Reconciliation is a process which is used by accounting professionals for comparing the set of two records for checking the monthly statements of an individual. The reconciliation software helps enterprises improve the quality and accuracy of their accounting process and also reduces errors and inaccuracies. Furthermore, it also provide organizations with a complete control over the automation process by managing key processes securely and efficiently. In addition, many industries such as BFSI and retail are adopting this software to gain full control over the billing process and have transparency in accounting. Moreover, the rise in adoption of cloud-based reconciliation software among various SMEs is expected to provide a lucrative opportunity for the market.
Increase in online transactions among various industries and rise in need for reconciliation management system drive the growth of the market. In addition, growing adoption of automated banking solutions across the globe to reduce reconciliation time fuels the growth of the market. However, various security issues in reconciliation software hampers the growth of the market. Furthermore, higher adoption of reconciliation software among the SMEs and rise in usage of machine learning and artificial intelligence in reconciliation software are the factors expected to provide lucrative opportunities for the growth of the market.
The account reconciliation software market is segmented on the basis of component, deployment mode, enterprise size, reconciliation type, industry vertical and region. In terms of component, it is bifurcated into software and services. By deployment model, it is segmented into on-premise and cloud. In terms of enterprise size, it is segmented into large enterprise and small & medium enterprises. As per reconciliation type, it is divided into bank reconciliation, customer reconciliation, inter-company reconciliation and others. In terms of industry vertical, it is divided into BFSI, manufacturing, retail & e-commerce, healthcare, IT & telecom, energy & utilities, government & public sector, and others. By region, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The key players profiled in the account reconciliation software market analysis include AutoRek, BlackLine, Inc., Broadridge Financial Solutions, Inc., Fiserv, Inc., Oracle Corporation, Quickbooks, ReconArt, Inc., SAP SE, Sage Software Solution Pvt. Ltd. and Xero Limited. These players have adopted various strategies to increase their market penetration and strengthen their position in the industry.
KEY BENEFITS FOR STAKEHOLDERS
KEY MARKET SEGMENTS
By Component
By Deployment Model
By Enterprise Size
By Reconciliation Type
By Industry Vertical
By Region
KEY MARKET PLAYERS
Increase in online transactions among various industries and rise in need for reconciliation management system drive the growth of the market. In addition, growing adoption of automated banking solutions across the globe to reduce reconciliation time fuels the growth of the market. However, various security issues in reconciliation software hampers the growth of the market. Furthermore, higher adoption of reconciliation software among the SMEs and rise in usage of machine learning and artificial intelligence in reconciliation software are the factors expected to provide lucrative opportunities for the growth of the market.
The account reconciliation software market is segmented on the basis of component, deployment mode, enterprise size, reconciliation type, industry vertical and region. In terms of component, it is bifurcated into software and services. By deployment model, it is segmented into on-premise and cloud. In terms of enterprise size, it is segmented into large enterprise and small & medium enterprises. As per reconciliation type, it is divided into bank reconciliation, customer reconciliation, inter-company reconciliation and others. In terms of industry vertical, it is divided into BFSI, manufacturing, retail & e-commerce, healthcare, IT & telecom, energy & utilities, government & public sector, and others. By region, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The key players profiled in the account reconciliation software market analysis include AutoRek, BlackLine, Inc., Broadridge Financial Solutions, Inc., Fiserv, Inc., Oracle Corporation, Quickbooks, ReconArt, Inc., SAP SE, Sage Software Solution Pvt. Ltd. and Xero Limited. These players have adopted various strategies to increase their market penetration and strengthen their position in the industry.
KEY BENEFITS FOR STAKEHOLDERS
- The study provides an in-depth analysis of the global account reconciliation software market forecast along with the current & future trends to elucidate the imminent investment pockets.
- Information about key drivers, restraints, and opportunities and their impact analysis on the global account reconciliation software market size are provided in the report.
- Porter’s five forces analysis illustrates the potency of the buyers and suppliers operating in the industry.
- The quantitative analysis of the market for the period 2019–2027 are provided to determine the market potential.
KEY MARKET SEGMENTS
By Component
- Software
- Service
By Deployment Model
- On-Premise
- Cloud
By Enterprise Size
- Large Enterprises
- Small & Medium Enterprises (SMEs)
By Reconciliation Type
- Bank Reconciliation
- Customer Reconciliation
- Inter-company Reconciliation
- Others
By Industry Vertical
- BFSI
- Manufacturing
- Retail & E-Commerce
- Healthcare
- IT & Telecom
- Energy & Utilities
- Government & Public Sector
- Others
By Region
- North America
- U.S.
- Canada
- Europe
- UK
- Germany
- France
- Italy
- Spain
- Netherlands
- Rest of Europe
- Asia-Pacific
- China
- India
- Japan
- Singapore
- Australia
- Rest of Asia-Pacific
- LAMEA
- Latin America
- Middle East
- Africa
KEY MARKET PLAYERS
- AutoRek
- BlackLine, Inc.
- Broadridge Financial Solutions, Inc.
- Fiserv, Inc.
- Oracle Corporation
- Quickbooks
- ReconArt, Inc.
- SAP SE
- Sage Software Solution Pvt. Ltd.
- Xero Limited
Table of Contents
Chapter 1. Introduction
Chapter 2. Executive Summary
Chapter 3. Market Overview
Chapter 4. Global Account Reconciliation Software Market, by Component
Chapter 5. Global Account Reconciliation Software Market, by Deployment Mode
Chapter 6. Global Account Reconciliation Software Market, by Enterprise Size
Chapter 7. Global Reconciliation Software Market, by Opreating System
Chapter 8. Global Account Reconciliation Software Market, by Industry Vertical
Chapter 9. Global Account Reconciliation Software Market, by Region
Chapter 10. Company Profile
Methodology
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
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