The procurement process has enabled enterprises to use procurement integrity management solutions such as generating purchase indents and seeking approval from managers. In addition, creating purchase orders and reflecting financial transactions under appropriate accounting heads are some of the processes which are now easily tracked through procurement integrity management solutions. These solutions are used in monitoring of procurement data and systems. Moreover, procurement integrity management solutions help in identifying and tracking procurement fraud, monitoring staff and supplier activities, spot-early warning signs, and investigate processes in detail with advanced tools.

Transportation and logistics industry is an essential part of an organization which deals in the movement of goods and freight. Procurement integrity management solutions help in distinguishing between high-risk and low-risk procurement activities. Moreover, the solutions are powered by unique detection algorithms which automatically detect the lowest cost and minimum distance for transporting the goods. Procurement integrity management solutions involve many processes. Procurement is the process of finding and agreeing to terms, and acquiring goods, services, or works from an external source, often via a tendering or competitive bidding process. Procurement integrity management solutions solve the problem of doing things manually. With the help of procurement software, enterprises can track the movement of goods and services and ensure that the buyer gets the best possible products. Procurement integrity management solutions consider all aspects such as quality, quantity, time, and location, and reduces plant schedule, improves risk management, and enables remote access of data. In addition, it manages subcontracts, lowers the total project and installation costs and eliminates material shortages and surpluses. Procurement integrity management solutions provide visibility in the process, thus improving spending and budgets. Today, cloud based technology such as Software as a Service (SaaS) and Platform as a Service (PaaS) is commonly used by procurement integrity management solution providers. Moreover, cloud based procurement integrity management solutions are expected to benefit supply chain and logistics department.

The major market driver for the procurement integrity management solutions market is increasing demand for automatic purchase processes, natural calamities, and the cost involved in the procurement process. Moreover, procurement frauds, increasing number of intermediaries, and restrict rules & regulations imposed by government are also increasing the need for procurement integrity management solutions.

Development of advanced technologies such as Blockchain, machine learning, and artificial intelligence is anticipated to boost the procurement integrity management solutions market. Additional capabilities of procurement integrity management solutions such as providing goods or services as per precise quality, quantity, source, time, and price are expected to lead to prominent opportunities. However, factors such as high implementation cost, rising financial challenges, and lack of knowledge about procurement integrity management solutions are likely to restrain the procurement integrity management solutions market over the forecast period.

The procurement integrity management solutions market can be segmented in terms of deployment, type, enterprise size, industry, and geography. On the basis of deployment, the procurement integrity management solutions market can be bifurcated into on-premise and cloud based. In terms of type, the procurement integrity management solutions market can be segmented into e-sourcing-procurement, contract management, and supplier management. Based on enterprise size, the market can be classified into small & medium enterprises and large enterprises. In terms of industry, the market can be segregated into retail, automotive, travel & logistics, IT & telecommunication, mining, and others. Based on geography, the procurement integrity management solutions market can be divided into North America, South America, Europe, Asia Pacific, and Middle East & Africa.

Some of the key players operating in the procurement integrity management solutions market are SAP SE, SAS Institute Inc, NECS, Inc. Oracle, IBM Corporation, Epicor Software Corporation, JDA Software Group, Inc., SciQuest Inc., Zycus Inc., Market Dojo Ltd, Mercateo AG, and Applegate Marketplace Ltd.

The report offers a comprehensive evaluation of the market. It does so via in-depth qualitative insights, historical data, and verifiable projections about market size. The projections featured in the report have been derived using proven research methodologies and assumptions. By doing so, the research report serves as a repository of analysis and information for every facet of the market, including but not limited to: Regional markets, technology, types, and applications.

The study is a source of reliable data on:

  • Market segments and sub-segments
  • Market trends and dynamics
  • Supply and demand
  • Market size
  • Current trends/opportunities/challenges
  • Competitive landscape
  • Technological breakthroughs
  • Value chain and stakeholder analysis

The regional analysis covers:

  • North America (U.S. and Canada)
  • Latin America (Mexico, Brazil, Peru, Chile, and others)
  • Western Europe (Germany, U.K., France, Spain, Italy, Nordic countries, Belgium, Netherlands, and Luxembourg)
  • Eastern Europe (Poland and Russia)
  • Asia Pacific (China, India, Japan, ASEAN, Australia, and New Zealand)
  • Middle East and Africa (GCC, Southern Africa, and North Africa)

The report has been compiled through extensive primary research (through interviews, surveys, and observations of seasoned analysts) and secondary research (which entails reputable paid sources, trade journals, and industry body databases). The report also features a complete qualitative and quantitative assessment by analyzing data gathered from industry analysts and market participants across key points in the industry’s value chain.

A separate analysis of prevailing trends in the parent market, macro- and micro-economic indicators, and regulations and mandates is included under the purview of the study. By doing so, the report projects the attractiveness of each major segment over the forecast period.

Highlights of the report:

  • A complete backdrop analysis, which includes an assessment of the parent market
  • Important changes in market dynamics
  • Market segmentation up to the second or third level
  • Historical, current, and projected size of the market from the standpoint of both value and volume
  • Reporting and evaluation of recent industry developments
  • Market shares and strategies of key players
  • Emerging niche segments and regional markets
  • An objective assessment of the trajectory of the market
  • Recommendations to companies for strengthening their foothold in the market   

Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.

This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.

Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:

  • Customer Experience Maps
  • Insights and Tools based on data-driven research
  • Actionable Results to meet all the business priorities
  • Strategic Frameworks to boost the growth journey

The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.

The following regional segments are covered comprehensively:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.

Below is a snapshot of these quadrants.

1. Customer Experience Map

The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.

2. Insights and Tools

The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.

3. Actionable Results

The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.

4. Strategic Frameworks

The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.

The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:

1. What can be the best investment choices for venturing into new product and service lines?

2. What value propositions should businesses aim at while making new research and development funding?

3. Which regulations will be most helpful for stakeholders to boost their supply chain network?

4. Which regions might see the demand maturing in certain segments in near future?

5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?

6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?

7. Which government regulations might challenge the status of key regional markets?

8. How will the emerging political and economic scenario affect opportunities in key growth areas?

9. What are some of the value-grab opportunities in various segments?

10. What will be the barrier to entry for new players in the market?

Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.

Custom Market Research Services

TMR offers custom market research services that help clients to get information on their business scenario required where syndicated solutions are not enough.


Procurement Integrity Management Solutions Market

Pre Book