Cloud Financial Planning and Analysis (FP&A) Solutions Market Incredible Possibilities, Growth, Trend, Opportunities Detailed Analysis and Forecast - 2030

Cloud financial planning and analysis (FP&A) is a type of fintech software that allows finance teams to compile analytical data of their organization for successful budgeting, forecasting and formulating business strategies. Most companies have adopted purpose-built cloud financial planning and analysis software such as enterprise performance management (EPM) solutions to automate and streamline planning processes. Moreover, FP&A software leverages data from the general ledger and other software systems to accelerate decision-making with advanced analytics. FP&A is a critical and primary function of finance departments to keep the firm focused and on track as the company grows. In addition, companies of all sizes need FP&A solutions to helps firms communicate clearly with staff and investors to build a transparent business institute. It also helps in cost reduction by accessing data on past and present spending to identify unnecessary or over-inflated costs and avoid them in future transactions.

Access Full Description of this report at:-

https://www.nextmsc.com/report/cloud-financial-planning-and-analysis-fpanda-solutions-market

Competitive Landscape :

The cloud financial planning and analysis solutions market is comprising of various market players such as Anaplan,Inc. Board International, IBM, Microsoft, OneStream Live Inc., Oracle, Planful, Inc., Prophix, Wolters Kluwer N.V., and Workday, INC. Other players operating in this market include Vena Solutions, SAP, SE and Syntellis Performance Solutions.

Market Dynamics and Trends:

Increasing trend to shift from on-premises offering to cloud-based financial solutions globally, boosts the growth of the cloud financial planning and analysis solutions. Also, financial application users prefer Software as a Service (SaaS) solutions in order to reduce their application support costs, increase application flexibility and shorten time to value. The demand for Cloud and SaaS is growing among the organizations for running their IT infrastructure on public, private, or hybrid cloud rather than on physical infrastructure. For instance, in July 2021, HCL Technologies partnered with Microsoft to leverage Microsoft cloud for financial services. This would bring together the capabilities of multi-layered security and comprehensive compliance coverage for delivering diverse customer experiences. In addition, it helps in improving employee collaboration, productivity, managing risk, and modernizing core systems. Such numerous advantages of cloud FP&A Solutions drive the growth of the market globally.

Moreover, factors such as technological advances including integration of edge computing, internet of things (IoT), and artificial intelligence act as major driving forces for the global FP&A Solutions market. Furthermore, increasing number of players across the globe and introduction of new cloud-based financial planning software by majority of players to improve financial productivity of small- & medium-sized enterprises propel the growth of the market.

However, rising security issues related to cloud-based solutions such as absence of data redundancy, risk management, security management, and others are hindering the growth of the market. For instance, hybrid cloud is a complex system and many organizations have limited experience in managing the cloud environment, which creates greater risk. Hybrid cloud architecture need redundancy across data centers to moderate the impact of an outage in the data center. Moreover, rise in monthly subscription fees by key vendors, high setup price of cloud-based financial planning software, and increase in support service charges incur additional cost, thereby hampering the growth of the market.

Request sample copy of this report at:-

https://www.nextmsc.com/cloud-financial-planning-and-analysis-fpanda-solutions-market/request-sample

Market Segmentations and Scope of the Study:

The cloud financial planning and analysis solutions market is segmented on the basis of product type, application, enterprise size, technology, cloud type, industry vertical, and region. By product type, the market is divided into software and services. On the basis of application, it is classified into management reporting, profitability, forecasting, and real estate management. In terms of enterprise size, the market is segmented into large enterprises and small & medium enterprises. By technology it is categorized into artificial intelligence (AI), robotic process automation (RPA), and blockchain. By cloud type, it is segregated into public cloud, and private cloud. By industry vertical, it is categorized into BFSI, education, IT & telecom, government & public, healthcare, manufacturing, media & entertainment, oil & gas, and others. Region wise, the market is analyzed across North America, Europe, Asia-Pacific, and RoW.

Geographical Analysis:

North America holds the lion's share of the cloud financial planning and analysis solutions market during the forecast period. This is often attributed to the surge in sizeable amount of market players included in various developments such as partnership, product launch, and collaboration. For instance, in May 2021, InvestCloud, the world leader in cloud-based financial digital solutions, has announced a strategic acquisition of Advicent, the premier income, trust, and tax financial planning provider. The acquisition aims to make the world's leading financial planning solution by combining Advicent's income, trust, and tax financial planning engines with InvestCloud's digital client, advisor platform and existing market-leading goal-based financial planning engines. The acquisition has accelerated a focus on financial planning market worth USD 52.9 billion within the U.S. alone.

However, Asia-Pacific is anticipated to show a steady rise in cloud financial planning and analysis solutions market owing to rise in number of startups using cloud financial planning and analysis solutions for creating scalable financial planning software through industry-leading APIs as well as cash flow and goal-based planning in various emerging countries of Asia-Pacific. Moreover, cloud financial planning and analysis solutions have gained high traction in China, Japan, and India during the pandemic, as the emergence of cloud-based financial planning and analysis solutions resulted in ease of usage and maintenance when compared with previous generation on-premise offerings.

Postal Address:
Phone Number: +1-217-650-7991
E-mail: info@nextmsc.com

About Next Move Strategy Consulting:

Next Move Strategy Consulting is an independent and trusted third-platform market intelligence provider, committed to deliver high quality, market research reports that help multinational companies to triumph over their competitions and increase industry footprint by capturing greater market share. Our research model is a unique collaboration of primary research, secondary research, data mining and data analytics.

We have been servicing over 1000 customers globally that includes 90% of the Fortune 500 companies over a decade. Our analysts are constantly tracking various high growth markets and identifying hidden opportunities in each sector or the industry. We provide one of the industry’s best quality syndicate as well as custom research reports across 10 different industry verticals. We are committed to deliver high quality research solutions in accordance to your business needs. Our industry standard delivery solution that ranges from the pre consultation to after-sales services, provide an excellent client experience and ensure right strategic decision making for businesses.

For more insights, please visit, https://www.nextmsc.com

This release was published on openPR.