AMA recognizes the following companies as the key players in the Global Supplier Risk Management market: SAP (Germany), MasterControl (United States), HICX Solutions (United Kingdom), NAVEX Global (United States), Bureau van Dijk (United Kingdom), Pilgrim Quality Solutions (United States), Opus (United States) and D&B UK (United States).
An analyst from AdvanceMarketAnalytics team said: One of the key factors which is trending the market is Extended performance management benchmarks to second and third-tier suppliers. Considering the revolutionary changes occurring in this market, there is a growing demand from the use of Supplier Risk Management such as Financial Controls, Contract Management, Relationship Management and Other.
According to the report, some of the important driving forces behind the market growth are Need for the Efficient Management of Complex Supplier Ecosystems
. The primary concern of any business is the reduction of the overall operating cost. The increased need for operating efficiency and meeting regulatory demands at the same time have become major challenges for the original Manufacturers, additional restraints impacting market are Dependence on Non-Formal and Manual Processes By Many Organizations which is continuously seeking attention of Industry Experts and Decision makers.
The study was conducted using primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market study and vendor landscape in addition to a SWOT analysis of the key Manufacturers.