Hospitality Accounting Software Market Scope
Hospitality Accounting Software helps a large number of people who are owning a large share of food chains, with large client turnover rates, a lot of data is collected by the hospitality industry, including hotels and restaurants. In addition to traditional accounting features, applications specially developed for hotels and restaurants can receive and process reservations and provide other functionality that handles daily activities, such as staff management, food cost management, and billing guests based on room costs and related facilities. Thus making an urgent need for use of this software, hence enhancing the need for hospitality accounting software.
The market study is being classified by Type (Billing and Invoicing Systems, Payroll Management Systems, Enterprise Resource Planning Systems and Time and Expense Management Systems), by Application (Small and Medium Enterprises (SMEs) and Large Enterprises) and major geographies with country level break-up.
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 Research Analyst at AMA predicts that United States Players will contribute to the maximum growth of Global Hospitality Accounting Software market throughout the predicted period.
Intuit Inc. (United States), Sage Software Inc. (United States), SAP SE (Germany), Oracle Corporation (United States), Microsoft Corporation (United States), Infor Inc. (United States), Horizon Technology Solutions (India), Zoho Corp (India), FreshBooks (Canada), NetSuite (United States) and Deltek (United States) are some of the key players profiled in the study. Additionally, the Players which are also part of the research are Epicor Software Corporation (United States), Unit4 Business Software Limited (Belgium), Xero Ltd (New Zealand), Red Wing Software Inc. (United States) and Open Systems Inc. (United States).
AdvanceMarketAnalytics has segmented the market of Global Hospitality Accounting Software market by Type, Application and Region.
On the basis of geography, the market of Hospitality 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).
Market Leaders and their expansionary development strategies
In April 2019, Infor acquired Efficient Frontiers, Inc. dba ReServe Interactive. This acquisition is aimed to help Infor expand its presence in stadiums, entertainment centers, convention centers and others. The company uses the ReServe’s cloud-based platform to offer advanced functionalities via Infor CloudSuite hospitality
- Increase Demand for Cloud-Based Accounting Software
- Users Prefer Cloud-Based Systems to On-Premise
- Increased Efficiency with the use of Hospitality Accounting Software
- Increasing Restaurant and Hotel Chains Across the World
- Indeed the growth of the Food Supply Chain in this Pandemic Times has created a Boom for this Market
- Data Security Issues May Restraint the Growth of the Market
- High Initial Cost of this Software
- Lack of Knowledge about this Software
- Lack of Integration
Key Target AudienceHospitality Accounting Software Providers, Potential Technology Investors, Regulatory & Government Bodies, End Users, Downstream Vendors, End Users and Others
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