Most accounting software packages offer the same basic features necessary for managing finances: accounts receivable, accounts payable, general ledger, billing and invoicing, purchase and sales orders, and reporting.
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Accounting software Market is a foundational technology for many companies, and as a business grows having a powerful, effective accounting solution becomes increasingly critical.
Beyond basic functionality, the top accounting solutions offer additional features to give users more power, flexibility and customization. Oftentimes accounting solutions are closely integrated with other key software solutions.
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Accounting solutions target four segments. Entry Level software is the least expensive and with the least number of features and functionality.
This segment is now split into desktop applications and online solutions. The Market is separated into Small to Medium Business (SMB) and Small to Medium Enterprise (SME.) Finally, there are the major Enterprise Resource Planning (ERP) solutions that are typically deployed in Fortune 500-size companies.
In this report, the focus of this article is small to medium sized businesses, so in this report there is not involving the ERP solutions.
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The global revenue of Accounting Software market was valued at USD 8.94 billion in 2016 and is expected to reach USD 9.64 billion by 2017. USA took the largest global revenue share in Accounting Software market.
That's in a total market of 29.21 million small businesses in the United States. The market penetration is less than 20%.
Apparently 24 million small businesses don't use accounting software at all. The Asia Pacific region is expected to be the fastest growing market for Accounting Software services during the forecast period.
In Asia/Pacific, the Accounting Software Solutions market is expected to grow from $1.80 billion in 2012 to $2.83 billion in 2017 (a five year compounded growth rate of 9.39%).
Market Segment by Manufacturers, this report covers – Intuit, Sage, SAP, Oracle (NetSuite), Microsoft, Infor, Epicor, Workday, Unit4, Xero, Yonyou
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