Q2 2025 research roundup: A deep dive into procurement tech market movements; updated coverage of 13 vendors

Throughout the year our analyst team provides vendor-specific profiles and tech solution analyses as part of Spend Matters Insider content. Our coverage also explores the latest thought leadership topics about procurement and supply, the technology that serves it and comparative analyses based on demos and the scoring of 500+ RFI requirements across 12 source-to-pay (S2P) categories that create our Vendor Ranking data. In this roundup of Q2, we review the Vendor Analyses and other Insider content that the team produced in that quarter. We then look ahead to what members can expect in the coming months.

Each article is followed by a pair of parentheses containing information about the membership level needed to read that piece. If there is no information, the article is free to read. More information about the differences in membership levels can be found on the Spend Matters Insider page.

Exploring the world of procuretech in Q2

Spend Matters Insider coverage in Q2 included more than just our staple Vendor Analyses. Our team keeps tabs on the latest news in the procurement world and explores ideas that will inform its future. A collection of these quick takes, conference insights and solution comparisons is below.

Digital procurement survival guide

To better navigate the stages of digitally transforming your Procurement processes, Spend Matters created a guide packed with clear, actionable and phased advice for a successful, digitally fueled transformation. The guide is an invaluable tool for anyone thinking about starting or actively undergoing a digitally-enabled procurement transformation. All of the phases are peppered with real-world case studies from the people who have been in your shoes; so you don’t have to step into the same holes they’ve already avoided!

Strengthening procurement – Transforming through people and skills

Technology is a means, not an end

Seven years later: Charting procurement’s digital roadmap from automation to AI-driven human augmentation

How to implement a future-ready e-procurement function

How to implement a future-ready AP function

Re-framing procurement transformation through mindset to foster better adoption

Defining success metrics and ROI in digital transformation: A procurement perspective

Selecting the right technology for procurement

Navigating the vendor landscape

Getting to the digital ‘yes’ – What makes a good case for procuretech

“Watching the (CPO) Detectives” — Measuring digital procurement success

Find the whole guide here

Aligning Procurement and Finance

Achieving true alignment between Finance and Procurement is a strategic necessity;  it ensures cost control, financial transparency and efficient operations. This guide is designed to be a practical resource, offering targeted insights on each critical phase of the finance-procurement alignment journey. It provides expert-driven materials, including real-world case studies and briefing papers, actionable strategies, and more,  to help you navigate specific challenges — whether you’re identifying misalignments, prioritizing initiatives or integrating technology for seamless collaboration.

A Finance–Procurement alignment approach — Executive Summary

Phase 1: Understanding the foundations – Aligning CFO initiatives with CPO strategies

Phase 2: Identifying misalignments and addressing the gaps

Phase 3: A path to collaboration

Phase 4: Leveraging technology to bridge the gap

Phase 5: Sustaining alignment success

Use case 1:

From silos to strategy — Aligning Finance and Procurement for competitive cash flow management and liquidity (free download)

How Phase 1 works for cash flow optimization and liquidity

How Phase 2 works for cash flow optimization and liquidity

How Phase 3 works for cash flow optimization and liquidity

How Phase 4 works for cash flow optimization and liquidity

How Phase 5 works for cash flow optimization and liquidity

Aligning CFO and CPO strategies for 2025 success

Use case 2:

Aligning Procurement and Finance for expense management for financial forecasting and control

How Phase 1 works for expense management and financial forecasting

How Phase 2 works for expense management and financial forecasting
(The series continues weekly)

Spend Matters Procurement Services provider landscape

Spend Matters has released updated research on the Procurement Services market, specifically focusing on source-to-pay (S2P) implementation providers. Our analysts have spent months creating a survival guide for Procurement transformation, a new SolutionMap comparison of Procurement Services providers for Insider members and a new in-depth guide covering Procurement Services providers; as we know it does not matter how much an organization invests in new technologies if they are implemented poorly. Many need help along the way, and many need help finding the help.

AI in Procurement

AI in procurement: How different industries are harnessing its power

Across industries, AI is capable of reshaping procurement, making it smarter, more predictive and highly efficient. In this article, we highlight some of the key changes AI has made to procurement strategies in the following industries: manufacturing and industrials, life sciences and healthcare, and the public sector.

Smarter, faster, still human — A GenAI playbook for modern sourcing

Iyyappan Chandramouleeswaran, a source-to-pay transformation specialist and ex-management consultant, offers some personal insights into how instead of replacing humans in sourcing processes, it unlocks strategic capacity by augmenting their work.

Level up your procurement with AI: From quick wins to game-changing strategy
Artificial intelligence use in procurement isn’t a distant dream — it’s here, reshaping how procurement professionals work. From simple automations that save time to sophisticated strategies that drive major business value, embedding AI in your business processes can provide immense value. But where should you begin? And how can you scale your efforts for maximum impact?

Why human experience still matters in Procurement

We have reached a new frontier in procurement  where systems can suggest, predict, classify and even execute actions. But true procurement knowledge does not live only in systems or databases. It resides in the judgment, intuition and hard-won experience of professionals who have navigated complexity, risk and nuance across countless decisions.

Agents or No, AI or No — The AP function still has a job to do

Regardless of the interface, algorithms or automation claims, the AP function still needs to perform its job. Technology can help, but only if we stay focused on the work that needs to happen.

Agents or No, AI or No — Are you performing the full scope of the e-procurement function?

Agentic systems. LLM-powered copilots. Autonomous requisition flows. Procurement platforms are getting smarter, or most people think so at least. The harder question is whether your organization is performing the full scope of e-procurement in a way that delivers control, efficiency and business value?

Agentic AI and Procurement Part 1: What is Agentic AI

A new generation of intelligent systems that only assists but operates independently is emerging. Known as Agentic AI, these systems are an evolution from previous rules-based automation, which follow predefined, static sequences. In contrast, agentic systems dynamically determine their own processes and tool usage and adapt to changing goals and conditions.

The Intake and Orchestration market

The power orchestration play: Supplier management

Procurement has long sought a strategic seat at the table. Today, it has earned it at the cost of higher expectations with fewer resources. However, a new model is emerging: procurement as Orchestrator of Value.

An emerging threat to the standalone intake and orchestration market (IO)

What’s next for contract markup specialists?

Spend Matters Research Analyst and Director of Strategic Projects and Research Nikhil Gaur looks at how contract markup specialists are responding to a market in which other broader contract lifecycle management solutions are using generative AI to tackle their speciality. (CLM)

Navigating trade turbulence: What tariffs are really exposing in Procurement

Tariffs today are no longer a niche compliance concern; they are a recurring, disruptive force with strategic implications. And they are testing the limits of procurement’s preparedness.

Acquisitions

Coupa buys Cirtuo, adds category management to its spend management suite

Coupa announced during its Inspire 2025 event that it has acquired Cirtuo, a provider of category management software. The move addresses a long-standing gap in many procurement technology offerings: helping teams define and manage procurement strategies, rather than just executing sourcing events. Bertrand Maltaverne and Pierre Mitchell explain what this acquisition may mean.

TPG and Corpay to acquire AvidXchange: A new chapter in corporate B2B payments

The announcement that TPG and Corpay (formerly Fleetcor) will acquire AvidXchange in a $2.2 billion take-private transaction marks a significant moment in the evolution of the corporate B2B payments market. Xavier Olivera, Spend Matters Lead Analyst for Downstream Procurement, explores how this reflects the growing strategic importance of AP automation and managed services.

Events

Coupa Inspire findings

Docusign Momentum 2025 Recap

Ivalua NOW Americas 2025: Innovate to Elevate

Vendor Analyses

AdaptOne is a configurable SIM platform that helps companies streamline supplier onboarding, compliance management and diversity tracking through workflow automation and seamless system integrations. (SXM)

CADDI Drawer is an innovative company that uses AI to digitize and make searchable all manufacturing drawings and procurement data. (Core)

EffiGO manages direct and indirect spend and services across a wide range of industries, emphasizing communication standardization between internal and external stakeholders to provide S2P solutions to global, large-scale enterprises. (S2P)

Enlighta Spice stands out for its ability to simplify the complexities of supplier governance and risk management that tackles challenges of today’s interconnected world. (SXM/SRM)

Flowie offers an AI-driven orchestration platform that connects finance, procurement and compliance systems to streamline operations and reduce risk. (AP/I2P/IO/P2P)

Fraxion’s capabilities address key spend management challenges by streamlining procurement processes and offering detailed visibility into expenses, making it a practical option for SMEs. (P2P)

Ironclad is a best-of-breed CLM solution that differentiates itself by combining its all-contracts enterprise platform with extreme usability, rapid time-to-value and AI innovation.  (CLM)

LightSource tackles the often-overlooked complexities of direct materials sourcing with a fresh, purpose-built approach that blends modern usability, AI-driven insights and global supplier accessibility, including challenging regions like China. (Sourcing)

MeRLIN offers a fully and natively integrated suite that has a modern and configurable UX for the SME to mid market in Europe and America. (S2P)

One Click LCA helps users understand the environmental impact of a product, infrastructure or entire organization. (CO2)

PaymentWorks provides a solution to fraudulent payments and security with a user-friendly and streamlined vendor onboarding and management process. (P2P/SRM)

Spendata is a unique, browser-based platform that provides true, deep spend analysis which end users can build their own dimensions, measures and views quickly at any time, filter and map those at will, and build custom reports from any dimension. (Analytics)

Trustpair provides a fraud-prevention and vendor payment security platform that safeguards financial transactions by automating bank account validation and continuously monitoring vendor master data. (AP/I2P)

Coming up in Q3

Looking beyond Q2 and into Q3, Insider members can expect the steady stream of Vendor Analyses to continue.

Members will also see the following:

• Multiple series further exploring the concrete examples of benefits brought by aligning Finance and Procurement
• A continuation of our Agentic AI in Procurement series
• More from our analysts’ research in Procurement Services Providers
• More on tariff management