About Financial Software
Financial software is basically described as any type of computer software designed to help corporations and individuals manage business and finance ledger and other accounting services. It is used to track categorize income and expenses, financial accounts, synchronize transactions with banks and credit card companies, work with budgets, track and analyze investments, create financial and tax-related reports, provide at-a-glance snapshots of financial net worth, and pay bills online.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
The financial software market is fragmented as the market has a number of companies that offer management software and there are lots of new companies entering the financial software market due to relative ease of developing software. The companies are exploring the market by 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.The Players having a strong hold in the market are Microsoft, IBM, Oracle, and Fiserv, Inc.. Analyst at AMA Research estimates that United States Players will contribute the maximum growth to Global Financial 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.
Microsoft (United States), IBM (United States), Oracle (United States), Fiserv, Inc. (United States), SAP SE (Germany), FIS Global (United States), Temenos Group AG (Switzerland), SS&C Technologies, Inc. (United States), NCR Corporation (United States), Intuit Inc. (United States) and Finastra (United Kingdom) are some of the key players that are part of study coverage. Additionally, the Players which are also part of the research coverage are DataArt (United States), NetSuite Inc. (United States), SunGard (United States), Blackline Inc (United States) and Truist Financial Corporation (United States).
Segmentation Overview
AMA Research has segmented the market of Global Financial Software market by Type (Financial Management and Tax Software), Application (Banking, Income Flow, Investing, Planning, Importing Tools, Tax Form Preparation, E-Filing and Others) and Region.
On the basis of geography, the market of Financial 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 End Use Verticals, the sub-segment i.e. BFSI will boost the Financial Software market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Organization Size, the sub-segment i.e. Small and Medium-Sized Enterprises (SMEs) will boost the Financial 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 Financial Software market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Pricing Type, the sub-segment i.e. Monthly Subscription will boost the Financial Software market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Rising Trend of Flexibility in Customization of Any Equipment So As To Predict the Cash Flow and Budget Accurately
Market Growth Drivers:
Growing Demand of Different Sectors for Getting Complete Solutions and Services of Financial and Increasing Demand for Financial Management from the End-Use Industries
Challenges:
Lack of Service Disruptions or Data Safety and Security
Restraints:
Lack of Technical Expertise and Working Professional
Opportunities:
Growing Governmental Regulations for Developing Infrastructure and Growing Technical Advancements
Market Leaders and their expansionary development strategies
In February 2023, Coupa Software, a leader in Business Spend Management (BSM), today announced the completion of its acquisition by Thoma Bravo, a leading software investment firm. This acquisition is an opportunity for us to strengthen our business fundamentals and continue delivering leading-edge innovation on our platform.
On 27th January 2020, Finastra is investing further in Israel with a new office in Kfar Saba, just outside Tel Aviv. The move will help the company support technological and financial innovation in the region, and drive adoption of its open development platform.
Key Target Audience
Financial Software Providers, Potential Technology Investors, Regulatory & Government Bodies, Downstream Vendors, End Users and Other
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.