LONDON--(BUSINESS WIRE)--According to the latest procurement intelligence report from Technavio, the global corporate strategy consulting services market is expected to grow at a CAGR of almost 7% over the next five years due to the growing need of organizations to expand globally.
The research report titled ‘Global Corporate Strategy Consulting Services Market: Procurement 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 global corporate strategy consulting services market represents approximately 14% of the global consulting market, owing to high demand for the development of the strategy and execution of strategic plans in emerging markets for strategic decision making,” says lead Technavio procurement specialist Angad Singh for category spend intelligence. “The corporate strategy consulting services industry constitutes a large number of strategy consulting firms worldwide with a few top players that dominate the market due to their extensive global reach and reputation,” added Angad.
Looking for more information on this market? Request a free sample report
Technavio sample reports are free of charge and contain multiple sections of the report including the market size and forecast, drivers, challenges, trends, and more.
Cost Saving Opportunities in Corporate Strategy Consulting Services
The adoption of cost optimization levers allows buyers of corporate strategy consulting services realize direct cost savings as well as enhance category management and value benefits (including reduced procurement complexities).
Technavio procurement experts have segmented the cost saving opportunities in the corporate strategy 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
Portfolio analyzer is a user-friendly iPad application that helps buyers to view the visual representation of their current portfolio and the potential portfolio for expansion. In addition, the application helps to identify high-growth and high-profit businesses and buyer's level of current investments. Also, the application allows buyers to change assumptions about market growth and other performance variables to see how it affects their portfolio overall.
Analytics and information management helps organizations maximize the potential of analytics and Big Data to deliver operational excellence, new products and services, and competitive agility and growth. Approaches include adopting shape strategy, managing data, delivering information, improving performance, and optimizing insights.
View our subscription bundles to discover more cost saving opportunities: Request for demo
Optimization of procurement practices saving aspects
Buyers should clearly define the issues and its background in which the strategy must be formulated. Buyers should appoint a project manager for maintaining a complete record of the project and all its variations along with records of payments. Also, the project manager will facilitate review meetings between the consultants and the client personnel specified in the contract.
Bundling of services saving aspects
Businesses seek to continuously innovate their products and services to remain competitive in the market. Therefore, they focus on formulating strategies for new product development, which involves construction, packaging, branding, product positioning, and usage testing.
Buyers prefer engaging with firms that have consultants with required skills such as content skills, people skills, learning capability, and resources management. In addition, buyers seek for capabilities such as the ability to collaborate with clients and colleagues and have creativity skills, intellectual energy, critical thinking, and economic knowledge.
Browse other reports:
- Global Software Maintenance Market - Procurement Market Intelligence Report 2017-2021
- Global Employee Relocation Services Market - Procurement Market Intelligence Report 2017-2021
- Global Health and Wellness Services Market - Procurement Market Intelligence Report 2017-2021
Become a Technavio Insights member and access all three of these reports for a fraction of their original cost. As a Technavio Insights member, you will have immediate access to new reports as they’re published in addition to all 6,000+ existing reports. This subscription nets you thousands in savings, while staying connected to Technavio’s constant transforming research library, helping you make informed business decisions more efficiently.
Technavio is a leading global technology research and advisory company. The company develops over 2000 pieces of research every year, covering more than 500 technologies across 80 countries. Technavio has about 300 analysts globally who specialize in customized consulting and business research assignments across the latest leading edge technologies.
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.
If you are interested in more information, please contact our media team at firstname.lastname@example.org.