Scope of the Study
Business accounting software is a type of application software. This software allows businesses to record the flow of money for internal and external review and auditing. The advantage of this software is that it doing accurate forecasting. It is the primary tool for monitoring financial health of business and for meeting legal compliance through tools like general ledgers, account payable and receivables, purchase orders, stock management, and billing.
The market study is being classified by Type (Commercial Accounting Software, Enterprise Accounting Software and Custom Accounting Software), by Application (Small & Medium Businesses and Large Businesses) and major geographies with country level break-up.
NetSuite (United States), FreshBooks (Canada), SAP SE (Germany), Zoho Corporation (India), DEAR Systems (Georgia), Intuit Inc. (United States), Wave Financial (Canada), Deltek (United States), Sage Group plc (United Kingdom) and TEAM Software (United States) are some of the key players profiled in the study. Additionally, the Players which are also part of the research are Xero (New Zealand), Tipalti (United States), Horizon Technology Solutions (India) and Vyapar (India).
Research Analyst at AMA predicts that United States Players will contribute to the maximum growth of Global Business Accounting Software market throughout the predicted period.
AdvanceMarketAnalytics has segmented the market of Global Business Accounting Software market by Type, Application and Region.
On the basis of geography, the market of Business 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). Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
- Increasing Demand from End-Users for Performing Automated Core Calculations
- Rising Adoption of Cloud-Based Accounting Software for Accessing Financial Information from Cloud
- Security Concerns about the Financial Data
- Growing Infrastructure of Small and Large Businesses in Developing Countries
- Some Software has fewer features but Highly Expensive
- Lack of Customer Service given by Service Providers
Market Leaders and their expansionary development strategies
In April 2019, Starling Bank, the leading mobile bank, has partnered with accounting software provider FreeAgent to help small business owners cut the time they spend on daily admin, digitise their finances and relax about tax.
In March 2020, HostBooks Limited, a comprehensive cloud-based platform which offers business services such as tax compliance, financial record keeping and reporting, launched the mobile accounting app for small businesses with payroll integration and other services.
Key Target AudienceBusiness Accounting Software Developers, Software Integrator, Service Providers, Consulting Firms, End-Users and Others
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Data related to EXIM [Export- Import], production & consumption by country or regional level break-up can be provided based on client request**
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