SpendEdge, a global procurement market intelligence firm, has announced the release of their Global Accounting and Auditing Services Category – Procurement Market Intelligence Report.
The accounting and auditing services category largely accredits its accelerating spend momentum to the lack of in-house expertise on accounting standards that is compelling enterprises to depend on external accounting and auditing services providers. Of all the category segments, the tax compliance and audit service segments account for a share of about 70% of the total category revenue in 2017 and will continue to grow at a steady pace through 2023. However, the growing popularity of predictive analytics methods to obtain real-time advice on any potential issues will inhibit the category growth for the next ten years. Request your free sample copy of this accounting and auditing services market intelligence report here!
While stringent audit-related regulations and frequent outsourcing of the services by the telecommunication and oil and gas sectors will promote the category growth in the US, the popularity of accounting systems that use predictive analytics methods will inhibit the category demand in the region. The gradual shift towards digital and online platforms for auditing services and the increase in M&A activities for the better category promotion is contributing to the category growth in APAC. Last year, APAC accounted for about USD 124.80bn category spend and is expected to continue growing at a faster pace.
This accounting and auditing services procurement research report highlights the best category pricing strategies to facilitate a cost-effective procurement. A holistic category overview offered in this report includes information on the pricing models, supply chain margins, supplier cost structure, and regional spend dynamics. Ask for a customized version of this accounting and auditing services procurement research report here for free.
Service providers that adopt cloud accounting will benefit buyers with reduced overhead costs that are generally associated with establishing a physical infrastructure such as hardware platforms, says SpendEdge procurement expert Tridib Bora. Cloud computing will also address the buyers dynamic needs such as real-time access to audit data, added Tridib.
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This accounting and auditing services procurement research report has identified the following factors to influence the category growth:
- Growing stringency of audit-related regulations will drive the category growth
- Increasing salary of accountants and auditors will drive the category price growth
- Buy the complete accounting and auditing services market intelligence report here to explore its complete scope of coverage.
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SpendEdges 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 report provides information on supplier performance benchmarking criteria to help buyers reduce spend and establish better SLAs. Additionally, SpendEdges reports offer category management insights and procurement best practices for the category.
Report scope snapshot: Accounting and auditing services
- 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 hierarchy
- Category scope
- Category map
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