Increase in Number of Financial Regulations Driving the Revenues in Forensic Accounting Services Market
London, Mar 07, 2018: The rise in the number of financial regulations such as the SOX Act and Dodd-Frank Act has led to a rise in adoption of forensic accounting services among organizations. This is mainly because these services protect organizations from financial and legal risks. It is estimated that the rise in the number of regulations will increase the revenue of forensic accounting services market.
SpendEdge’s latest procurement research report on the global forensic accounting services market offers an in-depth assessment of the crucial factors influencing the supply market, strategic procurement and sourcing decisions, pricing models, and procurement best practices. The report, a part of the financial services, also offers detailed insights into the supply chain management, key market developments, and demand-supply shifts to help sourcing and procurement experts make smart procurement decisions.
“The need to store a vast amount of data is driving buyers to use big data. This, in turn, is increasing buyers’ demand for forensic accounting services to be performed on large amount of data to identify fraudulent cases and minimize risks associated with it. This will drive buyers to outsource forensic accounting services.” – Tridib Bora, financial services expert at SpendEdge.
Buyers face issues related to vendor lock-in as it is difficult to switch from one service provider to another. High switching costs and sharing of a large amount of data with service providers have made it difficult for buyers to shift to another service provider. Such vendor lock-in issues are causing procurement challenges in the forensic accounting services market.
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This procurement report on the forensic accounting services market offers insights on:
- Supply markets, growth drivers, trends, and imminent restraints
- Key suppliers and assessment of their capabilities
- Procurement best practices
- Negotiation strategies and cost-saving opportunities
- Pricing models and category innovations
- For a comprehensive, detailed list, view our full report
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