PUBLISHER: QKS Group | PRODUCT CODE: 1637615
PUBLISHER: QKS Group | PRODUCT CODE: 1637615
This product includes two reports: Market Share and Market Forecast.
QKS Group Reveals that Vendor Management System (VMS) Market is Projected to Register a CAGR of above average by 2028 in the Asia (Excluding Japan and China).
Asia, excluding Japan and China, is swiftly emerging as a critical market for Vendor Management System (VMS) software. The region is currently undergoing rapid digital transformation across a myriad of industries, driven by the increasing convergence of business strategies with advanced technological solutions. This transformation is catalyzing the demand for robust VMS solutions. Enterprises across Asia, excluding Japan and China, are increasingly recognizing the value of VMS software that supports the entire lifecycle of products-from initial ideation and design to manufacturing, distribution, and end-of-life management. These solutions are pivotal in fostering collaboration, enhancing product quality, and accelerating time-to-market. Consequently, this region is witnessing significant growth in the adoption of VMS software. Businesses are leveraging these tools to streamline operations, enhance agility, and gain a competitive edge in the dynamic landscape of product development and management across Asia, excluding Japan and China.
Quadrant Knowledge Solutions defines VMS "as a software that assists organizations in automating and optimizing various processes related to managing contingent or contractual workforce and their service providers. The VMS also streamlines activities such as searching for talent, hiring, engagement, invoicing, payment processing, and overall management of contingent workforce operations. The key functionalities of VMS software include managing end-to-end activities such as hiring processes, onboarding and offboarding procedures, workflow and requisition management, candidate tracking, contract management, payroll processing, billing and invoicing, performance monitoring, spend tracking, and compliance management. Additionally, VMS offers comprehensive tools to efficiently manage all aspects of the contingent workforce within an organization."
QKS Group Reveals that Vendor Management System (VMS) Market is Projected to Register a CAGR of above average by 2028 in Asia Ex Japan China.
Asia Ex Japan China is currently experiencing a surge in the adoption of Vendor Management System (VMS) software, propelled by a significant digital transformation across various industries. Companies in the region are increasingly integrating VMS solutions to streamline vendor relationships, enhance procurement processes, and strengthen operational efficiencies.
The robust capabilities of VMS software, which facilitate comprehensive vendor lifecycle management from sourcing and onboarding to performance monitoring and contract management, are enabling organizations to foster strategic partnerships, optimize vendor selection, and achieve cost savings. This trend underscores the growing importance of advanced VMS technologies in Asia Ex Japan China, empowering businesses to navigate global supply chain complexities, mitigate risks, and maintain compliance with regulatory standards.
Quadrant Knowledge Solutions defines VMS "as a software that assists organizations in automating and optimizing various processes related to managing contingent or contractual workforce and their service providers. The VMS also streamlines activities such as searching for talent, hiring, engagement, invoicing, payment processing, and overall management of contingent workforce operations. The key functionalities of VMS software include managing end-to-end activities such as hiring processes, onboarding and offboarding procedures, workflow and requisition management, candidate tracking, contract management, payroll processing, billing and invoicing, performance monitoring, spend tracking, and compliance management. Additionally, VMS offers comprehensive tools to efficiently manage all aspects of the contingent workforce within an organization."