Europe Procure-to-Pay (P2P) Solutions Market Drivers and Forecasts by 2031

Historic Data: 2021-2022 | Base Year: 2023 | Forecast Period: 2024-2031

Europe Procure-to-Pay (P2P) Solutions Market Size and Forecast (2021 - 2031), Regional Share, Trend, and Growth Opportunity Analysis Report Coverage: By Component (Solution and Services), Industry (Manufacturing, Retail, Healthcare, IT and Telecom, and Others), Organization Size [Large Enterprises and Small and Medium Enterprises (SMEs)], Deployment (On-Premise and Cloud-Based), and Country (France, Italy, Spain, Portugal, and Rest of Europe)

Report Date : May 2024
Report Code : TIPRE00039101

Category : Technology, Media and Telecommunications
Status : Published

Available Report Formats :
No. of Pages : 170

Page Updated: May 2024

Analysis Strategic Insights Market Drivers Regional Insights Report Scope Recent Developments FAQs

The Europe Procure-to-Pay (P2P) solutions market size is projected to reach US$ 4.16 billion by 2031 from US$ 2.16 billion in 2023. The market is expected to register a CAGR of 8.5% in 2023–2031.

The Procure-to-Pay (P2P) solutions market trends include the growing demand for cloud-based solutions and digital transformation in the industry.

Europe Procure-to-Pay (P2P) Solutions Market Analysis

There is a significant influence of regulatory factors, such as adherence to Pan-European Public Procurement Online (PEPPOL) regulations, in the procure-to-pay (P2P) solutions market in Europe. Businesses in Europe need P2P solutions that interface easily with e-invoicing systems, allowing for efficient and regulated electronic invoicing procedures. The emphasis on sustainability in Europe also influences P2P solutions, with companies seeking purchase-to-pay solutions that integrate advanced technology considerations into their procurement procedures. PEPPOL is not an e-procurement platform; however, it offers a set of technical specifications that can be applied to existing e-business exchange services and e-procurement solutions. By joining the PEPPOL network, organizations can increase the effectiveness of their own P2P process through the automation of the import of documents exchanged in the PEPPOL network into their financial system. PEPPOL was originated by the European public sector and intended to exchange electronic purchasing documents with its suppliers. However, the network has grown in popularity and is no longer used exclusively for exchange with the government. Currently, every organization can exchange documents and invoices with other establishments that are associated with the PEPPOL network.

Europe Procure-to-Pay (P2P) Solutions Market Overview

The Procure-to-Pay (P2P) solutions process encompasses the seamless integration of purchasing and accounts payable systems to optimize operational efficiencies. As an integral part of the broader procurement management framework, P2P involves four critical stages: the selection of goods and services that align with organizational needs and objectives; ensuring compliance and issuing purchase orders to formalize the procurement process; receiving and reconciling the delivered goods or services with the initial orders; and managing the invoicing and payment procedures. This end-to-end process streamlines and enhances the entire procurement lifecycle, allowing businesses to achieve cost savings, mitigate risks, and gain greater control and transparency over their purchasing activities. Organizations can efficiently oversee global purchasing, approvals, compliance, payments, and supplier management by implementing a digitized and automated procure-to-pay process. This streamlined approach enables seamless coordination across international operations, facilitates swift decision-making, ensures adherence to regulatory requirements, and strengthens supplier relationships. Additionally, automation enhances visibility into the entire procure-to-pay cycle, empowering businesses to optimize cash flow, minimize errors, and drive operational agility.

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Europe Procure-to-Pay (P2P) Solutions Market: Strategic Insights

Europe Procure-to-Pay (P2P) Solutions Market

Market Size 2023
US$ 2.16 Billion

Market Size 2031
US$ 4.16 Billion

Market Dynamics

GROWTH DRIVERS
Increasing Demand for E-Invoicing and Regulatory Influence
Rising Use of Mobile Procurement Solutions
Growing Demand for Cloud-Based Solutions

FUTURE TRENDS
Digital Transformation Initiative

OPPORTUNITIES
Technological Innovations and Automation Integration with Enterprise Resource Planning Systems

Regional Overview

Europe

Market Segmentation

Component

Solution
Services

Industry

Manufacturing
Retail
Healthcare
IT and Telecom

Organization Size

Large Enterprises
Small and Medium Enterprises

Deployment

On-Premise
Cloud-Based

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Europe Procure-to-Pay (P2P) Solutions MarketReport Scope

Europe Procure-to-Pay (P2P) Solutions Market Report Scope

Report Attribute	Details
Market size in 2023	US$ 2.16 Billion
Market Size by 2031	US$ 4.16 Billion
Global CAGR (2023 - 2031)	8.5%
Historical Data	2021-2022
Forecast period	2024-2031
Segments Covered	By Component Solution Services By Industry Manufacturing Retail Healthcare IT and Telecom By Organization Size Large Enterprises Small and Medium Enterprises By Deployment On-Premise Cloud-Based
Regions and Countries Covered	Europe UK Germany France Russia Italy Rest of Europe
Market leaders and key company profiles	GEP Coupa Software Inc. Ivalua Inc. Oracle SAP SE

Frequently Asked Questions

What is the future trend of the Europe procure-to-pay (P2P) solutions market?

Digital transformation initiative is the future trend of the Europe procure-to-pay (P2P) solutions market.

Which are the key players holding the major market share of Europe procure-to-pay (P2P) solutions market?

The key players, holding majority shares, in Europe procure-to-pay (P2P) solutions market includes Oracle, SAP SE, GEP, Coupa Software Inc., and Ivalua Inc.

What is the estimated Europe market size for the procure-to-pay (P2P) solutions market in 2023?

The Europe procure-to-pay (P2P) solutions market was valued at US$ 2.16 billion in 2023; it is expected to grow at a CAGR of 8.5% during 2023–2031.

What will be the market size for Europe procure-to-pay (P2P) solutions market by 2031?

The Europe procure-to-pay (P2P) solutions market is expected to reach US$ 4.16 billion by 2031.

What are the driving factors impacting the Europe procure-to-pay (P2P) solutions market?

Factors such as Increasing demand for e-invoicing & regulatory influence and rising use of mobile procurement solutions are the driving the Europe procure-to-pay (P2P) solutions market growth.

Research Manager

Ankita Mittal

Manager,
Market Research & Consulting

Ankita is a dynamic market research and consulting professional with over 8 years of experience across the technology, media, ICT, and electronics & semiconductor sectors. She has successfully led and delivered 100+ consulting and research assignments for global clients such as Microsoft, Oracle, NEC Corporation, SAP, KPMG, and Expeditors International. Her core competencies include market assessment, data analysis, forecasting, strategy formulation, competitive intelligence, and report writing.

Ankita is adept at handling complete project cycles—from pre-sales proposal design and client discussions to post-sales delivery of actionable insights. She is skilled in managing cross-functional teams, structuring complex research modules, and aligning solutions with client-specific business goals. Her excellent communication, leadership, and presentation abilities have enabled her to consistently deliver value-driven outcomes in fast-paced and evolving market environments.

What are the Europe Procure-to-Pay (P2P) Solutions Market report deliverables?

Historical Analysis (2 Years), Base Year, Forecast (7 Years) with CAGR
PEST and SWOT Analysis
Market Size Value / Volume - Global, Regional, Country
Industry and Competitive Landscape
Excel Dataset

Europe Procure-to-Pay (P2P) Solutions Market Report Snapshots

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