Field Service Management Software | Market, Trends, Growth | Suppliers Analysis

Strategic Sourcing Guide to Field Service Management Software Procurement

Overview

Several macro changes in the dynamics of overall End User Software and Hardware as well as Field Service Management Software procurement trends are poised to change the business practices and procurement thumb rules. Rise in the cost of certain essential assets and supplies required to deliver Field Service 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 Field Service Management Software market.

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.

Stringency in the regulatory norms pertaining to data protection and cybersecurity has increased compliance and security burden on suppliers. These additional costs have a potential to drive marginal increase in prices across the key geographies.

Category managers need to take note of the potential of these developments and reassess the changes required in their procurement practices.

Field Service Management Software Procurement Best Practices

The report discusses in detail the best practices that have served well the category managers responsible for Field Service Management Software procurement.

For example, Developing a strong understanding of the potential vulnerabilities of service providers can help buyers limit their potential losses and also gives the bargaining power to demand services from more robust measures in the SLA.

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.

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.

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Risks in Field Service Management Software procurement

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

Consistent evolution in the technological landscape of IT support services is increasing the risk of technology used by service providers becoming obsolete, which can prevent buyers from engaging with them
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
Natural disasters can sometimes impact the entire industry to a significant extent and disrupt supply chains. For example, during the floods that ravaged Thailand in 2011, many electronic manufacturing facilities were flooded and the prices of peripherals shot up by more than 100%

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Who should read this report

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

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

Field Service Management Software Category Insights: What is inside

The Field Service Management Software 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 Field Service Management Software procurement spend and pricing trends. The report further delves deep into the aspects of cost structure, total cost of ownership and supplier margins for Field Service Management Software. 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 Field Service Management Software 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 Field Service Management Software 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 Field Service Management Software 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.