Global Business Spend Management (BSM) Software Market to 2028: Streamlining the Business Processes to Optimize Spending
DUBLIN, Oct. 23, 2020 /PRNewswire/ -- The "Business Spend Management (BSM) Software Market Size, Market Share, Application Analysis, Regional Outlook, Growth Trends, Key Players, Competitive Strategies and Forecasts, 2020 To 2028" report has been added to ResearchAndMarkets.com's offering.
Streamlining the business processes to optimize the spending is improving adoption of BSM software worldwide
The overall business spend management software market is fragmented and market players are focusing on advancing their current technology and partnering with other companies to grab a major share of the market. For instance, in November 2019, American Express partnered with Coupa Software Inc. to launch virtual AmEx on Coupa's BSM platform. With this new virtual card, businesses can pay for its goods and services through the Coupa platform.
Key Industry Development:
In December 2019, BT Group selected Ariba Inc. as its technology partner to deploy its technology across its businesses that include, finance, procurement, and workforce management. This will help BT Group to manage its spending in a better way and increase the client base of Ariba Inc.
In November 2019, Serco Group plc. selected GEP as a strategic partner to manage its procurement services. This cloud-based, AI-powered digital platform will be used for direct and indirect procurement. With this partnership, GEP expected to increase market share in the near future.
Historical & Forecast Period
The research report presents the analysis of each segment from 2018 to 2028 considering 2019 as the base year for the research. Compounded annual growth rate (CAGR) for each respective segment calculated for the forecast period from 2020 to 2028.
The current report also comprehends qualitative market valuation factors such as key market drivers, market trends, restraints, and opportunities that give a better market understanding of the global business spend management software market. Additionally, the global report also comprises a graphical representation of a competitive landscape based on their market initiatives and strategies, product portfolio, and business strengths.
Key questions answered in this report
Key Topics Covered:
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