The global Finance Cloud Technology market size was significantly robust in 2020 and is expected to register a steady revenue CAGR during the forecast period. Key factors driving market revenue growth are penetration of cloud-based services in various industry verticals and rising demand for operational efficiency transparency in processes. In addition, enhanced security, reduced infrastructure, improved compliance, and data management are other key factors expected to drive demand for Finance Cloud Technology, and support market revenue growth.
The term cloud refers to internet-accessible servers, as well as the software and databases that operate on those servers. Cloud servers are situated in many data centers across the world. Financial clouds offer a variety of financial services over the cloud such as establishing budgets, generating invoices, accounting for all spending, approving purchase requests, managing payments, and many more.
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Revenue growth of global Finance Cloud Technology market is significantly driven by improved security standards with zero-trust verification, encrypted data, and recorded records that can give comprehensive audit trails. Cloud-based technology aid with compliance by maintaining the most recent requirements and accounting standards. A cloud-based system allows huge amounts of data to be safely stored while also being accessible at any time and place depending on specified user access rights. Cloud technology gives the flexibility to scale up or down to suit the sector's changing needs. To keep up with the requirements of contemporary accounting, data storage capacity, computing power, and networking may all be easily updated. Since cloud services are paperless, they are more environmentally beneficial, resulting in a lower carbon impact for firms which is expected to further boost revenue growth.
Top 10 Companies Operating in the Global Finance Cloud Technology Market:
- Oracle Corporation
- IBM Corporation
- Microsoft Corporation
- SAP SE
- Sage Intacct Inc.
- Goldman Sachs
- Acumatica Inc.
- Huawei Technologies Co. Ltd.
- Amazon Web Services
- Fiserv Inc.
- Salesforce Inc.
- Beeks Financial Cloud Group Plc
- Temenos Headquarters SA
- SSC Technologies Inc.
- FIS Inc.
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The global market is further segmented into type and application:
Type Outlook (Revenue, USD Billion; 2018-2028)
- Financial Reporting Analysis
- Financial Forecasting
- Governance, Risk, Compliance
- Professional Services
- Managed Services
Deployment Mode Outlook (Revenue, USD Billion; 2018-2028)
- Public Cloud
- Private Cloud
- Hybrid Cloud
Application Outlook (Revenue, USD Billion; 2018-2028)
- Wealth Management System
- Revenue Management
- Account Management
- Customer Management
Regional analysis provides insights into key trends and demands in each major country that can affect market growth in the region.
- North America (U.S., Canada, Mexico)
- Europe (Germany, U.K., Italy, France, BENELUX, Rest of Europe)
- Asia Pacific (China, India, Japan, South Korea, Rest of APAC)
- Latin America (Brazil, Rest of LATAM)
- Middle East Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
Key Takeaways of the Competitive Overview Section:
- Overview of the company profiles of each market player
- Industrial chain analysis of each player
- Revenue share contribution
- Sales network and distribution channels and net profits and losses of each company
- Key business growth strategies are undertaken by these players
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