Some Insights on Global Automated Spend Analysis Solutions Market from the Report by TechNavio

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We are proud to inform all our blog readers that in a recent analyst report by TechNavio on ‘The Global Automated Spend Analysis Solutions Market 2014-2018’, Zycus has been stated as a dominant player in the Spend Analysis Solution Market for the coming quadrant.

TechNavio is a leading technology research and advisory company with a global coverage. It strives to help its customers make better decisions by identifying and explaining emerging technology trends. TechNavio was founded in 2003 and currently has around 200 analysts globally. They cover more than 500 technologies across 80 countries and develop over 2000 pieces of research deliverables every year.

Evolution of Spend Analysis

The current report on ‘The Global Automated Spend Analysis Solutions Market 2014-2018’ explores the Global Automated Spend Analysis Solutions market landscape and its evolution in the years to follow.  As per the report, the Global Automated Spend Analysis Solutions market is expected to grow at a CAGR of 13.64 percent over the period 2013-2018. One of the important factors contributing to the market growth is the growing need for expenditure visibility for making smart and informed decisions. Automated spend analysis helps in centralizing the spend process, providing better visibility and control over the spending to gain operational intelligence, provides real-time insight into procurement, sourcing, and supply of chain information so that organizations can operate faster, more efficiently, and more competitively. The report re-instates the fact that without the visibility of spend-related data, it is extremely difficult to ensure that suppliers are providing correct pricing, rebates, and volume discounts.

Moreover, the report states that one of the major challenges in the spend analysis solutions market is the presence of diverse data sources in enterprises. In several large businesses, spend data originate through different people, business divisions, locations, and languages. Also, the data are dispersed across multiple incompatible systems. Furthermore, these data are often inadequate, with the absence of specific parts or attributes essential to identify various savings opportunities and can pose a serious challenge to the growth of the market

Some of the Key questions that have been answered in this report are:

  • What will the market size be in 2018 and what will the growth rate be?
  • What are the key market trends?
  • What is driving this market?
  • What are the challenges to market growth?
  • Who are the key vendors in this market space?
  • What are the market opportunities and threats faced by the key vendors?
  • What are the strengths and weaknesses of the key vendors?

The next report to be featured would be The Pulse of Procurement 2014 Report that is due to be released in March. Stay tuned for more insights…

Disclaimer:
TechNavio does not endorse any vendor, product or service depicted in its research publications, and does not advise technology users to select only those vendors with the highest ratings or other designation. TechNavio research publications consist of the opinions of TechNavio’s research organization and should not be construed as statements of fact. TechNavio disclaims all warranties, expressed or implied, with respect to this research, including any warranties of merchantability or fitness for a particular purpose.

 

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