Amid the ongoing challenges posed by the pandemic and disrupted supply chains, companies are relying more on e-procurement systems to purchase what they need.

As the global COVD-19 pandemic pushes into its third year and continues to roil supply chain management, organizations of all sizes keep on scurrying for new ways to source products and services.

Last year, e-procurement sales volume grew to $934.2 billion, up 17% from $798.4 billion in 2020.

And one channel they are using much more of these days is e-procurement and punchout, which enables businesses to purchase supplies directly from a supplier’s ecommerce website or B2B marketplace without leaving their own e-procurement application.

In 2021, e-procurement once more emerged as among the fastest growing digital commerce sales channels. In fact, in 2022 e-procurement for the first time will top $1 trillion in annual sales, based on a projection from Digital Commerce 360.

Last year, e-procurement sales volume grew to $934.2 billion, up 17% from $798.4 billion in 2020. In 2021, e-procurement also accounted for 8.5% and 7.1%, respectively, of all U.S. digital commerce sales and total B2B sales.

Data from other e-procurement sources point to reasons for more growth—and the accelerated emergence of e-procurement as a digital sales channel. For example, PunchOut2Go—a provider of punchout software that automates B2B commerce transactions between suppliers’ ecommerce platforms and buyers’ procurement systems for goods ranging from medical supplies to heavy equipment—reports that the total number of e-procurement sessions grew 88% from about 8.9 million in 2020 to about 16.7 million in 2021, and that it added 110 new clients and 723 more trading partners. More than $16 billion in purchase orders also ran through the company’s e-procurement integration application.

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“Better supply chain management is causing more companies to look at e-procurement and punchout,” says PunchOut2Go CEO Troy Lynch.

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