Top Companies in Tail Spend Management Solutions Market | Major Players of Industry Statistics, Company Size & Share, Market Outlook, Forecast Report by Vantage Market Research
Benefits provided by tail spend management systems, such as improved customer experience, productivity, and efficiency, are some of the main drivers of market expansion.
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Market Overview
The Global Tail Spend Management Solutions Market was valued at USD 1.5 Billion in the year 2021 and is forecast to reach a value of USD 9.1 Billion by the year 2028. The Global Market is anticipated to grow to exhibit a Compound Annual Growth Rate (CAGR) of 35.1% over the forecast period. The Global Tail Spend Management Solutions Market is expected to witness significant growth during the forecast period. Tail spending management is in high demand among companies because it helps in ensuring the purchases comply with contracts and policies. The tail spending management program monitors, controls, and tracks transactions in real-time. Therefore, transaction issues can be identified and corrected before they are sent to the supplier.
The benefits of Tail Spend Management Solutions, such as increased productivity & efficiency, and improved customer experience, are some of the key factors highlighting market growth. Tail spends management solutions help procurement teams to focus on large contracts that add value to their business. In addition, these solutions help procurement teams to identify opportunities for continuous improvement. As a result, companies are demanding Tail Spend Management Solutions software to improve their procurement capabilities. Furthermore, increased procurement capacity can increase productivity by up to 20% for organizations.
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Some of the key players operating in the Tail Spend Management Solutions Market are listed below:
|
Company Name |
Revenue in the US |
|
$110 Million |
|
$1 Billion |
|
$12 Million |
|
$15 Million |
|
$4 Billion |
|
$12 Million |
|
$23 Million |
|
<$5 Million |
Headquartered in Cherry Hill, New Jersey, USA, Corcentric is a global provider of business spending and revenue management software and services for midsize and Fortune 1000 companies. Corcentric provides software, consulting services, and payments focused on reducing costs, optimizing working capital, and developing revenue.
Headquartered in Clark, New Jersey, USA, GEP provides innovative supply chain solutions that help improve global business agility and resilience, operate efficiently and effectively, achieve a competitive advantage, increase profitability and increase shareholder value. GEP is also regularly ranked as a leading supply chain consulting and strategic company, and a leading managed service provider by ALM, Everest Group, Nelson Hall, IDC, ISG, HfS, and others.
Headquartered in Boston, Massachusetts, USA, Fairmarkit is an intelligent sourcing platform that enables organizations to purchase the products and services they need more efficiently. By providing automation and data to procurement and supply chain teams, Fairmarkit facilitates competitive bidding while reducing manual labor within existing processes.
Headquartered in San Francisco, California, USA, Simfoni provides spending analysis and spending automation products to leading global companies. The Simfoni platform uses machine learning and artificial intelligence to accelerate and automate key aspects of the procurement process, saving customers time and money and paving the way for a sustainable supply chain. With offices in the United States, Europe, Australia, and the Middle East, Simfoni works with customers and a broad provider community to improve provider diversity and meet strategic corporate social responsibility goals.
Headquartered in London, England, Capita is a transformative digital services company that provides innovative solutions and simplifies the connections between businesses and their customers, governments, and citizens. The UK's largest business process outsourcing and professional services company, with an overall market share of 29% in 2016 and clients in the central, local, and private sectors. There is also the Real Estate and Infrastructure Consultants Division, the fourth largest interdisciplinary consultancy firm in the UK.
Headquartered in Wetherby, West Yorkshire, England, Proactis makes digital commerce available to everyone by giving organizations around the world 100% control over their spending. They work with customers to transform the Source pay process. Helps you save costs and achieve efficiency while increasing compliance and reducing risk from procurement projects, contract management, and procurement transactions to supplier collaboration and automated invoice processing; an integrated spending management solution streamlines and controls all purchases and spending.
Headquartered in Bangalore, Karnataka, India, the company is a pioneer in providing global customers with enterprise solutions for ERP package implementation, enterprise product development for the SMB segment, and world-class consulting services for embedded systems and system software technology solutions. The company offers a wide range of business services, including configuration, implementation, customization, end-user training and documentation, support, and post-implementation maintenance for key off-the-shelf products such as SAP Oracle Applications.
Headquartered in Kansas City, Missouri, India, Una is the country's fastest-growing Group Policy Organization (GPO), witty helpmate companies and healthcare organizations improve their financial performance while providing a world-class member experience.
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