Editing & Proofreading Services | Market, Trends, Growth | Suppliers Analysis

Strategic Sourcing Guide to Editing & Proofreading Services Procurement

Overview

Business practices within Editing & Proofreading Services market are heavily influenced by changing trends across the category as well as within the broader Printing Services market. High procurement costs put a hindrance for buyers looking for upgrading or replacing a printing asset. As an alternative, suppliers are offering cost-effective re-engineering capabilities such as retrofitting of existing equipment with new systems.

Many large and mid-sized companies, especially from legal, financial, healthcare and real estate sectors are still heavily reliant on paper. Off late, there is a growing concern on security of documents - whether printed or stored digitally on a connected printing device. To address this concern, suppliers are coming forward with solutions that offer print and document security and monitoring services.

Digital printing has made significant in-roads at the expense of offset printing owing to its benefits such as order flexibility, optimized stock handling, and minimization of time-to-market for printed content.

As a result, category managers need to closely monitor the Editing & Proofreading Services procurement trends and identify changes required in their procurement environment for the category.

Editing & Proofreading Services Procurement Best 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 Editing & Proofreading Services. To help quick decision making, this report advises on several procurement best practices that have worked well for category managers.

For example, Buyers should engage with service providers that offer binding and finishing services in a short TAT. This helps in eliminating issues related to scoring, folding, perforating, and binding within the digital printing process.

Buyers prefer to engage with service providers that adopt hedging techniques to mitigate the effects of fluctuations in printing ink prices. The majority of printing inks are primarily derivatives of crude oil, the prices of which are highly volatile. Thus, engaging with service providers that adopt hedging will allow buyers to minimize the impact of price fluctuations pertaining to printing inks during the contract tenure.

Buyers should compare critical capabilities of suppliers based on security policies regarding materials provided, types of printers used, print color guarantees and TAT and onboard those that can offer a one-stop solution.

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Risks in Editing & Proofreading Services procurement

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

Suppliers depend on various third-party vendors for providing IT support, storage, and distribution of print materials and inputs. Any supply failure on third-party vendor's part may lead to inconsistency and delay in the supply of print materials to buyers. Moreover, these supply inconsistencies may compel suppliers to procure the product from other suppliers at the market price, which could be higher than the contract price. This result in an increase in procurement cost for suppliers
Pricing terms in the contract could prove to be inadequate to safeguard the buyer from impact of a sudden increase in supplier's cost, often arising from a lack of clarity on scope of products or services to be delivered
Paper, ink, other raw materials, and fuel form important cost components for the broader print services category. However, the supply of raw materials such as fuel and paper is highly dependent on demand-supply fluctuations. Any increase in prices of these raw materials may critically affect the cash flow of commercial print suppliers and subsequently affect their ability to invest in CAPEX projects

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Who should read this report

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

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

Editing & Proofreading Services Category Insights: What is inside

The Editing & Proofreading Services 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 Editing & Proofreading Services procurement spend and pricing trends. The report further delves deep into the aspects of cost structure, total cost of ownership and supplier margins for Editing & Proofreading Services. 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 Editing & Proofreading Services 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 Editing & Proofreading Services 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 Editing & Proofreading Services 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.