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Supplier relationship management software is designed to efficiently manage and automate procurement processes in order to enhance productivity and avoid maverick purchasing. Supplier relationship management software has the capability to improve supplier risk management, increase market accessibility, and improve delivery. It also helps in building strong buyer-supplier relationships. It is primarily used by supply chain professionals engaged in different fields such as project management, procurement management, and operations where these specialists regularly deal with suppliers.

With different businesses using different processes and even terminology, supplier relationship management software can be exceptionally valuable to guarantee ideal productivity in acquiring goods and services, handling materials, and managing inventory. Supplier relationship management software usually consists of features such as email tracking, document sharing and contact gathering for streamlined supplier contact and communication. Supplier relationship management software also deals with suppliers’ pricing history and request for quote responses by the supplier, including merchant refunds by product and clients, and volume rebates offered. It also constantly analyzes and monitors a seller’s ongoing performance against a sequence of key defined execution measurements.

The global supplier relationship management software market is mainly driven by growing demand for real-time interaction with suppliers and necessity to improve supply chain efficiencies. Additionally, growing requirement of supplier relationship management software among businesses in order to maximize the value of supplier engagement is anticipated to fuel the growth of the supplier relationship management software market around the globe. Furthermore, increase in adoption of cloud-based supplier relationship management software by enterprises to improve operational efficiencies and reduce costs, is also projected to fuel the demand for supplier relationship management software across the world. However, presence of large number of open-source software providers is a crucial factor hampering the growth of the global supplier relationship management software market. Furthermore, lack of cross-functional collaboration is also restricting the growth of this market around the globe.

Growing adoption of advanced technologies for supplier relationship management is anticipated to create new opportunities for the growth of the global supplier relationship management software market in forthcoming years.

The global supplier relationship management software market can be segmented on the basis of deployment, enterprise size, industry, and region. By deployment, the market can be segregated into cloud-based and on-premise. Based on enterprise size, the market can be categorized into small and medium enterprises, and large enterprises. Based on industry, the global supplier relationship management software market can be classified into manufacturing, retail & e-commerce, government, banking, financial services, and insurance (BFSI), IT & telecom, transportation & logistics, and others.

In terms of region, the global supplier relationship management software market can be segmented into Europe, North America, Middle East & Africa, South America, and Asia Pacific. The supplier relationship management software market in North America is estimated to expand at a substantial rate during the forecast period. North America sees high adoption of supplier relationship management software due to the presence of a large number of key companies, growing popularity of supplier relationship management software among small and medium enterprises, and adoption of cloud computing in different sectors. The supplier relationship management software market in Asia Pacific is anticipated to grow significantly during the forecast period. Growing demand for this software among end-use industries in order to optimize the cost of services and delivery procedures is expected to create new opportunities for the growth of the supplier relationship management software market in Asia Pacific.

Major players operating in the global supplier relationship management software market include Intelex Technologies, Inc., Epicor Software Corp., Wax Digital Limited, SAP AG, Ariba Inc., JDA Software Group Inc., Oracle Corporation, Zycus Inc., Iasta Inc., Neocase Software, Biznet Solutions Ltd., and WHIZTEC Software.

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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.

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

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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

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Below is a snapshot of these quadrants.

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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.

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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?

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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.

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Supplier Relationship Management Software Market

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