TechNavio today launched its report Global Automated Spend Analysis Solutions Market 2011“2015 based on an in-depth study covering the Americas, and the EMEA and APAC regions. The report aims to aid decision makers™ understanding of the significant trends impacting this market.
Commenting on the report, an analyst from TechNavio™s Enterprise Applications team said, Automated spend analysis solutions have evolved as an essential software application for helping organizations identify sourcing opportunities and to track compliance of purchasing with sourcing policies. Currently, organizations are adopting these solutions to uncover the benefits where the probable waste can be eliminated. These solutions enable organizations to report on aggregated spend categories and identify supplier/product consolidation opportunities. It also helps companies to source high-quality parts at low cost and to reduce the sourcing cycle time significantly.
According to the report, in today’s challenging business environment, many companies are experiencing a decrease in their sales or flat sales. This has necessitated them to manage their costs to tackle the condition. An automated spend analysis solution enables an organization to combine spend data and influence the purchasing power of the entire organization across multiple systems and businesses.
Further, the report also discusses that the lack of appropriate IT infrastructure to automate spend analysis processes is one of the major challenges confronting this market.
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 players.
TechNavio, the market research platform of Infiniti Research Ltd, publishes periodic reports on niche and emerging technologies. For further information, please visit https://www.technavio.com/content/global-automated-spend-analysis-solutions-m…
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TechNavio Announces the Publication of its Report “ Global Automated Spend Analysis Solutions Market 2011“2015
