SpendEdge has been monitoring the global business operations consulting services market and the market is poised to experience spend growth of more than USD 18 billion between 2018-2023 at a CAGR of over 4% during the forecast period. Request Free Sample Pages.
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SpendEdge, a global procurement market intelligence firm, has announced the release of its Global Business Operations Consulting Services Market – Procurement Intelligence Report. (Graphic: Business Wire)
Read the 130-page research report with TOC and LOE on “The Global Business Operations Consulting Services Market – Procurement Intelligence Report, Pricing Outlook in Geographies that include APAC, North America, South America, and MEA, and insights into best practices to optimize procurement spend.”
Embracing advanced technologies such as cloud computing, robotics, blockchain, Big Data, digital technologies, among others are considered pivotal in an organization’s business strategy to improve its business performance and streamline operational processes. This drive towards technology adoption will boost the growth scopes of business operations consulting service providers whose function is to aid organizations in their technology drive by embedding agile capabilities into the organization’s processes. They leverage advanced analytics tools to predict the impact of buyer’s digital strategy and guide them to remodify their strategies accordingly. This will drive spend momentum in the market.
In terms of spend share, North America will lead the global business operations consulting services market. This position will be cemented by the rapid adoption of technology by the healthcare, retail, non-durable manufacturing, construction, and IT sectors in the US. In APAC, the need to be at par with the dynamic consumer behavior will compel the retail sector to procure from business operations consulting service providers. This will drive investments in the business operations consulting services market in APAC.
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Insights into the market pricing trends
- Service providers will tackle high employee expenses to retain experienced professionals who are indispensable in delivering quality services. According to the business operations consulting service price trends, this will impact the procurement price in the market.
- The high level of competition in the market is expected to necessitate business operations consulting service providers to invest in marketing strategies that will help them attract new buyers. This will further propel the overall price structure.
What are the strategies to adopt to optimize procurement spend in this market?
The business operations consulting services price trends imply a substantial increase in service provider’s OPEX which will result in a gradual decline in their profit margin. To compensate for this, service providers are expected to increase the prices of their services. In view of this, this procurement intelligence report has listed the top business operations consulting service providers, SLA agreement insights, and the selection and negotiation strategies that buyers must undertake to achieve optimal procurement in this market.
Partner with service providers who offer strategic cost transformation
The adoption of strategic cost transformation methodologies ensures that the buyer’s investments are aligned to the corporate strategy with a strong focus on capacity building and performance improvement. These methodologies include structural and organization-wide changes that facilitate sustainable cost savings and improvements in the margin. They also help buyers focus on different cost challenges at hand.
Engage with service providers who possess a clear understanding of market trends
It is imperative for buyers to engage with service providers who have relevant knowledge about industry trends and different operating and emerging engagement models between buyers and their distributors. This is especially relevant for FMCG and retail businesses. Service providers must have their consultants participate in events on the industry outlook and regularly follow emerging technologies and practices that can be used for delivering effective operations management consulting services to buyers’ industries.
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Some of the key topics covered in this report are:
- Business operations consulting services market spend segmentation by region
- Total cost of ownership analysis in the business operations consulting services market
- Regional spend opportunity for business operations consulting service providers
- Business operations consulting service providers cost structures
- Business operations consulting services pricing models analysis
- Business operations consulting services procurement best practices
- Category management objectives
- Cost saving opportunities in the business operations consulting services market
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