What is Vendor Management System Market?
Vendor management system is an application which is internet enabled and web based. It provides the mechanism to procure staffing services for temporary as well as permanent and outside contract or contingent labor. Vendor management system includes staff ordering processes, automated billing, management reporting, business intelligent functionality, workflow engines, tracking facilities and others. The installed vendor management system creates a centralized internet based environment that allows the purchaser to staff resource requirement.
Highlights from Vendor Management System Market Study
Attributes | Details |
---|
Study Period | 2017-2027 |
Base Year | 2021 |
Unit | Value (USD Million) |
Key Companies Profiled | SAP SE (Germany), Microsoft Corporation (United States), Oracle Corporation (United States), Deloitte (United Kingdom), Cognizant Technology Solutions (United States), Zoho (India), Tipalti Solutions Ltd. (United States), Aruvio, Inc. (United States), Bravo Solution SPA (Italy) and Determine Inc. (United States) |
Research Analyst at AMA predicts that United States Players will contribute to the maximum growth of Global Vendor Management System market throughout the forecasted period.
SAP SE (Germany), Microsoft Corporation (United States), Oracle Corporation (United States), Deloitte (United Kingdom), Cognizant Technology Solutions (United States), Zoho (India), Tipalti Solutions Ltd. (United States), Aruvio, Inc. (United States), Bravo Solution SPA (Italy) and Determine Inc. (United States) are some of the key players profiled in the study. Additionally, the Players which are also part of the research are Technology and Business Integrators, Inc. (United States), Cobble Stone Systems Corp. (United States), Contractpedia (Denmark) and SupplierSoft Inc. (United States). Vendor Management System Market Segmentation:
Scope | Sub-Segments |
---|
Services | Vendor relationship management,Service delivery management,Vendor performance management services,Sourcing analytics,Vendor procurement |
Industry Vertical | IT and telecommunication industry,Business,Financial services and insurance (BFSI) industry,Retail industry,Manufacturing industries,Others |
Organization size | SMEs,Large Enterprises |
Deployment | On premise,Cloud |
Features | Staff ordering processes,Automated billing,Management reporting,Business Intelligent (BI) functionality,Workflow engines,Service catalogue,Tracking facilities,Approval processes |
On the basis of geography, the market of Vendor Management System has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Increasing Demand for Automation of Sourcing and Management Process and Technological Advancements in Vendor Management
Market Growth Drivers:
Increasing Need for Better Management for Internal Compliance and Bimodal Sourcing and New Outsourcing Pricing Model is Fueling the Market Growth
Challenges:
Management of Manual Activities and Supplier Evaluation
Restraints:
Design Complexity and Time Required for Development is Hampering the Market
Opportunities:
Increasing Demand for Vendor Sourcing and Management Software and Centralization of Vendor Procurement Process is Boosting the Market
Key Target Audience
Vendor management system provider, Government associations, Research organizations, Enterprise software vendors and Others
Market Leaders & Development Strategies
In 2018, SAP has acquired Contextor which is involved in design and integration of robotic process automation. and In 2018, Sap has also acquired Qualtrics which is a technology platform which is used to collect manage and act on experience data called X-data.