Spend Analysis is one of the most important part of ePurchasing Market. Analyzing Spend data and then consolidating spend between key supplier has now become key to purchasing policies. Though every company wants to analyze and consolidate it’s spend but only few has the requisite capabilities to do so. To bridge this gap there are lots of players who has now come up. The spend analysis market is increasingly becoming more competitive and crowded. It is growing fast and provides a range of offerings based on complexity and price. However it’s a healthy sign for this new market as newer innovation and better products are coming into the market. Also emergence of Saas has given a great amount of boost to ePurchasing Market and Spend Analysis suppliers have used the opportunity to maximum extent.
Spend Analysis though has a very old beginning but with the boom of ePurchasing Market in early 2000 it has started to develop and prosper in great deal. Andrew Bartels at Forrester Research published a very detailed white paper on ePurchasing Market Aptly titled Predictions 2009: ePurchasingMarket. He covered in great deal about the whole market and also given some overview about Spend Analysis Market. As per the report by Andrew Spend analysis market has achieved a double digit growth since 2004. Growing by phenomenal 27% in 2008 and to put matter into prospective it CAGR from 2004 to 2009 is 20%. Also it is expected to increase (despite of tough economic conditions) to about 13% in 2009. The data as a whole confirms a very healthy picture of Spend Analysis market.
Along with growth in the sector there is also a growth in the number of suppliers offering highly efficient and unique products. Susan Avery recently published her article titled Purchasing's guide to spend analysis at Purchasing.com. The article covers very comprehensively almost all the major players in Spend Anysis Market and gives an exciting insight into major features of the product offered, Suppliers Claim about their product and their pricing model. The report is very useful to all those who wants to know in detail about this market.
Some of the Major Supplier Highlighted in the article are:
- Ariba.
- Zycus Inc.
- Emptoris.
- Basware, Inc.
- BravoSolution.
- CVM Solutions.
- Enporion, Inc.
- Fieldglass, Inc.
- Global eProcure.
- Iasta.
- IQNavigator.
- Insight Sourcing Group.
- Ketera.
- Oracle.
- PurchasingNet, Inc.
- U.S. Bank.
Posts
Etesius are a global spend analysis SaaS provider who deliver line item mapping. They are worth adding to the list.
ReplyDeleteGood Post. Apart from Top Spend Analysis Players such as Zycus, Ariba etc, Some of the IT companies such as MindTree also came up with its own spend analysis solution.
ReplyDeleteI would add DU360 or spend 360 here as the best spend analysis organisation that I have come accross without doubt and amazing tool. Certainly worthy of this list.www.spend360.co.uk
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