[January 06, 2014]

Research and Markets: Global Financial Accounting Application Market 2014-2018 with Microsoft Corp., Oracle Corp., and SAP AG Dominating

Research and Markets (http://www.researchandmarkets.com/research/nngl63/global_financial) has announced the addition of the "Global Financial Accounting Application Market 2014-2018" report to their offering.

The analysts forecast the Global Financial Accounting Application market to grow at a CAGR of 3.01 percent over the period 2013-2018. One of the key factors contributing to this market growth is the need to improve the operational efficiency and productivity. The Global Financial Accounting Application market has also been witnessing the increasing adoption of cloud-based financial accounting application software. However, the cross-functional integration among various departments could pose a challenge to the growth of this market.

The key vendors dominating this arket space are Intuit (News - Alert) Inc., Microsoft Corp., Oracle Corp., and SAP AG.

Other vendors mentioned in the report are COA Solutions, Deltek Inc., Epicor Software (News - Alert) Corp., Exact Software, Infor, Lawson Software Inc., NetSuite Inc., Technology One Ltd., and the Sage Group plc.

Commenting on the report, an analyst from the team said: Financial accounting solutions perform debits and credits, but beyond the general ledger, fixed assets, accounts payable and other transactional systems, there are some other important financial accounting solutions that assist in cash management, planning, and budgeting. Today, enterprises want all time access to cash management, financial planning, budgeting and other solutions. In addition, enterprises are increasingly relying on cloud solutions for planning, budgeting, banking, and treasury solutions in use at their firms. More large enterprises are adopting the use of cloud-based solutions because they have a greater need for consolidation budgeting, planning and reporting tools. In addition, large enterprises have growing needs for more modern and mobile applications.

According to the report, one of the major drivers is the need to improve operational efficiency and productivity. Financial accounting application software helps organizations to deploy standard processes in order to achieve consistency, and it also ensures automation of processes in order to accelerate them.

For more information visit http://www.researchandmarkets.com/research/nngl63/global_financial

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