About General ledger accounting software
General ledger software provides a whole record of the money management of a business, as well as the transactional records and therefore the account structure accustomed to organizing these entries into significant money data. It offers multi-dimensional visibility, simple multi-entity management, high practicality, and inflated efficiency within the management of company transactions, and different operations.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
CAGR | 9.2% |
The global market for General ledger accounting software is fragmented by the global key players owing to rising demand for smart and efficient solutions for the accounting application of different industries. The players should focus upon product enhancement and security build-up for safe and sound accounting task and sustain the market competition. 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.
AccuFund Accounting Suite (United States), Multiview Corporation (United States), Sage Intacct (United States), OSAS (United States), Acumatica Cloud ERP (United States), Aplos (United States), BQE Core (United States), Sage 50cloud (United Kingdom), Financial Edge NXT (United States), Sage Groups Plc (United Kingdom) and Finsync (United States) are some of the key players that are part of study coverage.
Segmentation Overview
AMA Research has segmented the market of Global General ledger accounting software market by and Region.
On the basis of geography, the market of General ledger 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 General ledger 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. On-premises will boost the General ledger accounting software market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by End Use Industry, the sub-segment i.e. BSFI will boost the General ledger 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 will boost the General ledger accounting software market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Functions, the sub-segment i.e. Revenue Recognition will boost the General ledger accounting software market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Technological Advancements in Data Management Solutions is Expected to Offer Significant Growth for Organisation
Market Growth Drivers:
Rising Demand for All-in-One Solution for CRM, Supply Chain Management, Human Resource Management with Financial Tracking for Organisations and Rising Demand for Cloud-Based Solutions for Lowering Manual Workload and Human Error in Accounting
Challenges:
Lack of Awareness About the Benefits of General Ledger Accounting Software and Data Security and Malware Attacks
Restraints:
Costs Associated with The Software Implementation and Maintenance
Opportunities:
Rise in Integration of the Software with Artificial Intelligence for Sourcing Transactions, Real-Time Updates Coupled with Centralization and Automation of Inter-Entity Transaction and Rise in Tool Addition for Automating Currency Rate Tables and Conversions, Eliminating Errors for Accounting Firms
Market Leaders and their expansionary development strategies
January 18, 2024: Zoho releases Zoho Finance Platform, a comprehensive suite of cloud-based accounting applications, including a new general ledger module. This platform caters to the needs of businesses of all sizes.
Key Target Audience
General ledger accounting software Provider, Software Management Firm, Research Institutes, End Users 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.