123ArticleOnline Logo
Welcome to 123ArticleOnline.com!
ALL >> Business >> View Article

Spend Analytics Market 

Profile Picture
By Author: Rupali Dagade
Total Articles: 155
Comment this article
Facebook ShareTwitter ShareGoogle+ ShareTwitter Share

Spend Analytics Market was around US$ 3.85 Bn in 2017 and is expected to grow at a CAGR of around 9.28% in the forecast period of 2018–2026.

Spend analysis or analytics refers to the process of collecting, categorizing as well as evaluating expenditure data, provided either by human or through any kind of software. The spend analytics is usually performed by companies to increase their profitability through identifying the wasteful spending along with flagging contracts which can be renegotiated at any point in time. There are three core areas of spend analytics that is taken care by the management which comprises of the visibility, analysis, and process.

Factors such as increasing need for supplier and market intelligence, predictive analytics for businesses, need to better manage internal compliance policies and external contracts, and growing demand for cloud computing technology are driving the global market. The challenges faced by the spend analytics market are issues in achieving consistency in business semantics and interpretations, data privacy and security concerns, and concerns about positive Return ...
... on Investment (RoI). Difficulty in migrating from legacy systems might restrain the market growth.

In the component segment, spend analytics software segment is expected to have the largest market share during the forecast period. The demand for spend analytics software is rising as organizations are looking for solutions to obey strict governance and compliance policies related to their accounts and spend data, increasing adoption of market intelligence by suppliers, and the necessity to keep company's expenditure to the minimum without affecting its operations.

Spend Analytics Market

The spend analytics market is segmented by component, application, analytics type, business function, deployment model, organization size, and region. Large enterprises are expected to dominate the spend analytics market with factors such as the widespread to manage various applications, such as governance and compliance management, and risk management form some of the major factors driving the overall growth. However, it is the small and medium-sized enterprises or SMEs that are expected to account for one of the highest growth because of easy availability and scalability of cloud-based deployments that help in saving a lot of extra costs for the company.

North America is estimated to hold the largest market size in 2018. Early adoption of new and emerging technologies together with the presence of major industry players, is expected to act as some of the chief factors driving the spend analytics market in North America as well as globally. The Asia Pacific (APAC) region will monitor one of the highest growth in with presence of a large number of SMEs forming a major contributing factor to drive the overall business growth.
The key players of spend analytics market include SAP SE (Germany), IBM Corporation (US), SAS Institute, Inc. (US), Oracle Corporation (US), and Coupa Software Inc. (US).

For More Information Visit: https://www.maximizemarketresearch.com/market-report/spend-analytics-market/12764/

Spend Analytics Market scope:-
Spend Analytics Market, By Component
• Software
• Services
o Professional
o Managed
Spend Analytics Market, By Application
• Financial Management
• Demand and Supply Forecasting
• Governance and Compliance Management
• Risk Management
• Others
Spend Analytics Market, By Analytics Type
• Predictive Analytics
• Descriptive Analytics
• Prescriptive Analytics
Spend Analytics Market, By Business Function
• Finance
• Marketing
• Information Technology (IT)
• Operations
Spend Analytics Market, By Deployment Model
• On-Premises
• Cloud
Spend Analytics Market, By Organization Size
• Small and Medium-Sized Enterprises
• Large Enterprises
Spend Analytics Market, By Geography
• North America
• Europe
• Asia-Pacific
• Middle East & Africa
• Latin America
Key Players operating in the Spend Analytics Market:
• SAP SE
• Zycus Inc.
• Proactis
• SAS Institute, Inc.
• Ivalua Inc.
• BravoSolution SPA
• Rosslyn Analytics, Ltd.
• Coupa Software Inc
• IBM Corporation
• Oracle Corporation
• JAGGAER
• Empronc Solutions Pvt. Ltd.
This Report Is Submitted By @Global Market Research Company
Customization of the report:
Maximize Market Research provides free personalized of reports as per your demand. This report can be personalized to meet your requirements. Get in touch with us and our sales team will guarantee provide you to get a report that suits your necessities.
About Maximize Market Research:
Maximize Market Research provides B2B and B2C research on 20,000 high growth emerging opportunities & technologies as well as threats to the companies across the Healthcare, Pharmaceuticals, Electronics & Communications, Internet of Things, Food and Beverages, Aerospace and Defense and other manufacturing sectors.
Contact Us:
Name: Lumawant Godage
Organization: MAXIMIZE MARKET RESEARCH
Email: sales@maximizemarketresearch.com
Contact: +91 9607365656

Total Views: 162Word Count: 683See All articles From Author

Add Comment

Business Articles

1. How To Choose The Right Franchise
Author: Sparkleminds

2. Things You Need To Know About Buying Wordpress Hosting
Author: jaysurya

3. What Do You Understand By Web Hosting For Sale?
Author: jaysurya

4. The Best Mass Gainers For Different Types Of Muscle Gains
Author: probilder

5. Can Nutrex Lipo 6 Black Natural And Nutrex Lipo6 Black Ultra Concentrate Help You Lose Weight?
Author: probilder

6. Buy Real And Cheap Youtube Views
Author: Daniel Jones

7. What Are The Characteristics Of Effective Communication?
Author: Charles

8. Company Set Up With Bank Account Can Help You Get A Bank Loan Easily!
Author: TBA Associate

9. Best Gel And Foam Cushions Deliver Great Comfort And Support!
Author: Kelvin Thomas

10. Combo X70 Impels Balaji Construction’s M-sand Journey In Omerga, Maharashtra
Author: cdeasia

11. How To Use Proof Alcohol For Sterilization?
Author: Andrew Winslow

12. What Are The Significance Of Poly(methyl Methacrylate) Microspheres?
Author: Alpha Nanotech

13. Acknowledge The Major Changes In Brc Food Issue 9
Author: john

14. Advantages Of Maverick 88 Heat Shield
Author: Slade Street Tactical

15. Remington 870 Heat Shield Magpul: Try Out For An Impressive Experience
Author: Slade Street Tactical

Login To Account
Login Email:
Password:
Forgot Password?
New User?
Sign Up Newsletter
Email Address: