Market Overview:
The global account reconciliation software market is expected to grow at a CAGR of 7.5% during the forecast period from 2018 to 2030. The growth in this market can be attributed to the increasing demand for cloud-based account reconciliation software and the growing need for automated solutions among banks and enterprises. North America is expected to lead the global account reconciliation software market in terms of revenue during the forecast period, followed by Europe and Asia Pacific.
Product Definition:
Account reconciliation software is a program that helps businesses track and reconcile their account balances. This type of software can automate the process of reconciling accounts, making it easier and faster for businesses to keep track of their finances. Account reconciliation software is important because it helps businesses ensure that their account balances are accurate and up-to-date.
Cloud based:
Cloud based software is a type of software service model that provides shared computer resources over the internet. It is an on-demand service and uses virtualization technology to provide computing services. Cloud based solutions are gaining popularity due to its cost effectiveness, flexibility, scalability and reliability features along with reduced operational costs which in turn helps organizations improve their business processes significantly.
On premise:
On premise is a term used for software or hardware installed at the customer's site. The on-premise solution is an integral part of the account reconciliation process and it plays a vital role in data accuracy. It also helps in reducing processing time, improving data quality, and increasing user productivity by delivering accurate information to users through their preferred channel i.e., desktop or mobile application with minimal efforts from the vendor’s end.
Application Insights:
The banks segment accounted for the largest revenue share of over 60% in 2017. The banks use this software to manage their accounts receivable and payables. It also helps them in generating bills, invoices and other financial documents. This is beneficial as it reduces the manual efforts required to prepare accurate account statements, which can be used for various accounting purposes such as tax preparation or reporting on a specific date range. Moreover, with the help of GA RCS, companies can provide better customer services by monitoring sales & purchases effectively across all channels and improving upon existing customer relationships through interaction marketing activities such as surveys & feedback forms etc.
The enterprise application segment is expected to register a significant CAGR during the forecast period owing to its ability of providing real-time insights into business operations enabling effective decision-making processes leading towards improved business productivity thereby driving demand globally over next eight years.
Regional Analysis:
North America accounted for the largest revenue share in 2017. The growth is attributed to the presence of a large number of global banks that are early adopters of advanced technologies. Moreover, increasing use of mobile devices and cloud-based services by enterprises has led to an increase in demand for global account reconciliation software solutions.
Asia Pacific is expected to witness significant growth over the forecast period owing to increasing adoption by small & medium enterprises (SMEs). SMEs are majorly involved in cross-border trade, which leads them into incurring losses due to fraud or theft committed by their foreign suppliers or counterparties on a periodic basis. This can be remedied with automated accounting systems that provide real-time visibility into transactions across multiple locations and currencies thus reducing risk and uncertainty associated with international trade activities thereby driving market growth over the forecast period.
Growth Factors:
- Increasing demand for automated account reconciliation software from small and medium-sized businesses (SMBs) due to the benefits it offers such as improved accuracy, efficiency, and security.
- The growing trend of cloud-based deployment of account reconciliation software, which allows users to access the software from any device or location with an internet connection.
- The increasing use of artificial intelligence (AI) and machine learning in account reconciliation software to automate the process and improve accuracy.
- The rising demand for compliance-related features in account reconciliation software due to the increasing number of regulatory mandates globally.
- The growing popularity of Robotic Process Automation (RPA) among organizations as a way to streamline accounting processes, including account reconciliations
Scope Of The Report
Report Attributes
Report Details
Report Title
Account Reconciliation Software Market Research Report
By Type
Cloud based, On premise
By Application
Banks, Enterprise
By Companies
Broadridge, AutoRek, ReconArt, SmartStream, Oracle, SS&C, Adra, BlackLine, Treasury, Xero, DataLog, Cashbook, Rimilia, Fiserv
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
246
Number of Tables & Figures
173
Customization Available
Yes, the report can be customized as per your need.
Global Account Reconciliation Software Market Report Segments:
The global Account Reconciliation Software market is segmented on the basis of:
Types
Cloud based, On premise
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Banks, Enterprise
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- Broadridge
- AutoRek
- ReconArt
- SmartStream
- Oracle
- SS&C
- Adra
- BlackLine
- Treasury
- Xero
- DataLog
- Cashbook
- Rimilia
- Fiserv
Highlights of The Account Reconciliation Software Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Cloud based
- On premise
- By Application:
- Banks
- Enterprise
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Account Reconciliation Software Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
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- Correctly Positioning New Products
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8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
Account reconciliation software is a computer program that helps businesses reconcile their bank and accounting accounts. This software can help businesses track their spending, income, and assets.
Some of the major players in the account reconciliation software market are Broadridge, AutoRek, ReconArt, SmartStream, Oracle, SS&C, Adra, BlackLine, Treasury, Xero, DataLog, Cashbook, Rimilia, Fiserv.
The account reconciliation software market is expected to grow at a compound annual growth rate of 7.5%.
1. Executive Summary
2. Assumptions and Acronyms Used
3. Research Methodology
4. Account Reconciliation Software Market Overview
4.1. Introduction
4.1.1. Market Taxonomy
4.1.2. Market Definition
4.2. Macro-Economic Factors
4.2.1. Industry Outlook
4.3. Account Reconciliation Software Market Dynamics
4.3.1. Market Drivers
4.3.2. Market Restraints
4.3.3. Opportunity
4.3.4. Market Trends
4.4. Account Reconciliation Software Market - Supply Chain
4.5. Global Account Reconciliation Software Market Forecast
4.5.1. Account Reconciliation Software Market Size (US$ Mn) and Y-o-Y Growth
4.5.2. Account Reconciliation Software Market Size (000 Units) and Y-o-Y Growth
4.5.3. Account Reconciliation Software Market Absolute $ Opportunity
5. Global Account Reconciliation Software Market Analysis and Forecast by Type
5.1. Market Trends
5.2. Introduction
5.2.1. Basis Point Share (BPS) Analysis by Type
5.2.2. Y-o-Y Growth Projections by Type
5.3. Account Reconciliation Software Market Size and Volume Forecast by Type
5.3.1. Cloud based
5.3.2. On premise
5.4. Absolute $ Opportunity Assessment by Type
5.5. Market Attractiveness/Growth Potential Analysis by Type
6. Global Account Reconciliation Software Market Analysis and Forecast by Application
6.1. Market Trends
6.2. Introduction
6.2.1. Basis Point Share (BPS) Analysis by Application
6.2.2. Y-o-Y Growth Projections by Application
6.3. Account Reconciliation Software Market Size and Volume Forecast by Application
6.3.1. Banks
6.3.2. Enterprise
6.4. Absolute $ Opportunity Assessment by Application
6.5. Market Attractiveness/Growth Potential Analysis by Application
7. Global Account Reconciliation Software Market Analysis and Forecast by Sales Channel
7.1. Market Trends
7.2. Introduction
7.2.1. Basis Point Share (BPS) Analysis by Sales Channel
7.2.2. Y-o-Y Growth Projections by Sales Channel
7.3. Account Reconciliation Software Market Size and Volume Forecast by Sales Channel
7.3.1. Manufacturer/Distributor/Service Provider
7.3.2. Aftermarket
7.4. Absolute $ Opportunity Assessment by Sales Channel
7.5. Market Attractiveness/Growth Potential Analysis by Sales Channel
8. Global Account Reconciliation Software Market Analysis and Forecast by Region
8.1. Market Trends
8.2. Introduction
8.2.1. Basis Point Share (BPS) Analysis by Region
8.2.2. Y-o-Y Growth Projections by Region
8.3. Account Reconciliation Software Market Size and Volume Forecast by Region
8.3.1. North America
8.3.2. Latin America
8.3.3. Europe
8.3.4. Asia Pacific
8.3.5. Middle East and Africa (MEA)
8.4. Absolute $ Opportunity Assessment by Region
8.5. Market Attractiveness/Growth Potential Analysis by Region
8.6. Global Account Reconciliation Software Demand Share Forecast, 2019-2026
9. North America Account Reconciliation Software Market Analysis and Forecast
9.1. Introduction
9.1.1. Basis Point Share (BPS) Analysis by Country
9.1.2. Y-o-Y Growth Projections by Country
9.2. North America Account Reconciliation Software Market Size and Volume Forecast by Country
9.2.1. U.S.
9.2.2. Canada
9.3. Absolute $ Opportunity Assessment by Country
9.4. North America Account Reconciliation Software Market Size and Volume Forecast by Application
9.4.1. Banks
9.4.2. Enterprise
9.5. Basis Point Share (BPS) Analysis by Application
9.6. Y-o-Y Growth Projections by Application
9.7. North America Account Reconciliation Software Market Size and Volume Forecast by Type
9.7.1. Cloud based
9.7.2. On premise
9.8. Basis Point Share (BPS) Analysis by Type
9.9. Y-o-Y Growth Projections by Type
9.10. Market Attractiveness/Growth Potential Analysis
9.10.1. By Country
9.10.2. By Product Type
9.10.3. By Application
9.10.4. By Sales Channel
9.11. North America Account Reconciliation Software Demand Share Forecast, 2019-2026
10. Latin America Account Reconciliation Software Market Analysis and Forecast
10.1. Introduction
10.1.1. Basis Point Share (BPS) Analysis by Country
10.1.2. Y-o-Y Growth Projections by Country
10.1.3. Latin America Average Pricing Analysis
10.2. Latin America Account Reconciliation Software Market Size and Volume Forecast by Country
10.2.1. Brazil
10.2.2. Mexico
10.2.3. Rest of Latin America
10.3. Absolute $ Opportunity Assessment by Country
10.4. Latin America Account Reconciliation Software Market Size and Volume Forecast by Application
10.4.1. Banks
10.4.2. Enterprise
10.5. Basis Point Share (BPS) Analysis by Application
10.6. Y-o-Y Growth Projections by Application
10.7. Latin America Account Reconciliation Software Market Size and Volume Forecast by Type
10.7.1. Cloud based
10.7.2. On premise
10.8. Basis Point Share (BPS) Analysis by Type
10.9. Y-o-Y Growth Projections by Type
10.10. Market Attractiveness/Growth Potential Analysis
10.10.1. By Country
10.10.2. By Product Type
10.10.3. By Application
10.10.4. By Sales Channel
10.11. Latin America Account Reconciliation Software Demand Share Forecast, 2019-2026
11. Europe Account Reconciliation Software Market Analysis and Forecast
11.1. Introduction
11.1.1. Basis Point Share (BPS) Analysis by Country
11.1.2. Y-o-Y Growth Projections by Country
11.1.3. Europe Average Pricing Analysis
11.2. Europe Account Reconciliation Software Market Size and Volume Forecast by Country
11.2.1. Germany
11.2.2. France
11.2.3. Italy
11.2.4. U.K.
11.2.5. Spain
11.2.6. Russia
11.2.7. Rest of Europe
11.3. Absolute $ Opportunity Assessment by Country
11.4. Europe Account Reconciliation Software Market Size and Volume Forecast by Application
11.4.1. Banks
11.4.2. Enterprise
11.5. Basis Point Share (BPS) Analysis by Application
11.6. Y-o-Y Growth Projections by Application
11.7. Europe Account Reconciliation Software Market Size and Volume Forecast by Type
11.7.1. Cloud based
11.7.2. On premise
11.8. Basis Point Shar (BPS) Analysis by Type
11.9. Y-o-Y Growth Projections by Type
11.10. Market Attractiveness/Growth Potential Analysis
11.10.1. By Country
11.10.2. By Product Type
11.10.3. By Application
11.10.4. By Sales Channel
11.11. Europe Account Reconciliation Software Demand Share, 2019-2026
12. Asia Pacific Account Reconciliation Software Market Analysis and Forecast
12.1. Introduction
12.1.1. Basis Point Share (BPS) Analysis by Country
12.1.2. Y-o-Y Growth Projections by Country
12.1.3. Asia Pacific Average Pricing Analysis
12.2. Asia Pacific Account Reconciliation Software Market Size and Volume Forecast by Country
12.2.1. China
12.2.2. Japan
12.2.3. South Korea
12.2.4. India
12.2.5. Australia
12.2.6. Rest of Asia Pacific (APAC)
12.3. Absolute $ Opportunity Assessment by Country
12.4. Asia Pacific Account Reconciliation Software Market Size and Volume Forecast by Application
12.4.1. Banks
12.4.2. Enterprise
12.5. Basis Point Share (BPS) Analysis by Application
12.6. Y-o-Y Growth Projections by Application
12.7. Asia Pacific Account Reconciliation Software Market Size and Volume Forecast by Type
12.7.1. Cloud based
12.7.2. On premise
12.8. Basis Point Share (BPS) Analysis by Type
12.9. Y-o-Y Growth Projections by Type
12.10. Market Attractiveness/Growth Potential Analysis
12.10.1. By Country
12.10.2. By Product Type
12.10.3. By Application
12.10.4. By Sales Channel
12.11. Asia Pacific Account Reconciliation Software Demand Share, 2019-2026
13. Middle East & Africa Account Reconciliation Software Market Analysis and Forecast
13.1. Introduction
13.1.1. Basis Point Share (BPS) Analysis by Country
13.1.2. Y-o-Y Growth Projections by Country
13.1.3. Asia Pacific Average Pricing Analysis
13.2. Middle East & Africa Account Reconciliation Software Market Size and Volume Forecast by Country
13.2.1. Saudi Arabia
13.2.2. South Africa
13.2.3. UAE
13.2.4. Rest of Middle East & Africa (MEA)
13.3. Absolute $ Opportunity Assessment by Country
13.4. Middle East & Africa Account Reconciliation Software Market Size and Volume Forecast by Application
13.4.1. Banks
13.4.2. Enterprise
13.5. Basis Point Share (BPS) Analysis by Application
13.6. Y-o-Y Growth Projections by Application
13.7. Middle East & Africa Account Reconciliation Software Market Size and Volume Forecast by Type
13.7.1. Cloud based
13.7.2. On premise
13.8. Basis Point Share (BPS) Analysis by Type
13.9. Y-o-Y Growth Projections by Type
13.10. Market Attractiveness/Growth Potential Analysis
13.10.1. By Country
13.10.2. By Product Type
13.10.3. By Application
13.10.4. By Sales Channel
13.11. Middle East & Africa Account Reconciliation Software Demand Share, 2019-2026
14. Competition Landscape
14.1. Global Account Reconciliation Software Market: Market Share Analysis
14.2. Account Reconciliation Software Distributors and Customers
14.3. Account Reconciliation Software Market: Competitive Dashboard
14.4. Company Profiles (Details Overview, Financials, Developments, Strategy)
14.4.1. Broadridge
14.4.1.1. Overview
14.4.1.2. Financials
14.4.1.3. Developments
14.4.1.4. Strategic Outlook
14.4.2. AutoRek
14.4.2.1. Overview
14.4.2.2. Financials
14.4.2.3. Developments
14.4.2.4. Strategic Outlook
14.4.3. ReconArt
14.4.3.1. Overview
14.4.3.2. Financials
14.4.3.3. Developments
14.4.3.4. Strategic Outlook
14.4.4. SmartStream
14.4.4.1. Overview
14.4.4.2. Financials
14.4.4.3. Developments
14.4.4.4. Strategic Outlook
14.4.5. Oracle
14.4.5.1. Overview
14.4.5.2. Financials
14.4.5.3. Developments
14.4.5.4. Strategic Outlook
14.4.6. SS&C
14.4.6.1. Overview
14.4.6.2. Financials
14.4.6.3. Developments
14.4.6.4. Strategic Outlook
14.4.7. Adra
14.4.7.1. Overview
14.4.7.2. Financials
14.4.7.3. Developments
14.4.7.4. Strategic Outlook
14.4.8. BlackLine
14.4.8.1. Overview
14.4.8.2. Financials
14.4.8.3. Developments
14.4.8.4. Strategic Outlook
14.4.9. Treasury
14.4.9.1. Overview
14.4.9.2. Financials
14.4.9.3. Developments
14.4.9.4. Strategic Outlook
14.4.10. Xero
14.4.10.1. Overview
14.4.10.2. Financials
14.4.10.3. Developments
14.4.10.4. Strategic Outlook
14.4.11. DataLog
14.4.11.1. Overview
14.4.11.2. Financials
14.4.11.3. Developments
14.4.11.4. Strategic Outlook
14.4.12. Cashbook
14.4.12.1. Overview
14.4.12.2. Financials
14.4.12.3. Developments
14.4.12.4. Strategic Outlook
14.4.13. Rimilia
14.4.13.1. Overview
14.4.13.2. Financials
14.4.13.3. Developments
14.4.13.4. Strategic Outlook
14.4.14. Fiserv
14.4.14.1. Overview
14.4.14.2. Financials
14.4.14.3. Developments
14.4.14.4. Strategic Outlook
14.4.15. COMPANY 15
14.4.15.1. Overview
14.4.15.2. Financials
14.4.15.3. Developments
14.4.15.4. Strategic Outlook
14.4.16. COMPANY 16
14.4.16.1. Overview
14.4.16.2. Financials
14.4.16.3. Developments
14.4.16.4. Strategic Outlook
14.4.17. COMPANY 17
14.4.17.1. Overview
14.4.17.2. Financials
14.4.17.3. Developments
14.4.17.4. Strategic Outlook
14.4.18. COMPANY 18
14.4.18.1. Overview
14.4.18.2. Financials
14.4.18.3. Developments
14.4.18.4. Strategic Outlook
14.4.19. COMPANY 19
14.4.19.1. Overview
14.4.19.2. Financials
14.4.19.3. Developments
14.4.19.4. Strategic Outlook
14.4.20. COMPANY 20
14.4.20.1. Overview
14.4.20.2. Financials
14.4.20.3. Developments
14.4.20.4. Strategic Outlook