According to the latest procurement intelligence report from Technavio,
equipment financing services market is expected to grow
at a CAGR of 5.2% over the next five years due to the need to maximize
productivity and efficiency by adoption of equipment financing services.
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Technavio has published a new report on the global equipment financing services market from 2017-2021. (Graphic: Business Wire)
The research report titled ‘Global
Equipment Financing Services Market: Procurement Market Intelligence
Report 2017-2021’ provides an in-depth analysis of category
spend, best procurement practices and cost saving opportunities, aimed
at helping organizations achieve superior business performance. The
report also provides insights on pricing, supplier positioning and top
companies, enabling sourcing professionals to improve their competitive
advantage through procurement excellence.
“The global equipment financing services industry is fueled by the rise
in new business volume along with the competition that drives firms to
maximize productivity and efficiency by adopting measures such as
procurement of equipment financing services, which provide competitive
advantages,” says lead Technavio procurement specialist Angad Singh for category
spend intelligence. “In addition, rise in investments in the
construction, transportation, and IT sectors will also drive the
market,” adds Angad.
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Cost saving opportunities in the equipment financing services market
The adoption of various cost-optimization levers helps buyers of
equipment financing services realize direct cost savings and enhance
category management and value benefits (including reduced procurement
Technavio procurement experts have segmented the cost saving
opportunities in the equipment financing services market into the
following value-enhancement opportunities:
Adoption of technology
Adoption of negotiation strategies
Optimization of procurement practices
Bundling of services
Adoption of technology saving aspects
Technologies such as web-based applications, data management systems,
RTLS, and predictive analytics allow buyers to obtain useful insights
about the equipment as well as the profitability of the financing
Buyers focus on adopting and implementing centralized programs and
systems that enhance visibility into the service and facilitate better
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Optimization of supplier competition saving aspects
Optimization of supply pool segregation is critical in the global
equipment financing services market. Technavio analysts suggest
benchmarking the services provided by suppliers in terms of contract
period and pre-closure options and negotiation with supplier in terms of
Buyers also prefer suppliers that understand the requirements in terms
of cash flow, budget, and tax requirements to structure an efficient
financing program that meets buyers' tax requirements.
Bundling of services saving aspects
One of the most opportunistic strategic cost saving levers in the global
equipment financing services market is the bundling of services.
Assistance in equipment selection and periodic performance review of the
equipment (in equipment leasing). Hence, buyers prefer using RTLS that
track and manage assets and equipment in real-time. Such systems also
allow buyers to reconsider their asset/equipment use.
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is a leading global technology research and advisory company. The
company develops over 2000 pieces of research every year, covering more
than 500 technologies across 80 countries. Technavio has about 300
analysts globally who specialize in customized consulting and business
research assignments across the latest leading edge technologies.
Technavio analysts employ primary as well as secondary research
techniques to ascertain the size and vendor landscape in a range of
markets. Analysts obtain information using a combination of bottom-up
and top-down approaches, besides using in-house market modeling tools
and proprietary databases. They corroborate this data with the data
obtained from various market participants and stakeholders across the
value chain, including vendors, service providers, distributors,
re-sellers, and end-users.
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View source version on businesswire.com: http://www.businesswire.com/news/home/20170526005715/en/