NJ New Jersey, USA -- (SBWire) -- 11/24/2023 --The Latest research coverage on Financial Close Management Software Market provides a detailed overview and accurate market size. The study is designed considering current and historical trends, market development and business strategies taken up by leaders and new industry players entering the market. Furthermore, study includes an in-depth analysis of global and regional markets along with country level market size breakdown to identify potential gaps and opportunities to better investigate market status, development activity, value and growth patterns.
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Major & Emerging Players in Financial Close Management Software Market:-
FloQast (United States), E*TRADE Financial Holdings, LLC (United States), Longview Solutions (Canada), Oracle Corporation (United States), Prophix Software (Canada), DataRails (United States), IBM (United States), CCH Tagetik (Italy), SAP (Germany), BlackLine, Inc. (United States), Trintech (United States), insightsoftware (United States)
The Financial Close Management Software Market Study by AMA Research gives an essential tool and source to Industry stakeholders to figure out the market and other fundamental technicalities, covering growth, opportunities, competitive scenarios, and key trends in the Financial Close Management Software market.
Financial close management software, also known as accounting close software, provides tools that companies can use to complete the financial close cycle. Many organizations do a financial close at the end of each month. During this time, accountants within an organization use this software to ensure that the books are correct and that all transactions have been completed successfully. Tasks such as invoice payment and delivery cost approval, and lead import is listed in checklists and ticked off after completion. Financial Close products often include features such as task assignment, reconciliation management, reporting, and databases of previous accounting closing data organized by month and transaction type. Individual progress, as well as deadlines for each period, can also hereby be tracked by the accounting team throughout the complete cycle. These tools typically integrate with spreadsheets and various accounting tools so that users can fully document relevant data and identify notable results or inconsistencies. They can also be integrated with or delivered with other corporate performance management (CPM) functions, e.g. financial consolidation or budgeting and forecasting.
On 10th November 2020, insightsoftware, a global provider of enterprise software solutions for the Office of the CFO, announced it has entered into an agreement to acquire IDL Group, a leading provider of financial performance management software. IDL specializes in consolidating multi-source, financial data consequently eliminating manual closing errors and reducing closing cycle times.
On 2nd October 2020, BlackLine, Inc., a leader in accounting automation software, announced that it has completed the acquisition of Rimilia, an AI-powered cloud-based platform that enables accounts receivable (AR) automation and digital transformation. With Rimilia, BlackLine strengthens its position with the Office of the Controller by driving end-to-end automation of the cash lifecycle and ensuring greater data integrity. The acquisition expands BlackLine's capabilities into an adjacent area, adding AR automation to financial close automation and accelerating BlackLine's larger, long-term plan for transforming and modernizing Finance & Accounting.
The titled segments and sub-section of the market are illuminated below:
by Type (Cloud-Based, On-Premise), Application (Small and Medium-sized Companies, Large Companies), Industry Vertical (Banking, Financial Services, and Insurance, Telecom and Information & Technology(IT), Manufacturing, Construction, Non-Profit Organizations, Others), Subscription Type (Annual Subscription, Monthly Subscription, One Time License), Features (Payroll Management, Billing & Invoice, Enterprise Resource Planning, Time & Expense Management, Others)
Market Trends:
The Rising Adoption of AI and Block-chain Technology in the Market
Features of Financial Close Software is Fueling the Market Growth
Opportunities:
Growth in the Use of Cloud-Based Platforms
Rising Innovations in the Fin-tech Industry
Market Drivers:
Increasing Complexities across Business Processes
Enhanced Cost Control/Efficiencies
Greater Application Flexibility and Shorter Time to Value
Challenges:
Demand for High-End Processors
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Some Point of Table of Content:
Chapter One: Report Overview
Chapter Two: Global Market Growth Trends
Chapter Three: Value Chain of Financial Close Management Software Market
Chapter Four: Players Profiles
Chapter Five: Global Financial Close Management Software Market Analysis by Regions
Chapter Six: North America Financial Close Management Software Market Analysis by Countries
Chapter Seven: Europe Financial Close Management Software Market Analysis by Countries
Chapter Eight: Asia-Pacific Financial Close Management Software Market Analysis by Countries
Chapter Nine: Middle East and Africa Financial Close Management Software Market Analysis by Countries
Chapter Ten: South America Financial Close Management Software Market Analysis by Countries
Chapter Eleven: Global Financial Close Management Software Market Segment by Types
Chapter Twelve: Global Financial Close Management Software Market Segment by Applications
What are the market factors that are explained in the Financial Close Management Software Market report?
– Key Strategic Developments: Strategic developments of the market, comprising R&D, new product launch, M&A, agreements, collaborations, partnerships, joint ventures, and regional growth of the leading competitors.
– Key Market Features: Including revenue, price, capacity, capacity utilization rate, gross, production, production rate, consumption, import/export, supply/demand, cost, market share, CAGR, and gross margin.
– Analytical Tools: The analytical tools such as Porter's five forces analysis, SWOT analysis, feasibility study, and investment return analysis have been used to analyze the growth of the key players operating in the market.
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