Procurement software tools allow companies to automate various procurement tasks and procure the best rates from vendors for the tender, making it vital for companies that need to procure large volume of goods. With implementation of such software solutions, companies can join forces with suppliers, get alerts, track events and analyze the business intelligence data to gain visions into procurement process for the forecasting and planning purpose.
The growth of procurement software market is accredited to increasing demand for centralized procurement processes as well as consolidation of supply chain management (SCM). Moreover, market seeks opportunities owing to growth in various mobile procurement applications.
Segment Overview
The major factor which is driving procurement software market is consolidation of SCM (supply chain management) process that helps in reducing overall complexity of process. The other important factors that will affect procurement software market in positive way is growing need to automate procurement processes, the materialization of e-procurement technology will open up new prospects for market growth in coming years. Quality control will suffer owing to automation of procurement process thus hindering the growth of procurement software market. Other factors that will affect growth of the procurement software market undesirably is its complex procedure and one needs to have extensive training in order to operate it.
Regional Overview
Region-wise, global procurement software market is expanded into Asia Pacific, North America, Eastern Europe, Middle East and Africa. North America is region that has the largest market globally for procurement software market. The presence of market players that are involved in providing the services of procurement software market for instance Oracle, Google, IBM are located in the North America. Asia Pacific region is having a good share in global procurement software market. In developing countries such as China and India from the Asia Pacific region have not shown interest in adopting services that are provided by procurement software. The key reason for the disinterest is lack of industry experts and shortage of skilled specialists. There are other regions that have not accepted this software which is due to insufficient knowledge of the software and therefore maximum advantage of the software is not made.
Competitor overview
Procurement software helps the users integrate business processes and also to improve the overall value of the businesses. It facilitates transparency in the financial supply chains and also contract details for producing invoices to the complete payments. Sellers are offering software solutions that help establishments to automate the procurement activities which in turn upsurge the demand for the products in the global market. Such activities include automation of the invoice management systems, order management process, electronic requisitioning process, and other procurement related activities.
Key Players Procurement software Market
- IBM Corporation
- Oracle Corporation
- SAP SE
- Coupa Software Incorporated
- Infor Inc.
- Epicor Software Corporation
- Zycus Inc.
- JDA Software Inc.
- Mercateo AG
Market Segmentation
Procurement software Market By Deployment
- On-Cloud
- On-Premise
- Spend Analysis
- E-Sourcing
- E-Procurement
- Contract Management
- Supplier Management
- Others
- Retail, Automotive
- Travel & Logistics
- Electronics
- IT & Telecommunication
- Mining
- Others
- North America
- US
- Canada
- Europe
- UK
- Germany
- France
- Italy
- Spain
- Rest of Europe
- Asia-Pacific
- Japan
- China
- India
- Australia
- South Korea
- Rest of Asia-Pacific
- LAMEA
- Brazil
- Saudi Arabia
- UAE
- Rest of LAMEA
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Data Library Research are conducted by industry experts who offer insight on industry structure, market segmentations technology assessment and competitive landscape (CL), and penetration, as well as on emerging trends. Their analysis is based on primary interviews (~ 80%) and secondary research (~ 20%) as well as years of professional expertise in their respective industries. Adding to this, by analysing historical trends and current market positions, our analysts predict where the market will be headed for the next five years. Furthermore, the varying trends of segment & categories geographically presented are also studied and the estimated based on the primary & secondary research.
In this particular report from the supply side Data Library Research has conducted primary surveys (interviews) with the key level executives (VP, CEO’s, Marketing Director, Business Development Manager and SOFT) of the companies that active & prominent as well as the midsized organization
FIGURE 1: DLR RESEARH PROCESS
Extensive primary research was conducted to gain a deeper insight of the market and industry performance. The analysis is based on both primary and secondary research as well as years of professional expertise in the respective industries.
In addition to analysing current and historical trends, our analysts predict where the market is headed over the next five years.
It varies by segment for these categories geographically presented in the list of market tables. Speaking about this particular report we have conducted primary surveys (interviews) with the key level executives (VP, CEO’s, Marketing Director, Business Development Manager and many more) of the major players active in the market.
Secondary ResearchSecondary research was mainly used to collect and identify information useful for the extensive, technical, market-oriented, and Friend’s study of the Global Extra Neutral Alcohol. It was also used to obtain key information about major players, market classification and segmentation according to the industry trends, geographical markets, and developments related to the market and technology perspectives. For this study, analysts have gathered information from various credible sources, such as annual reports, sec filings, journals, white papers, SOFT presentations, and company web sites.
Market Size EstimationBoth, top-down and bottom-up approaches were used to estimate and validate the size of the Global market and to estimate the size of various other dependent submarkets in the overall Extra Neutral Alcohol. The key players in the market were identified through secondary research and their market contributions in the respective geographies were determined through primary and secondary research.
Forecast Model
