S2P Outsourcing- Market Scope
S2P outsourcing services provided procurement services include identifying and evaluating new suppler, purchasing, contract lifecycle management, supplier performance evaluation, spend analysis and account payable functions. There are 8 steps in S2P namely identify a need, create vendor shortlist, issue RFP, submit purchase order, goods delivery, and payment vender evaluation. These all steps can manage by software application. S2P outsourcing classified into two types such as S2C, P2P. Owing to increasing demand for s2p outsourcing to reduce overall cost in business, S2P outsourcing market is expected to grow at a significant rate during the forecast period.
Attributes | Details |
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Study Period | 2018-2028 |
Base Year | 2022 |
Unit | Value (USD Million) |
Key Companies Profiled | Capgemini (France), Infosys (India), HP (United States), Accenture (Ireland), Xchanging (United Kingdom), Tech Mahindra (India), ATS Group (India), IBM (United States), CGI (Canada), Aegis (United States), DSSI (United States), CSC (United States), Optimum Procurement, WNS (India), TCS (India), GEP (United States) and Wipro (India) |
CAGR | % |
S2P Outsourcing market is a fragmented market due to the presence of various players. The players are focusing on increasing their service capacity and are offering competitive prices to gain high market share and establish their position in the market. Further, companies are focusing on developing technological advanced products and solutions to improve quality, enhances and promotes performance. The companies are coming up with partnerships or agreements along with planning strategic activities such as partnerships, product launch, mergers, and acquisitions which will help them to sustain in the market and maintain their competitive edge
Capgemini (France), Infosys (India), HP (United States), Accenture (Ireland), Xchanging (United Kingdom), Tech Mahindra (India), ATS Group (India), IBM (United States), CGI (Canada), Aegis (United States), DSSI (United States), CSC (United States), Optimum Procurement, WNS (India), TCS (India), GEP (United States) and Wipro (India) are some of the key players that are part of study coverage.
About Approach
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from the total available market.
Segmentation Overview
The study have segmented the market of Global S2P Outsourcing- market by Type , by Application (Software and IT, Manufacturing, BFSI, Energy and Chemicals, CPG, Retail and Others) and Region with country level break-up.
On the basis of geography, the market of S2P Outsourcing- 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).
region held largest market share in the year 2022.
Market Leaders and their expansionary development strategies
In October 2021, Accenture, the global consulting firm acquired Xoomworks, a procurement consultancy and technology services providing firm from London. Their procurement services provide integration work and digital transformation of S2P areas and did some partnership with procurement technology services provider. This acquisition helped Accenture to strengthen its presence in S2P outsourcing market.
In March 2023, GEP provided their procurement and supply chain software to the medical technology company Siemens Healthineers. This software helped Siemens Healthineers to transform their indirect material source-to-pay process encompassing sourcing, spend analytics, suppler and inventory management and accounts payable for all indirect procurement in the U.S.
Influencing Trend:
Increasing Demand of Big Data Analytics in S2P Outsourcing Services
Market Growth Drivers:
Increasing Demand for S2P Outsourcing to Reduce Overall Cost in Business
Challenges:
Lack of Compliance and Poor Collaboration between User and Manufacturer
Restraints:
Increasing Risk of Data Protection and Confidentiality of Data
Opportunities:
Increasing Technical Advancement in S2P Outsourcing Software Such as AI and RPA.
Key Target Audience
S2P Outsourcing Provider, Government Bodies, Regulatory Bodies, Potential Investors, Research and Development Institutes, End Users and Others