LONDON--(BUSINESS WIRE)--Global procurement intelligence advisory firm, SpendEdge, has announced the release of their ‘Global Background Check Services Market Procurement Research Report.' The insights and data in this report provide a strategic analysis of the supply markets, factors influencing purchasing decisions, procurement best practices, pricing models, supplier landscape, and an analysis of the supplier capability matrix for the corporate services industry. This report breaks down the data and analysis behind the procurement of background check services and acts as an all-inclusive guide for making smart purchasing decisions.
“The growth of the global background check services market can be attributed to growing number of stringent regulations and the rise in risk to the safety of employees in the work environment,” says SpendEdge procurement research analyst Tridib Bora. “The market is also experiencing a growth in the adoption of technological innovations to reduce the scope of human error,” added Tridib.
Key Report Features
| Supply Market Insights | Negotiation Strategies | |
| Procurement Best Practices | Category Risk Analysis | |
| Cost Saving Opportunities | Key Supplier Analysis | |
| Pricing Models | Supplier Capability Matrix | |
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Report Insights
- The global background check services market is expected to grow at an accelerated rate over the forecast period. With increasing amount of outsourcing and globalization, players need to ensure that they adhere to local background screening regulations while recruiting talent and onboarding vendors in the region, as there exist different regulations for background check services across multiple geographies.
- Procurement managers should adopt systematic procurement practices that allow them to gain better control over suppliers, irrespective of the prevalent market forces. This helps them attain better management of expenses and quality of service delivery. The buyers should also consider engaging with suppliers that use social security number to check potential criminal records, financial frauds, and other details of candidates.
- One of the procurement challenges in this market is mistaken identity during a background check. Therefore, to avoid such obstacles, buyers need to ensure that the suppliers track the identity of individuals using unique documents such as passport and social security numbers, which helps to minimize these mistakes.
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Global Background Check Services Market Pricing Trends
The subscription-based pricing and transactional-based pricing are the two widely adopted pricing models in the background check services industry. The subscription-based model offers a huge amount of flexibility for users due to minimal to zero initial investment whereas the transactional-based pricing model is beneficial when procuring services that have standard specifications. It is also easy to implement.
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About SpendEdge
SpendEdge shares your passion for driving sourcing and procurement excellence. We are a preferred procurement intelligence partner for Fortune 500 firms and other leading companies across numerous industries. Our strength lies in delivering robust, real-time procurement market intelligence that helps sourcing and procurement professionals make informed decisions. These innovative procurement solutions help enterprises transform structural capabilities, improve execution efficiency, and fast-track time to savings.
