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Effective spend management means managing the end-to-end procurement process, managing the supply chain, managing the contracts & tenders, and managing the invoice effectively.
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BUSINESS SPEND MANAGEMENT SOFTWARE MARKET ANALYSIS • Business Spend Management Software Market Report, by Component (Software/Platform, and Services), by Deployment Type (On-Premise, and SaaS), by Enterprise Size (SME’s, and Large Enterprises), by Solution (Contract & Tender Management, Procure-to-Pay Solutions, Travel & Expense Management, Supplier & Risk Management, and Spend Management/Spend Analytics), by End-use Industry (BFSI, Education, Energy & Utility, Healthcare, Hospitality, IT & Telecom, Manufacturing, and Retail), and by Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa) - Size, Share, Outlook, and Opportunity Analysis, 2019 - 2027
Effective spend management means managing the end-to-end procurement process, managing the supply chain, managing the contracts & tenders, and managing the invoice effectively. It means identifying organizational spend that must be brought under management, and building a strategic savings plan, and actively taking control of that spend to drive realized savings.
Market Dynamics Growth of the global business spend management software market is attributed to the rising adoption of business spend management software across various End-use industries such as BFSI, automobile, retail, for managing expenses through a single platform. Moreover, organizations across the globe are adopting the SaaS-based deployment solutions as it provides faster deployment and agility compared to on- premise deployment. Moreover, business spend management software provider companies are offering cloud-based solutions that can be integrated with the company’s existing business management platforms, thereby eliminating hardware, software, and internal IT requirements which is expected to boost demand for business spend management solutions. For instance, Coupa’s cloud-based business spend management solutions can be integrated with multiple enterprise resource planning (ERP) solutions such as SAP ERP and Oracle ERP. However, data security concerns in cloud-based software are some of the major challenges that are expected to hamper the demand for business spend management software. Cloud-based business spend solutions store highly sensitive data related to procurement, contracts, tenders, supply chain, and other business expenses on servers. If data belonging to multiple companies is hacked, the information of companies can be leaked throughout the server and can negatively impact companies’ reputation.
Key features of the study: • This report provides in-depth analysis of business spend management software market size (US$ Million), and Compound Annual Growth Rate (CAGR %) for the forecast period (2019– 2027), considering 2018 as the base year • It elucidates potential revenue opportunity across different segments and explains attractive investment proposition matrix for this market • This study also provides key insights about market drivers, restraints, opportunities, new product launches or approvals, regional outlook, and competitive strategy adopted by leading players • It profiles leading players in the global business spend management software market based on the following parameters – company overview, financial performance, product portfolio, geographical presence, business spend management software market capital, key developments, strategies, and future plans • Companies covered as part of this study include Advanced, Ariba, Inc. (SAP SE), Coupa Software Inc, GEP, Procurify, Sage Intacct, Inc. (The Sage Group PLC), Sievo, SutiSoft, Inc., TOUCHSTONE GROUP PLC, VA Tech Ventures Pvt Limited (Happay), and others
Insights from this report would allow marketers and management authorities of companies to make informed decision regarding future product launches, product upgrades, market expansion, and marketing tactics • The global business spend management software market report caters to various stakeholders in this industry including investors, suppliers, manufacturers, distributors, new entrants, and financial analysts • Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global business spend management software market. • Detailed Segmentation: • Global Business Spend Management Software Market, By Component: • Software/Platform • Services • Global Business Spend Management Software Market, By Enterprise Size: • SME’s • Large Enterprises
Global Business Spend Management Software Market, By Deployment Type: • On-Premises • SaaS • Global Business Spend Management Software Market, By Solution: • Contract & Tender Management • Procure-to-Pay Solutions • Travel & Expense Management • Supplier & Risk Management • Spend Management/Spend Analytics • Global Business Spend Management Software Market, By End-use Industry: • BFSI • Education • Energy & Utility • Healthcare • Hospitality • IT & Telecom • Manufacturing • Retail
By Country: • U.S. • Canada • Europe • By Component: • Software/Platform • Services • By Enterprise Size: • SMEs • Large Enterprises • By Deployment Type: • On-Premise • SaaS • By Solution: • Contract & Tender Management • Procure-to-Pay Solutions • Travel & Expense Management • Supplier & Risk Management • Spend Management/Spend Analytics • Global Business Spend Management Software Market, By Region: • North America • By Component: • Software/Platform • Services • By Enterprise Size: • SMEs • Large Enterprises • By Deployment Type: • On-Premise • SaaS • By Solution: • Contract & Tender Management • Procure-to-Pay Solutions • Travel & Expense Management • Supplier & Risk Management • Spend Management/Spend Analytics • By End-use Industry: • BFSI • Education • Energy & Utility • Healthcare • Hospitality • IT & Telecom • Manufacturing • Retail
By End-use Industry: • BFSI • Education • Energy & Utility • Healthcare • Hospitality • IT & Telecom • Manufacturing • Retail • By Country: • China • India • Japan • Australia & New Zealand • South Korea • Rest of Asia Pacific • Latin America • By Component: • Software/Platform • Services • By Enterprise Size: • SMEs • Large Enterprises • By Deployment Type: • On-Premise • SaaS • By Solution: • Contract & Tender Management • Procure-to-Pay Solutions • Travel & Expense Management • Supplier & Risk Management • Spend Management/Spend Analytics • By End-use Industry: • BFSI • Education • Energy & Utility • Healthcare • Hospitality • IT & Telecom • Manufacturing • Retail
By Country • Brazil • Mexico • Argentina • Rest of Latin America • Middle East & Africa • By Component: • Software/Platform • Services • By Enterprise Size: • SMEs • Large Enterprises • By Deployment Type: • On-Premise • SaaS • By Solution: • Contract & Tender Management • Procure-to-Pay Solutions • Travel & Expense Management • Supplier & Risk Management • Spend Management/Spend Analytics • By End-use Industry: • BFSI • Education • Energy & Utility • Healthcare • Hospitality • IT & Telecom • Manufacturing • Retail • By Country • GCC Countries • South Africa • Rest of Middle East & Africa
Company Profiles • Advanced * • Company Overview • Product Portfolio • Financial Performance • Key Strategies • Recent Developments/ Updates • Ariba, Inc. (SAP SE) • Coupa Software Inc • GEP • Procurify • Sage Intacct, Inc. (The Sage Group PLC) • Sievo, SutiSoft, Inc. • TOUCHSTONE GROUP PLC • VA Tech Ventures Pvt Limited (Happay) • Others • “*” marked represents similar segmentation in other categories in the respective section.
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