Market Overview: 10% Growth In ePurchasing Software Market Makes 2014 A Year For Buyers

For sourcing and vendor management (SVM) professionals and for CIOs, winning, serving, and retaining customers involves more than acquiring the right front-office technologies; it also involves technologies for buying, sourcing, contracting, and managing vendors of the goods and services that go into the creation and delivery of customer value. We call these technologies ePurchasing software, and they support both tech management's own purchases of tech goods and services for its own use, and its businesses partners' purchases of all other goods and services. For firms that sell to other businesses, understanding what customers are using to source and buy from their suppliers is also useful to be able to win and retain client relationships. This report provides our latest overview of this software market, and the forces that will shape it in 2014. We are predicting that the overall category will grow by 10%, with double-digit growth for software-as-a-service (SaaS) eProcurement products and similar growth rates for spend analysis, contract life-cycle management (CLM), services procurement, and supplier network services.