LONDON--(BUSINESS WIRE)--Global procurement intelligence advisory firm, SpendEdge, has announced the release of their 'Global Learning and Development 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 learning and development services and acts as an all-inclusive guide for making smart purchasing decisions.
"The growth of the global learning and development services market can be attributed to the increased spend on selective functions of learning services like content development administrative services, and planning and scheduling of training program," says SpendEdge procurement research analyst Tridib Bora. "Corporates across the globe are moving toward innovative ways of training to add value and reduce costs for the business," 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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- The growth of the learning and development services market can be attributed to the emergence of video (virtual classes) as the dominant approach to mobile learning. This has helped L&D service providers to drive the market by delivering cost-efficient and time-saving training across all fields. Moreover, the corporates from developed economies are hiring top talents from regional companies that are based in countries such as India, Philippines, Japan, and China. This has further added to the demand for training and retaining employees.
- Procurement managers should engage with suppliers that can provide cost-efficient L&D services by incorporating technology like SaaS and use of analytics to gain insights on learners' behavior and to deliver effective learning. Also since SaaS provides a unified platform for learning where both instructor and learner can interact from remote locations and share information. Thereby helping to save time and cost for buyers.
- The major challenges faced by buyers in this market include challenges in terms of effective delivery of learning services, data security, aligning learning goals with business goals, and reducing the administrative resources required during the service. Therefore to overcome the obstacles buyers should engage with suppliers that have a proven track record in the efficient use of resources.
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Learning and Development Services Market Pricing Trends
The module-based pricing model is most adopted pricing model because there is flexibility in the selection and modification of modules based on buyer requirements. The fixed-fee model and FTE- based pricing model, are the other pricing models that find comparable adoption in the L&D services market. The fixed-fee pricing model is more suitable for small-scale firms where requirements are limited whereas the FTE-based pricing model offers the buyers the advantage of reduced legal complexities.
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