Source-to-Pay Outsourcing – Technavio Publishes Global Market Research Analysis
By Business Wire News
By Business Wire News
Technavio has published a new report on the global S2P outsourcing market,which is expected to grow at a CAGR of more than 14% from 2015-2019.
S2P outsourcingmarket segmentation including service, end-user and geography
Technavio’s report analyses the solutions and products offered by market vendors and presents a comprehensive breakdown in terms of market segmentation for different services, including source-to-contact and procure-to-pay outsourcing.
Additionally, analysts have segmented market projections by key geography, and also by end-users, focusing on manufacturing; CPG; software and IT; BFSI; energy and chemicals; and retail and hospitality.
“Many organizations are working with data analytics companies to gain insights into the supplier, market, and category of the procurement process, which helps them achieve cost reductions. Business intelligence and spend analytics are platforms that can help users manage risk and avoid unnecessary costs,” says Faisal Ghaus, Vice President of Technavio.
S2P outsourcing: Market scope and calculation of market size
This report covers the present scenario and the growth prospects for global S2P outsourcing market from 2015-2019. To calculate the market size, the report considers the revenue generated from S2P outsourcing contacts that comprise contracts of services pertaining to the source-to-contract (S2C) outsourcing and procure-to-pay (P2P) outsourcing markets.
Industry analysis includes:
- Key Vendors:
- Accenture plc
- Capgemini SA
- IBM Corp.
- Xchanging plc
- Market Growth Drivers:
- Increased mobility in procurement processes
- Incorporation of IT in procurement outsourcing process
- Market Challenges:
- Long implementation lead time
- Pressure on service supplier side
- Market Trends:
- Usage of supplier analytics and Big Data
- Upsurge of cloud services
View theglobal S2P outsourcing market report.
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