Scope of the Study
Cloud Financial Planning and Analysis (FP&A) is a decision-making platform that includes reporting, analysis, planning, budgeting, forecasting, and financial modeling. FP&A process complexity is higher compared to traditional transactional processes. Cloud FP&A enables organizations to have integrated financial reporting and consolidation solutions anywhere anytime worldwide. This cloud-based FP&A enables users to use all the benefits of the cloud without the cost or overhead of owning an on-premise custom application. It helps in financial planning & analytics for budgeting and forecasting, departmental expense planning, workforce planning, currency translation, and much more due to this benefits the demand for cloud financial planning and analysis (FP&A) has increased rapidly from the last few years.
The market study is being classified by Type (Solution and Service) and major geographies with country level break-up.
Workiva (United States), Workday, Inc. (United States), Prophix, Inc. (United States), IBM Corporation (United States), OneStream Software LLC (United States), Wolters Kluwer N.V. (Netherlands), Anaplan (United States), Oracle Corporation (United States), SAP SE (Germany), BOARD International S.A. (Switzerland), Axiom Software Solutions Limited (United States), Longview (Canada), Jedox AG (United States), Centage Corporation (United States), Vena Solutions Inc. (Canada), DataRails Ltd. (United States), Host Analytics Inc. (United States), Kepion (United States), Infor (United States), SigmaConso SA (Belgium) and CP Corporate Planning AG (Germany) are some of the key players profiled in the study.
The cloud financial planning and analysis market is seen to be highly competitive due to the growing adoption of cloud FP&A and the presence of a limited number of vendors in the market to compete. According to AMA research, the intense competition, changing consumer spending patterns, technological evolutions, and frequent changes in consumer preferences pose significant opportunities for the growth of the cloud FP&A market. Research Analyst at AMA predicts that North America and Europe Players will contribute to the maximum growth of Global Cloud Financial Planning and Analysis market throughout the predicted period.
AdvanceMarketAnalytics has segmented the market of Global Cloud Financial Planning and Analysis market by Type, Application and Region.
On the basis of geography, the market of Cloud Financial Planning and Analysis 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 Financial Planning and Analysis Activities
- Ease to Monitoring Working Capital and Cash Flow in Organizations
- Growing Need to Have Statistical Analysis to Measure and Plan Business Operations
- Proliferation of ”Big Data” and Associated Analytics
- Lack of Continuous On-Demand Planning and Forecasting
- Better Management of Expenses and Risk Analysis
- Heavy Investment in Cloud FP&A by End User Industry
- Accelerating Shift from Mature On-premises Offerings to Cloud Solutions
- Lack of Skilled FP&A Professionals
Market Leaders and their expansionary development strategies
In August 2018, Workday, Inc. completed the acquisition of Adaptive Insights, a leading cloud-based company for modernizing business planning. With this acquisition, Workday customers will be equipped to better plan, execute, and analyze across the enterprise in one cloud platform to drive their financial and business transformations.
Analyst CommentThe growing penetration of cloud technology has increased the market demand for cloud financial planning and analysis. The demand for the vendor-specific cloud FP&A is increasing due to the need to have business oriented cloud environment and security. Also, the need for better management of expenses and risk analysis within minimal cost has increased the demand for cloud FP&A.
Key Target AudienceNew Entrants/Investors, Analysts and Strategic Business Planners, Cloud Financial Planning and Analysis Manufacturer, Cloud Service Providers, Financial Planning Institutes, Government Regulatory and Research Organizations, End-User Industries 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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