The Business Spend Management (BSM) Software Market Size was valued at USD 20.98 billion in 2023 and is expected to reach USD 51.42 billion by 2031 and grow at a CAGR of 11.9% over the forecast period 2024-2031.
Businesses are rapidly transitioning to cloud-based BSM software due to its scalability, cost-effectiveness, and ease of deployment. The shift towards remote work and the need for accessible financial management tools have further accelerated this trend. Organizations are increasingly relying on spend analytics to gain insights into their spending patterns, identify cost-saving opportunities, and make informed procurement decisions. This demand is driven by the need for greater financial transparency and control.
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In February 2022, Coupa Software launched its unified Travel and Expense suite, expanding its BSM solution coverage. This integrated suite combines Coupa's existing capabilities with those of two acquired T&E firms, providing businesses with a comprehensive platform for managing travel and expense spending.
With the constantly evolving regulatory landscape, businesses are under pressure to ensure compliance with various financial regulations. BSM software provides the necessary tools and controls to track spending, enforce policies, and mitigate risks. AI-powered BSM software enables businesses to automate repetitive tasks, improve accuracy, and uncover hidden patterns in spending data. This not only streamlines processes but also allows for more strategic decision-making.
In March 2022, Xeeva launched its AI-driven Spend Analytics Platform, which uses advanced algorithms to identify and classify spending data accurately, generating hundreds of intelligent cost-saving opportunities for businesses.
The rise of e-commerce and digital payments has led to an increase in the volume and complexity of financial transactions. BSM software helps businesses manage these transactions effectively, ensuring accuracy and compliance. Effective supplier relationship management is crucial for businesses to ensure timely delivery of goods and services, negotiate favorable terms, and mitigate supply chain risks. BSM software provides tools for supplier onboarding, performance tracking, and contract management. Businesses are increasingly seeking integrated BSM solutions that can manage all aspects of spending, from procurement to payment. This demand is driven by the need for greater efficiency and visibility across the entire spend management process.
In June 2021, Kissflow introduced Kissflow Procurement Cloud, a cloud-based procure-to-pay system that combines functions for supplier management, spending controls, eProcurement, inventory management, and AP automation.
Drivers:
An increase in the use of spend analytics in businesses to stimulate market expansion
The process of requesting and approving spend, collecting transaction information, making payments, booking, tracking, and analyzing business expenditures are all included under the broad phrase "spend management." At the moment, businesses are using data more and more to manage their finances, especially when it comes to expenditure. Spend analysis technologies are helping businesses manage their supply chains better. It enables visibility into product lines, service offerings, and supplier relationships in real-time. As a result, the supply chain's numerous processes are given additional control. Spend analytics gives a more precise picture of the sourcing, contracting, and purchasing activities inside the supply chain. As a result, resources can be redirected to alleviate bottlenecks in ongoing programs. New technologies are being created by businesses to aid consumers in managing their spending.
In April 2024, Coupa, the leading margin multiplier company, unveiled advanced AI-driven innovations at Inspire, its annual community conference. These innovations span across its comprehensive total spend management platform, offering both direct and indirect spend solutions.
Restrains:
Technical skills shortage to limit market expansion
Businesses' procurement teams are overburdened with routine purchasing chores, supplier management, processing purchase orders, etc. On the other hand, expense management demands consistent efforts to identify, compile, evaluate, and implement spending opportunities for data savings. It is challenging to evaluate or create a strategy for managing the company's spending when a businessperson does not have a complete understanding of it. Unfortunately, the absence of real-time visibility is a common problem. This is particularly true for growth-stage businesses with high capital expenditures (CAPEX), a lack of dedicated spending and budgeting processes, and a small or nonexistent finance staff.
Additionally, these issues contribute to incomplete spending data and disorganized financial records. The growth of business spend management (BSM) software is therefore anticipated to be hampered by the aforementioned concerns.
Opportunities:
According to estimates, increasing smartphone and internet usage may present prospects for the expansion of business software spending.
Challenges:
The challenges associated with designs and implementation could be an even bigger obstacle.
Impact of Russia-Ukraine War:
The war has caused significant disruptions to global supply chains, leading to increased costs and delays. BSM software helps businesses manage these disruptions by providing visibility into spending, identifying alternative suppliers, and optimizing inventory levels. BSM software can help companies track spending, identify areas for cost savings, and negotiate better contracts with suppliers. The war has highlighted the importance of risk management for businesses. BSM software can help organizations identify and mitigate risks related to supply chain disruptions, financial instability, and regulatory changes.
The war has created economic uncertainty, which may lead some businesses to delay or reduce their investments in BSM software. However, the need for cost optimization and risk management during these turbulent times could also drive demand for BSM solutions. Sanctions imposed on Russia have created additional complexities for businesses operating in the region or dealing with Russian suppliers. BSM software can help companies navigate these sanctions by ensuring compliance with trade restrictions and identifying alternative suppliers.
Impact of Economic Downturn:
During economic downturns, businesses prioritize cost reduction and efficiency. BSM software becomes essential as it provides tools for tracking spending, identifying inefficiencies, and negotiating better deals with suppliers. In times of financial strain, maintaining a healthy cash flow is crucial. BSM solutions help companies manage payables and receivables more effectively, ensuring timely payments and minimizing late fees. Economic downturns can increase risks related to supplier bankruptcies, contract breaches, and financial instability. BSM software with risk assessment and mitigation features becomes valuable for identifying and addressing potential problems before they escalate.
Market segmentation
By Deployment
On-premise
Cloud
By Solution
Procure-to-Pay Solutions
Travel & Expense Management
Contract & e-Tender Management
Spend Management/Spend Analytics
Supplier & Risk Management
Others (Treasury Management and Source-to-Contract)
Spend Management/Spend Analytics is estimated to grow at the highest CAGR from 2024-2031 in the Business Spend Management (BSM) Software Market. Companies are dealing with more complex spending data from various sources. Spend analytics tools help them make sense of this data. Economic pressures are pushing businesses to find ways to control and reduce costs. Spend analytics provides insights into where savings can be realized. Organizations are increasingly relying on data to make strategic choices, and spend analytics provides the necessary data foundation. Improvements in AI and machine learning are making spend analytics tools more sophisticated and effective.
For Example, In Oct 2023, SAP SE unveiled advanced business AI and user experience enhancements in its extensive spend management and business network solutions. These innovations are designed to empower customers to control costs, manage risks, and boost productivity. The exciting announcements were made during the SAP Spend Connect Live event, the leading spend management conference in the industry, held from October 9 to 11 in Vienna.
By Enterprise Type
Large Enterprises
SMEs
Large Enterprises dominated the Enterprise Type of Business Spend Management (BSM) Software Market with the highest revenue share of more than 60% in 2023. Large enterprises typically have extensive and complex spending across various categories, departments, and geographies. BSM solutions help them gain visibility into this spending, identify savings opportunities, and enforce compliance. Larger companies generally have bigger budgets allocated to technology and process optimization, making it easier for them to invest in BSM software. Large organizations often require centralized control over spending to ensure efficiency, reduce risk, and comply with regulations. BSM solutions provide the tools to achieve this centralized control.
For example, IBM, a multinational technology company, has launched a BSM solution specifically targeted at large enterprises called "IBM Emptoris Spend Analysis." This solution helps large organizations gain a deeper understanding of their spending patterns, identify cost-saving opportunities, and improve supplier relationships.
By End-user
BFSI
IT & Telecom
Healthcare
Travel & Tourism
Retail & E-commerce
Hospitality
Energy & Utility
Others (Education and Logistics)
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Regional Analysis
North America led the Business Spend Management (BSM) Software Market with the highest revenue share of more than 35% in 2023. North American businesses tend to be early adopters of new technologies, including BSM solutions. This early adoption has led to a more mature and developed market in the region. Companies in North America place a high emphasis on cost efficiency and optimization. BSM software helps them achieve these goals by providing visibility into spending patterns and identifying potential savings. Many leading BSM software vendors are based in North America. This proximity to customers and understanding of local market needs gives them a competitive advantage. Stringent financial regulations in North America drive the demand for BSM solutions that can help ensure compliance and reduce risk. The well-developed digital infrastructure in North America facilitates the adoption and implementation of cloud-based BSM solutions.
In Oct 2022, Emburse, the worldwide leader in spend optimization announced the launch of Emburse Cards for small to medium-sized businesses in the UK, as well as enterprise organizations. These innovative cards seamlessly integrate with Emburse's expense management solutions, offering a streamlined process for issuance and management, while providing unmatched control over spending.
In Oct 2023, Procurify successfully secured $50 million in Series C funding to support its global expansion, introduce new payment features, and enhance the procure-to-pay experience for its customers through the integration of artificial intelligence. The funding round is spearheaded by Ten Coves Capital, with additional investments from Export Development Canada (EDC) and continued support from existing investors such as Information Venture Partners and HarbourVest, among others.
REGIONAL COVERAGE:
North America
US
Canada
Mexico
Europe
Eastern Europe
Poland
Romania
Hungary
Turkey
Rest of Eastern Europe
Western Europe
Germany
France
UK
Italy
Spain
Netherlands
Switzerland
Austria
Rest of Western Europe
Asia Pacific
China
India
Japan
South Korea
Vietnam
Singapore
Australia
Rest of Asia Pacific
Middle East & Africa
Middle East
UAE
Egypt
Saudi Arabia
Qatar
Rest of the Middle East
Africa
Nigeria
South Africa
Rest of Africa
Latin America
Brazil
Argentina
Colombia
Rest of Latin America
The major players in the market are GEP, Basware, Coupa Software Inc., Proactis Holdings Plc., SAP SE, Ivalua Inc., Xeeva, Zycus Inc., Sievo, JAGGAER, IBM, SutiSoft, Inc., Fraxion., and others in the final report.
Recent Development:
In February 2023, Thoma Bravo, a prominent software investment firm, successfully acquired Coupa Software in an all-cash transaction worth approximately $8.0 billion. This acquisition is anticipated to enhance Coupa's position in the BSM market and expedite its growth trajectory.
In Feb 2022, IBM announced significant advancements to assist clients in expediting their transformation journey by introducing a range of new capabilities aimed at modernizing applications in hybrid cloud environments. These enhancements encompass the provision of IBM Z-as-a-service on IBM Cloud for development and testing purposes, along with the introduction of additional tools for the creation of hybrid applications.
In Jan 2022, SAP announced a partnership with Taulia, a leading provider of working capital management solutions. This partnership aims to integrate Taulia's early payment solutions with SAP's BSM software to help businesses improve their cash flow and working capital management.
| Report Attributes | Details |
| Market Size in 2023 | US$ 20.98 Bn |
| Market Size by 2031 | US$ 51.42 Bn |
| CAGR | CAGR of 11.9% From 2024 to 2031 |
| Base Year | 2023 |
| Forecast Period | 2024-2031 |
| Historical Data | 2020-2022 |
| Report Scope & Coverage | Market Size, Segments Analysis, Competitive Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook |
| Key Segments | • By Deployment (On-premise and Cloud) • By Solution (Procure-to-Pay Solutions, Travel & Expense Management, Contract & e-Tender Management, Spend Management/Spend Analytics, Supplier & Risk Management, and Others (Treasury Management and Source-to-Contract)) • By Enterprise Type (Large Enterprises and SMEs) • By End-user (BFSI, IT & Telecom, Healthcare, Travel & Tourism, Retail & E-commerce, Hospitality, Energy & Utility, and Others (Education and Logistics)) |
| Regional Analysis/Coverage | North America (US, Canada, Mexico), Europe (Eastern Europe [Poland, Romania, Hungary, Turkey, Rest of Eastern Europe] Western Europe] Germany, France, UK, Italy, Spain, Netherlands, Switzerland, Austria, Rest of Western Europe]), Asia Pacific (China, India, Japan, South Korea, Vietnam, Singapore, Australia, Rest of Asia Pacific), Middle East & Africa (Middle East [UAE, Egypt, Saudi Arabia, Qatar, Rest of Middle East], Africa [Nigeria, South Africa, Rest of Africa], Latin America (Brazil, Argentina, Colombia, Rest of Latin America) |
| Company Profiles | GEP, Basware, Coupa Software Inc., Proactis Holdings Plc., SAP SE, Ivalua Inc., Xeeva, Zycus Inc., Sievo, JAGGAER, IBM, SutiSoft, Inc., Fraxion. |
| Key Drivers | • An increase in the use of spend analytics in businesses to stimulate market expansion |
| Market Opportunities | • According to estimates, increasing smartphone and internet usage may present prospects for the expansion of business software spending. |
Ans: The Business Spend Management (BSM) Software Market was valued at USD 20.98 billion in 2023.
Ans: The expected CAGR of the global Business Spend Management (BSM) Software Market during the forecast period is 11.9%.
Ans: The BFSI segment dominated the Business Spend Management (BSM) Software Market in 2023.
Ans: Data security concerns and integration challenges with existing systems are the primary factors that hamper the growth of the Business Spend Management (BSM) software market.
Ans: The United States led the Business Spend Management (BSM) Software Market in North America region with highest revenue share in 2023.
TABLE OF CONTENTS
1. Introduction
1.1 Market Definition
1.2 Scope
1.3 Research Assumptions
2. Industry Flowchart
3. Research Methodology
4. Market Dynamics
4.1 Drivers
4.2 Restraints
4.3 Opportunities
4.4 Challenges
5. Impact Analysis
5.1 Impact of Russia-Ukraine Crisis
5.2 Impact of Economic Slowdown on Major Countries
5.2.1 Introduction
5.2.2 United States
5.2.3 Canada
5.2.4 Germany
5.2.5 France
5.2.6 UK
5.2.7 China
5.2.8 Japan
5.2.9 South Korea
5.2.10 India
6. Value Chain Analysis
7. Porter’s 5 Forces Model
8. Pest Analysis
9. Business Spend Management (BSM) Software Market Segmentation, By Deployment
9.1 Introduction
9.2 Trend Analysis
9.3 On-premise
9.4 Cloud
10. Business Spend Management (BSM) Software Market Segmentation, By Solution
10.1 Introduction
10.2 Trend Analysis
10.3 Procure-to-Pay Solutions
10.4 Travel & Expense Management
10.5 Contract & e-Tender Management
10.6 Spend Management/Spend Analytics
10.7 Supplier & Risk Management
10.8 Others (Treasury Management and Source-to-Contract)
11. Business Spend Management (BSM) Software Market Segmentation, By Enterprise Type
11.1 Introduction
11.2 Trend Analysis
11.3 Large Enterprises
11.4 SMEs
12. Business Spend Management (BSM) Software Market Segmentation, By End-user
12.1 Introduction
12.2 Trend Analysis
12.3 BFSI
12.4 IT & Telecom
12.5 Healthcare
12.6 Travel & Tourism
12.7 Retail & E-commerce
12.8 Hospitality
12.9 Energy & Utility
12.10 Others (Education and Logistics)
13. Regional Analysis
13.1 Introduction
13.2 North America
13.2.1 Trend Analysis
13.2.2 North America Business Spend Management (BSM) Software Market by Country
13.2.3 North America Business Spend Management (BSM) Software Market By Deployment
13.2.4 North America Business Spend Management (BSM) Software Market By Solution
13.2.5 North America Business Spend Management (BSM) Software Market By Enterprise Type
13.2.6 North America Business Spend Management (BSM) Software Market By End-user
13.2.7 USA
13.2.7.1 USA Business Spend Management (BSM) Software Market By Deployment
13.2.7.2 USA Business Spend Management (BSM) Software Market By Solution
13.2.7.3 USA Business Spend Management (BSM) Software Market By Enterprise Type
13.2.7.4 USA Business Spend Management (BSM) Software Market By End-user
13.2.8 Canada
13.2.8.1 Canada Business Spend Management (BSM) Software Market By Deployment
13.2.8.2 Canada Business Spend Management (BSM) Software Market By Solution
13.2.8.3 Canada Business Spend Management (BSM) Software Market By Enterprise Type
13.2.8.4 Canada Business Spend Management (BSM) Software Market By End-user
13.2.9 Mexico
13.2.9.1 Mexico Business Spend Management (BSM) Software Market By Deployment
13.2.9.2 Mexico Business Spend Management (BSM) Software Market By Solution
13.2.9.3 Mexico Business Spend Management (BSM) Software Market By Enterprise Type
13.2.9.4 Mexico Business Spend Management (BSM) Software Market By End-user
13.3 Europe
13.3.1 Trend Analysis
13.3.2 Eastern Europe
13.3.2.1 Eastern Europe Business Spend Management (BSM) Software Market by Country
13.3.2.2 Eastern Europe Business Spend Management (BSM) Software Market By Deployment
13.3.2.3 Eastern Europe Business Spend Management (BSM) Software Market By Solution
13.3.2.4 Eastern Europe Business Spend Management (BSM) Software Market By Enterprise Type
13.3.2.5 Eastern Europe Business Spend Management (BSM) Software Market By End-user
13.3.2.6 Poland
13.3.2.6.1 Poland Business Spend Management (BSM) Software Market By Deployment
13.3.2.6.2 Poland Business Spend Management (BSM) Software Market By Solution
13.3.2.6.3 Poland Business Spend Management (BSM) Software Market By Enterprise Type
13.3.2.6.4 Poland Business Spend Management (BSM) Software Market By End-user
13.3.2.7 Romania
13.3.2.7.1 Romania Business Spend Management (BSM) Software Market By Deployment
13.3.2.7.2 Romania Business Spend Management (BSM) Software Market By Solution
13.3.2.7.3 Romania Business Spend Management (BSM) Software Market By Enterprise Type
13.3.2.7.4 Romania Business Spend Management (BSM) Software Market By End-user
13.3.2.8 Hungary
13.3.2.8.1 Hungary Business Spend Management (BSM) Software Market By Deployment
13.3.2.8.2 Hungary Business Spend Management (BSM) Software Market By Solution
13.3.2.8.3 Hungary Business Spend Management (BSM) Software Market By Enterprise Type
13.3.2.8.4 Hungary Business Spend Management (BSM) Software Market By End-user
13.3.2.9 Turkey
13.3.2.9.1 Turkey Business Spend Management (BSM) Software Market By Deployment
13.3.2.9.2 Turkey Business Spend Management (BSM) Software Market By Solution
13.3.2.9.3 Turkey Business Spend Management (BSM) Software Market By Enterprise Type
13.3.2.9.4 Turkey Business Spend Management (BSM) Software Market By End-user
13.3.2.10 Rest of Eastern Europe
13.3.2.10.1 Rest of Eastern Europe Business Spend Management (BSM) Software Market By Deployment
13.3.2.10.2 Rest of Eastern Europe Business Spend Management (BSM) Software Market By Solution
13.3.2.10.3 Rest of Eastern Europe Business Spend Management (BSM) Software Market By Enterprise Type
13.3.2.10.4 Rest of Eastern Europe Business Spend Management (BSM) Software Market By End-user
13.3.3 Western Europe
13.3.3.1 Western Europe Business Spend Management (BSM) Software Market by Country
13.3.3.2 Western Europe Business Spend Management (BSM) Software Market By Deployment
13.3.3.3 Western Europe Business Spend Management (BSM) Software Market By Solution
13.3.3.4 Western Europe Business Spend Management (BSM) Software Market By Enterprise Type
13.3.3.5 Western Europe Business Spend Management (BSM) Software Market By End-user
13.3.3.6 Germany
13.3.3.6.1 Germany Business Spend Management (BSM) Software Market By Deployment
13.3.3.6.2 Germany Business Spend Management (BSM) Software Market By Solution
13.3.3.6.3 Germany Business Spend Management (BSM) Software Market By Enterprise Type
13.3.3.6.4 Germany Business Spend Management (BSM) Software Market By End-user
13.3.3.7 France
13.3.3.7.1 France Business Spend Management (BSM) Software Market By Deployment
13.3.3.7.2 France Business Spend Management (BSM) Software Market By Solution
13.3.3.7.3 France Business Spend Management (BSM) Software Market By Enterprise Type
13.3.3.7.4 France Business Spend Management (BSM) Software Market By End-user
13.3.3.8 UK
13.3.3.8.1 UK Business Spend Management (BSM) Software Market By Deployment
13.3.3.8.2 UK Business Spend Management (BSM) Software Market By Solution
13.3.3.8.3 UK Business Spend Management (BSM) Software Market By Enterprise Type
13.3.3.8.4 UK Business Spend Management (BSM) Software Market By End-user
13.3.3.9 Italy
13.3.3.9.1 Italy Business Spend Management (BSM) Software Market By Deployment
13.3.3.9.2 Italy Business Spend Management (BSM) Software Market By Solution
13.3.3.9.3 Italy Business Spend Management (BSM) Software Market By Enterprise Type
13.3.3.9.4 Italy Business Spend Management (BSM) Software Market By End-user
13.3.3.10 Spain
13.3.3.10.1 Spain Business Spend Management (BSM) Software Market By Deployment
13.3.3.10.2 Spain Business Spend Management (BSM) Software Market By Solution
13.3.3.10.3 Spain Business Spend Management (BSM) Software Market By Enterprise Type
13.3.3.10.4 Spain Business Spend Management (BSM) Software Market By End-user
13.3.3.11 Netherlands
13.3.3.11.1 Netherlands Business Spend Management (BSM) Software Market By Deployment
13.3.3.11.2 Netherlands Business Spend Management (BSM) Software Market By Solution
13.3.3.11.3 Netherlands Business Spend Management (BSM) Software Market By Enterprise Type
13.3.3.11.4 Netherlands Business Spend Management (BSM) Software Market By End-user
13.3.3.12 Switzerland
13.3.3.12.1 Switzerland Business Spend Management (BSM) Software Market By Deployment
13.3.3.12.2 Switzerland Business Spend Management (BSM) Software Market By Solution
13.3.3.12.3 Switzerland Business Spend Management (BSM) Software Market By Enterprise Type
13.3.3.12.4 Switzerland Business Spend Management (BSM) Software Market By End-user
13.3.3.13 Austria
13.3.3.13.1 Austria Business Spend Management (BSM) Software Market By Deployment
13.3.3.13.2 Austria Business Spend Management (BSM) Software Market By Solution
13.3.3.13.3 Austria Business Spend Management (BSM) Software Market By Enterprise Type
13.3.3.13.4 Austria Business Spend Management (BSM) Software Market By End-user
13.3.3.14 Rest of Western Europe
13.3.3.14.1 Rest of Western Europe Business Spend Management (BSM) Software Market By Deployment
13.3.3.14.2 Rest of Western Europe Business Spend Management (BSM) Software Market By Solution
13.3.3.14.3 Rest of Western Europe Business Spend Management (BSM) Software Market By Enterprise Type
13.3.3.14.4 Rest of Western Europe Business Spend Management (BSM) Software Market By End-user
13.4 Asia-Pacific
13.4.1 Trend Analysis
13.4.2 Asia-Pacific Business Spend Management (BSM) Software Market by Country
13.4.3 Asia-Pacific Business Spend Management (BSM) Software Market By Deployment
13.4.4 Asia-Pacific Business Spend Management (BSM) Software Market By Solution
13.4.5 Asia-Pacific Business Spend Management (BSM) Software Market By Enterprise Type
13.4.6 Asia-Pacific Business Spend Management (BSM) Software Market By End-user
13.4.7 China
13.4.7.1 China Business Spend Management (BSM) Software Market By Deployment
13.4.7.2 China Business Spend Management (BSM) Software Market By Solution
13.4.7.3 China Business Spend Management (BSM) Software Market By Enterprise Type
13.4.7.4 China Business Spend Management (BSM) Software Market By End-user
13.4.8 India
13.4.8.1 India Business Spend Management (BSM) Software Market By Deployment
13.4.8.2 India Business Spend Management (BSM) Software Market By Solution
13.4.8.3 India Business Spend Management (BSM) Software Market By Enterprise Type
13.4.8.4 India Business Spend Management (BSM) Software Market By End-user
13.4.9 Japan
13.4.9.1 Japan Business Spend Management (BSM) Software Market By Deployment
13.4.9.2 Japan Business Spend Management (BSM) Software Market By Solution
13.4.9.3 Japan Business Spend Management (BSM) Software Market By Enterprise Type
13.4.9.4 Japan Business Spend Management (BSM) Software Market By End-user
13.4.10 South Korea
13.4.10.1 South Korea Business Spend Management (BSM) Software Market By Deployment
13.4.10.2 South Korea Business Spend Management (BSM) Software Market By Solution
13.4.10.3 South Korea Business Spend Management (BSM) Software Market By Enterprise Type
13.4.10.4 South Korea Business Spend Management (BSM) Software Market By End-user
13.4.11 Vietnam
13.4.11.1 Vietnam Business Spend Management (BSM) Software Market By Deployment
13.4.11.2 Vietnam Business Spend Management (BSM) Software Market By Solution
13.4.11.3 Vietnam Business Spend Management (BSM) Software Market By Enterprise Type
13.4.11.4 Vietnam Business Spend Management (BSM) Software Market By End-user
13.4.12 Singapore
13.4.12.1 Singapore Business Spend Management (BSM) Software Market By Deployment
13.4.12.2 Singapore Business Spend Management (BSM) Software Market By Solution
13.4.12.3 Singapore Business Spend Management (BSM) Software Market By Enterprise Type
13.4.12.4 Singapore Business Spend Management (BSM) Software Market By End-user
13.4.13 Australia
13.4.13.1 Australia Business Spend Management (BSM) Software Market By Deployment
13.4.13.2 Australia Business Spend Management (BSM) Software Market By Solution
13.4.13.3 Australia Business Spend Management (BSM) Software Market By Enterprise Type
13.4.13.4 Australia Business Spend Management (BSM) Software Market By End-user
13.4.14 Rest of Asia-Pacific
13.4.14.1 Rest of Asia-Pacific Business Spend Management (BSM) Software Market By Deployment
13.4.14.2 Rest of Asia-Pacific Business Spend Management (BSM) Software Market By Solution
13.4.14.3 Rest of Asia-Pacific Business Spend Management (BSM) Software Market By Enterprise Type
13.4.14.4 Rest of Asia-Pacific Business Spend Management (BSM) Software Market By End-user
13.5 Middle East & Africa
13.5.1 Trend Analysis
13.5.2 Middle East
13.5.2.1 Middle East Business Spend Management (BSM) Software Market by Country
13.5.2.2 Middle East Business Spend Management (BSM) Software Market By Deployment
13.5.2.3 Middle East Business Spend Management (BSM) Software Market By Solution
13.5.2.4 Middle East Business Spend Management (BSM) Software Market By Enterprise Type
13.5.2.5 Middle East Business Spend Management (BSM) Software Market By End-user
13.5.2.6 UAE
13.5.2.6.1 UAE Business Spend Management (BSM) Software Market By Deployment
13.5.2.6.2 UAE Business Spend Management (BSM) Software Market By Solution
13.5.2.6.3 UAE Business Spend Management (BSM) Software Market By Enterprise Type
13.5.2.6.4 UAE Business Spend Management (BSM) Software Market By End-user
13.5.2.7 Egypt
13.5.2.7.1 Egypt Business Spend Management (BSM) Software Market By Deployment
13.5.2.7.2 Egypt Business Spend Management (BSM) Software Market By Solution
13.5.2.7.3 Egypt Business Spend Management (BSM) Software Market By Enterprise Type
13.5.2.7.4 Egypt Business Spend Management (BSM) Software Market By End-user
13.5.2.8 Saudi Arabia
13.5.2.8.1 Saudi Arabia Business Spend Management (BSM) Software Market By Deployment
13.5.2.8.2 Saudi Arabia Business Spend Management (BSM) Software Market By Solution
13.5.2.8.3 Saudi Arabia Business Spend Management (BSM) Software Market By Enterprise Type
13.5.2.8.4 Saudi Arabia Business Spend Management (BSM) Software Market By End-user
13.5.2.9 Qatar
13.5.2.9.1 Qatar Business Spend Management (BSM) Software Market By Deployment
13.5.2.9.2 Qatar Business Spend Management (BSM) Software Market By Solution
13.5.2.9.3 Qatar Business Spend Management (BSM) Software Market By Enterprise Type
13.5.2.9.4 Qatar Business Spend Management (BSM) Software Market By End-user
13.5.2.10 Rest of Middle East
13.5.2.10.1 Rest of Middle East Business Spend Management (BSM) Software Market By Deployment
13.5.2.10.2 Rest of Middle East Business Spend Management (BSM) Software Market By Solution
13.5.2.10.3 Rest of Middle East Business Spend Management (BSM) Software Market By Enterprise Type
13.5.2.10.4 Rest of Middle East Business Spend Management (BSM) Software Market By End-user
13.5.3 Africa
13.5.3.1 Africa Business Spend Management (BSM) Software Market by Country
13.5.3.2 Africa Business Spend Management (BSM) Software Market By Deployment
13.5.3.3 Africa Business Spend Management (BSM) Software Market By Solution
13.5.3.4 Africa Business Spend Management (BSM) Software Market By Enterprise Type
13.5.3.5 Africa Business Spend Management (BSM) Software Market By End-user
13.5.3.6 Nigeria
13.5.3.6.1 Nigeria Business Spend Management (BSM) Software Market By Deployment
13.5.3.6.2 Nigeria Business Spend Management (BSM) Software Market By Solution
13.5.3.6.3 Nigeria Business Spend Management (BSM) Software Market By Enterprise Type
13.5.3.6.4 Nigeria Business Spend Management (BSM) Software Market By End-user
13.5.3.7 South Africa
13.5.3.7.1 South Africa Business Spend Management (BSM) Software Market By Deployment
13.5.3.7.2 South Africa Business Spend Management (BSM) Software Market By Solution
13.5.3.7.3 South Africa Business Spend Management (BSM) Software Market By Enterprise Type
13.5.3.7.4 South Africa Business Spend Management (BSM) Software Market By End-user
13.5.3.8 Rest of Africa
13.5.3.8.1 Rest of Africa Business Spend Management (BSM) Software Market By Deployment
13.5.3.8.2 Rest of Africa Business Spend Management (BSM) Software Market By Solution
13.5.3.8.3 Rest of Africa Business Spend Management (BSM) Software Market By Enterprise Type
13.5.3.8.4 Rest of Africa Business Spend Management (BSM) Software Market By End-user
13.6 Latin America
13.6.1 Trend Analysis
13.6.2 Latin America Business Spend Management (BSM) Software Market by Country
13.6.3 Latin America Business Spend Management (BSM) Software Market By Deployment
13.6.4 Latin America Business Spend Management (BSM) Software Market By Solution
13.6.5 Latin America Business Spend Management (BSM) Software Market By Enterprise Type
13.6.6 Latin America Business Spend Management (BSM) Software Market By End-user
13.6.7 Brazil
13.6.7.1 Brazil Business Spend Management (BSM) Software Market By Deployment
13.6.7.2 Brazil Business Spend Management (BSM) Software Market By Solution
13.6.7.3 Brazil Business Spend Management (BSM) Software Market By Enterprise Type
13.6.7.4 Brazil Business Spend Management (BSM) Software Market By End-user
13.6.8 Argentina
13.6.8.1 Argentina Business Spend Management (BSM) Software Market By Deployment
13.6.8.2 Argentina Business Spend Management (BSM) Software Market By Solution
13.6.8.3 Argentina Business Spend Management (BSM) Software Market By Enterprise Type
13.6.8.4 Argentina Business Spend Management (BSM) Software Market By End-user
13.6.9 Colombia
13.6.9.1 Colombia Business Spend Management (BSM) Software Market By Deployment
13.6.9.2 Colombia Business Spend Management (BSM) Software Market By Solution
13.6.9.3 Colombia Business Spend Management (BSM) Software Market By Enterprise Type
13.6.9.4 Colombia Business Spend Management (BSM) Software Market By End-user
13.6.10 Rest of Latin America
13.6.10.1 Rest of Latin America Business Spend Management (BSM) Software Market By Deployment
13.6.10.2 Rest of Latin America Business Spend Management (BSM) Software Market By Solution
13.6.10.3 Rest of Latin America Business Spend Management (BSM) Software Market By Enterprise Type
13.6.10.4 Rest of Latin America Business Spend Management (BSM) Software Market By End-user
14. Company Profiles
14.1 GEP.
14.1.1 Company Overview
14.1.2 Financials
14.1.3 Product/Services/Offerings
14.1.4 SWOT Analysis
14.1.5 The SNS View
14.2 Basware.
14.2.1 Company Overview
14.2.2 Financials
14.2.3 Product/Services/Offerings
14.2.4 SWOT Analysis
14.2.5 The SNS View
14.3 Coupa Software Inc.
14.3.1 Company Overview
14.3.2 Financials
14.3.3 Product/Services/Offerings
14.3.4 SWOT Analysis
14.3.5 The SNS View
14.4 Proactis Holdings Plc.
14.4.1 Company Overview
14.4.2 Financials
14.4.3 Product/Services/Offerings
14.4.4 SWOT Analysis
14.4.5 The SNS View
14.5 SAP SE
14.5.1 Company Overview
14.5.2 Financials
14.5.3 Product/Services/Offerings
14.5.4 SWOT Analysis
14.5.5 The SNS View
14.6 Ivalua Inc.
14.6.1 Company Overview
14.6.2 Financials
14.6.3 Product/Services/Offerings
14.6.4 SWOT Analysis
14.6.5 The SNS View
14.7 SutiSoft Inc
14.7.1 Company Overview
14.7.2 Financials
14.7.3 Product/Services/Offerings
14.7.4 SWOT Analysis
14.7.5 The SNS View
14.8 Zycus Inc.
14.8.1 Company Overview
14.8.2 Financials
14.8.3 Product/Services/Offerings
14.8.4 SWOT Analysis
14.8.5 The SNS View
14.9 JAGGAER.
14.9.1 Company Overview
14.9.2 Financials
14.9.3 Product/Services/Offerings
14.9.4 SWOT Analysis
14.9.5 The SNS View
14.10 Fraxion.
14.10.1 Company Overview
14.10.2 Financials
14.10.3 Product/Services/Offerings
14.10.4 SWOT Analysis
14.10.5 The SNS View
14.11 Xeeva
14.11.1 Company Overview
14.11.2 Financials
14.11.3 Product/Services/Offerings
14.11.4 SWOT Analysis
14.11.5 The SNS View
14.12 Sievo
14.12.1 Company Overview
14.12.2 Financials
14.12.3 Product/Services/Offerings
14.12.4 SWOT Analysis
14.12.5 The SNS View
14.13 IBM
14.13.1 Company Overview
14.13.2 Financials
14.13.3 Product/Services/Offerings
14.13.4 SWOT Analysis
14.13.5 The SNS View
15. Competitive Landscape
15.1 Competitive Benchmarking
15.2 Market Share Analysis
15.3 Recent Developments
15.3.1 Industry News
15.3.2 Company News
15.3.3 Mergers & Acquisitions
16. Use Case and Best Practices
17. Conclusion
An accurate research report requires proper strategizing as well as implementation. There are multiple factors involved in the completion of good and accurate research report and selecting the best methodology to compete the research is the toughest part. Since the research reports we provide play a crucial role in any company’s decision-making process, therefore we at SNS Insider always believe that we should choose the best method which gives us results closer to reality. This allows us to reach at a stage wherein we can provide our clients best and accurate investment to output ratio.
Each report that we prepare takes a timeframe of 350-400 business hours for production. Starting from the selection of titles through a couple of in-depth brain storming session to the final QC process before uploading our titles on our website we dedicate around 350 working hours. The titles are selected based on their current market cap and the foreseen CAGR and growth.
The 5 steps process:
Step 1: Secondary Research:
Secondary Research or Desk Research is as the name suggests is a research process wherein, we collect data through the readily available information. In this process we use various paid and unpaid databases which our team has access to and gather data through the same. This includes examining of listed companies’ annual reports, Journals, SEC filling etc. Apart from this our team has access to various associations across the globe across different industries. Lastly, we have exchange relationships with various university as well as individual libraries.
Step 2: Primary Research
When we talk about primary research, it is a type of study in which the researchers collect relevant data samples directly, rather than relying on previously collected data. This type of research is focused on gaining content specific facts that can be sued to solve specific problems. Since the collected data is fresh and first hand therefore it makes the study more accurate and genuine.
We at SNS Insider have divided Primary Research into 2 parts.
Part 1 wherein we interview the KOLs of major players as well as the upcoming ones across various geographic regions. This allows us to have their view over the market scenario and acts as an important tool to come closer to the accurate market numbers. As many as 45 paid and unpaid primary interviews are taken from both the demand and supply side of the industry to make sure we land at an accurate judgement and analysis of the market.
This step involves the triangulation of data wherein our team analyses the interview transcripts, online survey responses and observation of on filed participants. The below mentioned chart should give a better understanding of the part 1 of the primary interview.
Part 2: In this part of primary research the data collected via secondary research and the part 1 of the primary research is validated with the interviews from individual consultants and subject matter experts.
Consultants are those set of people who have at least 12 years of experience and expertise within the industry whereas Subject Matter Experts are those with at least 15 years of experience behind their back within the same space. The data with the help of two main processes i.e., FGDs (Focused Group Discussions) and IDs (Individual Discussions). This gives us a 3rd party nonbiased primary view of the market scenario making it a more dependable one while collation of the data pointers.
Step 3: Data Bank Validation
Once all the information is collected via primary and secondary sources, we run that information for data validation. At our intelligence centre our research heads track a lot of information related to the market which includes the quarterly reports, the daily stock prices, and other relevant information. Our data bank server gets updated every fortnight and that is how the information which we collected using our primary and secondary information is revalidated in real time.
Step 4: QA/QC Process
After all the data collection and validation our team does a final level of quality check and quality assurance to get rid of any unwanted or undesired mistakes. This might include but not limited to getting rid of the any typos, duplication of numbers or missing of any important information. The people involved in this process include technical content writers, research heads and graphics people. Once this process is completed the title gets uploader on our platform for our clients to read it.
Step 5: Final QC/QA Process:
This is the last process and comes when the client has ordered the study. In this process a final QA/QC is done before the study is emailed to the client. Since we believe in giving our clients a good experience of our research studies, therefore, to make sure that we do not lack at our end in any way humanly possible we do a final round of quality check and then dispatch the study to the client.
The Telecom Billing and Revenue Management Market size was valued at USD 13.01 Billion in 2023 and is expected to reach USD 26.67 Billion by 2031 and grow at a CAGR of 9.39% over the forecast period 2024-2031.
The Video as a Service Market size was valued at USD 4.84 billion in 2023 and is expected to grow to USD 10.22 billion by 2032 and grow at a CAGR of 8.66 % over the forecast period of 2024-2032.
The Passenger Information System Market size was valued at USD 28.9 Bn in 2023 and is expected to reach USD 83.42 Bn by 2032 and grow at a CAGR of 12.5% over the forecast period 2024-2032.
The Wearable Payments Market Size was valued at USD 632.5 Billion in 2023 and is expected to reach USD 2984.1 Billion by 2031 and grow at a CAGR of 21.4% over the forecast period 2024-2031.
The Smart Home Market size was valued at USD 80.19 Billion in 2023 and is expected to grow to USD 354.1 Billion By 2031 and grow at a CAGR of 20.4% over the forecast period of 2024-2031.
The AI in Fintech Market Size was valued at USD 11.89 Billion in 2023 and is expected to reach USD 41.5 Billion by 2031 and grow at a CAGR of 17.05 % over the forecast period 2024-2031.
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