LONDON--(BUSINESS WIRE)--SpendEdge has been monitoring the global IT software market and the market is poised to experience spend growth of more than USD 600 billion between 2019-2024 at a CAGR of more than 4% during the forecast period. Request Free Sample Pages.
Read the 121-page research report with TOC and LOE on "The Global IT Software Market – Procurement Intelligence Report, Pricing Outlook in Geographies that include APAC, North America, South America, and MEA, top suppliers, supplier selection and negotiation strategies, and insights into best practices to optimize procurement spend.”
The incremental spend exhibited by buyers from the BFSI and retail sectors are the prime factor contributing to the increase in spend growth in the global IT software market. The popularity of relationship-based selling among buyers from the BFSI and retail sectors is driving the application of IT software that aids in identifying customer profiles to drive sales.
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The Top IT Software Suppliers Enlisted in this Report:
This report has listed the top IT Software suppliers, SLA agreement insights, and the selection and negotiation strategies that buyers must undertake to achieve optimal and cost-effective procurement in this market. Insights into some of the suppliers are given below:
Microsoft Corp – Procurement and maintenance of IT software is a costly proposition in general and this expense can spiral over the period. This makes it imperative for buyers to perform a comprehensive TCO calculation of this supplier’s offerings prior to the selection. Buyers must factor in the expected cost considerations with respect to technical support, maintenance fee, future upgrade cost, and manpower requirement cost in the TCO. It is also crucial for buyers to analyze SLAs for identifying hidden costs that can impact their TCO.
Oracle Corp - In order to ensure the procurement of the best-fit, tailored, or customized software solutions that can meet needs, buyers must perform on-site testing and seek a collaborative trial period before finalizing a contract with this supplier. Buyers are suggested to insist on getting service credits to reduce their costs during downtime.
Accenture Plc – Considering the complexity of the execution of software, buyers face a perpetual need to encounter a need for processes such as employee training, which require substantial investment if performed in-house. On this note, buyers are advised to collaborate with this supplier to bundle support services such as employee training along with the procurement of this product.
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Some of the key topics covered in this report are:
- IT software market spend segmentation by region
- IT software supply market analysis
- Regional spend opportunity for IT software suppliers
- IT software suppliers cost structure
- Total cost of ownership analysis in the IT software market
- IT Software pricing models analysis
- Category management objectives
- Cost saving opportunities in the IT software market
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