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Bookkeeper Software Market: Quantitative Market Analysis, Current and Future Trends

12-18-2017 11:12 AM CET | Advertising, Media Consulting, Marketing Research

Press release from: Transparency Market Research

/ PR Agency: Transparency Market Research
Bookkeeper Software Market: Quantitative Market Analysis,

Bookkeeper software is a computer program that aids bookkeepers in reporting and recording a firm’s financial transactions. The functionality of the book keeper software varies from product to product. Smaller firms often opt for off the shelf products whereas larger firms opt for customized solutions that integrate a huge amount of data from various departments. This software is an important resource for modern businesses. It enables almost instantaneous reporting, analysis, and detailed tracking of financial transactions.

The bookkeeper software market is primarily driven by the increasing demand to upgrade finance operations. Rising complexities in financial service firms and adoption of digital technologies are the reason forcing the upgrade of finance operations. Another important factor responsible for the growth of the bookkeeper market is the shift toward green IT. Green IT refers to the efficient usage of IT resources and computers with an environmental friendly approach. Implementation of cloud based technology helps in achieving sustainability and energy efficiency. Emergence of business accounting mobile applications is also an important factor that is likely to bolster the demand for book keeper software during the forecast period.

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These mobile applications assist customers to control daily accounting tasks anytime from anywhere. It also helps with accounting processes like sending invoices, accepting payments, tracking receipts, logging expenses, and planning budgets. Majority of mobile accounting applications have basic features which includes expense and invoicing tracking. Advanced features in applications comprise bill reminders, mobile wallets, and bank transfers.

Despite many positive indicators, there are some factors that are likely to restrain the market growth of bookkeeper software during the forecast period. Although cloud based software offers several advantages, there are few risks as well. Some of the important considerations include lack of physical control of the servers, potential of being affected by loopholes, and data transmission out of the office. There are chances of the software being exploited by malicious programs over the internet leading to data breach.

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On the basis of deployment type, the bookkeeper software market has been bifurcated into on-premises and cloud. Based on end users, the market is segregated into large enterprises; and small and medium size enterprises. The geographical segregation of the market comprises North America, Asia Pacific, Europe, Middle East & Africa, and Latin America. North America is expected to account for highest market revenue share throughout the forecast period. High demand for cloud based services and applications along with the increasing application and data users is fueling growth of Bookkeeper Software market in North America.

The global bookkeeper software market is fragmented with the presence of various niche players as well as multinational companies. Competition is likely to increase with the rise in demand for bookkeeper software across industries like retail, banking, construction, and manufacturing.

Some of the top players in the global bookkeeper software market encompass Intuit Inc. (U.S.), Pandle (U.K.), NCH Software (Australia), LessAccounting (U.S.), TaxSlayer LLC. (Georgia), FreshBooks (Canada), Zoho Corporation Pvt. Ltd. (U.S.), The Sage Group plc (U.K.), Acclivity Group LLC (U.S.), and Intacct Corporation (U.S.).

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Transparency Market Research (TMR) is a market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. We have an experienced team of Analysts, Researchers, and Consultants, who us e proprietary data sources and various tools and techniques to gather, and analyze information. Our business offerings represent the latest and the most reliable information indispensable for businesses to sustain a competitive edge.

Each TMR Syndicated Research report covers a different sector – such as pharmaceuticals, chemical, energy, food & beverages, semiconductors, med-devices, consumer goods and technology. These reports provide in-depth analysis and deep segmentation to possible micro levels. With wider scope and stratified research methodology, our syndicated reports thrive to provide clients to serve their overall research requirement.

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