New York, NY -- (SBWire) -- 11/19/2018 --In this report, RRI Information studies the present scenario (with the base year being 2017) and the growth prospects of global Procurement Outsourcing market for 2018-2023.
Procure to pay (purchase to pay or P2P) is the process of obtaining and managing the raw materials needed for manufacturing a product or providing a service. It involves the transactional flow of data that is sent to a supplier as well as the data that surrounds the fulfillment of the actual order and payment for the product or service, the transfer of specified key procurement activities relating to sourcing and supplier management to a third party perhaps to reduce overall costs or maybe to tighten the company's focus on its core competencies. Procurement categorization and vendor management of indirect materials and services (commonly referred to as Indirect procurement) are typically the most popular outsourced activity.
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Cost reduction is the top priority for CPOs as they look to sustain business growth in a slowing market.
Demand for impactful procurement continues to run high, both in terms of managing cost as well as unleashing the potential of the supply market to differentiate business performance. However, the traditional constraints of manpower, expertise, and policy driven process are inhibiting.
Cycle times need to be shorter, insight needs to be richer and more agile, and performance needs to be more transparent and efficient.
Whether it's cognitive analytics to redefine scenario analysis, crowdsourcing to improve reach and creativity, or mobile analytics to unlock real-time performance management, the potential for these digital solutions to transform the procurement value proposition is considerable. Digital solutions should be embraced by CPOs and harnessed to greatly improve the function's accuracy, a speed of execution, and relevance to the greatest business challenges.
Over the next five years, RRII(RRI Information) projects that Procurement Outsourcing will register an 11.8% CAGR in terms of revenue, reach US$ 5500 million by 2023, from US$ 2820 million in 2017.
The report also presents the market competitive landscape and a corresponding detailed analysis of the major players in the market. The key players covered in this report:
IBM
Accenture
GEP
Infosys
Capgemini
Genpact
TCS
Xchanging
WNS
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This report presents a comprehensive overview, market shares and growth opportunities of Procurement Outsourcing market by product type, application, key companies and key regions.
To calculate the market size, RRI Information considers value generated from the sales of the following segments:
Segmentation by product type:
Direct Procurement
Indirect Procurement
Segmentation by application:
CPG and Retail
BFSI Sector
We can also provide the customized separate regional or country-level reports, for the following regions:
Americas
United States
Canada
Mexico
Brazil
APAC
China
Japan
Korea
Southeast Asia
India
Australia
Europe
Germany
France
UK
Italy
Russia
Spain
Middle East & Africa
Egypt
South Africa
Israel
Turkey
GCC Countries
Table of Contents
2018-2023 Global Procurement Outsourcing Market Report (Status and Outlook)
1 Scope of the Report
2 Executive Summary
3 Global Procurement Outsourcing by Players
4 Procurement Outsourcing by Regions
5 Americas
6 APAC
7 Europe
8 Middle East & Africa
9 Market Drivers, Challenges and Trends
10 Global Procurement Outsourcing Market Forecast
11 Key Players Analysis
11.1 IBM
11.1.1 Company Details
11.1.2 Procurement Outsourcing Product Offered
11.1.3 IBM Procurement Outsourcing Revenue, Gross Margin and Market Share (2016-2018)
11.1.4 Main Business Overview
11.1.5 IBM News
11.2 Accenture
11.2.1 Company Details
11.2.2 Procurement Outsourcing Product Offered
11.2.3 Accenture Procurement Outsourcing Revenue, Gross Margin and Market Share (2016-2018)
11.2.4 Main Business Overview
11.2.5 Accenture News
11.3 GEP
11.3.1 Company Details
11.3.2 Procurement Outsourcing Product Offered
11.3.3 GEP Procurement Outsourcing Revenue, Gross Margin and Market Share (2016-2018)
11.3.4 Main Business Overview
11.3.5 GEP News
11.4 Infosys
11.4.1 Company Details
11.4.2 Procurement Outsourcing Product Offered
11.4.3 Infosys Procurement Outsourcing Revenue, Gross Margin and Market Share (2016-2018)
11.4.4 Main Business Overview
11.4.5 Infosys News
11.5 Capgemini
11.5.1 Company Details
11.5.2 Procurement Outsourcing Product Offered
11.5.3 Capgemini Procurement Outsourcing Revenue, Gross Margin and Market Share (2016-2018)
11.5.4 Main Business Overview
11.5.5 Capgemini News
11.6 Genpact
11.6.1 Company Details
11.6.2 Procurement Outsourcing Product Offered
11.6.3 Genpact Procurement Outsourcing Revenue, Gross Margin and Market Share (2016-2018)
11.6.4 Main Business Overview
11.6.5 Genpact News
11.7 TCS
11.7.1 Company Details
11.7.2 Procurement Outsourcing Product Offered
11.7.3 TCS Procurement Outsourcing Revenue, Gross Margin and Market Share (2016-2018)
11.7.4 Main Business Overview
11.7.5 TCS News
11.8 Xchanging
11.8.1 Company Details
11.8.2 Procurement Outsourcing Product Offered
11.8.3 Xchanging Procurement Outsourcing Revenue, Gross Margin and Market Share (2016-2018)
11.8.4 Main Business Overview
11.8.5 Xchanging News
11.9 WNS
11.9.1 Company Details
11.9.2 Procurement Outsourcing Product Offered
11.9.3 WNS Procurement Outsourcing Revenue, Gross Margin and Market Share (2016-2018)
11.9.4 Main Business Overview
11.9.5 WNS News
12 Research Findings and Conclusion
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In addition, this report discusses the key drivers influencing market growth, opportunities, the challenges and the risks faced by key players and the market as a whole. It also analyzes key emerging trends and their impact on present and future development.
Research objectives
To study and analyze the global Procurement Outsourcing market size by key regions/countries, product type and application, history data from 2013 to 2017, and forecast to 2023.
To understand the structure of Procurement Outsourcing market by identifying its various subsegments.
Focuses on the key global Procurement Outsourcing players, to define, describe and analyze the value, market share, market competition landscape, SWOT analysis and development plans in next few years.
To analyze the Procurement Outsourcing with respect to individual growth trends, future prospects, and their contribution to the total market.
To share detailed information about the key factors influencing the growth of the market (growth potential, opportunities, drivers, industry-specific challenges and risks).
To project the size of Procurement Outsourcing submarkets, with respect to key regions (along with their respective key countries).
To analyze competitive developments such as expansions, agreements, new product launches and acquisitions in the market.
To strategically profile the key players and comprehensively analyze their growth strategies.
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