TechNavio recognizes the following companies as the key players in the Global Financial Accounting Application Market: SAP AG, Oracle Corp., Microsoft Corp., and Intuit Inc.
Commenting on the report, an analyst from TechNavio’s team said: “Financial accounting solutions perform debits and credits, but beyond the general ledger, fixed assets, accounts payable and other transactional systems, there are some other important financial accounting solutions that assist in cash management, planning, and budgeting. Today, enterprises want all time access to cash management, financial planning, budgeting and other solutions. In addition, enterprises are increasingly relying on cloud solutions for planning, budgeting, banking, and treasury solutions in use at their firms. More large enterprises are adopting the use of cloud-based solutions because they have a greater need for consolidation budgeting, planning and reporting tools. In addition, large enterprises have growing needs for more modern and mobile applications.”
According to the report, one of the major drivers is the need to improve operational efficiency and productivity. Financial accounting application software helps organizations to deploy standard processes in order to achieve consistency, and it also ensures automation of processes in order to accelerate them.
Further, the report states that cross-functional integration across various departments is one of the major challenges confronting this market. Financial accounting applications have to integrate with various departments of an organization including procurement, supply chain, operations, human resources, and marketing, which could be a difficult process.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors. For further information on this report, please visit https://www.technavio.com/report/global-financial-accounting-application-…
TechNavio, the market research platform of Infiniti Research Ltd., publishes periodic market research reports on niche and emerging technologies. For more information on our market research, please visit https://www.technavio.com/it-hardware-software-services
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TechNavio Announces the Publication of its Research Report -Global Financial Accounting Application Market 2014-2018
