LONDON--(BUSINESS WIRE)--Global procurement intelligence advisory firm, SpendEdge, has announced the release of their ‘Freight Payment 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 financial services industry. This report breaks down the data and analysis behind the procurement of freight services and acts as an all-inclusive guide for making smart purchasing decisions.
“The growth of the global freight payment services market can be attributed to an increase in the need for expertise to provide cost-effective logistics solutions,” says SpendEdge procurement research analyst Tridib Bora. “Growth in the adoption of technological innovations to reduce the scope of human error and to optimize the level of services provided have also lead to the market growth across geographies,” 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 global freight services market is expected to grow at an accelerated rate over the forecast period due to various factors that contribute to its growth. Technological advancements and use of applications such as TMS focus on efficient route planning to reduce transport costs. Freight service providers have been providing industry solutions that can be easily integrated into the businesses' value chain. Hence, they enhance the potential for tapping high-growth markets where there is an increasing demand for streamlining of freight payments.
- Procurement managers need to engage with suppliers who offer automated services such as invoice generation, bill payments, selection of the best rates, route optimization, and minimize the labor requirements and scope for human error. The buyers 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 major challenge that buyers face in procuring freight payment services is the pilferage of funds by suppliers. Therefore, the buyers need to consider timely auditing of freight payment services externally to ensure there is no misallocation of funds.
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Freight Payment Services Market Pricing Trends
The perpetual based pricing model and subscription licensing are the two widely adopted pricing models in the global freight payment services industry. The perpetual based pricing model offers low costs as single time payment is required and also regular updating is not required. The subscription licensing pricing model offers a huge amount of flexibility for users due to minimal to zero initial investment. The fixed pricing and transactional pricing model are the other prevalent pricing models in the global freight payment services market.
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