North America Account Reconciliation Software Market By Component (Software (Without Services) and Services), By Deployment Type (On-premise and Cloud), By Organization Size (Large Enterprises and Small & Medium Enterprises), By Application (Bank Reconciliation, Customer Reconciliation, Inter-company Reconciliation and Others), By End User (BFSI, IT & Telecom, Healthcare & Social Assistance, Retail, Government & Public Sector and Others), By Country, Industry Analysis and Forecast, 2020 - 2026
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Market Report Description
The North America Account Reconciliation Software Market would witness market growth of 16.1% CAGR during the forecast period (2020-2026). The acceptance of account reconciliation software has expanded over time because of the advancements in the fintech business and upgrades in strong government guidelines across the globe. Also, the capacity of the software to improve the accounting stream of the organization is expanding its fame among the end clients. Besides, small and medium enterprises are accepting cloud-based account reconciliation software for cutting down the operational expense of the organization and expanding the security of the transactions.
Increment in online transactions among different industries and a rise in need for reconciliation the management framework drives the development of the account reconciliation software market. Also, developing adoption of automated banking arrangements across the globe to diminish reconciliation time powers the development of the market. However, different security issues in account reconciliation software impede the development of the market. Moreover, higher acceptance of account reconciliation software among the SMEs and a rise in the use of AI and man-made reasoning in account reconciliation software are the variables expected to give worthwhile chances to the development of the market.
Based on the region, the account reconciliation software market was ruled by North America in 2019 and is anticipated to hold its position during the forecast period. The key factors that drive the development of the market in this region incorporate the infiltration of account reconciliation software among businesses to build their operational proficiency.
Based on Component, the market is segmented into Software (Without Services) and Services. Based on Deployment Type, the market is segmented into On-premise and Cloud. Based on Organization Size, the market is segmented into Large Enterprises and Small & Medium Enterprises. Based on Application, the market is segmented into Bank Reconciliation, Customer Reconciliation, Inter-company Reconciliation and Others. Based on End User, the market is segmented into BFSI, IT & Telecom, Healthcare & Social Assistance, Retail, Government & Public Sector and Others. Based on countries, the market is segmented into U.S., Mexico, Canada, and Rest of North America.
The market research report covers theanalysis of key stake holders of the market. Key companies profiled in the report include Oracle Corporation, SAP SE, Fiserv, Inc., Broadridge Financial Solutions, Inc., BlackLine, Inc., Intuit, Inc. (Quickbooks), The Sage Group PLC, Rimilia Holdings Ltd., AutoRek, and ReconArt, Inc.
Scope of the North America Account Reconciliation Software Market Analysis
- Software (Without Services)
By Deployment Type
By Organization Size
- Large Enterprises
- Small & Medium Enterprises
- Bank Reconciliation
- Customer Reconciliation
- Inter-company Reconciliation
- IT & Telecom
- Healthcare & Social Assistance
- Government & Public Sector
- Rest of North America
- Oracle Corporation
- SAP SE
- Fiserv, Inc.
- Broadridge Financial Solutions, Inc.
- BlackLine, Inc.
- Intuit, Inc. (Quickbooks)
- The Sage Group PLC
- Rimilia Holdings Ltd.
- ReconArt, Inc.
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