Interactive Voice Response Software | Intelligence Report

Strategic Sourcing Guide to Interactive Voice Response Software Procurement

Overview

The market for End User Software and Hardware and its sub-segments such as Interactive Voice Response Software are at an interesting intersection. The supply market has undergone several structural changes including introduction of several new vendors every year, M&As and vertical integration efforts of suppliers. This has resulted in some issues such as erosion of previously established supplier relationships but has also opened new opportunities to onboard new suppliers that offer a solution with better fitment or a wider range of offerings in .

In a bid to differentiate themselves in an overcrowded technology space, suppliers are now focusing on creating industry-specific specialized products. Buyers see this trend as an opportunity to procure more targeted solutions and are developing internal capabilities to identify and leverage innovations in the supplier base.

The cut-throat competition in the category is compelling suppliers to go aggressive on their pricing structure and increase their spend on sales and marketing activities. As a result, most suppliers are feeling a pressure on their margins and trying to offer higher margin value added services to have a better control on their profitability.

Trends like these and many others discussed in this report are necessitating a relook at the way Interactive Voice Response Software is procured and the procurement cost saving opportunities that exist.

Interactive Voice Response Software Procurement Best Practices

Interactive Voice Response Software procurement best practices are moving towards a level of sophistication which is typically seen in traditional procurement categories. Category managers now have an attractive opportunity to adapt the best practices seen within this category as well as those being leveraged in other non-related categories. This report summarizes the best practices picked from across multiple categories that could work well for category managers involved with Interactive Voice Response Software procurement strategy.

For example, Buyers should ask for a detailed account of the data protection capabilities of the supplier. In addition, buyers should also enquire regarding the redundancies available during instances of outages or disruptions. While some providers can provide backup, others may have limited capabilities in hardware redundancy.

Adequate RFP response time should be built in for prospective suppliers to enable them understand the scope and usage patterns properly.

Investing in benchmarking studies not only helps category managers to improve their knowledge about market pricing or billing rates but also in negotiating with suppliers. In fact, this holds true for all technology procurement sub-categories.

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Risks in Interactive Voice Response Software procurement

Interactive Voice Response Software procurement managers also need to proactively identify and mitigate potential risks that can arise in the supply chain or contracts for Interactive Voice Response Software procurement. Some examples include:

Procurement without consulting the actual users of Interactive Voice Response Software may result in a mismatch in expectations of the buyer's internal stakeholders versus the actual contract executed
Suppliers may face a situation where they are unable to honor a contract in its entirety due to shortage of resources, finances or capabilities. While contractual terms safeguard buyers from the non-performance, their operations could still face massive disruptions due to suppliers' non-performance
Consistent evolution in the technological landscape of IT support services is increasing the risk of technology used by service providers becoming obsolete, which can prevent buyers from engaging with them

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Who should read this report

The report is intended to serve as a one-stop reference guide for Interactive Voice Response Software procurement strategy and offers a perfect blend of category basics with deep-dive category data and insights. Therefore, it is ideal for category beginners looking for “Interactive Voice Response Software: Procurement Report 101” as well as for category experts actively tracking the global Interactive Voice Response Software procurement market.

You may have just initiated your research to design a winning Interactive Voice Response Software procurement strategy, or you may be a category expert looking for strategic insights and updated data.Either ways, the report has your requirements covered.

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Key questions on Interactive Voice Response Software procurement answered by this report

Procurement decisions can prove to be costly in the absence of careful deliberation and evaluation of every available option. In fact, more than 90% of the decision makers we work with acknowledge that timely availability of up-to-date category intelligence can help them make better purchasing decisions. More than 80% of them believe that in-house category intelligence needs to be updated periodically to achieve full benefits. If you have read so far, we are quite sure you agree!!

The Interactive Voice Response Software procurement report helps take more informed decisions by placing all the critical information and advice at the fingertips of a decision maker. It also specifically answers some of the key questions that we have been routinely asked during our industry outreach initiatives:

What is the spend potential in the Interactive Voice Response Software market?
What is the correct price to pay for Interactive Voice Response Software? What are the key trends and factors that influence current and future pricing?
Which selection criteria are the most important for Interactive Voice Response Software Suppliers Market?
Who are the top Interactive Voice Response Software suppliers? What are their cost structures?
Which negotiation levers can reduce Interactive Voice Response Software procurement cost ?
What are supplier margins in Interactive Voice Response Software market?
What are the best practices for Interactive Voice Response Software procurement and what are the potential risks?

SpendEdge Insights has helped procurement professionals and sourcing teams manage multiple spend areas and achieve more than $2 billion in savings. Activate your free account today!

Interactive Voice Response Software Category Insights: What is inside

The Interactive Voice Response Software market report offers a complete picture of the supply market and analyzes the category from the perspective of both buyers and suppliers. Analysis of the category trends, procurement best practices, negotiation levers and overall category management strategy advisory are interspersed with in-depth data and commentary on spend outlook, pricing ecosystem and supplier landscape drilled down to a region-level coverage.

Data

A key highlight of this report is the in-depth outlook created on Interactive Voice Response Software procurement spend and pricing trends. The report further delves deep into the aspects of cost structure, total cost of ownership and supplier margins for Interactive Voice Response Software. A dedicated section to supplier profiles and evaluation helps decision makers cast a wider procurement net and identify gaps in existing relationships.

Insights

Along with specific category and supplier intelligence, the publication also includes curated insights on Interactive Voice Response Software market trends, price influencers and inherent risks. These insights help the decision makers prepare for market shaping trends in advance and create alternative strategies for changes in the market conditions.

Advisory

Additionally, the report also advises on the best practices and strategies to manage the Interactive Voice Response Software category efficiently. Negotiation levers and opportunities are explained in detail along with quantification of their potential. Benchmark KPIs for supplier and buyer performance management are also aggregated to better organize the category objectives. Other themes of advisory include ideal procurement organization structure, enablers to achieve KPIs or category objectives and ideal SLAs to have with suppliers.

Category Ecosystem

Buyer and supplier ecosystem
Competitiveness index
Buyer and supplier power
Threat of new entrants and substitutes

Global and Regional Sourcing Insights

Category spend
Spend growth
Dynamics
Opportunities

Pricing and Cost Analysis

Pricing outlook and data
Drivers of pricing
Cost structure and inputs cost
Total cost of ownership
Pricing models and margins

Cost Saving Opportunities & Negotiation Strategies

Buyer and supplier side levers
Quantified cost saving opportunities
Negotiation strategies and quantified outcome

Procurement Best Practices, Strategy and Enablers

Procurement excellence
Sustainability and innovation
KPIs and category enablers
Risk management and outsourcing

Vendor Analysis

RFx essentials and selection criteria
SLAs
Supplier evaluation metrics
Detailed supplier profiles

Our research is complex, but our reports are easy to digest. Quantitative analysis and exhaustive commentary is placed in an easy to read format that gives you an in-depth knowledge on the category without spending hours to figure out “what does it mean for my company?”

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Category Research Framework

SpendEdge presents a detailed picture of Interactive Voice Response Software procurement solutions by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key category influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.