Asia-Pacific Procurement as-a-Service Market Size and Competitive Analysis by 2027

The Procurement as-a-Service market in Asia-Pacific is expected to grow from US$ 907.6 Million in 2019 to US$ 1496.8 Million by 2027; it is estimated to grow at a CAGR of 7.60% from 2020 to 2027.

Procurement as-a-service is an outsourced procurement business model that combines staff, technology, and expertise to manage a portion, or complete, of user’s organization’s procurement functions. Technology supports the service providers to see what their customers are spending money on, and where they are likely to find potential savings. Procurement as-a-service offerings support the end-users to select the categories for sourcing and allocate category experts to manage purchasing for those categories. These services rely on technology to do the sourcing and procurement, tracking payments and purchases and also handle three-way matching to make sure that the users are only paying for what they get.

Several procurements as-a-service Market providers make the entire process visible to the enterprises they work with, usually through the reporting portals. Through this portal the users get the access to analytics and the procurement tool so that they can work on their own reports, record their inventory, and upload payments. Procurement as-a-service is similar to SaaS, or software as a service, but manages procurement services.

The Asia Pacific procurement as-a-service market is anticipated to witness impressive growth during the forecast period. The increasing demand from enterprises to streamline the procurement processes and positive impact of BPO evolution on procurement outsourcing are the major driving factors for the Asia Pacific procurement as-a-service market.

Moreover, the constant evolution of infected individuals has led the government to enforce lockdown across the nation’s borders. The mainstreams of the manufacturing plants are shut down, municipalities are functioning sluggishly as compared to the past, and the automotive and semiconductor industries are at a halt, which is negatively impacting the procurement as-a service market.

Asia-Pacific Procurement as-a-Service Market Segmentation

Asia-Pacific Procurement as-a-Service Market – by Component

• Strategic Sourcing
• Spend Management
• Category Management
• Process Management
• Contract Management
• Transaction Management

Asia-Pacific Procurement as-a-Service Market – by Enterprise Size

• SMEs
• Large Enterprises

Asia-Pacific Procurement as-a-Service Market – by End-User Industry

• IT and Telecom
• Consumer Goods and Retail
• Manufacturing
• Energy and Utility
• Healthcare
• Hospitality and Tourism
• Others

Asia-Pacific Procurement as-a-Service Market – by Country

• China
• Australia
• India
• Japan
• South Korea
• Rest of APAC

Asia-Pacific Procurement as-a-Service Market-Companies Mentioned

• Accenture
• CAPGEMINI SE
• Corbus, LLC
• Genpact Ltd
• GEP
• HCL Technologies
• IBM Corporation
• Infosys Ltd
• Wipro Limited
• WNS (Holdings) Limited

Asia-Pacific Procurement as-a-Service Report Scope