Sales Training | Market, Trends, Growth | Suppliers Analysis

Strategic Sourcing Guide to Sales Training Procurement

Overview

A changing ecosystem within the Development and Training market also affects the procurement process, cost dynamics and supplier attractiveness for the buyers of Sales Training. Several important sectors of the global economy, such as BFSI, Healthcare and Manufacturing are facing serious shortage of adequately skilled workforce. Companies are trying to fill this gap by re-skilling their existing employees in new skills. Similarly, rapid penetration of new technologies across industries (e.g. big data, AI, blockchain, or even data analytics tools) is necessitating re-skilling of employees so that they understand and leverage these technologies to work more efficiently. These factors have improved the demand outlook for L&D services in developed economies and will soon impact the developing economies as well.

Some suppliers are using advanced technologies such as AR/VR in their learning programs and methods. This has the potential to enhance the learning experience, but category managers need to be aware of the higher cost and technological capabilities of the vendor to properly integrate these technologies in the right context.

Buyers that have multiple locations under management are increasingly opting for a single supplier who can deliver L&D services in a consistent manner across locations. Often global L&D suppliers are preferred in such cases.

Sales Training Procurement Best Practices

Sales Training 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 Sales Training procurement strategy.

For example, Buyers must engage with service providers that offer bundled and unbundled services. Unbundling of services allows buyers to select the best-fit services as per organizational requirements. In addition, it allows buyers to outsource services such as content development and learning technologies to dedicated players that can offer cost-effective training services compared with traditional training service providers.

Buyers should prefer to collaborate with service providers that offer one-stop solutions for L&D to avail significant cost savings through L&D consolidation. This includes learning planning and curriculum design, custom content design and development, user and administration training, and content management services.

Buyers can collaborate with their suppliers based on a reward-sharing basis. This can be done by providing special recognition to them at the annual meetings of buyers for high performance or mentioning their brand name on own websites.

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Risks in Sales Training procurement

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

Procurement without consulting the actual users of Sales Training 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
Learning and development firms provide buyers with their own training materials/content/courses in alignment with the latter's business requirements. This may be developed by the suppliers on their own or purchased from third-party vendors. These materials can be subject to copyrights, and infringements can place buyers' reputations at risk and also lead to legal action against them

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Who should read this report

The report is intended to serve as a one-stop reference guide for Sales Training 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 “Sales Training: Procurement Report 101” as well as for category experts actively tracking the global Sales Training procurement market.

You may have just initiated your research to design a winning Sales Training 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 Sales Training 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 Sales Training 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 Sales Training market?
What is the correct price to pay for Sales Training? What are the key trends and factors that influence current and future pricing?
Which selection criteria are the most important for Sales Training Suppliers Market?
Who are the top Sales Training suppliers? What are their cost structures?
Which negotiation levers can reduce Sales Training procurement cost ?
What are supplier margins in Sales Training market?
What are the best practices for Sales Training 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!

Sales Training Category Insights: What is inside

The Sales Training 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 Sales Training procurement spend and pricing trends. The report further delves deep into the aspects of cost structure, total cost of ownership and supplier margins for Sales Training. 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 Sales Training 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 Sales Training 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 Sales Training 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.