Disclosure Management Market Business overview, Upcoming Trends, Growth, Analysis and Forecast - 2028

The global disclosure management market is anticipated to grow at a significant CAGR of 16.1% during the forecast period (2022-2028). By automating the process of creating financial statements and providing the flexibility of various output formats, such as a hard copy, a PDF document, or an XBRL file, disclosure management solutions enabled multiple organizations to take an efficient approach of producing their financial statements. The primary goal of disclosure management is to consolidate and manage the relevant papers for the closing cycle in order to considerably reduce the risk of an incorrect disclosure. Rather than manually tagging reports each time, disclosure management applications allow the mapping of reported disclosures to multiple relevant XBRL taxonomies to be reused, allowing for the automatic creation of XBRL reports.

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According to a Wall Street Journal investigation, restatement errors can range from a misapplication of accounting principles to a mistake in accounting software inputs to a mistake in Microsoft Excel schedules. Various instances of data inaccuracies in SEC filings, even among high-profile corporations, such as Netflix, have sparked a desire for effective disclosure management systems to enable businesses to avoid costly penalties.

The market players are also contributing significantly to the growth of the market by the adoption of various strategies including mergers and acquisitions, geographical expansion, partnerships, collaborations, and new product launches, in order to stay competitive in the market. For instance-

• In March 2022, the Reynolds and Reynolds Co. has agreed to sell International Document Services, Inc. to Wolters Kluwer Governance, Risk & Compliance (GRC) (IDS). GRC's existing leadership in digital loan compliance is bolstered by this acquisition, which includes end-to-end capabilities ranging from document production to eClosing, loan analytics, and lien solutions.

• In December 2021, Verisma, an industry leader in healthcare disclosure management technology and services, was acquired by NewSpring Healthcare. Verisma will be able to move more quickly as a result of this large investment. They will be able to minimize the obstacles to efficient disclosure and keep ahead of market demands, such as rising volume and regulation.

• In December 2021, RealPage Inc., one of the global providers of real estate software and data analytics announced the acquisition of HomeWiseDocs, a data and document delivery services provider (disclosure management) to community organizations. RealPage wants to increase its product portfolio and market reach with HomeWiseDocs' industry solutions, significantly strengthening RealPage's position in the community association sector and positioning the merged company as its leading service provider.

• In May 2021, by deploying its cutting-edge DataTracks Rainbow Disclosure Management System, DataTracks, a provider of cloud-based compliance reporting software, successfully supported top-listed firms in complying with filings under the European Single Electronic Format (ESEF).

Market Coverage
• The market number available for - 2021-2028
• Base year- 2021
• Forecast period- 2022-2028
• Segment Covered-
o By Component
o By Deployment Type
o By End-User

• Regions Covered-
o North America
o Europe
o Asia-Pacific
o Rest of the World

• Competitive Landscape- SAP SE, Oracle Corp., Workiva, Inc., LucaNet AG, and Insightsoftware, among others.

Key questions addressed by the report

• What is the market growth rate?
• Which segment and region dominate the market in the base year?
• Which segment and region will project the fastest growth in the market?
• How has COVID-19 impacted the market?
o Deviation from the pre-COVID-19 forecast
o Most affected region and segment
• Who is the leader in the market?
• How players are addressing challenges to sustain growth?
• Where is the investment opportunity?

Global Disclosure Management Market Report by Segment

By Component
• Software
• Services

By Deployment Type
• On-Premises
• Cloud

By End-User
• BFSI
• IT and Telecom
• Healthcare
• Retail
• Manufacturing

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Orion Market Reports (OMR) endeavors to provide an exclusive blend of qualitative and quantitative market research reports to clients across the globe. Our organization helps both multinational and domestic enterprises to bolster their business by providing in-depth market insights and the most reliable future market trends. Our reports address all the major aspects of the markets providing insights and market outlook to global clients.

This release was published on openPR.