Press release
Procurement as-a-Service Market Growth Scenario with 6.4% of CAGR by 2027 - Corbus, Genpact, GEP, HCL Technologies, IBM Corporation
Procurement as-a-service offerings support the end-users to select the categories for sourcing and allocate category experts to manage purchasing for those categories. These services rely on technology to do the sourcing and procurement, tracking payments and purchases and also handle three-way matching to make sure that the users are only paying for what they get. Several procurements as-a-service providers make the entire process visible to the enterprises they work with, usually through the reporting portals. Through this portal the users get the access to analytics and the procurement tool so that they can work on their own reports, record their inventory, and upload payments. Procurement as-a-service is similar to SaaS (software as a service), but manages procurement services.Thus, selecting comprehensive procurement platform that is developed with various technology solutions to offer users with category management, supplier management, and more will ensure that user’s organization with efficient performance as well as substantial cost savings.Procurement as-a-service is an outsourced procurement business model that combines staff, technology, and expertise to manage a portion, or complete, of user’s organization’s procurement functions. Technology supports the service providers to examine what their customers are spending money on, and where they are likely to find potential savings.
Get Sample Brochure at https://www.theinsightpartners.com/sample/TIPRE00005963?utm_source=OpenPR&utm_medium=10051
According to the latest market study on “Procurement as-a-Service Market Forecast to 2027 –COVID-19 Impact and Global Analysis by Component (Strategic Sourcing, Spend Management, Category Management, Process Management, Contract Management, Transaction Management); Enterprise Size (SMEs, Large Enterprises); End-User Industry (IT and Telecom, Consumer Goods and Retail, Manufacturing, Energy and Utility, Healthcare, Hospitality and Tourism, Others); and Geography,”the market is estimated to reach US$ 4,741.1 million by 2027 from US$ 3,137.7million in 2019. The report highlights the factors driving and restraining the market growth, as well as enumerates prominent players in the market with their recent developments.
Strategic Insights
Product developmentis the commonly adopted strategyby companies to expand their product portfolio. Accenture, Infosys Ltd., CAPGEMINI SE, and IBM Corporationare among the market players implementing this strategyto enlarge the customer base and gain significant market share globally, which in turn permits themto maintain their brand name in the global procurement as-a-service market.
The global procurement as-a-service market is anticipated to witness impressive growth during the forecast period. The increasing demand from enterprises to streamline the procurement processes and positive impact of BPO evolution on procurement outsourcing are the major driving factors for the global procurement as-a-service market. Additionally, significant technological development initiatives by several leading companies are also expected to drive the demand during the forecast period.
Top Listed Players are -
Accenture, CAPGEMINI SE, Corbus, LLC, Genpact Ltd, GEP, HCL Technologies, IBM Corporation, Infosys Ltd, Wipro Limited, and WNS (Holdings) Limitedare some of the players present in the Procurement as-a-Service market.
Buy Complete Report at https://www.theinsightpartners.com/buy/TIPRE00005963?utm_source=OpenPR&utm_medium=10051
The Insight Partners
533, 5th Floor,
Amanora Chambers, East Block, Amanora Township,
Kharadi Road, Hadapsar, Pune-411028
Email :sales@theinsightpartners.com
Phone : +1-646-491-9876
About Us:
The Insight Partners is a one stop industry research provider of actionable intelligence. We help our clients in getting solutions to their research requirements through our syndicated and consulting research services. We specialize in industries such as Semiconductor and Electronics, Aerospace and Defense, Automotive and Transportation, Biotechnology, Healthcare IT, Manufacturing and Construction, Medical Device, Technology, Media and Telecommunications, Chemicals and Materials.
This release was published on openPR.
Permanent link to this press release:
Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.
You can edit or delete your press release Procurement as-a-Service Market Growth Scenario with 6.4% of CAGR by 2027 - Corbus, Genpact, GEP, HCL Technologies, IBM Corporation here
News-ID: 2133453 • Views: …
More Releases from The Insight Partners
Insect Pest Control - Obtain PDF Sample Copy
The Insect Pest Control Market size is projected to reach US$ 14.85 billion by 2031 from US$ 21.33 billion in 2024. The market is expected to register a CAGR of 5.4% during 2025-2031. The proactive health measures, combined with heightened consumer awareness about disease prevention, have boosted the demand for both professional pest control services and DIY products. The convergence of public health policies, regulatory vigilance, and increased risk perception…
Denim Fabrics - Obtain PDF Sample Copy
The denim fabrics market size is projected to reach US$ 28.69 billion by 2031 from US$ 22.32 billion in 2024. The market is expected to register a CAGR of 3.8% during 2025-2031. The denim fabrics market is growing steadily owing to changing consumer preferences, fashion trends, and increasing accessibility. Denim has evolved from being a utilitarian fabric to a mainstream fashion item, appreciated for its flexibility, comfort, and ease. With…
Photomedicine Devices and Technologies Market Global Rising Demand & Huge Scope …
A new market study report by The Insight Partners on the Photomedicine Devices and Technologies Market has been released with reliable information and accurate forecasts for a better understanding of the current and future market scenarios. The report offers an in-depth analysis of the global market, including qualitative and quantitative insights, historical data, and estimated projections about the market size and share in the forecast period.
Get PDF Sample…
Genetic Testing Services Market Global Rising Demand & Huge Scope Till 2031
Genetic Testing Services Market business research report assesses the current as well as upcoming performance of the market, also brand-new trends in the market. It provides product overview and highlights of product and application segments of the market including price, revenue, sales, sales growth rate, and market share by product. The market statistics within the report is displayed in a statistical format to offer a better understanding upon the market…
More Releases for Procurement
Procurement Research Service Companies, Procurement Supplier Insights, Procureme …
Procurement Research Services to Cut Cost & Reduce Risk
Procurement research is the backbone of smarter sourcing. It is not just about comparing supplier prices-it's about making data-driven decisions that cut costs, reduce risk, and strengthen supplier relationships.
At TraceData, our top procurement research services provide actionable intelligence that transforms procurement into a growth driver. Here is what it covers:
• Cost structure analysis: Break down materials, labour, and margin costs to identify negotiation…
Aftermarket Tire Market 2022 Procurement Outlook, Procurement Intelligence, Supp …
Astute Analytica has released new research on the worldwide Aftermarket Tire Market that provides a thorough explanation of a number of market analysis techniques, including SWOT analysis and five-point analysis. The market report also includes an in-depth analysis of several growth plans and initiatives to broaden the business's horizons on a regional and international scale. It gives readers a thorough explanation of all the market difficulties and development prospects related…
Philippines Petroleum Market 2022 Procurement Outlook, Procurement Intelligence, …
Astute Analytica published a new report titled, Global Philippines Petroleum Market Analysis, Trends, Drivers and Growth Forecast to 2027.
The Global Philippines Petroleum Market size will grow from US$ 13317.2 million in 2021 to US$ 17,292.1 million by 2027. The Global Philippines Petroleum Market will record a tremendous compound annual growth rate (CAGR) of 4.4% during the forecast period 2022 to 2027.
The research provides in-depth details on the major…
Automotive Paint Market 2022 Procurement Outlook, Procurement Intelligence, Supp …
Astute Analytica published a new report on the global Automotive paint market. The global market report has extensive information about the market size, drivers, threats, opportunities, and growth factors. In addition, the research report contains COVID-19 impact, regional insight, competitors' analysis, and segmentation.
Astute Analytica's report on the global Automotive Paint Market foresees exponential growth in terms of revenue and growth rate. The Automotive Paint Market is projected to grow from…
New procurement painkiller released at Digital Procurement World 2019
Amsterdam, NETHERLANDS. (September 19, 2019) - Today on the first day of Digital Procurement World Conference, a long-awaited procurement transformation software ProcurementFlow.com is publicly released.
“When talking about digital procurement transformation, startups ought to be part of the conversation. I’m happy that this event is the global epicenter of procurement industry know-how and innovation launchpad” said Matthias Gutzmann, organiser of DPW 2019 Conference.
Procurement strikes back
“Procurement is often regarded as only…
Procurement Goes Digital
POOL4TOOL will hold the first Digital Procurement Day in Vienna
Vienna | Munich | Stuttgart, February 10, 2017 - POOL4TOOL is holding the first Digital Procurement Day on March 30, 2017, in Vienna. In talks, discussions and presentations, participants from the worlds of Procurement and Logistics will learn how they can use the positive effects of digitization to benefit their own companies. They will be joined by experts from KPMG, riskmethods…
