DUBLIN--(BUSINESS WIRE)--The "Global Account Reconciliation Software Market by Component, by Deployment Type, by Organization Size, by Application, by End User, by Region, Industry Analysis and Forecast, 2020 - 2026" report has been added to ResearchAndMarkets.com's offering.
The Global Account Reconciliation Software Market size is expected to reach $4.5 billion by 2026, rising at a market growth of 17.6% CAGR during the forecast period.
Reconciliation is a procedure of comparing interior financial related accounts against monthly accounts from outside sources, for example, banks, financial institutions, and credit card organizations. Numerous banks and fintech organizations are utilizing account reconciliation software to deal with their account in their interior sales register and to recognize human mistakes. Furthermore, rising need to improve error detection software in banks and in different other financial organizations across the globe drive the development of the market.
Additionally, increment in online transactions among different industries and growth in need for reconciliation management systems drive the development of the market. Also, developing acceptance of automated banking solutions across the globe to diminish reconciliation time fuels the development of the market. However, different security issues in account reconciliation software impede the account reconciliation software market development. Besides, higher adoption of account reconciliation software among the SMEs and an increase in the utilization of AI and machine learning in account reconciliation software are the components expected to give worthwhile chances to the development of the market.
The major strategies followed by the market participants are Partnerships and Product Launches. Based on the Analysis presented in the Cardinal matrix; Oracle Corporation, and SAP SE are the forerunners in the Account Reconciliation Software Market.
Companies such as BlackLine, Inc., Broadridge Financial Solutions, Inc., The Sage Group PLC, Intuit, Inc., Rimilia Holdings Ltd., Fiserv, Inc., and AutoRek are some of the key innovators in the market.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Oracle Corporation, SAP SE, Fiserv, Inc., Broadridge Financial Solutions, Inc., BlackLine, Inc., Intuit, Inc. (Quickbooks), The Sage Group PLC, Rimilia Holdings Ltd., AutoRek, and ReconArt, Inc.
Scope of the Study
Market Segmentation:
By Component
- Software (Without Services)
- Services
By Deployment Type
- On-premise
- Cloud
By Organization Size
- Large Enterprises
- Small & Medium Enterprises
By Application
- Bank Reconciliation
- Customer Reconciliation
- Inter-company Reconciliation
- Others
By End User
- BFSI
- IT & Telecom
- Healthcare & Social Assistance
- Retail
- Government & Public Sector
- Others
By Geography
- North America
- US
- Canada
- Mexico
- Rest of North America
- Europe
- Germany
- UK
- France
- Russia
- Spain
- Italy
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Singapore
- Malaysia
- Rest of Asia Pacific
- LAMEA
- Brazil
- Argentina
- UAE
- Saudi Arabia
- South Africa
- Nigeria
- Rest of LAMEA
Companies Profiled
- Oracle Corporation
- SAP SE
- Fiserv, Inc.
- Broadridge Financial Solutions, Inc.
- BlackLine, Inc.
- Intuit, Inc. (Quickbooks)
- The Sage Group PLC
- Rimilia Holdings Ltd.
- AutoRek
- ReconArt, Inc.
For more information about this report visit https://www.researchandmarkets.com/r/92wyc9
