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According to Technavio’s sourcing software market forecast report, this industry will grow at a steady rate and register a CAGR of more than 8% during the forecast period. The increasing demand for automation of sourcing processes is one of the primary factors that will drive the global sourcing software market’s growth in the coming years. Some of the major applications of sourcing processes are invoice RFx, supplier-bidding, supplier evaluation, supplier negotiation and supplier selection, and other sourcing related activities. Automating sourcing activities helps prevent loss at various stages of the sourcing process, prevents manual errors in supply chain systems, and helps gain visibility in the end-to-end supply chain management systems.
The upsurge of cloud-based sourcing software is one of the key sourcing software market trends that will drive the growth prospects of the global sourcing software market until the end of 2021. The cloud-based sourcing software involves minimal upfront investments and offers a pay-per-use billing model for IT-related services such as computing power, storage, network bandwidth, security, platforms, and SaaS.
PART 01: Executive summary
PART 02: Scope of the report
PART 03: Research Methodology
PART 04: Introduction
PART 05: Market Landscape
PART 06: Five forces model
PART 07: Market segmentation by end-user
PART 08: Geographical segmentation
PART 09: Market drivers
PART 10: Impact of drivers
PART 11: Market challenges
PART 12: Impact of drivers and challenges
PART 13: Market trends
PART 14: Vendor landscape
PART 15: Vendor analysis
PART 16: Appendix
PART 17: Explore Technavio
Tags: sourcing process, open source software, it consulting services, it outsourcing companies, data center industry overview, data center industry size,
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