SpendEdge, a global procurement market intelligence firm, has announced the release of its Global Incident and Emergency Management Software Market – Procurement Intelligence Report.
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One of the imposing post-procurement challenges faced by buyers in the incident and emergency management software market is the difficulty to integrate the software into their existing system infrastructure. While investing in this software itself is a costly proposition, the integration of the same requires the buyers to upgrade their existing systems in terms of hardware and software which is another major addition to the procurement expenditure. This is one of the imposing challenges which will negatively impact the spend growth of the incident and emergency management software market that has the potential to touch a value of over USD 30 billion accelerating at a CAGR of over 6% through 2024. This spend growth will be primarily attributed to the increasing demand in smart cities to enhance public safety.
According to the observations that this report discusses, such an additional spend on upgrading the existing system infrastructure can be avoided by partnering with incident and emergency management software suppliers who specialize in cloud-based incident and emergency management software solutions. These solutions will save buyers a significant portion of their category procurement cost as the software is stored remotely and does not require local hardware or associated floor space or utilities.
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What do the incident and emergency management software price trends indicate?
- The incident and emergency management software price trends hint at a potential increase in buyer’s TCO owing which will be a direct impact of suppliers OPEX in this market. In a bid to automate their software development process and minimize the manual intervention, requirement, suppliers are investing in the latest technologies, such as AI and Big data analytics, which are driving their technology expenses.
- Incident and emergency management software suppliers typically incur significant expenditure on employees that include hefty compensation for software architects, software engineers, principal software engineers, and IT consultants. The incident and emergency management software price trends indicate that this will have an inflationary impact on the buyer’s procurement spend.
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How to identify incident and emergency management software suppliers who can cater to your procurement needs while adding value to your business?
Suppliers play prominent roles in aiding buyers to secure sustainable category management even in markets that are ruled by frequent dynamism. With their industry-specific knowledge, they are well-acquainted with the cost-saving avenues and the potential risks which they pass on to the buyers who seek cost-effective procurement in markets.
Engage with suppliers that have high capabilities in hardware and software
It is recommended that buyers partner with suppliers who have expertise in providing incident and emergency management software and hardware solutions as they help buyers increase integration and operational efficiency. For instance, Honeywell’s expertise in both hardware and software solutions, coupled with its excellent relationships with ICT and telecoms providers, helps the company offer a comprehensive set of emergency management solutions.
Identifying unique business requirements prior to engaging with suppliers
The accessibility and use of incident and emergency management solutions vary across organizations, functions, and multiple departments. For instance, some users will need advanced predictive risk mitigation functionalities, while others may need access to basic access control and perimeter surveillance systems. Buyers must group these pre-defined business requirements to their unique risk mitigation requirements and engage with incident and emergency management software suppliers accordingly.
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Some of the key topics covered in this report are:
- Incident and emergency management software market spend segmentation by region
- Total cost of ownership analysis in the incident and emergency management software market
- Regional spend opportunity for incident and emergency management software suppliers
- Incident and emergency management software suppliers cost structure
- Incident and emergency management software suppliers selection criteria
- Incident and emergency management software suppliers under coverage
- Procurement best practices
- Category management objectives
- Cost saving opportunities in the incident and emergency management software market
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