About General Ledger Software
The general ledger software delivers a complete record of the financial management of an organization or business, it tracks the financial status of the business on day to day basis to help make smart and profitable business decisions. The information tracked includes the transactional records and the account structure used to organize the entries into meaningful information. These entries or transactions are listed in the chart of accounts based on assets, liabilities, equity, expenses, and revenue. The software automation helps in validating data entry which is accurate and efficient.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
CAGR | 8.2% |
The companies are exploring the market by adopting mergers & acquisitions, expansions, investments, new service launches and collaborations as their preferred strategies. The players are exploring new geographies through expansions and acquisitions to avail a competitive advantage through combined synergies. Established and emerging Players should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Sage Group (Sage Intacct) (United States), OSAS (United States), Acumatica, Inc. (United States), SAP SE (Germany), Oracle (United States), SoftLedger (United States), Multiview Corporation (Canada), FlexiInternational Software, Inc. (United States), ScaleFactor (United States) and MRI Software, LLC (United States) are some of the key players that are part of study coverage. Additionally, the Players which are also part of the research coverage are Cougar Mountain Software (United States) and Blackbaud (United States).
Segmentation Overview
AMA Research has segmented the market of Global General Ledger Software market by , Application (SMEs and Large Enterprises) and Region.
On the basis of geography, the market of General Ledger 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). If we see Market by Pricing, the sub-segment i.e. Free Trial will boost the General Ledger Software market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Deployment, the sub-segment i.e. On-Premise will boost the General Ledger Software market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Features, the sub-segment i.e. Parallel Accounting will boost the General Ledger Software market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Rising Usage of General Ledger Software in Small Medium Enterprises of Asia Pacific Regions
Market Growth Drivers:
Need for Management of Accounting Ledgers of Organisations For Proper Financial Recording and The Demand for Growing Computerized Accounting
Challenges:
Technical Issues with General Ledger Software and Stiff Competition in General Ledger Software Market
Restraints:
Risk of Data Vulnerability to Hackers Might Hider the General Ledger Software Market
Opportunities:
Increasing Accounting Educational Firms Across the World will Boost the General Ledger Software Market and Surging Demand for General Ledger Software from Developing Economies
Market Leaders and their expansionary development strategies
November 10, 2023: Xero partners with Stripe to simplify and automate international payments within their general ledger platform.
December 12, 2023: Microsoft Dynamics 365 Business Central launches a new "Financial Reporting" module, offering enhanced reporting capabilities for small and medium businesses.
Key Target Audience
General Ledger Software Developers, Industry Associations, Accounting Firm, Regulatory Bodies and Others
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.