LONDON--(BUSINESS WIRE)--SpendEdge, a global procurement market intelligence firm, has announced the release of their Global Corporate Purchasing Cards Category - Procurement Market Intelligence Report.
Corporate purchasing cards are gaining popularity among buyers because of their enhanced security features such as fingerprint authentication and other technical features. Such features are not only limiting the chances of fraudulent transactions but also enabling buyers to track their transactions and thereby, control their spend. These benefits are accelerating spend growth for the corporate purchasing cards category over the years. Frequent purchase rates in the retail industries are necessitating the usage of corporate purchasing cards that essentially simplify the P2P payment process which is also supplementing the category growth. Download the free sample of this corporate purchasing cards market intelligence report here!
The market for corporate purchasing cards in the US is attaining maturity with almost 70% of end-user sectors leveraging purchasing cards. Such a high usage rate is driving suppliers to enhance the features of the cards and boost its viability among buyers. They are developing virtual payables and web- and mobile-based payments that incorporate API connectivity. This will further accelerate the category spend growth in the US. Buyers in APAC are achieving almost 80% cost savings by preferring corporate purchasing cards overs the traditional payment methods. This is leading to the category observe its highest growth in APAC.
This corporate purchasing cards market intelligence report offers a detailed overview of the key cost drivers and category management insights that can aid in devising a sustainable procurement strategy. This corporate purchasing cards procurement research report also highlights the current supply market developments to help the buyers choose the appropriate vendors who can promise a steady supply assurance along with quality solutions. Not what you are looking for? Request for personalization of this corporate purchasing cards market intelligence report.
“Buyers prefer partnering with commercial banks who have fair experience with this category. Their experience enables them to offer a customized set of services at a marginal markup cost while also ensuring the reliability of suppliers,” says SpendEdge procurement expert Sumit Yadav.
This corporate purchasing cards market intelligence report has highlighted the following factors to play critical roles in influencing category spend. They include:
- Rising need to reduce P2P cycle will favor category growth
- Rise in interchange fees will increase category cost
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SpendEdge’s procurement market intelligence reports for the financial services category offer information on critical cost drivers and category pricing strategies to help the buyers achieve significant cost-savings. The supply market forecasts offer information on supplier performance benchmarking criteria to help buyers reduce spend and establish better SLAs. Additionally, SpendEdge’s reports offer category management insights and procurement best practices for the category.
Report scope snapshot: Corporate purchasing cards
Category ecosystem
- Market favorability index for suppliers
- Competitiveness index for suppliers
- Threat of new entrants
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Category management enablers
- Procurement organization
- Category enablers
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Category definition
- Category hierarchy
- Category scope
- Category map
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