Supplier relationship management (SRM) software assists organizations to increase their market accessibility, enhance supplier risk management, and improve delivery.
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Organizations that form a long-term partnership with their suppliers witness improvements in terms of quality, innovation, cost of services, and delivery through this software.
Improving organizations access to market, greater return on procurement investment, and high quality of output through a supply chain drive the global supplier relationship management software market. However, rise in presence of open-source vendors and lack of cross-functional collaboration restrict this market growth.
The shift towards strategic sourcing and supplier management from procurement services is a major opportunity for market development.
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The global supplier relationship management software market is segmented on the basis of industry vertical and region. Industry verticals covered in this study include manufacturing, retail, wholesale/distribution, transportation & logistics, telecom, financial, and government.
Based on region, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
Key players operating in the global supplier relationship management software market are Ariba, Inc., JDA Software Group, Inc., Intelex Technologies Inc., Oracle, Epicor Software Corporation, Zycus Inc., NEOCASE SOFTWARE, Determine, Inc., DXC Technology Company, and Biznet Solutions.
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