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Title: Business Spend Management Software Market Analysis | CMI


1
  • Coherent Market Insights
  • Market Research and Business Consulting Services
  • https//www.coherentmarketinsights.com/
  • COVID-19 Impact Tracker

2
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 (SMEs, 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
  • Global business spend management software market
    is expected to exhibit growth rate of 11.2
    during the forecast period (20192027).

3
Market Drivers
  • The market growth is majorly attributed to
    increasing adoption of business spend management
    software by small and medium organizations for
    managing the organizational expenses. Moreover,
    the rising usage of SaaS-based business spend
    management software is boosting the market
    growth.
  • Additionally, the presence of large manufacturers
    such as Apple Inc, Dell, and service providers
    such as Amazon.com Inc., and Netflix are expected
    to boost demand for business spend management
    software in the region over the forecast period.

4
Market Restraints
  • Global Business Spend Management Software Market
    is facing data security concerns in cloud-based
    deployment. Cloud-based deployment solutions
    store highly sensitive data related to the
    organizations financial details, supplier or
    contractor details, and customer's information.
    In the case of security breach this would cause a
    huge loss to the organization.

5
Figure 1. Global Business Spend Management
Software Market Share (), by Region (2027)
6
Statistics
  • In 2018, North America was the dominant region in
    the business spend management software market,
    and it is expected to retain its dominance over
    the forecast period owing to presence of
    developed economies such as U.S. and Canada.
    Spend management software providers in the region
    are investing heavily in research and development
    activities, in order to enhance their software
    capabilities. For instance, in May 2018, Coupa
    Software Inc. launched a new product for business
    spend management. This new launch will increase
    the companys visibility in terms of
    organizational spending, operational processes,
    and performance.

7
Figure 2. Global Business Spend Management
Software Market Share (), By Solution (2027)
8
Market Segements
  • On the basis of solution, the procure-to-pay
    solutions segment holds the largest market share
    in the business spend management software market,
    and is expected to retain its dominance over the
    forecast period owing to increasing adoption for
    efficiently managing end-to-end business
    spending, for sourcing and requisitions to
    payments and invoicing. Moreover, this solution
    will provide full synchronization between
    accounting and procurement departments, which
    enable them to maintain transparency across
    strategic financial planning. These processes
    help them to manage a large amount of business
    spend datasets by eliminating off-contract and
    maverick buying.
  • These solutions can be integrated with multiple
    enterprise resource planning tools (ERP), which
    help enterprises to manage their suppliers,
    employees, and all other business needs through a
    single platform. Cloud-based procure-to-pay
    solutions are efficient, seamless, easy-to-use,
    and require minimal training.

9
Market Opportunities
  • Based on deployment type, SaaS segment is
    expected to exhibit the highest growth rate of
    11.7 over the forecast period, as it requires
    lower cost and less time for installation
    compared to on premise deployment option.
    Furthermore, organizations operating in various
    industries are adopting the SaaS-based deployment
    option, as this deployment option decreases the
    risk associated with cash flow oversight,
    increased productivity efficiency, and provides
    improved reporting and analytic capabilities. For
    instance, according to Coherent Market Insights
    analysis, in the year 2017, SaaS-based services
    generated revenue of US 59.35 Billion and is
    expected to increase to US 114.6 Billion, which
    shows a lucrative opportunity for business spend
    management market.

10
Competitive Section
  • Some of the major players operating in the global
    Business Spend Management Software market 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.

11
  • Request Sample Report
  • Request Customization
  • Download PDF Brochure
  • Talk to Analyst
  • Reference https//www.coherentmarketinsights.com
    /market-insight/business-spend-management-software
    -market-3118

12
About Us
  • Coherent Market Insights is a global market
    intelligence and consulting organization focused
    on assisting our plethora of clients achieve
    transformational growth by helping them make
    critical business decisions.
  • What we provide
  • Customized Market Research Services
  • Industry Analysis Services
  • Business Consulting Services
  • Market Intelligence Services
  • Long term Engagement Model
  • Country Specific Analysis

13
Contact Us
  • Mr. Shah
  • Coherent Market Insights Pvt.Ltd.
  • Address 1001 4th Ave, 3200 Seattle, WA 98154,
    U.S.
  • Phone 1-206-701-6702
  • Email sales_at_coherentmarketinsights.com

14
  • Thank You!
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    for the latest company updates
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  • https//www.coherentmarketinsights.com/
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