Market Share of Vendor Management Software Industry
The competitive rivalry in the vendor management software market is high owing to the presence of some key players like IBM, SAP SE, and many more. Their ability to continually innovate their offerings according to the needs and wants of the market allowed these players to gain a competitive advantage over their competitors. Strategic partnerships, mergers, acquisitions, and hefty research and development investments have allowed the market players to gain a strong foothold.
- August 2022 - Volt Systems, a software firm specializing in vendor management and product monitoring, was acquired by Walmart. According to a news statement from the company, Volt System's staff, technology, and client contracts will get transferred to Walmart as part of the transaction.
- November 2022 - Cloud5 Communications, a primary provider of technology and communications solutions to over 5,000 MDUs, hotels, and commercial buildings throughout the Americas, announced the release of its vendor Management system. Vendor Management uses the Project Management Office for Cloud5's extensive experience.
- July 2022 - TD SYNNEX announced the opening of its Independent Software Vendor (ISV) experience. The ISV experience is created to aid in accelerating Software-as-a-Service (SaaS) possibilities in the channel by leveraging the ecosystem of TD SYNNEX partners to power IT operations, automate challenging tasks and introduce new features and functionality. It is to increase sales, improve go-to-market strategies, and produce successful business outcomes.
Vendor Management Software Market Leaders
Intelex Technologies Inc.
MasterControl, Inc.
MetricStream Inc.
SAP SE
IBM Corporation
*Disclaimer: Major Players sorted in no particular order
