Procurement software supports sourcing and tendering, supplier management, contract management, purchase-to-pay and spend analysis. Buyers use it to compare offers, assess suppliers, process orders and invoices, and see where the money goes. Coupa is a well-known non-European reference point.
The sovereignty question has an extra layer here, because many procurement platforms are also a network or marketplace run by the vendor. Your suppliers connect through the platform, often with their own portals and onboarding processes, and build relationships and catalogues there. When you switch, you must therefore bring not only your own data but your suppliers too. In addition, supplier data, risk scores and signed contracts together give a sharp picture of your dependencies. NIS2 requires organisations in the covered sectors to take cybersecurity risk-management measures and makes supply chain security a policy topic. A procurement system holding supplier data can support that.
When choosing a European option, look for open exchange standards for orders and e-invoices, full export of contracts, catalogues and history, and whether suppliers can keep connecting outside the platform. Ask what role the provider plays in the supplier network and whether risk assessments remain in your own system.