Financial close software, also called accounting close software, provides tools to help businesses complete the financial close cycle. Many organizations perform financial close at the end of each month, during which accountants within an organization use this software to ensure the books are accurate and any transactions were successfully completed. Tasks, such as bill payment and delivery, expense approval, and lead importing, will be laid out in checklists and checked off once completed. Financial close products often include features such as individual task allocation, reconciliation management, and databases of past accounting close data organized by month and transaction type. Individual progress and deadlines for each period can also be tracked by the accounting team throughout the cycle. These tools typically integrate with spreadsheets and various accounting tools to help users comprehensively document relevant data and identify noteworthy findings or inconsistencies. They may also integrate with or come packaged with other corporate performance management (CPM) features such as financial consolidation or budgeting and forecasting.
This report contains market size and forecasts of Financial Close Management Software in Global, including the following market information:
Global Financial Close Management Software Market Revenue, 2017-2022, 2023-2028, ($ millions)
Global top five companies in 2021 (%)
The global Financial Close Management Software market was valued at million in 2021 and is projected to reach US$ million by 2028, at a CAGR of % during the forecast period.
The U.S. Market is Estimated at $ Million in 2021, While China is Forecast to Reach $ Million by 2028.
Cloud-based Segment to Reach $ Million by 2028, with a % CAGR in next six years.
The global key manufacturers of Financial Close Management Software include SAP, IBM, Oracle, BlackLine, FloQast, Prophix Software, Planful, Wdesk and CCH Tagetik, etc. In 2021, the global top five players have a share approximately % in terms of revenue.
MARKET MONITOR GLOBAL, INC (MMG) has surveyed the Financial Close Management Software companies, and industry experts on this industry, involving the revenue, demand, product type, recent developments and plans, industry trends, drivers, challenges, obstacles, and potential risks.
Total Market by Segment:
Global Financial Close Management Software Market, by Type, 2017-2022, 2023-2028 ($ millions)
Global Financial Close Management Software Market Segment Percentages, by Type, 2021 (%)
Cloud-based
On-Premise
Global Financial Close Management Software Market, by Application, 2017-2022, 2023-2028 ($ millions)
Global Financial Close Management Software Market Segment Percentages, by Application, 2021 (%)
Small and medium-sized Company
Large Private Company
Listed Company
Global Financial Close Management Software Market, By Region and Country, 2017-2022, 2023-2028 ($ Millions)
Global Financial Close Management Software Market Segment Percentages, By Region and Country, 2021 (%)
North America
US
Canada
Mexico
Europe
Germany
France
U.K.
Italy
Russia
Nordic Countries
Benelux
Rest of Europe
Asia
China
Japan
South Korea
Southeast Asia
India
Rest of Asia
South America
Brazil
Argentina
Rest of South America
Middle East & Africa
Turkey
Israel
Saudi Arabia
UAE
Rest of Middle East & Africa
Competitor Analysis
The report also provides analysis of leading market participants including:
Key companies Financial Close Management Software revenues in global market, 2017-2022 (estimated), ($ millions)
Key companies Financial Close Management Software revenues share in global market, 2021 (%)
Further, the report presents profiles of competitors in the market, key players include:
SAP
IBM
Oracle
BlackLine
FloQast
Prophix Software
Planful
Wdesk
CCH Tagetik
Vena
Kaufman Hall Axiom Software
DataRails
Adra Suite by Trintech
Equity Edge
Longview