Business Wire: Robotic Process Automation Market Procurement Intelligence Report | Evolving Opportunities with Blue Prism and UiPath in the Robotic Process Automation Market | SpendEdge Robotic Process Automation Market Procurement Intelligence Report | Evolving Opportunities with Blue Prism and UiPath in the Robotic Process Automation Market | SpendEdge The technology used for automating procurement spans a broad spectrum, from robotic process automation (RPA) to agentic AI platforms that can autonomously make real-time risk assessments. Knowing ... A new study by SAP and Oxford Economics on managing procurement spend finds that the discipline is well behind the curve in shedding manual processes and embracing automation.

Understanding the Context

Only 23% of procurement ... What Is Procurement? Procurement is the process of buying or otherwise obtaining goods or services, typically for business or government purposes and usually on a relatively large scale. The term procurement is used to reflect the entire purchasing process or cycle, and not just the tactical components.

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Key Insights

Procurement software (often labeled as e-procurement software) manages purchasing processes electronically. Procurement means the process an organization uses to source and acquire the goods and services it needs — from selecting suppliers and negotiating terms to approving and controlling spend before money is committed. Procurement differs from purchasing: purchasing is primarily focused on the transaction, while procurement covers the broader process of sourcing, supplier management, purchasing, and spend control. Procurement is the process of sourcing and purchasing the goods, services, and raw materials a business requires to operate. Learn more here.

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Final Thoughts

Procurement is the end-to-end process of sourcing, negotiating, and acquiring the goods and services a business needs, from identifying a need to final payment.