What is Construction Accounting Software Market?
Construction accounting software is a platform that helps contractors to track financial data of the project they are engaged with, the software processes the information used for the important financial application such as accounts payable, receivables, general ledger, and other functions. It automates the management of accounting data like tracking and material billing. It is used in small medium and large size organization for easy management of accounting information.
The market study is being classified, by Application (SMEs, Large Organization and Other) and major geographies with country level break-up.
Procore Technologies (United States), CMiC (Canada), Microsoft Corporation (United States), Sage Group plc (United Kingdom), Jonas Construction Software Inc. (Canada), Contractors Software Group Inc. (United States), Computer Guidance Corporation (United States) and Spitfire Management, LLC (United States) are some of the key players profiled in the study.
Analyst at AMA have segmented the market study of Global Construction Accounting Software market by Type, Application and Region.
On the basis of geography, the market of Construction 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.
- Need for Automation in Managing a Large Amount of Accounting Information and Reduces Manual Work
- Demand for Keeping Project, Company Expenses Separate and Tracking the Cost of Paying Workers
- Integration of Artificial Intelligence in the Management of Construction Accounting Software
- Issues with the Inaccuracy in Financial Reports in case of Error in Entering the Data
- Emerging Number of Construction Projects Requires Management of Finance
- Technological Upgradation in the Construction Accounting Software
- Technical Errors Like Glitches and Troubleshooting Problems
Market Leaders and some development strategies
On 10th March 2020, TAG, a premier Sage construction software value-added reseller (VAR), announced a partnership agreement with Sage Intacct. By offering a new native cloud solution that is built on proven technology for the construction sector, TAG expands its suite of software selection within the Sage family. These features sit on the Sage Intacct multi-tenant platform and can easily integrate with an array of operational applications.
On 4th August 2020, Thoma Bravo to acquire construction accounting software firm. Buyout firm Thoma Bravo LLC, which targets software and technology-enabled services businesses, agreed to purchase construction accounting software and payroll services provider Foundation Software Inc.
Key Target AudienceConstruction Accounting Software Developers, Construction Accounting Industry Association, Research and Development Institutes, Potential Investors, Regulatory Bodies and Others
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