Procurement Outsourcing Market 2019 – Emerging Growth, Competitive Intelligence and Tracking Report Forecasts to 2024

The Global Procurement Outsourcing market is valued at 2820 million USD in 2018 and is expected to reach 5500 million USD by the end of 2024, growing at a CAGR of 11.8% between 2019 and 2024.

The report represents the statistical data in the form of tables, charts, and info-graphics to assess the market, its growth and development, and market trends of Global Procurement Outsourcing during the projected period.
Procure to pay (purchase to pay or P2P) is the process of obtaining and managing the raw materials needed for manufacturing a product or providing a service. It involves the transactional flow of data that is sent to a supplier as well as the data that surrounds the fulfillment of the actual order and payment for the product or service, the transfer of specified key procurement activities relating to sourcing and supplier management to a third party
perhaps to reduce overall costs or maybe to tighten the company's focus on its core competencies. Procurement categorization and vendor management of indirect materials and services (commonly referred to as Indirect procurement) are typically the most popular outsourced activity.

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The research report focuses on the leading competitors of the Global Procurement Outsourcing and provides information such as the company overview, product portfolio, key developments production, and contact information. The report also analyses the current development trends and patterns, as well as the distribution and marketing channel.

Major players in the Global Procurement Outsourcing market are
• IBM
• Accenture
• GEP
• Infosys
• Capgemini
• Genpact
• TCS
• Xchanging
• WNS

Geographically, Procurement Outsourcing Market report studies the top producers and consumers, focuses on product capacity, production, value, consumption, market share and growth opportunity in these key regions, covering:
• North America (United States, Canada and Mexico)
• Europe (Germany, France, UK, Russia and Italy)
• Asia-Pacific (China, Japan, Korea, India and Southeast Asia)
• South America (Brazil, Argentina, Colombia)
• Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)

On the basis of product, Global Procurement Outsourcing report displays the production, revenue, price, and market share and growth rate of each type, primarily split into:
• Direct Procurement
• Indirect Procurement

On the basis of the end users/applications, Global Procurement Outsourcing report focuses on the status and outlook for major applications/end users, consumption (sales), market share and growth rate for each application, including:
• CPG and Retail
• BFSI Sector

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The scope of the Global Procurement Outsourcing Report

Cost reduction is the top priority for CPOs as they look to sustain business growth in a slowing market.

Demand for impactful procurement continues to run high, both in terms of managing cost as well as unleashing the potential of the supply market to differentiate business performance. However, the traditional constraints of manpower, expertise, and policy-driven process are inhibiting.
Cycle times need to be shorter, insight needs to be richer and more agile, and performance needs to be more transparent and efficient.

Whether it's cognitive analytics to redefine scenario analysis, crowdsourcing to improve reach and creativity, or mobile analytics to unlock real-time performance management, the potential for these digital solutions to transform the procurement value proposition is considerable. Digital solutions should be embraced by CPOs and harnessed to greatly improve the function's accuracy, a speed of execution, and relevance to the greatest business challenges.

The Global Procurement Outsourcing market is valued at 2820 million USD in 2018 and is expected to reach 5500 million USD by the end of 2024, growing at a CAGR of 11.8% between 2019 and 2024.

The Asia-Pacific will occupy more market share in the following years, especially in China, also fast-growing India and Southeast Asia regions.
North America, especially The United States, will still play an important role which cannot be ignored. Any changes from the United States might affect the development trend of Procurement Outsourcing.

Europe also plays important roles in the global market, with a market size of xx million USD in 2019 and will be xx million USD in 2024, with a CAGR of xx%.

This report studies the Procurement Outsourcing market status and outlook of Global and major regions, from angles of players, countries, product types and end industries; this report analyzes the top players in a global market and splits the Procurement Outsourcing market by product type and applications/end industries.

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