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Procurement Market Intelligence Report

Expense Management Software Sourcing Guide & Market Trends

Comprehensive intelligence for making smart purchasing decisions

Learn about actual and potential costs

How much should I pay for Expense Management Software?

What is the average price of Expense Management Software?

This procurement report includes pricing information to help you purchase Expense Management Software. Our analysts provide a benchmark price and a price range based on key pricing factors to help you understand what you should be paying for this specific product or service. To see the average price for this and hundreds of other products and services, subscribe to ProcurementIQ.

Has the price of Expense Management Software been rising or falling?

Analysts look at market data from the previous three years to determine an overall price trend. You can use the recent price trends to help you understand price volatility and plan your budget.

I’m not ready to purchase Expense Management Software yet. Will I pay more if I wait too long?

We forecast the next three years of price movements by looking at factors likely to affect the market's supply chain, such as inputs, demand and competition. You can then use the price forecast to figure out the best time to purchase.

What other costs are associated with purchasing Expense Management Software?

Our analysts calculate the total cost of ownership and assign a level of low, moderate or high, depending on things like customization, integration and installation. Use this information to budget for Expense Management Software with a reduced risk of unexpected costs.

See how we display average pricing information, trends and market data.

Find the vendor to meet your needs

Where can I purchase Expense Management Software?

There is a low level of market share concentration in the expense management software market, with the top four vendors accounting for only 27.7% of total market revenue. Mostly low barriers to entry are partially responsible for the high fragmentation of the market. The primary difficulty facing new vendors is... Subscribe to learn more.

Questions to ask potential suppliers

How can I gain leverage during negotiations?

Customer Service

What are different ways to contact your customer service representatives? Which is the best way to reach them?

Are certain methods of contact better for specific issues?

How often do you update your customer service procedures?

Do you have a separate line or site for software-specific issues?

Talent Acquisition

What is your hiring process? What specific requirements do you have for your employees?

Are there certain qualities you look for in your employees? What about their educational background?

What kind of turnover does your company have? How do you limit potential turnover?

What is the average tenure among your employees?

Compatibility

Can your expense management software be used with other proprietary software that you own? How can they be used together?

Is your software compatible with other third-party software? If so, which ones?

Can you export your data as a digital file? What are other ways I could transmit this information?

What sort of implementation services do you have to smooth out potential adoption issues?

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Key elements for every RFP

What should my Expense Management Software RFP include?

Project Budget

Buyers should specify the total budget for their software purchase.

Buyers should include details about per-user spending expectations and limitations.

Buyers should request detailed information about software delivery methods and costs.

Selection Criteria

Buyers should look for providers that can offer software that meets the specifications outlined in the RFP.

Buyers should give preference to providers that can meet the budget requirements in the RFP.

Buyers should look for providers that have a reputation for reliable and effective software.

For a detailed list of key selection criteria, buyers should reference the Buying-Decision Scorecard section of this report.

Project Schedule

Buyers should include the date proposals are due.

Buyers should indicate the date by which the software needs to be installed.

Buyers should indicate how they want the software delivered or installed.

Evaluate major factors to mitigate risk

How risky is the Expense Management Software supply chain?

Supply chain risk for expense management software is low on average. However, any upstream risk that suppliers do face comes mostly from computer manufacturers. The market for computers is highly competitive, and many computer manufacturers carry a significant amount of financial risk as a result. This aspect of the supply... Subscribe to learn more.

HIGH

MEDIUM

LOW