TechNavio recognizes the following companies as the key players in Global Enterprise Fraud Management Market: Fidelity National Information Services, Fair Isaac Corp., NICE Actimize, and SAS Institute Inc.
Commenting on the report, an analyst from TechNavio’s team said: “An enterprise fraud management system supports the growth of a company and helps it gain competitive advantage by streamlining business processes and improving operational efficiency. An enterprise fraud management system is one of the most valuable aspects for SMEs as it identifies potential risk areas and detects fraud. Earlier, SMEs had limited options when adopting a system that would ensure optimal business performance. This was because they did not require, or could not afford, all the features of enterprise-class software systems. In the last few years, many SMEs have become increasingly aware of the significance of complete visibility of their operational performance and its impact on their business. Hence, the increased adoption of enterprise fraud management systems by SMEs is driving the growth of this market.”
According to the report, one of the major drivers in the market is the increasing demand for fraud detection systems in organizations. Since the financial meltdown in 2009, the importance of risk and fraud management across different organizations has increased. Therefore, organizations are increasingly adopting enterprise fraud management systems in order to minimize risk and survive in the changing market environment and to make on-the-spot decisions about business operations.
Further, the report states that one of the major challenges is the high cost of implementation. The deployment of enterprise fraud management system is an expensive process. It entails a very conservative and costly process of defining requirements. After purchasing the software license, organizations also need to hire resources for proper implementation of the software. In addition, post implementation the enterprise fraud management system needs to be upgraded according to current market trends, which is one of the major challenges in terms of cost for SMEs.
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-enterprise-fraud-management-marke…
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 Enterprise Fraud Management Market 2014-2018
