Accounting Management Software Market Definition
Accounting management software automates the company's accounting functions and transactions including accounts receivable, payable, billing, invoicing, tax management, payroll management, and more. It assists the accountants and bookkeepers in reporting the transactions eliminating the risk of errors and providing effectiveness to the management of the company. The software is followed in the larges, medium-small size enterprises around the world.
The market study is broken down by Type (Embedded Accounting Software Packages, Online Solutions Accounting Software and Desktop Non-embedded Solutions Accounting Software), by Application (Manufacturing, Services and Retail) and major geographies with country level splits.
FreshBooks (Canada), Intuit Inc. (United States), SAP SE (Germany), Oracle Corporation (United States), IRIS Software (United States), Sage Group plc (United Kingdom), Epicor Software Corporation (United States), Infor (United States), Wave (Canada), Deltek Vision (United States), Assist Cornerstone (United States) and HostBooks Limited (India) are some of the key players that are part of study coverage.
AdvanceMarketAnalytics has segmented the market of Global Accounting Management Software market by Type, Application and Region.
On the basis of geography, the market of Accounting Management 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). If we see Market by Pricing Option, the sub-segment i.e. Monthly Subscription will boost the Accounting Management Software market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Deployment, the sub-segment i.e. Cloud-based will boost the Accounting Management Software market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Features, the sub-segment i.e. Accounts Receivable will boost the Accounting Management Software market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by End User, the sub-segment i.e. CPA Firms will boost the Accounting Management Software market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Market Leaders and their expansionary development strategies
On 5th September 2019, IRIS Software Group announced it's the acquisition of Innervision, a global provider of lease accounting software, lease management consultancy, and services. The deal is the next step in IRIS Software Groupís strategy to lead with compliance-driven software expertise in domestic and international markets and is its fourth acquisition during 2019.
On 5th March 2020, HostBooks Accounting Software Company has announced the launch of its mobile app to help small businesses with payroll integration and other services. and On 11th February 2020, FreshBooks, small business accounting software in America, with paying customers in 100+ countries, today announced its official launch in the UK. To mark the launch, FreshBooks is announcing a new suite of features designed to help UK-based small businesses grow and succeed while preparing for Making Tax Digital and future compliance requirements.
- Increasing Use of Cloud Accounting Management Software with the Integrations and Extensions
- Need for the Automation in the Accounts Management of Company
- Demand for the Efficient and Effective Management of Accounting for Better Productivity with a Reduction in Error and Manual Work
- Surging Demand for Better Data Analytics in the Accounting for Effective Business Planning
- Online Fraud Related Issues in the Accounting Management Software
- Maintenance Support Packages Needed in the Accounting Management Software
Key Target AudienceAccounting Management Software Developers, Accounting Management Industry Association, Research and Development Institutes, Potential Investors, Regulatory Bodies and Others
About ApproachThe research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from total available market.
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