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Vendor management software market growing at 12.63% CAGR by 2021 published by leading research firm

IT Market Research

Vendor Management Software Market a new research document covering detailed analysis, Competitive landscape, forecast and strategies. The study covers geographic analysis that includes regions like Americas, APAC, EMEA and important players/vendors such as IBM Emptoris, Intelex Technologies, MasterControl, MetricStream, and SAP Ariba. The report will help user gain market insights, future trends and growth prospects for forecast period of 2017-2021.

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Vendor Management Software Market 2017-2021, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years.

The report also includes a discussion of the key vendors operating in this market.

Complete report on the Vendor Management Software Market Research Report spread across 83 pages, profiling 27 companies with table of content is now available at…aspx?name=1150479 .

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Other Prominent Vendors in the market are: Adjuno, ConnXus, Coupa Software, Determine, Deskera, eBid Systems, eSellerHub, 360factors, Freshdesk, GEP, HICX Solutions, Ivalua, JAGGAER, LogicManager, PROACTIS, Quantivate, SalesWarp, SUPERNAL SOFTWARE, TraceGains, Wax Digital, Wise Retail, and Zycus.

One trend in the market is rise in demand for integrated vendor management solutions. End-users prefer vendors that provide integrated and converged software suites as opting for different software may lead to integration issues.

Integrated products and software suites from the same vendor have better integration ability and support other functions. As increased complexity of network infrastructure has made integration an important buying criterion, solutions with better integration are finding higher adoption.

According to the report, one driver in the market is increased adoption of cloud-based vendor management software. Cloud computing enable enterprises to use the software on a pay-per-use basis, which makes it cost-effective.

Some of the factors responsible for the adoption of cloud-based vendor management software are easier and faster implementation of IT solutions, less dependency on in-house IT personnel, limited requirements for hardware infrastructure, low maintenance costs, and no licensing costs. These solutions enable businesses to focus on developing their core competencies.

The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors.

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Further, the report states that one challenge in the market is high implementation and maintenance costs. The high cost of deploying the on-premises vendor management software is one of the major challenges in the market for the SMEs.

The price of the vendor management software includes the system design and customization cost, implementation cost, training, and maintenance cost. The implementation of the software in an organization requires IT staff with the relevant skill set.

The implementation of the vendor management software requires planning, adequate funding, self-assessment, cooperation, and clear vision at all managerial levels.

The report covers the present scenario and the growth prospects of the global vendor management software market for 2017-2021. To calculate the market size, the report considers revenue generated from the sale of vendor management software license, maintenance and support, installation, customization, and training.

Vendor management is also known as supplier management. Vendor management software performs initial registration, ongoing performance assessment, recording non-conformance, implementing corrective or preventative actions, and tracking results.

Vendor management software enables organizations to control costs, drive service excellence, and mitigate risks to gain increased value from vendors. Vendor management software helps companies to coordinate the entire vendor relationship from acquiring a vendor through the delivery of goods and services to issuing of paychecks and all the other functions in between.

Key questions answered in this report

What will the market size be in 2021 and what will the growth rate be?           

What are the key market trends?                                               

What is driving this industry?                                  

What are the challenges to market growth?

Who are the key vendors in this industry space?       

What are the market opportunities and threats faced by the key vendors?

What are the strengths and weaknesses of the key vendors?

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