Pune, India -- (SBWIRE) -- 03/05/2019 -- The global financial accounting software market accounted to US$ 4.36 Bn in 2017 and is expected to grow at a CAGR of 11.7% during the forecast period 2018 – 2025, to account to US$ 10.37 Bn by 2025.

Modern day businesses are characterized by high amount of uncertainty and may be impacted due to a myriad reasons. The data pertaining to net sales, profit earned per annum, per quarter and per month can be strategically used to forecast for years ahead. Accounting software solutions and applications are dedicated to the managing and processing of the financial data. These software are used by the accounting professionals as well as bookkeeping teams to automate operations by recording accounting data, measuring the performance indicators, and finally report the company's financial activities. This information is then used by various investors, stakeholders and higher management teams of the company for varied purposes.

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Companies profiled in this report includes, Intuit Inc., FreshBooks, Wave Financial Inc., Xero, Sage Group PLC, and Zoho Corporation Pvt. Ltd.

Software based accounting applications have the potential to cater services to small, medium and large enterprises efficiently. Cloud-based management systems give all the entities involved, complete visibility and traceability of the company's accounts, profit & loss for each month, and each quarter, demand in the market and the most updated cost information about the product. Basically, it gives more power and a bird's eye view of the data to the user of the application. Value addition at each node has made it a lot simpler to create benefits for the end-user. Users of software accounting applications can see exact figures related to the revenue generated, profit or loss statements of the company, do cost comparisons, and thereby empowers the organization to formulate strategies for the future term. Such benefits have resulted in large adoptions by different industry sectors today that is driving this market.

Also, software accounting vendors utilize redundant servers to back-up data. So if a server in the clouds malfunction, users would be automatically redirected to a back-up server without any noticeable performance issues. In addition, software accounting vendors perform daily data back-ups. Since there is one version of the software, there are typically more vendor resources directed to identifying bugs/issues and the related fixes/patches required to address those concerns. These added benefits further result in greater adoption of cloud based financial accounting software applications in the market and in turn boost the overall growth of financial accounting software market

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The global financial accounting software market has been segmented on the basis of deployment model, application, and enterprise size. On the basis of deployment model, the market has been bifurcated into on-premise, and cloud based model. The financial accounting software find its applications into various business functions that from the basis of segmentation by application. The market has therefore been segmented on the basis of application into payroll management systems, billing & invoice system, Enterprise Resource Planning (ERP) systems, time & expense management systems, and others. Further, on the basis of enterprise size, the financial accounting software market has been segmented into Small & Medium Enterprise (SME), and large enterprise.

Reasons to Buy the Report
The report helps the market leaders and new entrants in the Financial Accounting Software market in the following ways:
- The report segments the market into various subsegments; hence, it covers the market comprehensively. The report provides the closest approximations of the revenue numbers for the overall market and its subsegments.
- The report helps understand the overall growth of the market. It provides information on the key market drivers, restraints, challenges, and opportunities.
- The report helps better understand competitors and gain more insights to strengthen organizations' position in the market. In addition to this, the report presents the positioning of the key players based on their product offerings and business strategies.

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