:\/\/dev.zycus.com\/freshz\/wp-json\/wp\/v2\/posts\/1644\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dev.zycus.com\/freshz\/wp-json\/wp\/v2\/media\/100836"}],"wp:attachment":[{"href":"https:\/\/dev.zycus.com\/freshz\/wp-json\/wp\/v2\/media?parent=1644"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dev.zycus.com\/freshz\/wp-json\/wp\/v2\/categories?post=1644"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dev.zycus.com\/freshz\/wp-json\/wp\/v2\/tags?post=1644"},{"taxonomy":"author","embeddable":true,"href":"https:\/\/dev.zycus.com\/freshz\/wp-json\/wp\/v2\/ppma_author?post=1644"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}