LONDON--(BUSINESS WIRE)--According to the latest procurement intelligence report from Technavio, the global business operations consulting services market is expected to grow at a CAGR of 4.7% over the next five years due to the demand for cost-cutting and downsizing in different processes.
The research report titled ‘Global Business Operations Consulting Services Market 2017-2021: 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.
“During the forecast period, the global business operations consulting services market is expected to emerge as one of the largest segments of the global consulting market, accounting for approximately 30% of the market in 2016,” says lead Technavio procurement specialist Angad Singh for category spend intelligence. “In addition, the need to improve revenue growth and support effective cost-cutting mechanisms, will also drive the market,” adds Angad.
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Cost saving opportunities in the global business operations consulting services market
The adoption of various cost-optimization levers helps buyers of global business operations consulting 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 business operations consulting 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
Adoption of technologies such as advanced data analytics and visualization tools, LSS, and performance improvement diagnostic tools can help realize cost-savings to the extent of 10% of total category spend.
Organizations are looking to build and implement cost-reduction initiatives to build strengths and capabilities that are important to meet strategic objectives
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Optimization of supplier competition saving aspects
Business operations consulting firms are investing in high quality talent that has a wide range of experience in operations across industries. They are developing unique models to assess different operating structures. This enhances the quality of solutions available to the buyers.
Operations consultants can overturn significant supply chain challenges into opportunities for revenue acceleration, boost customer satisfaction, and minimize the threat of operational risk.
Bundling of services saving aspects
One of the most opportunistic strategic cost saving levers in the global business operations consulting services market is the bundling of different consulting services such as management, strategy, and HR consulting services. Operations consultants help organizations understand the impact of high-value decisions on their bottom-line. This helps in ensuring that those decisions are taken effectively.
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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, re-sellers, and end-users.
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