About Custom Accounting Software
Custom accounting software is a system that is customized according to the business requirements. It allows organization to make changes in already made accounting software. The software is made user-specific to fulfill the requirements of the user that is not covered by the original accounting software. It helps to improve profitability, efficiency, operations and reduces costs. Filing business taxes are a complex process that requires one to keep close track of all business transactions, this software helps make this process easier by collecting all details in a single system.
Attributes | Details |
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Study Period | 2017-2027 |
Base Year | 2021 |
Unit | Value (USD Million) |
The market for custom accounting Software is fragmented with the presence of many players. Leading players can adopt strategies like a merger, acquisition, expansion, new product launch, in order to gain share within the market. Owing to booming industrialization & urbanization, there are growing prospects for new players to enter the market. Analyst at AMA Research estimates that United States Players will contribute the maximum growth to Global Custom Accounting Software market throughout the forecasted period. 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), Zoho Corporation Pvt. Ltd. (India), Epicor Software Corporation (United States), Divvy (United States), Oracle Corporation (United States), Sage (United Kingdom), Scoro (United Kingdom), Brightpearl (United Kingdom) and Ceridian HCM, Inc. (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 Horizon Technology Solutions (India), Odoo (Belgium), DoliCloud (France), NGSoftware (Australia) and Slick Account Pvt. Ltd. (India).
Segmentation Overview
AMA Research has segmented the market of Global Custom Accounting Software market by and Region.
On the basis of geography, the market of Custom Accounting 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 Enterprise Size, the sub-segment i.e. Small and Medium Enterprise will boost the Custom Accounting Software market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Deployment Type, the sub-segment i.e. Cloud-based will boost the Custom Accounting Software market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Platform, the sub-segment i.e. IOS will boost the Custom Accounting Software market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Pricing, the sub-segment i.e. Monthly Subscription will boost the Custom Accounting Software market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Use of Cloud-Based Custom Accounting Software and Adoption of Machine Learning Technology in Software
Market Growth Drivers:
Growing Use of Custom Accounting Software to Save Time and Also Ensure an Error-Free Transaction and Increasing Use of Software Owing To Increase Profitability by Automating and Integrating Human Resource Systems in Large Enterprises
Challenges:
Lack of Expertise in the Workforce
Restraints:
Data Security and Privacy Concern Are Associated With Custom Accounting Software
Opportunities:
The Growing Popularity of Digital Commerce and Online Based Applications Leads to the Growth for Custom Accounting Software
Market Leaders and their expansionary development strategies
In September 2023, NetSuite, a cloud-based business management software provider, announced the acquisition of Trintech, a cloud-based financial reporting software provider. The acquisition is expected to enhance NetSuite's financial reporting capabilities and help businesses gain better insights into their financial data.
In October 2023, Sage Intacct Launches New Custom Report Builder the new tool allows users to create custom reports without the need for any coding or programming experience. The Custom Report Builder can be used to create reports on a wide range of data, including financial data, sales data, and customer data.
Key Target Audience
Custom Accounting Software providers, New Entrants/Investors, Analysts and Strategic Business Planners and Providers, Venture Capitalists and Private Equity Firms, Government Regulatory and Research Organizations, End-Use Industry 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.