LONDON--(BUSINESS WIRE)--According to the latest procurement intelligence report from Technavio, the global business valuation services market is expected to grow at a CAGR of 7.53% over the next five years due to the growing need to improve business performance and increase the financial value of businesses.
The research report titled ‘Global Business Valuation 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 regional economic conditions also impact the price sensitivity of buyers, thus driving them to weigh the options of procuring limited over comprehensive business valuation services,” says lead Technavio procurement specialist Angad Singh for category spend intelligence. “In addition, buyers expect high accuracy in the services and assistance offered by suppliers to obtain insights on the measures taken to increase the worth of their businesses,” adds Angad.
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Cost saving opportunities in the global business valuation services market
The adoption of various cost-optimization levers helps buyers of business valuation 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 valuation 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
Suppliers use analytics solutions to obtain better insights and forecasts based on buyers' historical financial performance, market data, and economic information. Analytics solutions help in business planning, transaction analysis, and operational and financial performance forecasting.
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Optimization of procurement practices saving aspects
Buyers need to collaborate with suppliers for using multiple business valuation methods to cross-check the results.
Buyers should also focus on providing the details on unrecorded assets and liabilities to suppliers to derive an accurate valuation. For instance, although the unrecorded information such as customer relationship, trade name, training level of the workforce, and pending lawsuits do not appear directly in the financial statements, the level of influence of such factors over the value of a business is significant.
Bundling of services saving aspects
Bundling of services such as assistance in redesigning and restructuring business operations and providing related insights by suppliers can save up to 10% of the total bundled spend area for the buyers and increase sales for the suppliers.
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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, resellers, and end-users.
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