About Accounting Management Software
Accounting management software automates the company's accounting functions and transactions including accounts receivable, payable, billing, invoicing, tax management, payroll management, and more. It assists the accountants and bookkeepers in reporting the transactions eliminating the risk of errors and providing effectiveness to the management of the company. The software is followed in the larges, medium-small size enterprises around the world.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
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.
FreshBooks (Canada), Intuit Inc. (United States), SAP SE (Germany), Oracle Corporation (United States), IRIS Software (United States), Sage Group plc (United Kingdom), Epicor Software Corporation (United States), Infor (United States), Wave (Canada) and Deltek Vision (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 Assist Cornerstone (United States), HostBooks Limited (India) and Others.
Segmentation Overview
AMA Research has segmented the market of Global Accounting Management Software market by Type (Embedded Accounting Software Packages, Online Solutions Accounting Software and Desktop Non-embedded Solutions Accounting Software), Application (Manufacturing, Services and Retail) and Region.
On the basis of geography, the market of Accounting Management 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 Option, the sub-segment i.e. Monthly Subscription will boost the Accounting Management 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. Cloud-based will boost the Accounting Management 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. Accounts Receivable will boost the Accounting Management Software market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by End User, the sub-segment i.e. CPA Firms will boost the Accounting Management Software market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Increasing Use of Cloud Accounting Management Software with the Integrations and Extensions
Market Growth Drivers:
Need for the Automation in the Accounts Management of Company and Demand for the Efficient and Effective Management of Accounting for Better Productivity with a Reduction in Error and Manual Work
Challenges:
Maintenance Support Packages Needed in the Accounting Management Software
Restraints:
Online Fraud Related Issues in the Accounting Management Software
Opportunities:
Surging Demand for Better Data Analytics in the Accounting for Effective Business Planning
Market Leaders and their expansionary development strategies
In September 2019, IRIS Software Group announced it's the acquisition of Innervision, a global provider of lease accounting software, lease management consultancy, and services. The deal is the next step in IRIS Software Group’s strategy to lead with compliance-driven software expertise in domestic and international markets and is its fourth acquisition during 2019.
In March 2020, HostBooks Accounting Software Company has announced the launch of its mobile app to help small businesses with payroll integration and other services. and In February 2020, FreshBooks, small business accounting software in America, with paying customers in 100+ countries, today announced its official launch in the UK. To mark the launch, FreshBooks is announcing a new suite of features designed to help UK-based small businesses grow and succeed while preparing for Making Tax Digital and future compliance requirements.
Key Target Audience
Accounting Management Software Developers, Accounting Management Industry Association, Research and Development Institutes, Potential Investors, 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.