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Allied Market Research

Procurement-as-a-Service (PaaS) Market by Service Type (Spend Analysis, Supplier Management, Contract Management, Process Management, Transaction Management, and Others), Organization Size (Small & Medium Enterprise, and Large Enterprise), and Industry Vertical (IT & Telecommunication, Healthcare, Manufacturing, BFSI, Retail and Consumer Goods, Energy & Utilities, and Others): Global Opportunity Analysis and Industry Forecast, 2020–2027

A09143
Pages: NA
Aug 2021 | 529 Views
 
Author(s) : NA
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COVID-19

Pandemic disrupted the entire world and affected many industries.

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Procurement-as-a-Service (PaaS) Market Insights:

Procurement-as-a-service is defined as a process of buying and managing strategic outsourcing of work and consultancy. It is process of obtaining materials, supplies, services, and contracts with the highest level of qualitative services. A large number of organizations rely on digital technology to carry out procurement and sourcing functions as well as track payments and purchases 

For most of the organizations, maintaining internal procurement expertise across all the areas of indirect and direct spend is costly and unnecessary. Adoption of Procurement-as-a service helps the organizations to eliminate the burden of establishing and maintaining the infrastructure for those categories that are not the core part of the business. In addition, Procurement-as-a-Service provides a rapid analysis of an organization’s spend, negotiate with suppliers, manage supplier implementations and provide best practices. Procurement-as-a service will act as an extension of the organization’s existing procurement resources, in a non-obtrusive fashion. Procurement-as-a service resolves number of problem by combining cloud-based technology with intelligently managed processes to manage vendors, enable e-sourcing, manage the contract lifecycle, analyze and report on spend, and review cost, and risks &  performance.

Procurement-as-a-Service (PaaS) Market Scope and Structure Analysis:

Report Matric

Details

  Market size available for years

  2019-2027

  Base year considered

  2019

  Forecast year period

  2020-2027

  Forecast units

  Value

  Segments covered

  • Component

 

  • Enterprise size

 

  • End user

 

  Regions covered

  • North America (U.S. , Canada )
  • Europe (UK, Germany, France, Spain, Italy, Rest Of Europe)
  • Asia-Pacific (China, India, Japan, South Korea, Australia, Rest of Asia-Pacific)
  • LAMEA (Latin America, Middle  East, and Africa)

  Companies covered

  • Accenture
  • Capgemini
  • Corbus, LLC.
  • Genpact Ltd.
  • CA Technologies
  • HCL Technologies
  • Infosys Ltd.
  • International Business Machines (IBM) Corporation
  • TATA Consultancy Services Limited
  • Wipro

 

 

 

Impact of COVID – 19 on Procurement-as-a-Service (PaaS) Market:

  • The emergence of COVID-19 pandemic has severely affected almost all the industries across the world. Further, lockdown enforcements and restrictions on movements of non-essential goods as well as resources in various countries has disrupted the supply chain of electronic components & networking equipment.
  • Most of the organization from across the world is able to see the disruptions in china were having a ripple effect on global trade flows and hence the companies had been working to make their supply chain leaner. 
  • COVID-19 has disrupted supply chains severely on a global scale. Business executives along with the procurement leaders have to maintain business operations, fulfill the urgent demands, and mitigate supplier challenges against a backdrop of significant disruption to their teams which is generating the growing need for the adoption of procurement-as-a-service.

Top Impacting Factors:

The procurement-as-a-service market is driven by various factors, such as growing need to handle compliance policies, and contracts, rise in demand among enterprises to streamline the procurement processes, growing awareness about the benefits of this service which includes greater process control, high efficiency, improved communication and organization, reduced cost and others. However, the integration issues with the legacy systems and factors such as risk migration, dark purchasing and inaccurate data are providing challenges to the market and expected to hinder the growth of the procurement-as-a-service market. Furthermore, ongoing integration of advanced technologies such as Artificial Intelligence (AI) and Machine Learning (ML) in the procurement process along with the growing adoption of analytics solutions to improve the procurement process are expected to provide lucrative opportunities for the market. 

Substantial Cost savings: 

With fast, powerful and small IT footprint, procurement-as-a-service save a lot of money for the organization with process improvements. In addition to this, Its adoption has also increased among the organizations to streamline manufacturing skills, production and on-time delivery to increase cost savings with the help of procurement outsourcing and technology.

Inaccurate Data 

Procurement-as-a-service decisions are completely based upon the data due to which the organizations need accurate as well as reliable data. Purchase based on inaccurate procurement data can lead to inventory shortages, excess inventory and other additional procurement challenges which may impact negatively on the growth of the market. 

Technology advancement with procurement-as-a-service: 

Growing integration of advanced technologies such as artificial intelligence, internet of things (IoT), and machine language combines with analytics to build platforms that use deep learning to identify as well as address issues related with fleet management and shipment tracking is providing numerous opportunities for the market

Key segments covered:         

Segments

Sub segments

                         

  Service Type

· Strategic Sourcing

· Spend Analysis

· Supplier Management

· Contract Management

· Process Management

· Transaction Management

· Others

  Organization Size

 

· Small and Medium Enterprise

· Large Enterprise

 

 

  Industry vertical

· IT & Telecommunication,

· Manufacturing

· BFSI

· Retail and Consumer Goods

· Energy and Utilities

· Healthcare

· Others

 

Key Benefits of this report: 

  • This report focuses on the key global procurement-as-a-service (PaaS) players, to define, describe and analyze the value, market share, market competition landscape, and development plans in next few years.
  • Complete analysis of procurement-as-a-service (PAAS) market with respect to individual growth trends, future prospects, and their contribution to the total market,
  • Provided detailed information about the key factors influencing the growth of the market (growth potential, opportunities, drivers, industry-specific challenges and risks).
  • Projecting the size of Procurement-as-a-Service (PaaS) submarkets, with respect to key regions (along with their respective key countries).
  • Analyzed competitive developments such as expansions, agreements, new product launches and acquisitions in the market.
  • Strategically profile the key players and comprehensively analyze their growth strategies.
 
With collective industry experience of about 200 years of its analysts and experts, Allied Market Research (AMR) encompasses most infallible research methodology for its market intelligence and industry analysis. We do not only engrave the deepest levels of markets but also sneak through its slimmest details for the purpose of our market estimates and forecasts. Our approach helps in building greater market consensus view for size, shape and industry trends within each industry segment. We carefully factor in industry trends and real developments for identifying key growth factors and future course of the market. Our research proceeds are the resultant of high quality data, expert views and analysis and high value independent opinions. Our research process is designed to deliver balanced view of the global markets and allow stakeholders to make informed decisions.

We offer our clients exhaustive research and analysis based on wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics and regional intelligence. Our in-house industry experts play instrumental role in designing analytic tools and models, tailored to the requirements of particular industry segment. These analytical tools and models sanitize the data & statistics and enhance the accuracy of our recommendations and advice. With AMR’s calibrated research process and 360` degree data-evaluation methodology, our clients are assured of receiving:

  • Consistent, valuable, robust and actionable data & analysis that can easily be referenced for strategic business planning
  • Technologically sophisticated and reliable insights through well audited and veracious research methodology
  • Sovereign research proceeds that present a tangible depiction of marketplace


With a strong methodology we are, therefore, confident that our research and analysis are most reliable and guarantees sound business planning.

Secondary research
We refer a broad array of industry sources for our secondary, which typically include; however, not limited to: Company SEC filings, annual reports, company websites, broker & financial reports and investor presentations for competitive scenario and shape of the industry

  • Patent and regulatory databases for understanding of technical & legal developments
  • Scientific and technical writings for product information and related preemptions
  • Regional government and statistical databases for macro analysis
  • Authentic new articles, web-casts and other related releases for market evaluation
  • Internal and external proprietary databases, key market indicators and relevant press releases for market estimates and forecast


Primary research
Our primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks and face-to-face interactions. We are also in professional corporate relations with various companies that allow us greater flexibility for reaching out industry participants and commentators for interviews and discussions, fulfilling following functions:

  • Validates and improves the data quality and strengthens research proceeds
  • Further develops analyst team’s market understanding and expertise
  • Supplies authentic information about market size, share, growth and forecasts


Our primary research interview and discussion panels are typically composed of most experienced industry members. These participants include; however, not limited to:

  • Chief executives and VPs of leading corporations specific to industry
  • Product and sales managers or country heads; channel partners and top level distributors; banking, investments and valuation experts Key opinion leaders (KOLs)


Analyst tools and models
AMR has developed set of analyst tools and data models to supplement and expedite the analysis process. Corresponding to markets, where there is significant lack of information and estimates, AMR’s team of experts and analyst develop specific analyst tools and industry models to translate qualitative and quantitative industry indicators into exact industry estimates. These models also allow analysts to examine the prospects and opportunities prevailing in the market to accurately forecast the course of the market.
 
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