Market Snapshot:
Accounting software refers to a type of application that records and processes accounting transactions in functional segments such as Accounts Payable, Accounts Receivable, Journal, General Ledger, Payroll, and Trial Balance. It acts as an accounting information system that assists accountants in capturing and reporting a company's financial transactions. Different companies have different accounting software requirements. Some may just need general off-the-shelf accounting software, while others may need customized, complex accounting software. The main goal of accounting is to systematically record financial transactions to help users understand the day-to-day transactions systematically to gain knowledge of the overall business.
Highlights from Accounting Software for Consultants Market Study
Attributes | Details |
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Study Period | 2018-2028 |
Base Year | 2022 |
Unit | Value (USD Million) |
The key Players profiled in the report are Tipalti (United States), NetSuite (United States), Sage Intacct (United States), Cougar Mountain Software (United States), Deskera ERP (Singapore), Multiview (United States), Workday Adaptive Planning (United States), Budgyt (United States) and Divvy (United States). Additionally, other players that are part of this comprehensive study are Vena Solutions (Canada) and Certify Inc. (United States).
Geographic Breakdown and Segment Analysis
The Global Accounting Software for Consultants market presents a comprehensive analysis of the Accounting Software for Consultants market by product type (Cloud-based and On-premises), by end-user/application (Small and Medium Enterprises (SMEs) and Large Enterprises), and by geography (North America, South America, Europe, Asia-Pacific and MEA) along with country level break-up. This section of our report presents a realistic picture of the Global Accounting Software for Consultants industry. Investors and Players can easily understand the inherent opportunities and challenges for their products in geographical region of interest.
For instance, while the holds majority of market share of the Accounting Software for Consultants market
Analyst at AMA have segmented the market study of Global Accounting Software for Consultants market by Type, Application and Region.
Influencing Trend:
Rising Adoption of Cloud-Based Accounting Software for Consultants for Getting Information from the Cloud and The Adoption of Automation
Market Growth Drivers:
Increased Efficiency with the use of Accounting Software, Increasing Adoption of Cloud-based Applications, Increasing Demand from End-Users for Performing Automated Core Calculations and Ease of Integration with Existing Software Platforms
Challenges:
Lack of Integrations and Increasing Competition
Restraints:
Data Security Issues
Opportunities:
Growing Infrastructure of Small and Large Businesses in Developing Countries
Market Developments Activities:
In November 2022, Sikich, an accounting and tax audit firm, acquired Accelerated Growth, a consulting firm specializing in accounting, finance, and technology solutions. This strategic move strengthens Sikich's capabilities in providing comprehensive services to its clients and expands its expertise in the areas of financial management and technology consulting.
In April 2022, Stripe introduced the Stripe Partner Ecosystem, a new program designed to collaborate with industry-leading firms that provide services empowering businesses to flourish in the digital economy. As a financial infrastructure platform, Stripe aims to enhance the capabilities of its users by partnering with these trusted organizations within its ecosystem. Together, they can offer a comprehensive suite of services that cater to the diverse needs of businesses operating in the online realm.
The companies are now exploring the market by adopting mergers & acquisitions, expansions, investments, new developments in existing products, and collaborations as their preferred strategies. The players are also exploring new geographies and industries through expansions and acquisitions so as to avail a competitive advantage through combined synergies.
Key Target Audience
Providers of Accounting Software for Consultants, End-Users, Potential Investors, Market Research Firms and Others