According to the latest report by IMARC Group, titled “Account Reconciliation Software Market: Global Industry Trends, Share, Size, Growth, Opportunity, and Forecast 2022–2027”, the market is expected to reach a value of 5.8 billion USD by 2027 exhibiting a CAGR of 14.80% over the period 2022-2027.
Account reconciliation software is a technologically advanced tool that centralizes the financial close process and automates it for smooth business operation. It collects general ledger data and compares it to bank statements and invoices for quick account reconciliation. It is easy to configure and user-friendly with multiple functionalities and features, such as transaction matching, reporting, classification and issue management. As a result, it is used by organizations around the world to maximize productivity, improve efficiency and save time by minimizing the need for manual calculations and data manipulation.
like the novel coronavirus (COVID-19) The crisis is taking over the world, we are constantly monitoring the changes in the markets, as well as the industrial behavior of consumers around the world and our estimates on the latest market trends and forecasts are made after taking into account the impact of this pandemic. .
Global Account Reconciliation Software Market Tendencies:
Account reconciliation software provides a streamlined method of ensuring balance sheet accuracy by analyzing discrepancies, comparing data, and attaching additional documents. This, in conjunction with the growing need for standardized business and customer-centric banking solutions and the growing number of online transactions and credit card payments, is driving the use of account reconciliation software in the industry. banking, financial services and insurance (BFSI). Apart from this, the introduction of innovative account reconciliation software integrated with Artificial Intelligence (AI) and Machine Learning (ML) is expanding its application in e-commerce, retail , health, telecommunications and information technology (IT).
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Global Account Reconciliation Software Market Analysis and segmentation 2022-2027:
The competitive landscape of the market has been studied in the report with the detailed profiles of the major players operating in the market.
API Software Limited, BlackLine Inc., Broadridge Financial Solutions Inc., Fiserv Inc., Intuit Inc., Oracle Corporation, ReconArt Inc., Sage Group plc, SmartStream Technologies Ltd., Trintech Inc. and Xero Limited.
The report has segmented the market based on region, component, mode of deployment, organization size, and end user.
Breakdown by component:
Breakdown by deployment mode:
Breakdown by organization size:
- Small and medium enterprises
- Large companies
Breakdown by end user:
- Retail and e-commerce
- Health care
- IT and Telecom
- Energy and Utilities
- Government and public sector
Breakdown by region:
- North America: (United States, Canada)
- Asia-Pacific: (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe: (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America: (Brazil, Mexico, Others)
- Middle East and Africa
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Main highlights of the report:
- Market Performance (2016-2021)
- Market Outlook (2022-2027)
- Porter’s Five Forces Analysis
- Market drivers and success factors
- SWOT analysis
- Value chain
- Complete mapping of the competitive landscape
If you need specific information that is not currently covered in the report, we can provide it to you as part of the customization.
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