U.S. Retail Recon Software Market Size Projected To Show Strong Growth | AutoRek, Baldwin Hackett & Meeks, Blackline, Broadridge Financial Solutions

Reconciliation(recon) is a process of comparing internal financial records against monthly statements from external sources such as financial institutions, banks, and credit card companies. Reconciliation software enables retail companies to reconcile bank account transactions from their general ledger control account with ERP data that has hit their bank account. Furthermore, it helps retail companies to detect financial companies and enhances the overall control and visibility of the company. The research also provides a market analysis using various analytical techniques, including Porter's Five Forces Analysis and PESTEL Analysis. These tools provide an in-depth analysis of the micro- and macro-environmental elements that influence the market's expansion during the forecast period.

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In addition, recon software also helps retail companies in reducing the human errors made in an accounting ledger and improves the stability in accounting process. Moreover, rise in adoption of cloud-based recon software in retail industry is expected to provide a lucrative opportunity for the market.
Increase in online transactions in the retail industry and rise in need for reconciliation management system drive the growth of the market. In addition, substantial saving for the U.S. retailers with high volume bank reconciliation needs fuels the growth of the market. However, various security issues in reconciliation software hampers the growth of the market. Furthermore, higher adoption of recon software among the SMRs and rise in usage of machine learning and artificial intelligence in recon software are the factors expected to provide lucrative opportunities for the growth of the market.

The U.S. retail recon software market is segmented into component, software type, deployment mode, retailer size, and reconciliation type. In terms of component, it is bifurcated into software and services. As per software type, it is divided into transaction matching, consolidation, reporting & analytics, variance analysis, task management and others. By deployment model, it is segmented into on-premise and cloud. In terms of retailer size, it is segmented into large retailers and small & medium retailers. As per reconciliation type, it is divided into account reconciliation, bank reconciliation, payment reconciliation, and others. By region, it is analyzed across the U.S.

Key Benefits for Stakeholders
- The study provides an in-depth analysis of the U.S. retail recon software market forecast along with the current & future trends to elucidate the imminent investment pockets.
- Information about key drivers, restraints, and opportunities and their impact analysis on the U.S. retail recon software market size is provided in the report.
- Porter's five forces analysis illustrates the potency of the buyers and suppliers operating in the industry.
- The quantitative analysis of the market for the period 2019-2027 is provided to determine the market potential.

KEY MARKET PLAYERS
- AutoRek
- Baldwin Hackett & Meeks, Inc.
- Blackline, Inc.
- Broadridge Financial Solutions, Inc.
- Cashbook
- Fiserv, Inc.
- Oracle Corporation
- ReconArt, Inc.
- SAP SE
- SigmaIQ.

Key Market Segments
By Component
- Software
- Service

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By Software Type
- Transaction Matching
- Consolidation
- Reporting & Analytics
- Variance Analysis
- Task Management
- Others

By Deployment Model
- On-Premise
- Cloud

By Retailer Size
- Large Retailers
- Small & Medium Retailer (SMRs)

By Reconciliation Type
- Account Reconciliation
- Bank Reconciliation
- Payment Reconciliation
- Others

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