DUBLIN, Aug. 25, 2023 /PRNewswire/ — The “Business Spend Management Software Market, By Component, By Solution, By End-use Industry, and By Region- Size, Share, Outlook, and Opportunity Analysis, 2023 – 2030” report has been added to ResearchAndMarkets.com’s offering.
In the realm of business operations, the global Business Spend Management Software Market takes center stage, poised to reach a remarkable valuation of $38.68 billion by 2030 from $18.43 billion in 2023, with a robust CAGR of 11.2%.
Unveiling Business Spend Management: A Holistic Perspective
Business Spend Management (BSM) Software orchestrates diverse business processes, encompassing Procurement, Invoicing, Expense Management, and Other Cash Disbursements, all supported by cutting-edge software. It encompasses Budgeting, inventory management, contract lifecycle management, supplier management, strategic sourcing, and analytics.
Functioning in tandem with Enterprise Resource Planning (ERP), Customer Relationship Management (CRM), and Human Capital Management (HCM), BSM employs multiple technologies to automate spend-related activities, creating a streamlined procure-to-pay (P2P) process. BSM offers real-time spending insights, facilitating thorough analysis across all expenditure categories.
Dynamic Market Dynamics:
Drivers:
Increasing adoption of BSM across businessesIntegration of advanced technologies with BSM solutionsRestraints:
Lack of trained professionalsMarket Opportunities:
Higher adoption of cloud technology, driving cloud-based deploymentKey Features of the Study:
Exploration of potential revenue streams across segments and insightful elucidation of attractive investment propositions.Critical insights about market drivers, restraints, opportunities, new product launches, regional outlook, and competitive strategies embraced by industry leaders.Profiling of industry leaders based on parameters like company overview, financial performance, product portfolio, geographical presence, market capital, key developments, strategies, and future plans.Deciphering Insights for Informed Decision-Making:
Insights from this report empower marketing professionals and management authorities to make judicious choices regarding future product launches, product enhancements, market expansion, and marketing strategies. Stakeholders can leverage the array of strategy matrices used to analyze the global Business Spend Management Software Market, simplifying their decision-making process.
Detailed Market Segmentation:
Global Business Spend Management Software Market, By Component:
Software/PlatformServicesStepper MotorsGlobal Business Spend Management Software Market, By Deployment Type:
On-PremiseSaaSGlobal Business Spend Management Software Market, By Enterprise Size:
SMEsLarge EnterprisesGlobal Business Spend Management Software Market, By Solution:
Contract & Tender ManagementProcure-to-Pay SolutionsTravel & Expense ManagementSupplier & Risk ManagementSpend Management/Spend AnalyticsGlobal Business Spend Management Software Market, By End Use Industry:
BFSIEducationEnergy & UtilityHealthcareHospitalityIT & TelecomManufacturingRetailGlobal Business Spend Management Software Market, By Region:
North AmericaEuropeAsia-PacificLatin AmericaMiddle East & AfricaCompany Profiles:
AdvancedAriba, Inc. (SAP SE)Coupa Software IncGEP, ProcurifySage Intacct Inc. (The Sage Group PLC),SievoSutiSoft, Inc.TOUCHSTONE GROUP PLCVA Tech Ventures Pvt Limited (Happay)Key Attributes:
Report Attribute
Details
No. of Pages
180
Forecast Period
2023 – 2030
Estimated Market Value (USD) in 2023
$18.43 Billion
Forecasted Market Value (USD) by 2030
$38.68 Billion
Compound Annual Growth Rate
11.2 %
Regions Covered
Global
For more information about this report visit https://www.researchandmarkets.com/r/k6dfqb
About ResearchAndMarkets.comResearchAndMarkets.com is the world’s leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.
Media Contact:Research and MarketsLaura Wood, Senior Managerpress@researchandmarkets.com For E.S.T Office Hours Call +1-917-300-0470For U.S./CAN Toll Free Call +1-800-526-8630For GMT Office Hours Call +353-1-416-8900 U.S. Fax: 646-607-1907Fax (outside U.S.): +353-1-481-1716
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View original content:https://www.prnewswire.com/news-releases/business-spend-management-software-market-transforming-financial-operations—cagr-of-11-2-to-2030–301910059.html
SOURCE Research and Markets
DUBLIN, Aug. 25, 2023 /PRNewswire/ — The “Business Spend Management Software Market, By Component, By Solution, By End-use Industry, and By Region- Size, Share, Outlook, and Opportunity Analysis, 2023 – 2030” report has been added to ResearchAndMarkets.com’s offering.
In the realm of business operations, the global Business Spend Management Software Market takes center stage, poised to reach a remarkable valuation of $38.68 billion by 2030 from $18.43 billion in 2023, with a robust CAGR of 11.2%.
Unveiling Business Spend Management: A Holistic Perspective
Business Spend Management (BSM) Software orchestrates diverse business processes, encompassing Procurement, Invoicing, Expense Management, and Other Cash Disbursements, all supported by cutting-edge software. It encompasses Budgeting, inventory management, contract lifecycle management, supplier management, strategic sourcing, and analytics.
Functioning in tandem with Enterprise Resource Planning (ERP), Customer Relationship Management (CRM), and Human Capital Management (HCM), BSM employs multiple technologies to automate spend-related activities, creating a streamlined procure-to-pay (P2P) process. BSM offers real-time spending insights, facilitating thorough analysis across all expenditure categories.
Dynamic Market Dynamics:
Drivers:
Increasing adoption of BSM across businessesIntegration of advanced technologies with BSM solutions
Restraints:
Lack of trained professionals
Market Opportunities:
Higher adoption of cloud technology, driving cloud-based deployment
Key Features of the Study:
Exploration of potential revenue streams across segments and insightful elucidation of attractive investment propositions.Critical insights about market drivers, restraints, opportunities, new product launches, regional outlook, and competitive strategies embraced by industry leaders.Profiling of industry leaders based on parameters like company overview, financial performance, product portfolio, geographical presence, market capital, key developments, strategies, and future plans.
Deciphering Insights for Informed Decision-Making:
Insights from this report empower marketing professionals and management authorities to make judicious choices regarding future product launches, product enhancements, market expansion, and marketing strategies. Stakeholders can leverage the array of strategy matrices used to analyze the global Business Spend Management Software Market, simplifying their decision-making process.
Detailed Market Segmentation:
Global Business Spend Management Software Market, By Component:
Software/PlatformServicesStepper Motors
Global Business Spend Management Software Market, By Deployment Type:
On-PremiseSaaS
Global Business Spend Management Software Market, By Enterprise Size:
SMEsLarge Enterprises
Global Business Spend Management Software Market, By Solution:
Contract & Tender ManagementProcure-to-Pay SolutionsTravel & Expense ManagementSupplier & Risk ManagementSpend Management/Spend Analytics
Global Business Spend Management Software Market, By End Use Industry:
BFSIEducationEnergy & UtilityHealthcareHospitalityIT & TelecomManufacturingRetail
Global Business Spend Management Software Market, By Region:
North AmericaEuropeAsia-PacificLatin AmericaMiddle East & Africa
Company Profiles:
AdvancedAriba, Inc. (SAP SE)Coupa Software IncGEP, ProcurifySage Intacct Inc. (The Sage Group PLC),SievoSutiSoft, Inc.TOUCHSTONE GROUP PLCVA Tech Ventures Pvt Limited (Happay)
Key Attributes:
Report Attribute
Details
No. of Pages
180
Forecast Period
2023 – 2030
Estimated Market Value (USD) in 2023
$18.43 Billion
Forecasted Market Value (USD) by 2030
$38.68 Billion
Compound Annual Growth Rate
11.2 %
Regions Covered
Global
For more information about this report visit https://www.researchandmarkets.com/r/k6dfqb
About ResearchAndMarkets.com
ResearchAndMarkets.com is the world’s leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.
Media Contact:
Research and Markets
Laura Wood, Senior Manager
press@researchandmarkets.com
For E.S.T Office Hours Call +1-917-300-0470
For U.S./CAN Toll Free Call +1-800-526-8630
For GMT Office Hours Call +353-1-416-8900
U.S. Fax: 646-607-1907
Fax (outside U.S.): +353-1-481-1716
Logo: https://mma.prnewswire.com/media/539438/Research_and_Markets_Logo.jpg
View original content:https://www.prnewswire.com/news-releases/business-spend-management-software-market-transforming-financial-operations—cagr-of-11-2-to-2030–301910059.html
SOURCE Research and Markets