Accounting Software Market
According to a new market report published by Transparency
Market Research, the global
accounting software market was
valued at US$ 5,715.9 Mnin 2017 and is expected to reach US$ 11,771.6 Mn by
2026, expanding at a CAGR of 8.6% from 2018 to 2026. According to the report,
North America was a prominent contributor in terms of revenue to the global
accounting software market in 2017. This is primarily due to the integration of
accounting software with smartphones, tablets, and computers across the region.
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Demand for compelling user-interfaces is driving the
global accounting software market
Most accounting software/systems currently in use are
becoming obsolete as they lack technological competitiveness, as compared to
the new comprehensive models that possess the ability to take care of various
operations simultaneously. This creates a favorable environment for the overall
expansion of the accounting software market, in terms of an upgrade.
Accounting software tops at analyzing business practices,
and it helps rapidly identify cash flows in an operation. It is a software that
manages all financial transactions and has extensive data at its disposal in
order to generate various reports. The reporting options are virtually
unlimited, depending on the type of software that is used. Additionally, using
accounting software also helps save money and time and offers valuable insights
into the business. Furthermore, a significant expectation from accounting
software presently is that the user-interface needs to be more engaging and is
expected to provide a near consumer-like experience. This is a key factor that
is anticipated to boost the accounting software market.
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