Global Financial Close Software Market Growth (Status and Outlook) 2024-2030

Publication ID:

LPI03245043

Publication Date:

March 21, 2024

Pages:

111

Publisher:

LPI

Countries:

Global [1]

USD 3,660.00

IT Services [2]

Software [3]

Computing & Electronics [4]

Description:

The global Financial Close Software market size was valued at US$ 680.9 million in 2023. With growing demand in downstream market, the Financial Close Software is forecast to a readjusted size of US$ 1370.3 million by 2030 with a CAGR of 10.5% during review period.
The research report highlights the growth potential of the global Financial Close Software market. Financial Close Software are expected to show stable growth in the future market. However, product differentiation, reducing costs, and supply chain optimization remain crucial for the widespread adoption of Financial Close Software. Market players need to invest in research and development, forge strategic partnerships, and align their offerings with evolving consumer preferences to capitalize on the immense opportunities presented by the Financial Close Software market.
Financial close software, also called accounting close software, provides tools to help businesses complete the financial close cycle. The financial close cycle is the process of verifying and adjusting account balances at the end of an accounting period (often the end of the month, quarter, or year) to produce financial reports that represent the company鈥檚 true financial position as of a certain date. These reports inform stakeholders such as management, investors, creditors, and regulatory agencies. Financial close software automates and streamlines some of the tasks involved in the financial close process, such as account reconciliations, journal entries, intercompany transactions, consolidation, reporting, and disclosure.
The industry trend of financial close software is driven by the increasing demand for automation, standardization, collaboration, transparency, and compliance in the financial close process. The global pandemic that emerged in 2020 and the remote work model that ensued also exposed the weaknesses of the financial close process for organizations that relied on spreadsheets or fragmented legacy solutions. As a result, many organizations have initiated or accelerated their digital transformation initiatives to adopt cloud-based financial close software solutions that can provide more efficiency, accuracy, agility, and security in the financial close process . Some of the key features and capabilities that are expected to shape the future of financial close software are:
Artificial intelligence (AI) and machine learning (ML): AI and ML can enhance the automation and intelligence of financial close software by providing data extraction, validation, reconciliation, classification, anomaly detection, risk assessment, recommendation engine, natural language processing (NLP), natural language generation (NLG), and predictive analytics .
Composable applications: Composable applications are modular applications that can be assembled or reassembled based on changing business needs. Composable applications can enable more flexibility and scalability for financial close software by allowing users to select and integrate the best-of-breed components or services that suit their specific requirements .
Extended planning and analysis (xP&A): xP&A is an approach that integrates financial planning and analysis (FP&A) with operational planning and analysis across various business functions and domains. xP&A can enable more alignment and collaboration between finance and other business units by providing a unified platform for data integration, planning, budgeting, forecasting, reporting, analysis, and decision making .
Key Features:
The report on Financial Close Software market reflects various aspects and provide valuable insights into the industry.
Market Size and Growth: The research report provide an overview of the current size and growth of the Financial Close Software market. It may include historical data, market segmentation by Type (e.g., Cloud Based, Web Based), and regional breakdowns.
Market Drivers and Challenges: The report can identify and analyse the factors driving the growth of the Financial Close Software market, such as government regulations, environmental concerns, technological advancements, and changing consumer preferences. It can also highlight the challenges faced by the industry, including infrastructure limitations, range anxiety, and high upfront costs.
Competitive Landscape: The research report provides analysis of the competitive landscape within the Financial Close Software market. It includes profiles of key players, their market share, strategies, and product offerings. The report can also highlight emerging players and their potential impact on the market.
Technological Developments: The research report can delve into the latest technological developments in the Financial Close Software industry. This include advancements in Financial Close Software technology, Financial Close Software new entrants, Financial Close Software new investment, and other innovations that are shaping the future of Financial Close Software.
Downstream Procumbent Preference: The report can shed light on customer procumbent behaviour and adoption trends in the Financial Close Software market. It includes factors influencing customer ' purchasing decisions, preferences for Financial Close Software product.
Government Policies and Incentives: The research report analyse the impact of government policies and incentives on the Financial Close Software market. This may include an assessment of regulatory frameworks, subsidies, tax incentives, and other measures aimed at promoting Financial Close Software market. The report also evaluates the effectiveness of these policies in driving market growth.
Environmental Impact and Sustainability: The research report assess the environmental impact and sustainability aspects of the Financial Close Software market.
Market Forecasts and Future Outlook: Based on the analysis conducted, the research report provide market forecasts and outlook for the Financial Close Software industry. This includes projections of market size, growth rates, regional trends, and predictions on technological advancements and policy developments.
Recommendations and Opportunities: The report conclude with recommendations for industry stakeholders, policymakers, and investors. It highlights potential opportunities for market players to capitalize on emerging trends, overcome challenges, and contribute to the growth and development of the Financial Close Software market.
Market Segmentation:
Financial Close Software market is split by Type and by Application. For the period 2019-2030, the growth among segments provides accurate calculations and forecasts for consumption value by Type, and by Application in terms of value.
Segmentation by type
Cloud Based
Web Based
Segmentation by application
Large Enterprises
SMEs
This report also splits the market by region:
Americas
United States
Canada
Mexico
Brazil
APAC
China
Japan
Korea
Southeast Asia
India
Australia
Europe
Germany
France
UK
Italy
Russia
Middle East & Africa
Egypt
South Africa
Israel
Turkey
GCC Countries
The below companies that are profiled have been selected based on inputs gathered from primary experts and analyzing the company's coverage, product portfolio, its market penetration.
BlackLine
IBM Cognos Controller
FloQast
Prophix
Tagetik
Vena
Oracle
Host Analytics
Kaufman
Equity Edge
Longview
Trintech
ReconArt
OneStream

Please Note - This is an on demand report and will be delivered in 2 business days (48 hours) post payment.

Table Of Contents:

1 Scope of the Report
1.1 Market Introduction
1.2 Years Considered
1.3 Research Objectives
1.4 Market Research Methodology
1.5 Research Process and Data Source
1.6 Economic Indicators
1.7 Currency Considered
1.8 Market Estimation Caveats
2 Executive Summary
2.1 World Market Overview
2.1.1 Global Financial Close Software Market Size 2019-2030
2.1.2 Financial Close Software Market Size CAGR by Region 2019 VS 2023 VS 2030
2.2 Financial Close Software Segment by Type
2.2.1 Cloud Based
2.2.2 Web Based
2.3 Financial Close Software Market Size by Type
2.3.1 Financial Close Software Market Size CAGR by Type (2019 VS 2023 VS 2030)
2.3.2 Global Financial Close Software Market Size Market Share by Type (2019-2024)
2.4 Financial Close Software Segment by Application
2.4.1 Large Enterprises
2.4.2 SMEs
2.5 Financial Close Software Market Size by Application
2.5.1 Financial Close Software Market Size CAGR by Application (2019 VS 2023 VS 2030)
2.5.2 Global Financial Close Software Market Size Market Share by Application (2019-2024)
3 Financial Close Software Market Size by Player
3.1 Financial Close Software Market Size Market Share by Players
3.1.1 Global Financial Close Software Revenue by Players (2019-2024)
3.1.2 Global Financial Close Software Revenue Market Share by Players (2019-2024)
3.2 Global Financial Close Software Key Players Head office and Products Offered
3.3 Market Concentration Rate Analysis
3.3.1 Competition Landscape Analysis
3.3.2 Concentration Ratio (CR3, CR5 and CR10) & (2022-2024)
3.4 New Products and Potential Entrants
3.5 Mergers & Acquisitions, Expansion
4 Financial Close Software by Regions
4.1 Financial Close Software Market Size by Regions (2019-2024)
4.2 Americas Financial Close Software Market Size Growth (2019-2024)
4.3 APAC Financial Close Software Market Size Growth (2019-2024)
4.4 Europe Financial Close Software Market Size Growth (2019-2024)
4.5 Middle East & Africa Financial Close Software Market Size Growth (2019-2024)
5 Americas
5.1 Americas Financial Close Software Market Size by Country (2019-2024)
5.2 Americas Financial Close Software Market Size by Type (2019-2024)
5.3 Americas Financial Close Software Market Size by Application (2019-2024)
5.4 United States
5.5 Canada
5.6 Mexico
5.7 Brazil
6 APAC
6.1 APAC Financial Close Software Market Size by Region (2019-2024)
6.2 APAC Financial Close Software Market Size by Type (2019-2024)
6.3 APAC Financial Close Software Market Size by Application (2019-2024)
6.4 China
6.5 Japan
6.6 Korea
6.7 Southeast Asia
6.8 India
6.9 Australia
7 Europe
7.1 Europe Financial Close Software by Country (2019-2024)
7.2 Europe Financial Close Software Market Size by Type (2019-2024)
7.3 Europe Financial Close Software Market Size by Application (2019-2024)
7.4 Germany
7.5 France
7.6 UK
7.7 Italy
7.8 Russia
8 Middle East & Africa
8.1 Middle East & Africa Financial Close Software by Region (2019-2024)
8.2 Middle East & Africa Financial Close Software Market Size by Type (2019-2024)
8.3 Middle East & Africa Financial Close Software Market Size by Application (2019-2024)
8.4 Egypt
8.5 South Africa
8.6 Israel
8.7 Turkey
8.8 GCC Countries
9 Market Drivers, Challenges and Trends
9.1 Market Drivers & Growth Opportunities
9.2 Market Challenges & Risks
9.3 Industry Trends
10 Global Financial Close Software Market Forecast
10.1 Global Financial Close Software Forecast by Regions (2025-2030)
10.1.1 Global Financial Close Software Forecast by Regions (2025-2030)
10.1.2 Americas Financial Close Software Forecast
10.1.3 APAC Financial Close Software Forecast
10.1.4 Europe Financial Close Software Forecast
10.1.5 Middle East & Africa Financial Close Software Forecast
10.2 Americas Financial Close Software Forecast by Country (2025-2030)
10.2.1 United States Financial Close Software Market Forecast
10.2.2 Canada Financial Close Software Market Forecast
10.2.3 Mexico Financial Close Software Market Forecast
10.2.4 Brazil Financial Close Software Market Forecast
10.3 APAC Financial Close Software Forecast by Region (2025-2030)
10.3.1 China Financial Close Software Market Forecast
10.3.2 Japan Financial Close Software Market Forecast
10.3.3 Korea Financial Close Software Market Forecast
10.3.4 Southeast Asia Financial Close Software Market Forecast
10.3.5 India Financial Close Software Market Forecast
10.3.6 Australia Financial Close Software Market Forecast
10.4 Europe Financial Close Software Forecast by Country (2025-2030)
10.4.1 Germany Financial Close Software Market Forecast
10.4.2 France Financial Close Software Market Forecast
10.4.3 UK Financial Close Software Market Forecast
10.4.4 Italy Financial Close Software Market Forecast
10.4.5 Russia Financial Close Software Market Forecast
10.5 Middle East & Africa Financial Close Software Forecast by Region (2025-2030)
10.5.1 Egypt Financial Close Software Market Forecast
10.5.2 South Africa Financial Close Software Market Forecast
10.5.3 Israel Financial Close Software Market Forecast
10.5.4 Turkey Financial Close Software Market Forecast
10.5.5 GCC Countries Financial Close Software Market Forecast
10.6 Global Financial Close Software Forecast by Type (2025-2030)
10.7 Global Financial Close Software Forecast by Application (2025-2030)

11 Key Players Analysis
11.1 BlackLine
11.1.1 BlackLine Company Information
11.1.2 BlackLine Financial Close Software Product Offered
11.1.3 BlackLine Financial Close Software Revenue, Gross Margin and Market Share (2019-2024)
11.1.4 BlackLine Main Business Overview
11.1.5 BlackLine Latest Developments
11.2 IBM Cognos Controller
11.2.1 IBM Cognos Controller Company Information
11.2.2 IBM Cognos Controller Financial Close Software Product Offered
11.2.3 IBM Cognos Controller Financial Close Software Revenue, Gross Margin and Market Share (2019-2024)
11.2.4 IBM Cognos Controller Main Business Overview
11.2.5 IBM Cognos Controller Latest Developments
11.3 FloQast
11.3.1 FloQast Company Information
11.3.2 FloQast Financial Close Software Product Offered
11.3.3 FloQast Financial Close Software Revenue, Gross Margin and Market Share (2019-2024)
11.3.4 FloQast Main Business Overview
11.3.5 FloQast Latest Developments
11.4 Prophix
11.4.1 Prophix Company Information
11.4.2 Prophix Financial Close Software Product Offered
11.4.3 Prophix Financial Close Software Revenue, Gross Margin and Market Share (2019-2024)
11.4.4 Prophix Main Business Overview
11.4.5 Prophix Latest Developments
11.5 Tagetik
11.5.1 Tagetik Company Information
11.5.2 Tagetik Financial Close Software Product Offered
11.5.3 Tagetik Financial Close Software Revenue, Gross Margin and Market Share (2019-2024)
11.5.4 Tagetik Main Business Overview
11.5.5 Tagetik Latest Developments
11.6 Vena
11.6.1 Vena Company Information
11.6.2 Vena Financial Close Software Product Offered
11.6.3 Vena Financial Close Software Revenue, Gross Margin and Market Share (2019-2024)
11.6.4 Vena Main Business Overview
11.6.5 Vena Latest Developments
11.7 Oracle
11.7.1 Oracle Company Information
11.7.2 Oracle Financial Close Software Product Offered
11.7.3 Oracle Financial Close Software Revenue, Gross Margin and Market Share (2019-2024)
11.7.4 Oracle Main Business Overview
11.7.5 Oracle Latest Developments
11.8 Host Analytics
11.8.1 Host Analytics Company Information
11.8.2 Host Analytics Financial Close Software Product Offered
11.8.3 Host Analytics Financial Close Software Revenue, Gross Margin and Market Share (2019-2024)
11.8.4 Host Analytics Main Business Overview
11.8.5 Host Analytics Latest Developments
11.9 Kaufman
11.9.1 Kaufman Company Information
11.9.2 Kaufman Financial Close Software Product Offered
11.9.3 Kaufman Financial Close Software Revenue, Gross Margin and Market Share (2019-2024)
11.9.4 Kaufman Main Business Overview
11.9.5 Kaufman Latest Developments
11.10 Equity Edge
11.10.1 Equity Edge Company Information
11.10.2 Equity Edge Financial Close Software Product Offered
11.10.3 Equity Edge Financial Close Software Revenue, Gross Margin and Market Share (2019-2024)
11.10.4 Equity Edge Main Business Overview
11.10.5 Equity Edge Latest Developments
11.11 Longview
11.11.1 Longview Company Information
11.11.2 Longview Financial Close Software Product Offered
11.11.3 Longview Financial Close Software Revenue, Gross Margin and Market Share (2019-2024)
11.11.4 Longview Main Business Overview
11.11.5 Longview Latest Developments
11.12 Trintech
11.12.1 Trintech Company Information
11.12.2 Trintech Financial Close Software Product Offered
11.12.3 Trintech Financial Close Software Revenue, Gross Margin and Market Share (2019-2024)
11.12.4 Trintech Main Business Overview
11.12.5 Trintech Latest Developments
11.13 ReconArt
11.13.1 ReconArt Company Information
11.13.2 ReconArt Financial Close Software Product Offered
11.13.3 ReconArt Financial Close Software Revenue, Gross Margin and Market Share (2019-2024)
11.13.4 ReconArt Main Business Overview
11.13.5 ReconArt Latest Developments
11.14 OneStream
11.14.1 OneStream Company Information
11.14.2 OneStream Financial Close Software Product Offered
11.14.3 OneStream Financial Close Software Revenue, Gross Margin and Market Share (2019-2024)
11.14.4 OneStream Main Business Overview
11.14.5 OneStream Latest Developments
12 Research Findings and Conclusion

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