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Business Spend Management (BSM) Software Market By Solution (Procure To Pay, Travel & Expense Management, Spend Analysis, Contract Management, Others), By Enterprise (Large, SMEs), by Deployment (On-cloud, On-premise), By End-use (IT & Telecom, Energy, Healthcare, Manufacturing, Others) – Growth, Future Prospects, And Competitive Analysis, 2019 – 2027

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Published: | Report ID: 3895 | Report Format : PDF

Streamlining the business processes to optimize spending is improving the adoption of BSM software worldwide

Using BSM software solution, enterprises can reduce their cost of goods & services, increase procurement leverages and process efficiency and also mitigate the risk which may cause by supplier non-performance or supplier non-compliance. Additionally, increased procurement transparency and increased spending and contract visibility provide enhanced financial control, organizational agility, and increased productivity.

With the growth of enterprises, managing the spending of a large number of vendors and transactions is difficult. Also, with rising cost-effective software solutions, high-growth start-ups and companies are data-driven and diligent in managing and regulating their spending. This shifts enterprises towards BSM software to manage their spending.

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Market Snapshot

Enterprise Type Analysis

SMEs is Dominant in 2018 owing to its increasing numbers worldwide

Among the enterprise size, the small & medium enterprises (SMEs) segment is expected to grow at the fastest rate during the forecast period. The increasing number of SMEs across the globe and their adoption of software solutions to manage their spending through a single platform are driving the demand for business spend management software. Further, the insurgence of SMEs in Europe from last year has greatly impacted the growing adoption of software, thereby increasing the market size in 2018.

Regional Analysis

The rising number of SMEs expected to grow Asia Pacific market at the fastest rate

Asia Pacific is home to a large number of SMEs which are adopting BSM software. These SMEs are affected by rising wages and an increasing number of regional global enterprises. Regional enterprises are shifting toward reducing their operational cost to stay competitive in the growing competition. This, in turn, aided the adoption of BSM software in the region.

However, some of the industrial factors reducing the adoption of BSM software in the region include the high cost of the new platform, integration of new software with the existing system, and ROI.

Emerging Partnership Trend is keeping the Market Competitive

The overall business spends management software market is fragmented. As a result, market players focus on advancing their current technology and partnering with other companies to grab a major market share. For instance, in November 2019, American Express partnered with Coupa Software Inc. to launch virtual AmEx on Coupa’s BSM platform. With this new virtual card, businesses can pay for their goods and services through the Coupa platform.

List of Companies Covered:

  • Ariba Inc.
  • Coupa Software Inc.
  • Advanced
  • Procurify
  • IBM
  • TRADOGRAM
  • Fraxion
  • SutiSoft, Inc.
  • Sievo
  • GEP
  • Others

Key Industry Development:

  • In December 2019, BT Group selected Ariba Inc. as its technology partner to deploy its technology across its businesses, including finance, procurement, and workforce management. This will help BT Group to manage their spending in a better way and increase the client base of Ariba Inc.
  • In November 2019, Serco Group plc. Selected GEP as a strategic partner to manage its procurement services. This cloud-based, AI-powered digital platform will be used for direct and indirect procurement. With this partnership, GEP is expected to increase its market share in the near future.

Historical & Forecast Period

The research report presents the analysis of each segment from 2017 to 2027, considering 2018 as the base year for the research. Compounded annual growth rate (CAGR) for each respective segment calculated for the forecast period from 2019 to 2027.

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Segmentation Solution Segment (2017-2027; US$ Bn)

  • Procure to pay
  • Travel & expense management
  • Spend Analysis
  • Contract Management
  • Others

 Enterprise Segment (2017-2027; US$ Bn)

  • Large
  • SMEs

 Deployment Segment (2017-2027; US$ Bn)

  • On-cloud
  • On-premise

 End-use (2017-2027; US$ Bn))

  • BFSI
  • IT & Telecom
  • Energy
  • Healthcare
  • Manufacturing
  • Others

 Geography Segment (2017-2027; US$ Bn)

  • North America (the U.S., Rest of North America)
  • Europe (U.K., Germany, France, Rest of Europe)
  • Asia Pacific (Japan, China, India, Rest of APAC)
  • Rest of the World (the Middle East & Africa, Latin America)

The current report also comprehends qualitative market valuation factors such as key market drivers, market trends, restraints, and opportunities to understand better the global business spend management software market. In addition, the global report also represents the competitive landscape based on market initiatives and strategies, product portfolio, and business strengths.

1. Preface
1.1. Report Description
1.1.1. Purpose of the Report
1.1.2. Target Audience
1.1.3. USP and Key Offerings
1.2. Research Scope
1.3. Research Methodology
1.3.1. Phase I – Secondary Research
1.3.2. Phase II – Primary Research
1.3.3. Phase III – Expert Panel Review
1.3.4. Approach Adopted
1.3.4.1. Top-Down Approach
1.3.4.2. Bottom-Up Approach
1.3.5. Assumptions
1.4. Market Segmentation

2. Executive Summary
2.1. Market Snapshot: Global Business Spend Management Software (BSMS) Market
2.2. Global BSMS Market, by Solution, 2018 (US$ Bn)
2.3. Global BSMS Market, by Enterprise, 2018 (US$ Bn)
2.4. Global BSMS Market, by Deployment, 2018 (US$ Bn)
2.5. Global BSMS Market, by End-use, 2018 (US$ Bn)
2.6. Global BSMS Market, by Geography, 2018 (US$ Bn)

3. Market Dynamics
3.1. Introduction
3.1.1. Global Business Spend Management Software (BSMS) Market Value, 2017 – 2027, (US$ Bn)
3.2. Market Dynamics
3.2.1. Market Drivers
3.2.2. Market Restraints
3.3. Attractive Investment Proposition, by Geography, 2018
3.4. Market Positioning of Key Players, 2018
3.4.1. Major Strategies Adopted by Key Players

4. Global Business Spend Management Software Market, by Solution , 2017 – 2027 (US$ Bn)
4.1. Overview
4.2. Procure to pay
4.3. Travel & expense management
4.4. Spend Analysis
4.5. Contract Management
4.6. Others

5. Global Business Spend Management Software Market, by Enterprise, 2017 – 2027 (US$ Bn)
5.1. Overview
5.2. Large
5.3. SMEs

6. Global Business Spend Management Software Market, by Deployment, 2017 – 2027 (US$ Bn)
6.1. Overview
6.2. On-cloud
6.3. On-premise

7. Global Business Spend Management Software Market, by End-use, 2017 – 2027 (US$ Bn)
7.1. Overview
7.2. BFSI
7.3. IT & Telecom
7.4. Energy
7.5. Healthcare
7.6. Manufacturing
7.7. Others

8. North America Business Spend Management Software Market Analysis, 2017 – 2027 (US$ Bn)
8.1. Overview
8.1.1. North America BSMS Market Value and Growth, 2017 – 2027, (US$ Bn)
8.2. North America BSMS Market Value, By Solution, 2017 – 2027 (US$ Bn)
8.2.1. Market Analysis
8.3. North America BSMS Market Value, By Enterprise, 2017 – 2027 (US$ Bn)
8.3.1. Market Analysis
8.4. North America BSMS Market Value, By Deployment, 2017 – 2027 (US$ Bn)
8.4.1. Market Analysis
8.5. North America BSMS Market Value, By End-use, 2017 – 2027 (US$ Bn)
8.5.1. Market Analysis
8.6. North America BSMS Market Value, By Region/Country, 2017 – 2027 (US$ Bn)
8.6.1. Market Analysis
8.6.2. U.S.
8.6.3. Rest of North America

9. Europe Business Spend Management Software Market Analysis, 2017 – 2027 (US$ Bn)
9.1. Overview
9.1.1. Europe BSMS Market Value and Growth, 2017 – 2027, (US$ Bn)
9.2. Europe BSMS Market Value, By Solution, 2017 – 2027 (US$ Bn)
9.2.1. Market Analysis
9.3. Europe BSMS Market Value, By Enterprise, 2017 – 2027 (US$ Bn)
9.3.1. Market Analysis
9.4. Europe BSMS Market Value, By Deployment, 2017 – 2027 (US$ Bn)
9.4.1. Market Analysis
9.5. Europe BSMS Market Value, By End-use, 2017 – 2027 (US$ Bn)
9.5.1. Market Analysis
9.6. Europe BSMS Market Value, By Region/Country, 2017 – 2027 (US$ Bn)
9.6.1. Market Analysis
9.6.2. U.K.
9.6.3. Germany
9.6.4. France
9.6.5. Rest of Europe

10. Asia Pacific Business Spend Management Software Market Analysis, 2017 – 2027 (US$ Bn)
10.1. Overview
10.1.1. Asia Pacific BSMS Market Value and Growth, 2017 – 2027, (US$ Bn)
10.2. Asia Pacific BSMS Market Value, By Solution, 2017 – 2027 (US$ Bn)
10.2.1. Market Analysis
10.3. Asia Pacific BSMS Market Value, By Enterprise, 2017 – 2027 (US$ Bn)
10.3.1. Market Analysis
10.4. Asia Pacific BSMS Market Value, By Deployment, 2017 – 2027 (US$ Bn)
10.4.1. Market Analysis
10.5. Asia Pacific BSMS Market Value, By End-use, 2017 – 2027 (US$ Bn)
10.5.1. Market Analysis
10.6. Asia Pacific BSMS Market Value, By Region/Country, 2017 – 2027 (US$ Bn)
10.6.1. Market Analysis
10.6.2. Japan
10.6.3. China
10.6.4. India
10.6.5. Rest of Asia Pacific

11. Rest of the World Business Spend Management Software Market Analysis, 2017 – 2027 (US$ Bn)
11.1. Overview
11.1.1. Rest of the World BSMS Market Value and Growth, 2017 – 2027, (US$ Bn)
11.2. Rest of the World BSMS Market Value, By Solution, 2017 – 2027 (US$ Bn)
11.2.1. Market Analysis
11.3. Rest of the World BSMS Market Value, By Enterprise, 2017 – 2027 (US$ Bn)
11.3.1. Market Analysis
11.4. Rest of the World BSMS Market Value, By Deployment, 2017 – 2027 (US$ Bn)
11.4.1. Market Analysis
11.5. Rest of the World BSMS Market Value, By End-use, 2017 – 2027 (US$ Bn)
11.5.1. Market Analysis
11.6. Rest of the World BSMS Market Value, By Region, 2017 – 2027 (US$ Bn)
11.6.1. Market Analysis
11.6.2. Middle East & Africa
11.6.3. Latin America

12. Company Profiles
12.1. Altergy
12.2. Ariba Inc.
12.3. Coupa Software Inc.
12.4. Advanced
12.5. Procurify
12.6. IBM
12.7. TRADOGRAM
12.8. Fraxion
12.9. SutiSoft, Inc.
12.10. Sievo
12.11. GEP

List of Figures

FIG. 1 Global Business Spend Management Software (BSMS) Market: Research Methodology
FIG. 2 Market Size Estimation – Top Down & Bottom up Approach
FIG. 3 Global BSMS Market Segmentation
FIG. 4 Global BSMS Market, by Solution, 2018, (US$ Bn)
FIG. 5 Global BSMS Market, by Enterprise, 2018, (US$ Bn)
FIG. 5 Global BSMS Market, by Deployment, 2018, (US$ Bn)
FIG. 6 Global BSMS Market, by End-use, 2018, (US$ Bn)
FIG. 7 Global BSMS Market, by Geography, 2018 (US$ Bn)
FIG. 8 Global BSMS Market Value, 2017 – 2027, (US$ Bn)
FIG. 9 Attractive Investment Proposition, by Geography, 2018
FIG. 10 Global Market Positioning of Key BSMS Providers, 2018
FIG. 11 Global BSMS Market Value Share, by Solution, 2018 & 2027 (Value %)
FIG. 12 Global BSMS Market Value for Procure to pay, 2017 – 2027, (US$ Bn)
FIG. 13 Global BSMS Market Value for Travel & expense management, 2017 – 2027, (US$ Bn)
FIG. 14 Global BSMS Market Value for Spend Analysis, 2017 – 2027, (US$ Bn)
FIG. 14 Global BSMS Market Value for Contract Management, 2017 – 2027, (US$ Bn)
FIG. 14 Global BSMS Market Value for Others, 2017 – 2027, (US$ Bn)
FIG. 15 Global BSMS Market Value Share by Enterprise, 2018 & 2027 (Value %)
FIG. 16 Global BSMS Market Value for Large Enterprises, 2017 – 2027, (US$ Bn)
FIG. 17 Global BSMS Market Value for SMEs, 2017 – 2027, (US$ Bn)
FIG. 15 Global BSMS Market Value Share by Deployment, 2018 & 2027 (Value %)
FIG. 16 Global BSMS Market Value for On-premise, 2017 – 2027, (US$ Bn)
FIG. 17 Global BSMS Market Value for On-cloud, 2017 – 2027, (US$ Bn)
FIG. 20 Global BSMS Market Value Share, by End-use, 2018 & 2027 (Value %)
FIG. 21 Global BSMS Market Value for BFSI, 2017 – 2027, (US$ Bn)
FIG. 22 Global BSMS Market Value for IT & Telecom, 2017 – 2027, (US$ Bn)
FIG. 23 Global BSMS Market Value for Energy, 2017 – 2027, (US$ Bn)
FIG. 21 Global BSMS Market Value for Healthcare, 2017 – 2027, (US$ Bn)
FIG. 22 Global BSMS Market Value for Manufacturing, 2017 – 2027, (US$ Bn)
FIG. 23 Global BSMS Market Value for Others, 2017 – 2027, (US$ Bn)
FIG. 24 North America BSMS Market Value, 2017 – 2027, (US$ Bn)
FIG. 25 Europe BSMS Market Value, 2017 – 2027, (US$ Bn)
FIG. 26 Asia Pacific BSMS Market Value, 2017 – 2027, (US$ Bn)
FIG. 27 Rest of the World BSMS Market Value, 2017 – 2027, (US$ Bn)

List of Tables

TABLE 1 Market Snapshot: Global Business Spend Management Software (BSMS) Market Value
TABLE 2 Impact Indicators
TABLE 3 Impact Analysis of Drivers and Restraints
TABLE 4 Global BSMS Market, by Solution, 2017-2027, (US$ Bn)
TABLE 5 Global BSMS Market, by Enterprise, 2017 – 2027, (US$ Bn)
TABLE 5 Global BSMS Market, by Deployment, 2017 – 2027, (US$ Bn)
TABLE 6 Global BSMS Market, by End-use, 2017 – 2027, (US$ Bn)
TABLE 7 Global BSMS Market Value, by Region/Country, 2017 – 2027, (US$ Bn)
TABLE 8 North America BSMS Market, by Solution, 2017-2027, (US$ Bn)
TABLE 9 North America BSMS Market, by Enterprise, 2017 – 2027, (US$ Bn)
TABLE 9 North America BSMS Market, by Deployment, 2017 – 2027, (US$ Bn)
TABLE 10 North America BSMS Market, by End-use, 2017 – 2027, (US$ Bn)
TABLE 11 North America BSMS Market Value, by Region/Country, 2017 – 2027, (US$ Bn)
TABLE 12 Europe BSMS Market, by Solution, 2017-2027, (US$ Bn)
TABLE 13 Europe BSMS Market, by Enterprise, 2017 – 2027, (US$ Bn)
TABLE 13 Europe BSMS Market, by Deployment, 2017 – 2027, (US$ Bn)
TABLE 14 Europe BSMS Market, by End-use, 2017 – 2027, (US$ Bn)
TABLE 15 Europe BSMS Market Value, by Region/Country, 2017 – 2027, (US$ Bn)
TABLE 16 Asia Pacific BSMS Market, by Solution, 2017-2027 (US$ Bn)
TABLE 17 Asia Pacific BSMS Market, by Enterprise, 2017 – 2027 (US$ Bn)
TABLE 17 Asia Pacific BSMS Market, by Deployment, 2017 – 2027 (US$ Bn)
TABLE 18 Asia Pacific BSMS Market, by End-use, 2017 – 2027 (US$ Bn)
TABLE 19 Asia Pacific BSMS Market Value, by Region/Country, 2017 – 2027, (US$ Bn)
TABLE 20 Rest of the World BSMS Market, by Solution, 2017 – 2027, (US$ Bn)
TABLE 21 Rest of the World BSMS Market, by Enterprise, 2017 – 2027, (US$ Bn)
TABLE 21 Rest of the World BSMS Market, by Deployment, 2017 – 2027, (US$ Bn)
TABLE 22 Rest of the World BSMS Market, by End-use, 2017 – 2027, (US$ Bn)
TABLE 23 Rest of the World BSMS Market Value, by Region, 2017 – 2027, (US$ Bn)
TABLE 24 Ariba Inc.: Company Snapshot (Business Description; Enterprise Portfolio; Financial Information; Business Overview and Recent Development)
TABLE 25 Coupa Software Inc.: Company Snapshot (Business Description; Enterprise Portfolio; Financial Information; Business Overview and Recent Development)
TABLE 26 Advanced: Company Snapshot (Business Description; Enterprise Portfolio; Financial Information; Business Overview and Recent Development)
TABLE 27 Procurify: Company Snapshot (Business Description; Enterprise Portfolio; Financial Information; Business Overview and Recent Development)
TABLE 28 IBM: Company Snapshot (Business Description; Enterprise Portfolio; Financial Information; Business Overview and Recent Development)
TABLE 29 TRADOGRAM: Company Snapshot (Business Description; Enterprise Portfolio; Financial Information; Business Overview and Recent Development)
TABLE 30 Fraxion: Company Snapshot (Business Description; Enterprise Portfolio; Financial Information; Business Overview and Recent Development)
TABLE 31 SutiSoft, Inc.: Company Snapshot (Business Description; Enterprise Portfolio; Financial Information; Business Overview and Recent Development)
TABLE 32 Sievo: Company Snapshot (Business Description; Enterprise Portfolio; Financial Information; Business Overview and Recent Development)
TABLE 33 GEP: Company Snapshot (Business Description; Enterprise Portfolio; Financial Information; Business Overview and Recent Development)

Frequently Asked Questions

What is the size of Business Spend Management (BSM) Software Market?

The market for Business Spend Management (BSM) Software is expected to reach US$ 7.04 Bn in 2027.

What is the Business Spend Management (BSM) Software Market CAGR?

The Business Spend Management (BSM) Software market is expected to see significant CAGR growth over the coming years, at 10.5%.

What is the Forecast period considered for Business Spend Management (BSM) Software Market?

The report is forecasted from 2019-2027.

What is the base year considered for Business Spend Management (BSM) Software Market?

The base year of this report is 2018.

Who are the major players in this market?

Ariba Inc.,Coupa Software Inc.,Advanced,Procurify,IBM,TRADOGRAM,Fraxion, SutiSoft Inc., Sievo, GEP are some of the major players in the global market.

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