Network Monitoring Software | Market, Trends, Growth | Suppliers Analysis

Strategic Sourcing Guide to Network Monitoring Software Procurement

Overview

End User Software and Hardware market around the world is undergoing rapid transitions that have a massive potential to influence the way companies strategize for Network Monitoring Software procurement and the cost they have to incur. The ecosystem of Network Monitoring Software is part of an industry which is developing a host of new transformative technologies. Billions of dollars are being invested into this industry, and companies are in cutthroat competition to discover the next game changing technology, hardware, software, and services.

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.

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.

Network Monitoring Software 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 Network Monitoring Software. To help quick decision making, this report advises on several procurement best practices that have worked well for category managers.

For example, Prior to the commencement of contract-related discussions, buyers must ensure that they have clearly identified and listed down potential levers, such as duration of contract, resources required, space limits if relevant, terms of payment, expected resolution time, delivery point.

Transferring to a new supplier can be often costly and can further get exacerbated by instances of vendor lock-ins. Buyers must scrutinize the offerings of service providers for any possibilities of vendor lock-ins and demand client testimonials from service providers to assess such possibilities. Watch out for products/services that are priced excessively low, as they can often result in costly lock-ins.

Category managers must explore opportunities to integrate planning and management activities using analytics to gain better control over category spend. This will also allow them to consolidate supply base easily as well as segment service providers depending on requirements and spend on each service provider.

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Risks in Network Monitoring Software procurement

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

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%
When requirements of the buyers are not absolutely clear or usage patterns are not stable or predictable, suppliers often build in \"cost buffers\" for unforeseen risks due to a lack of complete understanding on buyer's requirements. This increases the risk of overspending on Network Monitoring Software
An increase in the integration of IT systems is amplifying the risk of cyberattacks and theft of sensitive data

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Who should read this report

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

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

Network Monitoring Software Category Insights: What is inside

The Network Monitoring 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 Network Monitoring 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 Network Monitoring 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 Network Monitoring 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 Network Monitoring 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 Network Monitoring 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.