What is CPA Software Market?
Because Certified Public Accountants (CPAs) manage the finances for dozens or even hundreds of companies and individuals, they need software that can keep up. CPA-specific accounting programs are designed for multi-company payroll, expense, and reporting, and include useful tools such as auditing, tax preparation, and time-based accounting. CPA software offers bespoke financial management solutions. A CPA (Certified Public Accounting) company is an officially registered company that provides auditing, tax, and accounting services to its customers. CPA companies have to deal with multiple customers and their data and need highly secure software to ensure data protection. In order to streamline various processes and flexibly handle several types of industry, the software combines general ledgers, trial balance, bank reconciliation statements, payroll, taxes, and cost headers. Add-on functions such as project planning and management, budgeting, inventory tracking, payment processing, test tests, and reporting combine all accounting requirements under one roof.
The market study is being classified by Type (On-Premise, Web-Based and Cloud-Based), by Application (SMEs and Large Enterprises) and major geographies with country level break-up.
Zoho Corporation (India), 2ndsite Inc. (Canada), MultiView (United States), NetSuite Inc. (United States), Cougar Mountain Software (United States), FINSYNC (United States), Deskera ERP (United States), QuickBooks (United States), SAP (Germany), Sage Group (United Kingdom), Flexi (United States), Xledger Inc. (United States) and BQE Software Inc. (United States) are some of the key players profiled in the study. Additionally, the Players which are also part of the research are Unanet (United States), Beyond Software (United States) and Xero (New Zealand).
The companies are now exploring the market by adopting mergers & acquisitions, expansions, investments, new developments in existing products, and collaborations as their preferred strategies. The players are also exploring new geographies and industries through expansions and acquisitions so as to avail a competitive advantage through combined synergies. Research Analyst at AMA predicts that United States Players will contribute to the maximum growth of Global CPA Software market throughout the predicted period.
Segment Analysis
Analyst at AMA have segmented the market study of Global CPA Software market by Type, Application and Region.
On the basis of geography, the market of CPA Software has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Market Drivers
- Growing Use of Custom CPA Software to Save Time and Also Ensure an Error-Free Transaction
- Increasing Use of Software Owing To Increase Profitability by Automating and Integrating Human Resource Systems in Large Enterprises
- Increasing Demand from End-Users for Performing Automated Core Calculations
Market Trend
- Increasing Use of Cloud CPA Software with the Integrations and Extensions
- Adoption of Machine Learning Technology in Software
Restraints
- Data Security and Privacy Concern Issues
Opportunities
- The Growing Popularity of Digital Commerce and Online Based Applications Leads to the Growth for Custom CPA Software
- Growing Infrastructure of Small and Large Businesses in Developing Countries
Challenges
- Lack of Expertise in the Workforce
Key Target Audience
Providers of CPA Software, End-Users, Potential Investors, Market Research Firms and Others