What is Source-to-Pay Outsourcing Market Scope?
Source-to-pay outsourcing technology involves the enabling of scalable infrastructure for organization growth. It includes designing the new workflow process, managing spending, managing the workforce, and implementing the plans effectivity with the help of teams. It is the process that starts with searching, negotiating, and contracting with other business partners. All these processes have been evolved with the advancement in the IT sector and the use of big data and digital networks for this process. Source-to-pay outsourcing mainly focuses on procurement and strategic components.
The Source-to-Pay Outsourcing market study is being classified by Type (S2C (Source to Contact) and P2P (Procure to Pay)) and major geographies with country level break-up.
GIS International (Belgium), Canon Business Process Services (United States), Accenture plc (Ireland), Capgemini SE (France), GEP Worldwide (United States), Corbus, LLC. (Soin LLC) (United States), Infosys Limited (India), Wax Digital (Medius AB) (United Kingdom) and Hewlett-Packard Company (United States) are some of the key players profiled in the study.
Analyst at AMA have segmented the market study of Global Source-to-Pay Outsourcing market by Type, Application and Region.
On the basis of geography, the market of Source-to-Pay Outsourcing has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico).
On 20th November 2019, Medius, the leader in cloud-based accounts payable automation, announced that it has acquired Wax Digital, an industry-leading procurement solutions provider headquartered in the U.K. From sourcing and contracting with suppliers to placing orders, as well as matching, processing, and paying invoices, the acquisition of Wax transforms Medius from a market-leading accounts payable-focused solution into a comprehensive product suite with full source-to-pay (S2P) capabilities.
Influencing Market Trend
- Increasing Automation in the Source-to-Pay Outsourcing Process like Big Data and Digital Networks
- Growing Information Technology Industry with Number of Outsourcing Operations
- Demand for New Workforce Strategy in Organisations Providing Productivity and Efficiency
- Technological Advancement in the Source-to-Pay Outsourcing Market
- Surging Spendings of Organisation Across the World in Outsourcing
- Problem with Human Resource and Training Costs Might Hinder the Source-to-Pay Outsourcing Market
- Technological Issues with the Slower Process
Key Target AudienceSource-to-Pay Outsourcing Service Providers, Source-to-Pay Outsourcing International Companies, Source-to-Pay Outsourcing Industry Association, Research and Development Institutes, Potential Investors, Regulatory Bodies and Others
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