A buying guide for Speech Analytics category – enriched with research on Speech Analytics procurement spend patterns, Speech Analytics pricing intelligence, market dynamics and top suppliers of Speech Analytics.
GET FREE SAMPLEOur category grouping process defines that the overall BPO Services market includes all costs related to Business Process Outsourcing (BPO) Services that cannot be categorized under a category specific BPO classification. If the contract involves working in a 'business-as-usual' function which has been outsourced then the spend should also be recorded in this category. Dynamics of the global Speech Analytics market play out within this wider arena of BPO Services market. Therefore, our coverage of the Speech Analytics category also operates within this broader boundary of the overall BPO Services market.
Several macro changes in the dynamics of overall BPO Services as well as Speech Analytics procurement trends are poised to change the business practices and procurement thumb rules. New locations and vendors are emerging as cost effective suppliers of Speech Analytics, offering an opportunity to widen the supplier base and gain further negotiation leverage with incumbent suppliers. Talent pools available to suppliers of Speech Analytics are gradually getting costlier, impacting their OPEX. Suppliers are compelled to change their pricing structure and pass on some of this cost increase to their customers. More and more buyers of Speech Analytics are looking to engage suppliers who adhere to lean principles of business operations in a bid to receive services and resources that are highly optimized and insulates in part from cost overruns. Category managers need to take note of the potential of these developments and reassess the changes required in their procurement practices.
It has become imperative for category managers to remain as agile as possible in terms of their procurement practices. However, it is not always easy to quickly spot and implement alternative practices in a category like Speech Analytics. To help quick decision making, this report advises on several procurement best practices that have worked well for category managers. For example, Adequate RFP response time should be built in for prospective suppliers to enable them understand the scope and performance requirements.Investing in benchmarking studies help category managers improve their knowledge on market pricing or billing rates of suppliers by job role and function. This also allows them to save costs as well as negotiate better with service providers.Buyers should engage suppliers that can provide services customized for their industry. Though most suppliers offer services across various industries, category managers should ensure that services can be customized and negotiate on pricing based on the level of required customization.
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Speech Analytics procurement managers also need to proactively identify and mitigate potential risks that can arise in the supply chain or contracts for Speech Analytics procurement. Some examples include:
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The report is intended to serve as a one-stop reference guide for Speech Analytics 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 “Speech Analytics: Procurement Report 101” as well as for category experts actively tracking the global Speech Analytics procurement market.
You may have just initiated your research to design a winning Speech Analytics 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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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 Speech Analytics 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:
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!
The Speech Analytics 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.
A key highlight of this report is the in-depth outlook created on Speech Analytics procurement spend and pricing trends. The report further delves deep into the aspects of cost structure, total cost of ownership and supplier margins for Speech Analytics. A dedicated section to supplier profiles and evaluation helps decision makers cast a wider procurement net and identify gaps in existing relationships.
Along with specific category and supplier intelligence, the publication also includes curated insights on Speech Analytics 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.
Additionally, the report also advises on the best practices and strategies to manage the Speech Analytics 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.
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?”
SpendEdge presents a detailed picture of Speech Analytics 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.
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