John is CEO of NelsonHall, the leading business process services (BPS) and IT services (ITS) research and analysis firm, and is widely regarded as one of the world's leading authorities on achieving business transformation through the application of BPS.
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Rachael Stormonth, Senior Vice President at BPS analyst house NelsonHall, discusses the latest business trends in F&A BPS with Professional Outsourcing magazine, and describes how some companies are using it as a platform for business transformation.
published on Jul 02, 2025
NelsonHall's market analysis of the Modernizing Procurement Through Digitalization market and industry trends consists of 72 pages
NelsonHall’s modernizing procurement through digitalization report is a comprehensive market assessment report designed for:
The report analyzes the worldwide market for procurement transformation services and addresses the following questions:
The procurement transformation services market is undergoing a major shift as organizations embrace digitalization, autonomy, and outcome-driven models to modernize their procurement functions. As per NelsonHall estimates, the global market is projected to grow at ~5% CAGR, reaching approximately $3.7bn by 2030. North America is expected to maintain the largest market share at ~48%, while APAC and LATAM are anticipated to experience the highest growth at a 11-15% CAGR. Growth is increasingly driven by demand from industries such as BFSI, retail, energy, and high-tech, along with rising interest from mid-sized enterprises and first-time outsourcers. Buyers are prioritizing procurement transformation to enhance efficiency, improve stakeholder experience, and increase compliance. Technology-led initiatives, particularly those focused on GenAI, analytics, and platform orchestration, are becoming central to modernization agendas in procurement. Clients also expect vendors to bring strategic advisory, domain expertise, and the ability to integrate solutions across fragmented procurement systems.
Key highlights from the vendor landscape reveal that leaders like Accenture, GEP, Genpact, Infosys, and TCS are defining the next phase of procurement transformation through co-developed solutions, proprietary platforms, and AI-enabled offerings. Vendors are increasingly delivering end-to-end source-to-pay support, embedding automation, spend intelligence, and GenAI to improve sourcing, contract management, and procurement operations. Buyers express high satisfaction in areas such as spend analytics, category management, and tail spend optimization, but identify gaps in helpdesk, sourcing support, and change adoption. The market also indicates a growing appetite for outcome-based commercial models, including gainshare, milestone-linked payments, and BPaaS constructs, which align vendor incentives with business impact. Vendors that offer modular, scalable, and cloud-native solutions are better positioned to meet client expectations for speed, agility, and the delivery of measurable value.
The top five procurement transformation services vendors by revenue include Accenture, GEP, Genpact, IBM, and TCS, which together account for ~56% of the market. Other key vendors covered in this report include Infosys, WNS Procurement, Capgemini, Cognizant, Tech Mahindra, and Wipro.
