Remove 2026 Remove Contract management Remove Spend management
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Will Digital Procurement Tech Grow 25.3% Year-on-Year?

Procurement Software

(Just for the record, I didn’t spend $4,500 to read it in full!). billion in 2021 to a projected $8 billion by 2026, which corresponds to a compound annual growth rate, or CAGR, of 25.3% In other words, I would lump e-sourcing, contract management and certain supply chain risk and resilience technology into this definition too.

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Why Procuretech has Immense Potential to Grow

Procurement Software

The reason can be found in their high margins and thus, cost and vendor management not being at the forefront of their critical business priorities. Tech companies definitely see the value in data analytics and this pans out to contract management, streamlining processes and detailed spend analysis.