About Dealership Accounting Software
Dealership accounting software is used to track and manage all money coming in and going out in the dealership business. It helps finance teams to track and manage the number of expenses and incomes like vehicle depreciation, bill payments, and other financial transactions to ensure every cent of the money is where it should be. In today’s time, many dealers are installing advanced solutions to automate the accounting process and eliminate errors and frauds.
Attributes | Details |
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Study Period | 2018-2028 |
Base Year | 2022 |
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. Analyst at AMA Research estimates that United States Players will contribute the maximum growth to Global Dealership 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.
Eagle Business Software (United States), Autosoft DMS (United States), FreshBooks (Canada), DealerSocket (United States), Dealer-Mate (United States), Xero (New Zealand), Sage Group (United States), Chetu (United States), Dealer Gears (Canada) and CDK Global (United States) are some of the key players that are part of study coverage.
Segmentation Overview
AMA Research has segmented the market of Global Dealership Accounting Software market by Type (PC Based and Mobile Apps) and Region.
On the basis of geography, the market of Dealership 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 Organization Size, the sub-segment i.e. SMEs will boost the Dealership 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-Users, the sub-segment i.e. Car Dealers will boost the Dealership 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, the sub-segment i.e. Cloud will boost the Dealership Accounting Software market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Increasing Innovation and High Adoption of Cloud-based Solutions
Market Growth Drivers:
Increased Use of Technological Advancements and Smart Accounting Software to Track and Maintain Financial Transactions and Increasing Number of Car Dealers Across the Globe
Challenges:
Slow Adoption of Dealership Accounting Software in Some Developing and Underdeveloped Countries
Restraints:
High Package Cost of Software Complexity in Implementation Compared to Manual Accounting
Opportunities:
Growing Popularity of Mobile-Based Dealership Accounting Software Will Create Opportunities
Market Leaders and their expansionary development strategies
In February 2020, DealerSocket, Inc., a leading provider of automotive software solutions announced the acquisition of Auto/Mate. Auto/Mate is a leading provider of dealer management systems (DMS) for automotive dealerships. The combination of DealerSocket and Auto/Mate will offer franchise dealers a complete platform of industry-leading and innovative software solutions.
In June 2021, Procede Software launched exceed asset management, a powerful solution to automate key dealership finance and accounting practices. It enables dealership finance and accounting staff to manage vehicle depreciation, note payments, and expense amortization within the system and eliminates the use of manual processes and spreadsheets. The application has been developed in collaboration with more than a dozen finance and accounting teams across the broad range of commercial vehicle dealerships and also tested by participants in the Excede Insider Program.
Key Target Audience
Dealership Accounting Software Developer, Government Bodies, Regulatory Bodies, Potential Investors, Research and Development 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.