Background Check Services Sourcing and Procurement Report by Top Spending Regions and Market Price Trends - Forecast and Analysis 2023-2027

Background Check Services Sourcing and Procurement Report by Top Spending Regions and Market Price Trends - Forecast and Analysis 2023-2027

  • Published: Jan 2023
  • Pages: 144
  • SKU: IRCMSTR23297

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Background Check Services Procurement - Sourcing and Intelligence Report on Price Trends and Spend & Growth Analysis

The background check services procurement category is projected to grow at a CAGR of 7.07% during 2023-2027. The prices are outlined to rise by 7%-9% during the forecast period and suppliers will have moderate bargaining power in this market. KPMG International Ltd., Grant Thornton International Ltd., and ADP, Inc are a few of the key suppliers in the background check services market.

Background Check Services Procurement - Sourcing and Intelligence Report on Price Trends and Spend & Growth AnalysisBackground Check Services Procurement - Sourcing and Intelligence Report on Price Trends and Spend & Growth Analysis

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Who are the Top Suppliers in the Background Check Services Market?

This report offers detailed insights and analysis of the major cost drivers, volume drivers, and innovations of the background check services procurement and sourcing market, which the global suppliers have been leveraging to gain a competitive edge across regions. Some of the leading background check services suppliers profiled extensively in this report include:

Top Suppliers in the Background Check Services Market

Furthermore, this background check services procurement market report provides a detailed analysis of procurement strategies deployed by major category end-users across several industries while sourcing for background check services requirements. In addition, most adopted and high-potential pricing models considered by buyers have been analyzed in this report, which will help understand business scopes for revenue expansion. These data will assist buyers to realize cost savings and identify business strategies to improve sales.

What are the Most Suitable Supplier Selection Criteria, Supplier Evaluation Metrics, and SLA that Buyers Should Consider?

The background check services procurement market report provides a detailed analysis of various supplier selection criteria, RFX questions, supplier evaluation metrics, and the service level agreements that the buyers should consider adopting to achieve significant cost savings, streamline the procurement process, and reduce category TCO while sourcing for background check services requirements.

Background Check Services Market Supplier Selection Criteria, Supplier Evaluation Metrics, and SLA

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What are the Most Adopted Procurement Strategies by Buyers Across Industries?

The report provides a detailed insight of the most adopted procurement strategies by buyers across industries and an analysis of these strategies with respect to innovation, regulatory compliance, quality, supply, and cost. Adoption of these procurement strategies will enable the buyers to reduce category TCO and achieve cost savings, while sourcing for background check services requirements.

What are the Major Pricing Models Adopted by Buyers in Background Check Services Market?

The report discusses in detail each pricing model and the pros and cons attached to every pricing model prevalent in the market. Also, the report provides insights with respect to the category supply chain and the margins of various suppliers within the supply chain. These market analysis data will enable the buyers to make informed strategic sourcing decisions. Buy the full background check services procurement market report now to get comprehensive details on pricing models

Price Strategies and Benchmark

Background Check Services Procurement Pricing Model

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To optimize the value of the purchase, it is crucial to keep a track of current and future price trends. Price forecasts are beneficial in purchase planning, especially when supplemented by the constant monitoring of price-influencing factors. During the forecast period, the market expects an incremental spend of USD 2006.00 million due to various market drivers prevalent across multiple regions. Also, the report speaks about various cost-saving factors through analysis of the below factors:

  • Identify favorable opportunities in background check services TCO (total cost of ownership)
  • Expected changes in price forecast and factors driving the current and future price changes
  • Identify pricing models that offer the most rewarding opportunities

What will the Spend Growth and Demand be by Region?

The background check services market will register an incremental spend of about USD 2006.00 million during the forecast period. However, only a few regions will drive the majority of this growth. Moreover, on the supply side, North America, Europe, and APAC will have the maximum influence owing to the supplier base. The growth is expected to be primarily driven by increasing demand and adoption of the category across those few regions. To get a detailed analysis of the volume drivers that are driving the adoption of the category across regions, buy the full report now!

The drivers and inhibitors that influence these global and regional outlooks are elaborated in detail in this procurement report. Our in-depth growth decomposition analysis covers details on:

  • Factors driving the growth (or lack of it) in individual geographies
  • Regions that hold the most rewarding opportunities for buyers and suppliers
  • Spend growth and regional spend segmentation over the coming years

Background Check Services Procurement Spend Growth Analysis

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What are the Major Category Management Objectives for Background Check Services Sourcing?

A targeted strategic approach to background check services sourcing will provide several opportunities. However, in the absence of actionable intelligence on background check services, buyers may end up focusing on a tactical sourcing strategy without any focus on cost-saving opportunities. Hence, this report focuses on category management initiatives such as top-line growth, scalability of inputs, and green initiatives, which will assist buyers in formulating a strategic procurement strategy

The report explains the following key category management objectives that should form the base for sourcing strategy.

Category Management Objectives for Background Check Services Sourcing

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In addition to helping buyers in identifying the strategic goals and initiatives for category management, the report also has detailed insights into the most outsourced category management activities and category enablers which can simplify the procurement process for buyers.

Scope of Background Check Services

Report Specs

Details

Page number

144

Base year

2022

Forecast period

2023-2027

Spend growth (CAGR)

7.07%

Incremental spend

USD 2006.00 million

Pricing growth outlook

7%-9%

Pricing models

Fixed fee pricing model, Transactional pricing model, and Subscription-based pricing model

Supplier selection scope

Scope of services, Regulatory compliance, Global screening capabilities, and Capabilities for in-depth screening

Supplier opportunities

Top-line growth, Scalability of inputs, Green initiatives, Adherence to regulatory nuances, Reduction of TCO, Category innovations, Cost savings, Customer retention, Minimalization of ad hoc purchases, Supply assurance, Demand forecasting and governance, and Supply base rationalization

Supplier selection criteria

Business needs, Technical specifications, Operational requirements, Security compliance, Regulatory mandates, Legal requirements, Quality control, Change management procedures, Pricing models, Penalty clauses, SLA nuances, Acceptance criteria, and Evaluation criteria

Category management scope

Top-line growth, Scalability of inputs, Green initiatives, Adherence to regulatory nuances, Reduction of TCO, Category innovations, Cost savings, Customer retention, Minimalization of ad hoc purchases, Supply assurance, Demand forecasting and governance, and Supply base rationalization

Top suppliers

KPMG International Ltd., Grant Thornton International Ltd., ADP, Inc, Insperity Inc., First Advantage, HireRight, Sterling Infosystems Inc., Deloitte Touche Tohmatsu Ltd., RefAssured, and PwC

Market dynamics

Regional category spend in terms of percentage with respect to North America, South America, Europe, Middle East and Africa and APAC and global category spend and CAGR in terms of percentage over a span of 5 years.

Customization scope

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Background Check Services Procurement

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Executive Summary

  • Executive Summary

    Market Insights

    • Global category spend
      • Spend segmentation by region
        • Regional spend dynamics
          • Regional influence on global spend
            • Regional spend opportunity for suppliers

              Category Pricing Insights

              • Pricing
                • Discounts on Prices
                  • Pricing outlook
                    • Supplier cost structure
                      • Overview of pricing models
                        • Comparison of pricing models
                          • Supply chain margins
                            • Cost and Volume drivers: Impact on pricing

                              Cost-saving Opportunities

                              • Cost-saving levers
                                • Quantifying cost-saving opportunities
                                  • Quantifying cost savings by negotiation strategies
                                    • Tactical cost saving levers
                                      • Strategic cost saving levers

                                        Best Practices

                                        • Innovation and success stories
                                          • Procurement excellence best practices
                                            • Procurement best practices
                                              • Sustainability practices

                                                Category Ecosystem

                                                • Market favorability index for suppliers
                                                  • Threat of rivalry
                                                    • Buyer power
                                                      • Supplier power
                                                        • Threat of new entrants
                                                          • Threat of substitutes
                                                            • Buyer ecosystem
                                                              • Supplier ecosystem
                                                                • Ecosystem disruption threats

                                                                  Category Management Strategy

                                                                  • Strategy objectives
                                                                    • Supplier and buyer KPI's
                                                                      • Outsourcing category management activities
                                                                        • Outsourcing category management activities
                                                                          • Risk management
                                                                            • Risk management

                                                                              Category Management Enablers

                                                                              • Procurement organization
                                                                                • Category enablers

                                                                                  Suppliers Selection

                                                                                  • RFx essentials
                                                                                    • Supplier selection criteria
                                                                                      • Service level agreement
                                                                                        • Incumbent supplier evaluation metrics

                                                                                          Suppliers under Coverage

                                                                                          • Suppliers covered
                                                                                            • Market positioning of suppliers
                                                                                              • Market positioning of suppliers
                                                                                                • KPMG International Ltd.
                                                                                                  • Grant Thornton International Ltd.
                                                                                                    • ADP, Inc
                                                                                                      • Insperity Inc.
                                                                                                        • First Advantage
                                                                                                          • HireRight
                                                                                                            • Sterling Infosystems Inc.
                                                                                                              • Deloitte Touche Tohmatsu Ltd.
                                                                                                                • RefAssured
                                                                                                                  • PwC

                                                                                                                    US Market Insights

                                                                                                                    • Category spend in the US
                                                                                                                      • Pricing outlook in the US
                                                                                                                        • Category margins
                                                                                                                          • Category cost drivers
                                                                                                                            • Category volume drivers
                                                                                                                              • Overview of best practices in the US
                                                                                                                                • US supply market overview
                                                                                                                                  • Market positioning of suppliers
                                                                                                                                    • Market positioning of suppliers
                                                                                                                                      • Regional category risks
                                                                                                                                        • Regional category risks

                                                                                                                                          Category Scope

                                                                                                                                          • Category scope

                                                                                                                                            Appendix

                                                                                                                                            • List of abbreviations
                                                                                                                                              • Key notes

                                                                                                                                                Research Framework

                                                                                                                                                SpendEdge presents a detailed picture of the market 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.

                                                                                                                                                INFORMATION SOURCES

                                                                                                                                                Primary sources

                                                                                                                                                • Procurement heads
                                                                                                                                                • Category managers
                                                                                                                                                • Sourcing consortium professionals
                                                                                                                                                • Industry experts and thought leaders
                                                                                                                                                • Procurement managers
                                                                                                                                                • Category heads of suppliers
                                                                                                                                                • Client account heads/managers
                                                                                                                                                • Client and industry consultants

                                                                                                                                                Secondary sources

                                                                                                                                                • Industry journals and reports
                                                                                                                                                • Periodicals and new articles
                                                                                                                                                • Category webinars
                                                                                                                                                • Internal categiry playbooks
                                                                                                                                                • Industry and government websites on regulations and compliance
                                                                                                                                                • Internal databases
                                                                                                                                                • Industry blogs/thought leader briefings

                                                                                                                                                DATA ANALYSIS

                                                                                                                                                Background Check Services Sourcing and Procurement Report by Top Spending Regions and Market Price Trends - Forecast and Analysis 2023-2027
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