[May 29, 2017] |
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Cost Saving Opportunities for the Global Learning and Development Services Market: Technavio
According to the latest procurement intelligence report from Technavio,
the global
learning and development services market is expected to grow at
a CAGR of 7.9% over the next five years due to the need to improve and
retain global talent.
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Technavio has published a new report on the global learning and development services market from 2017-2021. (Photo: Business Wire)
The research report titled 'Global
Learning and Development Services Market: Procurement Market
Intelligence Report 2017-2021' provides an in-depth analysis of
category spend, best procurement practices and cost saving
opportunities, aimed at helping organizations achieve superior business
performance. The report also provides insights on pricing, supplier
positioning, and top companies, enabling sourcing professionals to
improve their competitive advantage through procurement excellence.
"The global learning and delivery services market is expected to
grow because of the advances in technology in cloud-based platforms and
mobile learning," says lead Technavio procurement specialist
Angad Singh for category
spend intelligence. "Large organizations opt for service
providers that can help reduce administration processes by eliminating
the use of internal resources while formulating the L&D program and its
evaluation in an automated process," adds Angad.
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Cost saving opportunities in the global learning and development
services market
The adoption of various cost-optimization levers helps buyers of
learning and development services realize direct cost savings and
enhance category management and value benefits (including reduced
procurement complexities).
Technavio procurement experts have segmented the cost saving
opportunities in the global learning and development services market
into the following value-enhancement opportunities:
-
Adoption of technology
-
Supplier Competition
-
Adoption of negotiation strategies
-
Optimization of procurement practices
-
Bundling of services
Adoption of technology saving aspects
Online learning portals are becoming increasingly popular platforms that
are used by suppliers to upload training materials to be used by buyers'
employees based on individual requirements.
Also, with the increased use of digital learning activities, buyers
gather and analyze data from training programs using big data and other
analytical tools.
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Optimization of procurement practices saving aspects
Buyers prefer to streamline their training process at a global level.
Therefore, buyers seek services that help in the centralization of their
learning processes through cloud-based platforms.
Additionally, category managers should evaluate the RFQ's from suppliers
against the industry benchmarks because this helps buyers to gain a
better understanding of the market prices and save cost.
Bundling of services saving aspects
Buyers can ensure cost savings by bundling services such as
installation, custom content development, user and administration
training, and technical support.
Bundling L&D service with other talent management services or HR
services like workforce management and time and attendance management is
another key cost saving aspect of the learning and development services
market.
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About Technavio
Technavio
is a leading global technology research and advisory company. The
company develops over 2000 pieces of research every year, covering more
than 500 technologies across 80 countries. Technavio has about 300
analysts globally who specialize in customized consulting and business
research assignments across the latest leading edge technologies.
Technavio analysts employ primary as well as secondary research
techniques to ascertain the size and vendor landscape in a range of
markets. Analysts obtain information using a combination of bottom-up
and top-down approaches, besides using in-house market modeling tools
and proprietary databases. They corroborate this data with the data
obtained from various market participants and stakeholders across the
value chain, including vendors, service providers, distributors,
resellers, and end-users.
If you are interested in more information, please contact our media team
at [email protected].
View source version on businesswire.com: http://www.businesswire.com/news/home/20170529005158/en/
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