Spend Orchestration Market Grows to Meet Buyers' Needs

Spend Orchestration Market Grows to Meet Buyers' Needs

This IDC Market Perspective discusses the capabilities of spend orchestration and enterprise procurement applications. Spend orchestration is a growing segment of the procurement application space that acts to centralize purchase requests and foster collaboration across the necessary stakeholders required to approve such requests, providing a cross-functional and streamlined approach that drives enhanced visibility and is designed to speed the approval process. Providers are expanding beyond the purchasing process as they grow into the full spend management cycle. "The spend orchestration space is growing quickly, with existing providers adding functionality and many new entrants entering the space. Buyers report they appreciate the clean, transparent, and workflow-centric approach that drives visibility and time to value. While it remains very early, there are already a number of highly compelling use cases," said Patrick Reymann, research director, Procurement and Enterprise Applications at IDC.

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