Business Spend Management Software Market Report, by Component (Software/Platform, and Services), by Deployment Type (On-Premise, and SaaS), by Enterprise Size (SME’s, and Large Enterprises), by Solution (Contract & Tender Management, Procure-to-Pay Solut

Business Spend Management Software Market Report, by Component (Software/Platform, and Services), by Deployment Type (On-Premise, and SaaS), by Enterprise Size (SME’s, and Large Enterprises), by Solution (Contract & Tender Management, Procure-to-Pay Solutions, Travel & Expense Management, Supplier & Risk Management, and Spend Management/Spend Analytics), by End-use Industry (BFSI, Education, Energy & Utility, Healthcare, Hospitality, IT & Telecom, Manufacturing, and Retail), and by Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa) - Size, Share, Outlook, and Opportunity Analysis, 2022 - 2028

Effective spend management means managing the end-to-end procurement process, managing the supply chain, managing the contracts & tenders, and managing the invoice effectively. It means identifying organizational spend that must be brought under management, and building a strategic savings plan, and actively taking control of that spend to drive realized savings.
Market Dynamics
Growth of the global business spend management software market is attributed to the rising adoption of business spend management software across various End-use industries such as BFSI, automobile, retail, for managing expenses through a single platform. Moreover, organizations across the globe are adopting the SaaS-based deployment solutions as it provides faster deployment and agility compared to on- premise deployment. Moreover, business spend management software provider companies are offering cloud-based solutions that can be integrated with the company’s existing business management platforms, thereby eliminating hardware, software, and internal IT requirements which is expected to boost demand for business spend management solutions. For instance, Coupa’s cloud-based business spend management solutions can be integrated with multiple enterprise resource planning (ERP) solutions such as SAP ERP and Oracle ERP.
However, data security concerns in cloud-based software are some of the major challenges that are expected to hamper the demand for business spend management software. Cloud-based business spend solutions store highly sensitive data related to procurement, contracts, tenders, supply chain, and other business expenses on servers. If data belonging to multiple companies is hacked, the information of companies can be leaked throughout the server and can negatively impact companies’ reputation.

Key features of the study:
This report provides in-depth analysis of business spend management software market size (US$ Million), and Compound Annual Growth Rate (CAGR %) for the forecast period (2022-2028), considering 2021 as the base year
It elucidates potential revenue opportunity across different segments and explains attractive investment proposition matrix for this market
This study also provides key insights about market drivers, restraints, opportunities, new product launches or approvals, regional outlook, and competitive strategy adopted by leading players
It profiles leading players in the global business spend management software market based on the following parameters – company overview, financial performance, product portfolio, geographical presence, business spend management software market capital, key developments, strategies, and future plans
Companies covered as part of this study include Advanced, Ariba, Inc. (SAP SE), Coupa Software Inc, GEP, Procurify, Sage Intacct, Inc. (The Sage Group PLC), Sievo, SutiSoft, Inc., TOUCHSTONE GROUP PLC, VA Tech Ventures Pvt Limited (Happay), and others
Insights from this report would allow marketers and management authorities of companies to make informed decision regarding future product launches, product upgrades, market expansion, and marketing tactics
The global business spend management software market report caters to various stakeholders in this industry including investors, suppliers, manufacturers, distributors, new entrants, and financial analysts
Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global business spend management software market.
Detailed Segmentation:
Global Business Spend Management Software Market, By Component:
Software/Platform
Services
Global Business Spend Management Software Market, By Enterprise Size:
SME’s
Large Enterprises
Global Business Spend Management Software Market, By Deployment Type:
On-Premises
SaaS
Global Business Spend Management Software Market, By Solution:
Contract & Tender Management
Procure-to-Pay Solutions
Travel & Expense Management
Supplier & Risk Management
Spend Management/Spend Analytics
Global Business Spend Management Software Market, By End-use Industry:
BFSI
Education
Energy & Utility
Healthcare
Hospitality
IT & Telecom
Manufacturing
Retail
Global Business Spend Management Software Market, By Region:
North America
By Component:
Software/Platform
Services
By Enterprise Size:
SMEs
Large Enterprises
By Deployment Type:
On-Premise
SaaS
By Solution:
Contract & Tender Management
Procure-to-Pay Solutions
Travel & Expense Management
Supplier & Risk Management
Spend Management/Spend Analytics
By End-use Industry:
BFSI
Education
Energy & Utility
Healthcare
Hospitality
IT & Telecom
Manufacturing
Retail
By Country:
U.S.
Canada
Europe
By Component:
Software/Platform
Services
By Enterprise Size:
SMEs
Large Enterprises
By Deployment Type:
On-Premise
SaaS
By Solution:
Contract & Tender Management
Procure-to-Pay Solutions
Travel & Expense Management
Supplier & Risk Management
Spend Management/Spend Analytics
By End-use Industry:
BFSI
Education
Energy & Utility
Healthcare
Hospitality
IT & Telecom
Manufacturing
Retail
By Country:
U.K.
Germany
Italy
France
Spain
Russia
Rest of Europe
Asia Pacific
By Component:
Software/Platform
Services
By Enterprise Size:
SMEs
Large Enterprises
By Deployment Type:
On-Premise
SaaS
By Solution:
Contract & Tender Management
Procure-to-Pay Solutions
Travel & Expense Management
Supplier & Risk Management
Spend Management/Spend Analytics
By End-use Industry:
BFSI
Education
Energy & Utility
Healthcare
Hospitality
IT & Telecom
Manufacturing
Retail
By Country:
China
India
Japan
Australia & New Zealand
South Korea
Rest of Asia Pacific
Latin America
By Component:
Software/Platform
Services
By Enterprise Size:
SMEs
Large Enterprises
By Deployment Type:
On-Premise
SaaS
By Solution:
Contract & Tender Management
Procure-to-Pay Solutions
Travel & Expense Management
Supplier & Risk Management
Spend Management/Spend Analytics
By End-use Industry:
BFSI
Education
Energy & Utility
Healthcare
Hospitality
IT & Telecom
Manufacturing
Retail
By Country
Brazil
Mexico
Argentina
Rest of Latin America
Middle East & Africa
By Component:
Software/Platform
Services
By Enterprise Size:
SMEs
Large Enterprises
By Deployment Type:
On-Premise
SaaS
By Solution:
Contract & Tender Management
Procure-to-Pay Solutions
Travel & Expense Management
Supplier & Risk Management
Spend Management/Spend Analytics
By End-use Industry:
BFSI
Education
Energy & Utility
Healthcare
Hospitality
IT & Telecom
Manufacturing
Retail
By Country
GCC Countries
South Africa
Rest of Middle East & Africa
Company Profiles
Advanced *
Company Overview
Product Portfolio
Financial Performance
Key Strategies
Recent Developments/ Updates
Ariba, Inc. (SAP SE)
Coupa Software Inc
GEP
Procurify
Sage Intacct, Inc. (The Sage Group PLC)
Sievo, SutiSoft, Inc.
TOUCHSTONE GROUP PLC
VA Tech Ventures Pvt Limited (Happay)
Others
“*” marked represents similar segmentation in other categories in the respective section.