Reports

As the novel coronavirus (COVID-19) continues to spread across the world, our analysts are constantly tracking the impact of this rapidly evolving situation on the markets and the consumer purchase behaviours. Thus, our latest estimates and analysis about the current market trends and forecast will exhaustively reflect the effects of this emerging pandemic.

Global Account Reconciliation Software Market: By Component: Software, Service; By Deployment Mode: On-Premise, Cloud; By Enterprise Size; By Operating System; By Industry Vertical; Regional Analysis; Historical Market and Forecast (2016-2026); Market Dynamics; Competitive Landscape; Industry Events and Developments

Global Account Reconciliation Software Market Outlook

The global account reconciliation software market attained a value of nearly USD 2.1 billion in 2020. The market is further expected to grow in the forecast period of 2021-2026 at a CAGR of 14.6% to reach about USD 4.70 billion by 2026.

 

Increasing Deployment of Bank Reconciliation Software Fuelling the Growth of the Market

Bank reconciliation is a critical but time-consuming and difficult operation for both large and small and medium-sized enterprises. As a result, enterprises are increasingly adopting bank reconciliation software aids to complete bank reconciliations with greater accuracy and efficiency, which is propelling the market growth. In addition, the use of bank reconciliation software provides companies with a more accurate picture of their cash condition by utilising fewer resources time-effectively, which is augmenting the industry growth.

 

Global Account Reconciliation Software Market

Read more about this report - REQUEST FREE SAMPLE COPY IN PDF

 

Furthermore, the surge in credit card payments and the increasing requirement to generate electronic and online invoices are driving the adoption of bank reconciliation software among end users. As bank reconciliation software provides an unrivalled level of flexibility, intelligence, and automation for reconciling bank activity and daily payments, its demand is escalating and fuelling the market growth.

 

North America to Significantly Contribute to the Global Account Reconciliation Software Industry

North America accounted for a significant share of the account reconciliation software industry. The introduction of various favourable government initiatives to strengthen and accelerate the reconciliation process while minimising accounting errors are some of the major factors invigorating the market growth in the region. Meanwhile, the Asia Pacific region is expected to witness rapid growth owing to the surge in account reconciliation software suppliers and increasing government spending in the developing countries such as India, China, and Indonesia, among others. Such factors are projected to propel the industry growth in the forecast period.

 

Account Reconciliation Software: Industry Definition and Segmentation

Reconciliation is the process of comparing monthly accounts from outside sources, such as banks, financial institutions, and credit card companies, with internal financial related accounts. Account reconciliation software is used by a number of banks and fintech companies to manage their accounts in their internal sales registers and detect human errors.

On the basis of its component, the market can be divided into:

  • Software
  • service

The major deployment modes of account reconciliation software are:

  • On-Premise
  • Cloud

Based on enterprise size, the market is bifurcated into:

  • Large Enterprises
  • Small and Medium Enterprises (SMEs)

On the basis of operating system, the market can be classified as:

  • Bank Reconciliation
  • Customer Reconciliation  
  • Inter-Company Reconciliation 
  • Others

The market can be broadly categorised on the basis of its industry verticals into:

  • BFSI
  • Manufacturing 
  • Retail and E-Commerce 
  • Healthcare 
  • IT and Telecom 
  • Energy and Utilities 
  • Government and Public Sector 
  • Others

The EMR report looks into the regional markets of account reconciliation software like North America, Europe, Latin America, the Middle East and Africa, and the Asia Pacific.

 

Integration of Machine Learning and Artificial Intelligence to Catalyse the Industry Growth

The market is being propelled by the integration of artificial intelligence in various reconciliation software and development projects to automate complex reconciliations while boosting time-efficiency and cost-effectivity. Moreover, leading reconciliation software producers such as Oracle Corporation and SAP SE, among others, are increasingly incorporating machine learning and artificial intelligence for the development of advanced and innovative reconciliation software models, thus catalysing the market growth. For example, SAP SE developed its SAP cash application in 2018, which utilises artificial intelligence and machine learning to improve the reconciliation process and cash flow management.

Furthermore, numerous merchants are deploying artificial intelligence into reconciliation software in order to eliminate human errors in the accounting process and improve the security of bank transactions, which is providing impetus to the market growth. It also enables merchants to elucidate their understanding of client transactions and aids in enhancing transaction visibility, which is expected to bolster the market growth in upcoming years.

 

Key Industry Players in the Global Account Reconciliation Software Market

The report presents a detailed analysis of the following key players in the global account reconciliation software market, looking into their capacity, market shares, and latest developments like capacity expansions, plant turnarounds, and mergers and acquisitions:

  • Broadridge Financial Solutions, Inc. 
  • BlackLine Inc.
  • Oracle Corporation
  • ReconArt, Inc. 
  • Fiserv, Inc. 
  • Others

The comprehensive report looks into the macro and micro aspects of the industry. The EMR report gives an in-depth insight into the market by providing a SWOT analysis as well as an analysis of Porter’s Five Forces model.

 

REPORT FEATURES DETAILS
Base Year 2020
Historical Period 2016-2020
Forecast Period 2021-2026
Scope of the Report Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment- Component, Deployment Mode, Enterprise Size, Operating System, Industry Vertical, Region
Breakup by Component Software, Service
Breakup by Deployment Mode On-Premise, Cloud
Breakup by Enterprise Size Large Enterprises, Small and Medium Enterprises (SMEs)
Breakup by Operating System Bank Reconciliation, Customer Reconciliation, Inter-Company Reconciliation, Others
Breakup by Industry Vertical BFSI, Manufacturing, Retail and E-Commerce, Healthcare, IT and Telecom, Energy and Utilities, Government and Public Sector, Others
Breakup by Region North America, Europe, Asia Pacific, Latin America, Middle East and Africa
Market Dynamics SWOT, Porter's Five Forces, EMR’s Key Indicators for Price and Demand
Competitive Landscape Market Structure, Company Profiles- Company Overview, Product Portfolio, Demographic Reach and Achievements, Certifications
Companies Covered Broadridge Financial Solutions, Inc., BlackLine Inc., Oracle Corporation, ReconArt, Inc., Fiserv, Inc., Others
Report Price and Purchase Option Explore our purchase options that are best suited to your resources and industry needs.
Delivery Format Delivered as an attached PDF and Excel through email, with an option of receiving an editable PPT, according to the purchase option.

 

*We at Expert Market Research always thrive to give you the latest information. The numbers in the article are only indicative and may be different from the actual report.

1    Preface
2    Report Coverage – Key Segmentation and Scope
3    Report Description

    3.1    Market Definition and Outlook
    3.2    Properties and Applications
    3.3    Market Analysis
    3.4    Key Players
4    Key Assumptions
5    Executive Summary

    5.1    Overview
    5.2    Key Drivers
    5.3    Key Developments
    5.4    Competitive Structure
    5.5    Key Industrial Trends
6    Snapshot
    6.1    Global
    6.2    Regional
7    Industry Opportunities and Challenges
8    Global Account Reconciliation Software Market Analysis

    8.1    Key Industry Highlights
    8.2    Global Account Reconciliation Software Historical Market (2016-2020) 
    8.3    Global Account Reconciliation Software Market Forecast (2021-2026)
    8.4    Global Account Reconciliation Software Market by Component
        8.4.1    Software
            8.4.1.1    Market Share
            8.4.1.2    Historical Trend (2016-2020)
            8.4.1.3    Forecast Trend (2021-2026)
        8.4.2    Service
            8.4.2.1    Market Share
            8.4.2.2    Historical Trend (2016-2020)
            8.4.2.3    Forecast Trend (2021-2026)
    8.5    Global Account Reconciliation Software Market by Deployment Mode
        8.5.1    On-Premise
            8.5.1.1    Market Share
            8.5.1.2    Historical Trend (2016-2020)
            8.5.1.3    Forecast Trend (2021-2026)
        8.5.2    Cloud
            8.5.2.1    Market Share
            8.5.2.2    Historical Trend (2016-2020)
            8.5.2.3    Forecast Trend (2021-2026)
    8.6    Global Account Reconciliation Software Market by Enterprise Size
        8.6.1    Large Enterprises
            8.6.1.1    Market Share
            8.6.1.2    Historical Trend (2016-2020)
            8.6.1.3    Forecast Trend (2021-2026)
        8.6.2    Small and Medium Enterprises (SMEs)
            8.6.2.1    Market Share
            8.6.2.2    Historical Trend (2016-2020)
            8.6.2.3    Forecast Trend (2021-2026)
    8.7    Global Account Reconciliation Software Market by Operating System
        8.7.1    Bank Reconciliation
            8.7.1.1    Market Share
            8.7.1.2    Historical Trend (2016-2020)
            8.7.1.3    Forecast Trend (2021-2026)
        8.7.2    Customer Reconciliation
            8.7.2.1    Market Share
            8.7.2.2    Historical Trend (2016-2020)
            8.7.2.3    Forecast Trend (2021-2026)
        8.7.3    Inter-Company Reconciliation
            8.7.3.1    Market Share
            8.7.3.2    Historical Trend (2016-2020)
            8.7.3.3    Forecast Trend (2021-2026)
        8.7.4    Others
    8.8    Global Account Reconciliation Software Market by Industry Vertical
        8.8.1    BFSI
            8.8.1.1    Market Share
            8.8.1.2    Historical Trend (2016-2020)
            8.8.1.3    Forecast Trend (2021-2026)
        8.8.2    Manufacturing
            8.8.2.1    Market Share
            8.8.2.2    Historical Trend (2016-2020)
            8.8.2.3    Forecast Trend (2021-2026)
        8.8.3    Retail and E-Commerce
            8.8.3.1    Market Share
            8.8.3.2    Historical Trend (2016-2020)
            8.8.3.3    Forecast Trend (2021-2026)
        8.8.4    Healthcare
            8.8.4.1    Market Share
            8.8.4.2    Historical Trend (2016-2020)
            8.8.4.3    Forecast Trend (2021-2026)
        8.8.5    IT and Telecom
            8.8.5.1    Market Share
            8.8.5.2    Historical Trend (2016-2020)
            8.8.5.3    Forecast Trend (2021-2026)
        8.8.6    Energy and Utilities
            8.8.6.1    Market Share
            8.8.6.2    Historical Trend (2016-2020)
            8.8.6.3    Forecast Trend (2021-2026)
        8.8.7    Government and Public Sector
            8.8.7.1    Market Share
            8.8.7.2    Historical Trend (2016-2020)
            8.8.7.3    Forecast Trend (2021-2026)
        8.8.8    Others
    8.9    Global Account Reconciliation Software Market by Region
        8.9.1    Market Share
            8.9.1.1    North America
            8.9.1.2    Europe
            8.9.1.3    Asia Pacific
            8.9.1.4    Latin America
            8.9.1.5    Middle East and Africa
9    Regional Analysis
    9.1    North America
        9.1.1    Historical Trend (2016-2020)
        9.1.2    Forecast Trend (2021-2026)
        9.1.3    Breakup by Country
            9.1.3.1    United States of America 
            9.1.3.2    Canada
    9.2    Europe
        9.2.1    Historical Trend (2016-2020)
        9.2.2    Forecast Trend (2021-2026)
        9.2.3    Breakup by Country 
            9.2.3.1    United Kingdom
            9.2.3.2    Germany
            9.2.3.3    France
            9.2.3.4    Italy
            9.2.3.5    Others
    9.3    Asia Pacific
        9.3.1    Historical Trend (2016-2020)
        9.3.2    Forecast Trend (2021-2026)
        9.3.3    Breakup by Country
            9.3.3.1    China
            9.3.3.2    Japan
            9.3.3.3    India
            9.3.3.4    ASEAN
            9.3.3.5    Australia
            9.3.3.6    Others
    9.4    Latin America
        9.4.1    Historical Trend (2016-2020)
        9.4.2    Forecast Trend (2021-2026)
        9.4.3    Breakup by Country
            9.4.3.1    Brazil
            9.4.3.2    Argentina
            9.4.3.3    Mexico
            9.4.3.4    Others
    9.5    Middle East and Africa
        9.5.1    Historical Trend (2016-2020)
        9.5.2    Forecast Trend (2021-2026)
        9.5.3    Breakup by Country
            9.5.3.1    Saudi Arabia
            9.5.3.2    United Arab Emirates
            9.5.3.3    Nigeria
            9.5.3.4    South Africa
            9.5.3.5    Others
10    Market Dynamics
    10.1    SWOT Analysis
        10.1.1    Strengths
        10.1.2    Weaknesses
        10.1.3    Opportunities
        10.1.4    Threats
    10.2    Porter’s Five Forces Analysis
        10.2.1    Supplier’s Power
        10.2.2    Buyer’s Power
        10.2.3    Threat of New Entrants
        10.2.4    Degree of Rivalry
        10.2.5    Threat of Substitutes
    10.3    EMR’s Key Indicators for Demand
    10.4    EMR’s Key Indicators for Price
11    Competitive Landscape
    11.1    Market Structure
    11.2    Company Profiles
        11.2.1    Broadridge Financial Solutions, Inc.
            11.2.1.1    Company Overview
            11.2.1.2    Product Portfolio
            11.2.1.3    Demographic Reach and Achievements
            11.2.1.4    Certifications
        11.2.2    BlackLine Inc.
            11.2.2.1    Company Overview
            11.2.2.2    Product Portfolio
            11.2.2.3    Demographic Reach and Achievements
            11.2.2.4    Certifications
        11.2.3    Oracle Corporation
            11.2.3.1    Company Overview
            11.2.3.2    Product Portfolio
            11.2.3.3    Demographic Reach and Achievements
            11.2.3.4    Certifications
        11.2.4    ReconArt, Inc.
            11.2.4.1    Company Overview
            11.2.4.2    Product Portfolio
            11.2.4.3    Demographic Reach and Achievements
            11.2.4.4    Certifications
        11.2.5    Fiserv, Inc.
            11.2.5.1    Company Overview
            11.2.5.2    Product Portfolio
            11.2.5.3    Demographic Reach and Achievements
            11.2.5.4    Certifications
        11.2.6    Others
12    Industry Events and Developments

 

List of Figures and Tables

1.    Global Account Reconciliation Software Market: Key Industry Highlights, 2016 and 2026
2.    Global Account Reconciliation Software Historical Market: Breakup by Component (USD Million), 2016-2020
3.    Global Account Reconciliation Software Market Forecast: Breakup by Component (USD Million), 2021-2026
4.    Global Account Reconciliation Software Historical Market: Breakup by Deployment Mode (USD Million), 2016-2020
5.    Global Account Reconciliation Software Market Forecast: Breakup by Deployment Mode (USD Million), 2021-2026
6.    Global Account Reconciliation Software Historical Market: Breakup by Enterprise Size (USD Million), 2016-2020
7.    Global Account Reconciliation Software Market Forecast: Breakup by Enterprise Size (USD Million), 2021-2026
8.    Global Account Reconciliation Software Historical Market: Breakup by Operating System (USD Million), 2016-2020
9.    Global Account Reconciliation Software Market Forecast: Breakup by Operating System (USD Million), 2021-2026
10.    Global Account Reconciliation Software Historical Market: Breakup by Industry Vertical (USD Million), 2016-2020
11.    Global Account Reconciliation Software Market Forecast: Breakup by Industry Vertical (USD Million), 2021-2026
12.    Global Account Reconciliation Software Historical Market: Breakup by Region (USD Million), 2016-2020
13.    Global Account Reconciliation Software Market Forecast: Breakup by Region (USD Million), 2021-2026
14.    North America Account Reconciliation Software Historical Market: Breakup by Country (USD Million), 2016-2020
15.    North America Account Reconciliation Software Market Forecast: Breakup by Country (USD Million), 2021-2026
16.    Europe Account Reconciliation Software Historical Market: Breakup by Country (USD Million), 2016-2020
17.    Europe Account Reconciliation Software Market Forecast: Breakup by Country (USD Million), 2021-2026
18.    Asia Pacific Account Reconciliation Software Historical Market: Breakup by Country (USD Million), 2016-2020
19.    Asia Pacific Account Reconciliation Software Market Forecast: Breakup by Country (USD Million), 2021-2026
20.    Latin America Account Reconciliation Software Historical Market: Breakup by Country (USD Million), 2016-2020
21.    Latin America Account Reconciliation Software Market Forecast: Breakup by Country (USD Million), 2021-2026
22.    Middle East and Africa Account Reconciliation Software Historical Market: Breakup by Country (USD Million), 2016-2020
23.    Middle East and Africa Account Reconciliation Software Market Forecast: Breakup by Country (USD Million), 2021-2026
24.    Global Account Reconciliation Software Market Structure

Key Questions Answered in the Report

The global account reconciliation software market attained a value of nearly USD 2.1 billion in 2020.

The market is projected to grow at a CAGR of 14.6% between 2021 and 2026.

The market is estimated to witness a healthy growth in the forecast period of 2021-2026 to reach about USD 4.70 billion by 2026.

The growing demand for bank reconciliation software and the increasing prevalence of credit card payments are driving the market growth.

The industry is projected to be augmented by the integration of artificial intelligence (AI) in the software and the development of innovative account reconciliation software by the leading companies.

The major regions in the industry are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific.

The major components of account reconciliation software are software and service.

The various deployment modes of account reconciliation software are on-premise and cloud.

The various enterprise sizes of account reconciliation software are large enterprises and small and medium enterprises (SMEs).

The significant operating systems of account reconciliation software are bank reconciliation, customer reconciliation, and inter-company reconciliation, among others.

The major industry verticals of account reconciliation software are BFSI, manufacturing, retail and e-commerce, healthcare, IT and telecom, energy and utilities, and government and public sector, among others.

The major players in the industry are Broadridge Financial Solutions, Inc., BlackLine Inc., Oracle Corporation, ReconArt, Inc, and Fiserv, Inc., among others.

Analyst Review

The global account reconciliation software market attained a value of about USD 2.1 billion in 2020, driven by the growing demand for bank reconciliation software as it provides more accurate cash conditions. Aided by the integration of artificial intelligence (AI) in account reconciliation software, the market is expected to witness a further growth in the forecast period of 2021-2026, growing at a CAGR of 14.6%. The market is projected to reach approximately USD 4.70 billion by 2026.

EMR’s meticulous research methodology delves deep into the market, covering the macro and micro aspects of the industry. Based on components, the market can be divided into software and service. By deployment mode, the market is segmented into on-premise and cloud. On the basis of enterprise size, the market is categorised into large enterprises and small and medium enterprises (SMEs). Based on operating system, the market is classified into bank reconciliation, customer reconciliation, and inter-company reconciliation, among others. By industry verticals, the market is divided into BFSI, manufacturing, retail and e-commerce, healthcare, IT and telecom, energy and utilities, and government and public sector, among others. The major regional markets for account reconciliation software are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa. The key players in the above market include Broadridge Financial Solutions, Inc., BlackLine Inc., Oracle Corporation, ReconArt, Inc, and Fiserv, Inc., among others.

EMR’s research methodology uses a combination of cutting-edge analytical tools and the expertise of their highly accomplished team, thus, providing their customers with market insights that are accurate, actionable, and help them remain ahead of their competition.

Purchase Full Report

Mini Report

$1499
  • Selected Sections, One User
  • Printing Not Allowed
  • Email Delivery in PDF
  • Free Limited Customisation
  • Post Sales Analyst Support
  • 50% Discount on Next Update

Single User License

$2699
  • All Sections, One User
  • One Print Allowed
  • Email Delivery in PDF
  • Free Limited Customisation
  • Post Sales Analyst Support
  • 50% Discount on Next Update

Five User License

$3699
  • All Sections, Five Users
  • Five Prints Allowed
  • Email Delivery in PDF
  • Free Limited Customisation
  • Post Sales Analyst Support
  • 50% Discount on Next Update

Corporate License

$4699
  • All Sections, Unlimited Users
  • Unlimited Prints Allowed
  • Email Delivery in PDF + Excel
  • Free Limited Customisation
  • Post Sales Analyst Support
  • 50% Discount on Next Update

Any Question? Speak With An Analyst

Contact Analyst

View A Sample

Request Sample

Did You Miss Anything, Ask Now

Request Customisation
Why Expert Market Research?

RIGHT PEOPLE

We are technically excellent, strategic, practical, experienced and efficient; our analysts are hand-picked based on having the right attributes to work successfully and execute projects based on your expectations.

RIGHT METHODOLOGY

We leverage our cutting-edge technology, our access to trusted databases, and our knowledge of the current models used in the market to deliver you research solutions that are tailored to your needs and put you ahead of the curve.

RIGHT PRICE

We deliver in-depth and superior quality research in prices that are reasonable, unmatchable, and shows our understanding of your resource structure. We, additionally, offer attractive discounts on our upcoming reports.

RIGHT SUPPORT

Our team of expert analysts are at your beck and call to deliver you optimum results that are customised to meet your precise needs within the specified timeframe and help you form a better understanding of the industry.

Similar Reports





NEWSLETTER