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2022-2029 年全球会计核对软件市场

Global Account Reconciliation Software Market - 2022-2029

出版日期: 2023年01月05日 | 出版商:

DataM Intelligence | 英文 161 Pages | 商品交期: 约2个工作天内

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简介目录

市场概况

全球会计核对软件市场预计将出现显着增长，在预测期内（2022-2029 年）复合年增长率为 2.9%。

会计核对是将银行、金融机构和信用卡公司等外部来源的月度报表与内部财务数据进行比较的过程。推动全球会计核对软件市场的主要因素是标准化银行业务的扩展。这是由于软件有助于通过会计操作自动化降低风险、提高质量和节省时间等因素。

市场动态

由机器学习和人工智能驱动的会计软件的流行是全球会计核对软件市场的主要市场驱动力。然而，高昂的实施成本可能是一个主要的市场製约因素。

机器学习和人工智能在匹配软件中的应用增加

人工智能用于各种 Recon 软件和开发项目。Oracle Corporation、SAP SE 和 Fiserv 等各种 Recon 软件生产商正在将机器学习和人工智能融入匹配软件模型的开发中，从而创造市场增长潜力。此外，人工智能 (AI) 支持的侦察解决方案正在成为一种简化和解的智能方法。人工智能 (AI) 和机器学习正在改变公司管理端到端对账流程的方式。

客户可以通过最先进的技术解决方案实现 99% 的实时对账，例如 Ascent AutoRecon，这是业界第一个易于配置的支持 AI 的解决方案。对账流程有助于提高金融服务的效率和价值。例如， 2018 年 SAP SE 发布了 SAP 现金应用程序，该应用程序使用人工智能和机器学习来改进对账和现金流管理。此外，多家商家正在将人工智能嵌入到他们的匹配软件中，以减少结账过程中的人为错误并提高银行交易的安全性。

此外，人工智能使商家能够更好地了解客户交易，有助于提高交易可见性。因此，该市场被认为在预测期内有有利可图的机会。此外，使用人工智能改进日常财务程序，如数据输入、交易分类、对账和分析，从长远来看可以为企业节省大量成本。事实上，人工智能和机器人流程自动化 (RPA) 的部署有望将金融服务成本降低多达 80%。

引进成本高

该软件的高实施成本正在製约全球会计核对软件市场。一些会计软件功能较少但价格较高。一些会计软件复杂、难用，而且不能充分利用键盘。它们也可能缺乏功能、性能、消耗品或兼容性。客户应始终投资升级版本以获得他们想要的功能或切换到其他提供商。与云平台相比，本地 ERP 解决方案通常需要更大的前期投资和更长的投资回收期，然后组织才能从 ROI 中受益。

COVID-19 影响分析

会计对账软件市场在 2019 年之前一直在增长，但 COVID-19 大流行预计将在预测期内为该行业带来前所未有的前景。许多银行和金融科技公司使用对账软件来跟踪内部收银机的付款情况，并在疫情爆发前发现人为错误。在大流行之前推动该行业的另一个因素是世界各地的银行和其他金融机构对改进其错误检测软件的需求不断增长。

然而，由于冠状病毒的爆发而突然关闭为未来几年的会计核对软件市场提供了积极的市场机会。此外，由于 COVID-19 的爆发，各行各业都在转向在线平台以减少病毒的传播。此外，大流行将导致全球电子商务使用和在线交易激增，为市场开闢有利可图的前景。

在当前的 COVID-19 情况下，数字支付领域的交易价值下降了 30%。NPCI 最近的数据显示，实施封锁的月份急剧下降（主要是由于对旅游、医院和零售业的影响）。

然而，在这种情况下，印度政府和监管机构正在敦促国家电子资金转账 (NEFT)、即时支付服务 (IMPS) 和 UPI 等数字支付，以防止使用 COVID-19 风险较低的实物货币传输。推荐。这些努力与经济自由化相结合，反映在印度国家支付公司 (NPCI) 的各种数字支付系统的快速恢復中。因此，全球数字支付系统的发展为后 COVID-19 对账软件创造了巨大的机会。

Market Overview

The global Account Reconciliation Software market reached US$ XX million in 2021 and is expected to record significant growth by reaching up to US$ XX million by 2029, growing at a CAGR of 2.9% during the forecast period (2022-2029).

Reconciliation is a process that involves comparing monthly statements from external sources like banks, financial institutions and credit card providers with internal financial data. The primary factor driving the global account reconciliation software market is growing standardized bank activities. It is owing to factors such as this software that help reduce risk, improve quality and save time through automated operations in accounting.

Market Dynamics

The Increasing application of machine learning and artificial intelligence in reconciliation software is a major market driver for the global Account Reconciliation Software market. However, high implementation costs could be a major market restraint.

Increasing application of machine learning and artificial intelligence in reconciliation software

Artificial intelligence is used in a variety of recon software and development projects. Various recon software producers, including Oracle Corporation, SAP SE, Fiserv and others, are incorporating machine learning and artificial intelligence into developing their recon software models, creating a potential possibility for market growth. In addition, Reconciliation solutions powered by artificial intelligence (AI) have emerged as a smart approach to streamline reconciliations. Artificial intelligence (AI) and machine learning change how firms manage their end-to-end reconciliation processes.

Clients can get 99% real-time reconciliation with modern technological solutions like Ascent AutoRecon, a first-in-industry, easily configurable, AI-enabled solution. The reconciliation process aids financial services in increasing efficiency and value. For instance, In 2018, SAP SE released its SAP cash application, which improves reconciliation and cash flow management with artificial intelligence and machine learning. Furthermore, several merchants are incorporating artificial intelligence into reconciliation software to reduce human errors in the accounting process and increase the security of bank transactions.

Furthermore, AI enables merchants to have a deeper understanding of client transactions and aids in enhancing transaction visibility. As a result, the market has a lucrative opportunity in the forecast period. In addition, Using artificial intelligence to improve day-to-day financial procedures, including data entry, transaction categorization, reconciliation and analytics, can save companies a lot of money over time. Indeed, it is anticipated that implementing AI and robotic process automation (RPA) can save financial services costs by up to 80%.

High Implementation Cost

high implementation costs of this software are restraining the global account reconciliation software market. Some accounting software offers fewer features but at high prices. Some accounting software products are complicated and not user-friendly; thus, they do not fully enable users to use their keyboards. They can lack features, capabilities, expend abilities and compatibility. Customers will always have to invest in upgrading versions to get the features they want or switch to another provider. An On-premise ERP solution generally requires a larger up-front investment and a longer pay-back period before an organization would benefit from an ROI compared to the cloud platform.

COVID-19 Impact Analysis

The market for account reconciliation software had grown before 2019, but the COVID-19 pandemic outbreak is predicted to present the sector with hitherto unheard-of prospects during the projection period. Many banks and fintech companies used account reconciliation software before the epidemic to keep track of payments in their internal cash register and spot human errors. Another factor is driving the sector before the pandemic was the expanding need for banks and other financial institutions worldwide to improve their mistake-detection software.

However, the sudden lockdown due to the coronavirus outbreak has shown positive market opportunities for the account reconciliation software market in the coming years. Furthermore, because of the outbreak of COVID-19, various industries have shifted to online platforms to reduce the transmission of the virus. In addition, due to the pandemic, a surge in e-commerce usage and online transactions worldwide is likely to present profitable prospects for the market.

The digital payments sector has seen a 30% drop in transaction value in the current COVID-19 situation. Recent data from the NPCI attested to a sharp decline in the months when lockdowns were implemented (primarily due to the impact on the travel, hospitality and retail sectors).

However, in such instances, the Indian government and regulators have encouraged digital payments such as National electronic funds transfer (NEFT), Immediate payment service (IMPS), UPI and others to prevent the use of physical currency, which carries a lower risk of COVID-19 transmission. Such efforts, combined with the liberalization of the economy, are evident in the rapid recovery of various digital payment systems on the National Payments Corporation of India (NPCI). Thus growing digital payment system across the globe has created immense opportunities for account reconciliation software post-COVID-19.

Segment Analysis

The global Account Reconciliation Software market is classified based on type, application and region.

Increased volume of transactions and increased the need for automated financial reconciliation to avoid growing fraud

Over US$ 750 trillion in bank transactions is made via wire, ACH and checks yearly. Many of these payments take one to three days to clear and finance teams spend hours tracking them from initiation to approval to accounting and reporting. The essential activity in bank reconciliation is matching individual bank transactions (via statement or detailed activity report) against appropriate internal data (typically the GL) to assure that all data recorded by the bank is correct and accounted for in the business finance system. The procedure might be complex due to the number of bank accounts, diverse data sources (e.g., every bank statement format is slightly different), the volume of transactions and the inability to keep the reconciliation daily consistently. Other issues, such as using foreign currencies, check clearing, complex transaction linkages (one-to-one, one-to-many, many-to-many) and exception management requirements, may develop in some circumstances. All the issues are addressed by account reconciliation software, which fully automates bank reconciliation operations, including the import and data matching process for bank account activity.

The reconciliation software supports the automation of the financial closing process, which is replaced by a centralized online system. Preparers can access real-time balances from a general ledger, carry over information and open items from previous periods and compare data from bank statements and invoices using the software. Many account reconciliation software packages have standardized templates for highlighting reconciliation data and a layer of automation for grabbing financial data from banks, general ledgers and other accounts.

The increased volume of transactions has only increased the need for automated financial reconciliation. Traditional, manual transaction matching and account reconciliation processes only produce erroneous financial reporting, resulting in non-compliance and fraud. According to studies, 88% of spreadsheets have errors. The migration to financial automation gives a more significant potential for financial services in an era of digital technology. While using spreadsheets alone may have been acceptable and feasible, the demand for financial software is growing rapidly. Accounting and financial professionals can focus on long-term growth strategies by moving away from manual operations.

Various banks have recently shifted to account reconciliation software for optimizing their operations. For instance, in 2021, Deutsche Bank has chosen SmartStream Technologies' Centre of Excellence to provide an off-site operations platform, including three services that will help the bank simplify, consolidate and lower the costs of its reconciliations environment. SmartStream will supply Deutsche Bank with three unique managed services resulting from the CoE: Reconciliations Production Support, On-Boarding and Operational Reconciliation Services. The new services will improve reconciliation processing by making it faster and less expensive. The complete service will be integrated progressively, with Deutsche Bank increasing efficiency and lowering costs through mutualization. A credit card is a frequent payment mechanism for corporations to pay invoices from their suppliers. Credit card reconciliation includes various corporate procedures, including sales, vendor payments and employee costs. It usually necessitates regular matching transactions on a company's credit card statements to the corresponding items on its internal ledgers.

Geographical Analysis

High public awareness, intense competition and consistently increasing transaction volume

North America account reconciliation software market is expanding due to the region's high public awareness, intense competition and consistently increasing transaction volume. Account reconciliation software enhances the quality and accuracy of financial data while decreasing errors and inaccuracies. Account reconciliation software saves time and allows highly qualified accountants to concentrate on more challenging duties, including analysis, risk reduction and exception handling. The account reconciliation software industry is expanding in U.S. due to new technological breakthroughs for simplicity of use, less time consumption, increased internet and mobile banking and improvements in the country's banking and financial sectors.

Companies in the region are focused on automated account reconciliation since it saves time and eliminates errors. Sigma IQ Inc., based in Seattle, offers a software-as-a-service (SaaS) platform that allows businesses to automate their financial account reconciliations. The software uses machine learning. Digital banking is also widespread in the region. Mobile banking offers convenient features that are becoming increasingly sophisticated and can replace in-person services. The usage of apps and web tools for banking is growing as people become more comfortable and competent with mobile technologies. According to a survey done in 2019, approximately 58% of U.S. population uses mobile banking for money transfers. In 2016, about 62% of U.S. population chose digital banking as their primary banking method.

For enhanced customer service and increased protection against online frauds that may be traced by account reconciliation software, digital banking necessitates user-friendly financial software. Because of safer data handling and reduced demand on core employees, 67% of Canadians used cloud-based technology for account reconciliation operations in 2017. Therefore, there is a higher need for account reconciliation software.

The account reconciliation software market in Canada is expanding due to increased employee productivity, improved data accuracy, the creation of consolidated financial statements, the popularity of digital banking and technical improvements such as cloud computing. In Canada, digital banking is widely used, necessitating the usage of simple reconciliation software for consumer convenience. According to the Canadian Bankers Association (CBA), around 76 percent of the Canadian population conducts most online and mobile digital banking transactions. Banks in Canada adapt to their clients' changing demands by incorporating technology improvements into their operations.

New banking innovations such as account reconciliation are revolutionizing and empowering people's lives in Canada in a digital era. Broadridge Financial Solutions, ReckonArt Inc., Oracle Corporation, SS&C Technologies, Trintech, Blackline Inc., Treasury Software Corp. and Fiserv Inc. are the leading market participants in North America.

Global Account Reconciliation Software Market Competitive Landscape

The global account reconciliation software market is competitive due to the presence of major players such as Oracle Corporation, Fiserv, Inc., Broadridge Financial Solutions, Inc., SmartStream Technologies ltd., Trintech Inc., SS&C Technologies Holdings, Inc., ReconArt, Inc., AutoRek, Treasury Software Corp., Cashbook Limited, Xero Limited and BlackLine, Inc. The market is fragmented and market players employ market tactics such as mergers, acquisitions, product launches, contributions and collaborations to gain a competitive advantage and recognition.

For instance, on August 13, 2020, Trintech Inc. announced the release of Cadency 9.0, the latest version of its financial reconciliation software. The newest version of the respective software provides an artificial intelligence-based comprehensive accounting system with support for journal entries, systems integration and transaction reconciliation.

Trintech Inc

Overview: Performance management software (FCPM) can incorporate cloud and similar innovative solutions to offer top-notch financial operations and insights. The company's financial solution portfolio includes Cadency Platform, Adra Suit, ReconNet, T-Recs and UPCS, which are pieces of software that find applications in streamlining high-volume transactions, month-end closures, GL account reconciliation and journal entry. The company handles over 3,500 clients, including numerous Fortune 100 companies scattered across more than 100 countries in Nordics, Asia-Pacific, Latin America and South Africa.

Product Portfolio:

Recon - Investment Reconciliation Software: Recon is a highly scalable reconciliation management software that controls the accounting lifecycle, including position, account and cash reconciliations.

Key Development:

On July 20, 2021, Trintech Inc. announced a strategic partnership with Planful Inc., a financial planning & analysis (FP&A) and consolidations cloud software developer. As per the partnership, both companies would resell each other's products, promoting growth for one and the other.

Why Purchase the Report?

To visualize the global Account Reconciliation Software market segmentation based on type, application and region, as well as understand key commercial assets and players.
Identify commercial opportunities in the global Account Reconciliation Software market by analyzing trends and co-development.
Excel data sheet with numerous data points of Account Reconciliation Software market-level with four segments.
PDF report consisting of cogently put together market analysis after exhaustive qualitative interviews and in-depth market study.
Product mapping available as excel consisting of key products of all the major market players

The global Account Reconciliation Software market report would provide approximately 59 tables, 48 figures and almost 161 pages.

Product Audience 2023

Manufacturers/ Buyers
Industry Investors/Investment Bankers
Research Professionals
Emerging Companies

1. Global Account Reconciliation Software Market - Methodology and Scope

1.1. Research Methodology
1.2. Research Objective and Scope of the Report

2. Global Account Reconciliation Software Market - Market Definition and Overview

3. Global Account Reconciliation Software Market - Executive Summary

3.1. Market Snippet by Type
3.2. Market Snippet by Application
3.3. Market Snippet by Region

4. Global Account Reconciliation Software Market-Market Dynamics

4.1. Market Impacting Factors
- 4.1.1. Drivers
  - 4.1.1.1. Increasing application of machine learning and artificial intelligence in reconciliation software
  - 4.1.1.2. XX
- 4.1.2. Restraints
  - 4.1.2.1. High Implementation Cost
  - 4.1.2.2. XX
- 4.1.3. Opportunity
  - 4.1.3.1. XX
- 4.1.4. Impact Analysis

5. Global Account Reconciliation Software Market - Industry Analysis

5.1. Porter's Five Forces Analysis
5.2. Supply Chain Analysis
5.3. Pricing Analysis
5.4. Regulatory Analysis

6. Global Account Reconciliation Software Market - COVID-19 Analysis

6.1. Analysis of COVID-19 on the Market
- 6.1.1. Before COVID-19 Market Scenario
- 6.1.2. Present COVID-19 Market Scenario
- 6.1.3. After COVID-19 or Future Scenario
6.2. Pricing Dynamics Amid COVID-19
6.3. Demand-Supply Spectrum
6.4. Government Initiatives Related to the Market During Pandemic
6.5. Manufacturers Strategic Initiatives
6.6. Conclusion

7. Global Account Reconciliation Software Market - By Type

7.1. Introduction
- 7.1.1. Market Size Analysis and Y-o-Y Growth Analysis (%), By Type
- 7.1.2. Market Attractiveness Index, By Type
7.2. Cloud-based*
- 7.2.1. Introduction
- 7.2.2. Market Size Analysis and Y-o-Y Growth Analysis (%)
7.3. On-Premise

8. Global Account Reconciliation Software Market - By Application

8.1. Introduction
- 8.1.1. Market Size Analysis and Y-o-Y Growth Analysis (%), By Application
- 8.1.2. Market Attractiveness Index, By Application
8.2. Banks*
- 8.2.1. Introduction
- 8.2.2. Market Size Analysis and Y-o-Y Growth Analysis (%)
8.3. Enterprise

9. Global Account Reconciliation Software Market - By Region

9.1. Introduction
- 9.1.1. Market Size Analysis and Y-o-Y Growth Analysis (%), By Region
- 9.1.2. Market Attractiveness Index, By Region
9.2. North America
- 9.2.1. Introduction
- 9.2.2. Key Region-Specific Dynamics
- 9.2.3. Market Size Analysis and Y-o-Y Growth Analysis (%), By Type
- 9.2.4. Market Size Analysis and Y-o-Y Growth Analysis (%), By Application
- 9.2.5. Market Size Analysis and Y-o-Y Growth Analysis (%), By Country
  - 9.2.5.1. U.S.
  - 9.2.5.2. Canada
  - 9.2.5.3. Mexico
9.3. Europe
- 9.3.1. Introduction
- 9.3.2. Key Region-Specific Dynamics
- 9.3.3. Market Size Analysis and Y-o-Y Growth Analysis (%), By Type
- 9.3.4. Market Size Analysis and Y-o-Y Growth Analysis (%), By Application
- 9.3.5. Market Size Analysis and Y-o-Y Growth Analysis (%), By Country
  - 9.3.5.1. Germany
  - 9.3.5.2. UK
  - 9.3.5.3. France
  - 9.3.5.4. Italy
  - 9.3.5.5. Russia
  - 9.3.5.6. Rest of Europe
9.4. South America
- 9.4.1. Introduction
- 9.4.2. Key Region-Specific Dynamics
- 9.4.3. Market Size Analysis and Y-o-Y Growth Analysis (%), By Type
- 9.4.4. Market Size Analysis and Y-o-Y Growth Analysis (%), By Application
- 9.4.5. Market Size Analysis and Y-o-Y Growth Analysis (%), By Country
  - 9.4.5.1. Brazil
  - 9.4.5.2. Argentina
  - 9.4.5.3. Rest of South America
9.5. Asia-Pacific
- 9.5.1. Introduction
- 9.5.2. Key Region-Specific Dynamics
- 9.5.3. Market Size Analysis and Y-o-Y Growth Analysis (%), By Type
- 9.5.4. Market Size Analysis and Y-o-Y Growth Analysis (%), By Application
- 9.5.5. Market Size Analysis and Y-o-Y Growth Analysis (%), By Country
  - 9.5.5.1. China
  - 9.5.5.2. India
  - 9.5.5.3. Japan
  - 9.5.5.4. Australia
  - 9.5.5.5. Rest of Asia-Pacific
9.6. Middle East and Africa
- 9.6.1. Introduction
- 9.6.2. Key Region-Specific Dynamics
- 9.6.3. Market Size Analysis and Y-o-Y Growth Analysis (%), By Type
- 9.6.4. Market Size Analysis and Y-o-Y Growth Analysis (%), By Application

10. Global Account Reconciliation Software Market - Competitive Landscape

10.1. Competitive Scenario
10.2. Market Positioning/Share Analysis
10.3. Mergers and Acquisitions Analysis

11. Global Account Reconciliation Software Market- Company Profiles

11.1. Oracle Corporation*
- 11.1.1. Company Overview
- 11.1.2. Product Portfolio and Description
- 11.1.3. Key Highlights
- 11.1.4. Financial Overview
11.2. Fiserv, Inc.
11.3. Broadridge Financial Solutions, Inc.
11.4. SmartStream Technologies ltd.
11.5. Trintech Inc.
11.6. SS&C Technologies Holdings, Inc.
11.7. ReconArt, Inc.
11.8. AutoRek
11.9. Treasury Software Corp.
11.10. Cashbook Limited
11.11. Xero Limited
11.12. BlackLine, Inc.

LIST NOT EXHAUSTIVE

12. Global Account Reconciliation Software Market - Premium Insights

13. Global Account Reconciliation Software Market - DataM

13.1. Appendix
13.2. About Us and Services
13.3. Contact Us

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License/价格

2022-2029 年全球会计核对软件市场

Global Account Reconciliation Software Market - 2022-2029

市场概况

市场动态

目录

第一章会计核对软件的全球市场——研究方法和范围

第二章全球会计核对软件市场-市场定义和概述

3. 全球会计核对软件市场-执行摘要

第四章全球会计核对软件市场——市场动态

第五章会计核对软件的全球市场——行业分析

第 6 章会计核对软件的全球市场——COVID-19 分析

7. 全球会计核对软件市场——按类型

8 全球会计核对软件市场，按应用

9. 全球会计核对软件市场，按地区

10 全球会计核对软件市场-竞争格局

第 11 章会计核对软件的全球市场-公司简介

12. 会计核对软件的全球市场——关键考虑因素

第 13 章会计核对软件的全球市场-DataM