Maintenance Management Software Category Procurement Intelligence Report

A changing ecosystem within the End User Software and Hardware market also affects the procurement process, cost dynamics and supplier attractiveness for the buyers of Maintenance Management Software. 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.

Rise in the cost of certain essential assets and supplies required to deliver Maintenance Management Software is making a significant addition to the supplier's overall expenditure. This could have an inflationary impact on buyer's procurement expenditure in the Maintenance Management Software market.

As market conditions become more dynamic and procurement practices get more sophisticated, category managers need to be cognizant of the best practices that work for their Maintenance Management Software category procurement. The report offers a succinct analysis of Maintenance Management Software procurement best practices.

For example, Buyers must clearly define clauses pertaining to the ownership of subcontracting services that are not a part of preferred suppliers' portfolios. Subcontractors should be bound by the same terms and conditions as the main contractor to ensure consistency in quality and manage any adverse event such as data breach.

Needs of buyers can vary depending on the industry where buyers operate. For instance, buyers from the financial services industry give high importance to regulatory compliance and data security, whereas buyers from the e-commerce industry prioritize high throughput, low response time, and high scalability. Hence, service providers with a strong knowledge of the security, compliance, and governance needs of buyers' industries and a proven track record of performance with respect to these aspects should be prioritized.

It is important for category managers to track and measure the performance of suppliers against a defined set of KPIs that are agreed upon by both parties. Buyers should engage with providers that offer mobile applications and online dashboards to monitor essential performance parameters of the products and services procured.

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