I was not planning any more posts on Procure-to-Pay suites, but then Gartner issued their Magic Quadrant on the market. I felt compelled to revisit the topic in one, very simple way: through an investor’s lens.
It is rare that so many key players in a market are pure-play, public companies or have recently been acquired. All I did was add the market caps of the various public players to Gartner’s famous Magic Quadrant. Here ’tis:
Given the gap between Ariba’s purchase price and the next two biggest competitors (from a market cap standpoint–Basware and Sciquest), you can understand the keen interest in Coupa. I’m sure the next layer of providers are also feeling their oats. This market may be more than 15 years old now, but it still is a horse race for #2.
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