Press release
Accounting Software Market is expected to register high CAGR during the forecast period (2018-2023)| Key Players - INTUIT INC., SAGE SOFTWARE INC., SAP SE, ORACLE CORPORATION (NETSUITE), MICROSOFT CORPORATION, INFOR INC., XERO LTD., RED WING SOFTWARE, ACU
Market Analysis:Asia-Pacific to Witness the Highest Growth
The growth of the Asia-Pacific business accounting software market can be attributed to factors, such as emergence of small businesses, growing investment in the business sector, rising penetration of business accounting mobile applications and higher adoption of modern technologies in the region.
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Accounting software increases efficiency, as it is used to keep track of accounting transactions, or to manage the money flowing in and out of business. Over the past two decades, the financial and accounting software solution market has witnessed numerous changes. One of the biggest changes is the cloud-based offering of accounting software solutions. Agility, lower startup cost, and faster deployment are the major benefits of cloud-based solutions. Additionally, the advent of digital commerce and technological advancements, like integration with other online applications, such as automated bank feeds, automated billing features, etc., are expected drive the accounting software market over the forecast period.
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Market Segments:
Accounting Software Market is segmented by:
1. Installation Type: On-premise (Database Accounting, Installed Accounting), Cloud-based
2. End-user Scale: Entry & Microbusinesses, Small & Medium Businesses, Enterprisess
3. Geography: North America, South America, Europe, Asia Pacific, Middle East & Africa
Key Developments in the Market
• June 2017 - Oracle announced the launch of Oracle Monetization Cloud. The new cloud service stimulates the time to market digital and subscription-based products and services, by enabling the full life cycle of the customer onboarding, creating offer, robust rating and discounting, billing, customized invoicing, and reporting.
• May 2017 - EasemyGST and Microsoft India announced a strategic alliance to enable customers to comply with GST.
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