Vendor Management Software Market: Introduction
Nowadays, as the workforce evolves enterprises are striving to gain insights regarding the employee population and manage its blended workforce. Vendor management software is a web-based application to manage and procure staffing services as well as third party labour by performing initial registration, performance assessment, recording non-conformance, implementing corrective or preventative actions, and tracking results. It helps to track, streamline, and further optimize the overall process of managing contractors and several types of contingent labour.
Vendor management software enables enterprises to maintain all contractors, contracts and reviews in one place, as well as risk assessment, resource management and regulatory and auditory compliance. This software also helps organizations to enhance the overall quality of third-party relationships, which further helps to increase their long-term success.
Vendor Management Software Market: Drivers and Restraints
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Factors such as increasing need to minimize administrative costs and need to ensure compliance are the primary factors driving the growth of Vendor Management Software market. Moreover, cloud computing, rise in service sector, and increasing demand from SMEs are also the factor resulting into the growth of vendor management software market.
However, high implementation and maintenance costs is a factor causing a hindrance in the growth of vendor management software market.
Vendor Management Software Market: Segmentation
Vendor management software market can be segmented on the basis of deployment, end-user application and region wise. On the basis of deployment the market is further segmented into cloud-based and on-premise. On the basis of end-user application the market is further segmented into BFSI, retail, manufacturing, government, IT & Telecom and others. Region wise, vendor management software market can be segmented into North America, Latin America, Asia Pacific, Japan, Eastern Europe, Western Europe and Middle East & Africa.
Vendor Management Software Market: Regional Overview
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North America is largest contributor of vendor management software market due rise in demand for integrated vendor management solutions followed by Europe owing to adoption of emerging technologies. Asia Pacific contributes a significant market share in vendor management software market due growing adoption of software in various industries to enhance supply chain and customer service. Latin America and MEA region are expected to show a moderate growth rate in vendor management software market as enterprises are increasingly using mobile technology.
Vendor Management Software Market: Key Players
IBM Emptoris, Intelex Technologies, MasterControl, MetricStream, SAP Ariba, Zycus, ConnXus, Coupa Software, Wax Digital are some of the key players in Vendor Management Software market.
The report covers exhaustive analysis on: Vendor Management Software Market Segments Vendor Management Software Market Dynamics Historical Actual Market Size, 2012-2016 Vendor Management Software Market Size & Forecast 2017 to 2027 Supply & Demand Value Chain for Vendor Management Software Market Vendor Management Software Market Current Trends/Issues/Challenges Competition & Companies involved in Vendor Management Software Market Vendor Management Software Technology Value Chain of Vendor Management Software Market Vendor Management Software Market Drivers and Restraints
Regional analysis for Vendor Management Software market includes North America Vendor Management Software Market US Canada Latin America Vendor Management Software Market Argentina Mexico Brazil Rest of Latin America Western Europe Vendor Management Software Market Germany France U.K. Spain Italy Nordic Benelux Rest of Western Europe Eastern Europe Vendor Management Software Market Poland Russia Rest of Eastern Europe Asia Pacific Vendor Management Software Market Australia and New Zealand (A&NZ) China India ASEAN Rest of Asia Pacific Japan Vendor Management Software Market Middle-East and Africa Vendor Management Software Market GCC Countries North Africa South Africa Turkey Rest of MEA
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
Report Highlights: Detailed overview of parent market Changing market dynamics of the industry In-depth market segmentation Historical, current and projected market size in terms of volume and value Recent industry trends and developments Competitive landscape Strategies of key players and product offerings Potential and niche segments/regions exhibiting promising growth A neutral perspective towards market performance Must-have information for market players to sustain and enhance their market footprint
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