The outsourced procurement approach that handles the organization's procurement responsibilities is called Procurement as a Service (Paas). The service layer, technology layer, information & analytics, and compliance & risk management are the essential components of procurement as services. The Platform as a Service (PaaS) model provides a number of advantages to enterprises, including aiding in the selection of categories for sourcing and managing the procurement arrangement of said category by assigning the category expert to the business. It also lowers operating costs and aids in the pro-active and predictive development of procedures like supplier management and strategic sourcing. For enterprises, the Paas model offers better value and flexibility. Consequently, it becomes standard practice for companies of all sizes to handle both transactional and strategic procurement.
Key Players for the Procurement as a Service (PaaS) Market:
IBM, WNS, Infosys, Accenture, HCL Technologies, Capgemini, Proxima, Wipro, Genpact, GEP, Xchanging (DXC Technology), Aegis, CA Technologies, Corbus, TCS
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Segmentation Analysis of the Procurement as a Service (PaaS)
By Product Type
- Strategic Sourcing
- Spend Management
- Category Management
- Process Management
- Contract Management/Transactions Management
By Organization Size
- Large Enterprises
- SMEs
By Industry Vertical
- Manufacturing
- BFSI
- Retail & Consumer Goods
- IT & Telecom
- Energy & Utilities/Healthcare
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COVID-19 Impact on the Procurement as a Service (PaaS) Market
The COVID-19 pandemic started in China in December 2019 and has since quickly spread to other countries. The world is changing in many ways as a result of the COVID virus's ongoing spread. The government of some nations enforces lockdowns and harsh laws pertaining to social distancing, travel restrictions, manufacturing plant closures, and supply chain disruptions. These elements had a major impact on market expansion. Since many companies offer work-from-home options during the epidemic, there is a greater need for the Paas service model. In addition, there will be a rise in online transactions throughout the COVID-19 period, which will enhance demand for the PaaS model. Thus, the Procurement as a Service (PaaS) market has benefited from the spread of Covid-19.
By Region
- North America (US, Canada, Mexico)
- Eastern Europe (Bulgaria, The Czech Republic, Hungary, Poland, Romania, Rest of Eastern Europe)
- Western Europe (Germany, UK, France, Netherlands, Italy, Russia, Spain, Rest of Western Europe)
- Asia Pacific (China, India, Japan, South Korea, Malaysia, Thailand, Vietnam, The Philippines, Australia, New Zealand, Rest of APAC)
- Middle East & Africa (Turkey, Bahrain, Kuwait, Saudi Arabia, Qatar, UAE, Israel, South Africa)
- South America (Brazil, Argentina, Rest of SA)
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- Detailed SWOT analysis of ten profiled companies
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- Trending factors influencing the market in different geographical regions
- Strategic initiatives focusing the leading vendors
- PEST analysis of the market for the five major regions
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