Impact Analysis of Covid-19
The complete version of the REPORT will include the impact of the COVID-19, and anticipated change on the future outlook of the industry, by taking into the account the political, economic, social, and technological parameters.
The latest update of “Global Bank Reconciliation Software Market” released by Stratagem Market Insights, forecasts further growth in the global supply and demand. The market report builds upon our previous iteration and the new release reinforces the sentiment that the 2021-2028 period is expected to be a promising period for the global Bank Reconciliation Software Market.
Overview of the Bank Reconciliation Software Market:
A bank reconciliation software is a tool that allows businesses to reconcile their bank statements quickly and accurately. It eliminates the tedious task of manually reconciling the bank statements. Reconciliation can be very time-consuming, especially when a company makes hundreds of payments every month, has multiple banks accounts, or uses payment services. These errors are difficult to spot, and can result in lost business. In addition, these programs help companies manage their cash flow.
Rise in the online transaction is a prime factor driving growth of the bank reconciliation software market. According to the India Brand Equity Foundation, the Indian E-commerce industry has been on an upward growth trajectory and is expected to surpass the US to become the second-largest E-commerce market in the world by 2034. India e-commerce sector is expected to reach US$ 111.40 billion by 2025 from US$ 46.20 billion in 2020, growing at a 19.24% CAGR, with grocery and fashion/apparel likely to be the key drivers of incremental growth. Moreover, growing adoption of automated banking solution is again augmenting market growth.
North America is expected to witness significant growth over the forecast period owing to the introduction of technologically advanced solution in bank reconciliation software. For instance, in October 2021, Modern Treasury, a payments operations software platform, announced its Virtual Accounts product to make it easy for companies to quickly and accurately track and reconcile payments at scale. The launch of Virtual Accounts further solidifies Modern Treasury’s enabling companies to modernize, automate and accelerate payments
Key Developments:
- In August 2021, Xero has launched comprehensive improvements to its bank reconciliation feature, the largest upgrade to the function in a decade.The new improvements allow all Xero subscribers to leverage Artificial Intelligence(AI) capabilities designed to save time, reduce data entry and increase accuracy
- In March 2019, Versapay Corporation a provider of cloud-based invoice-to-cash solutions including electronic invoice presentment and payment, automated collections and cash application, announced that it has launched a new module on the ARC platform that offers enhanced cash application and bank reconciliation capabilities powered Cashbook
- In October 2020, OpenGov has added a new bookkeeping tool to its suite of enterprise resource planning software with the acquisition of ClearRec, a Texas-based company with an expertise in bank reconciliation
- In April 2020, OneStream has launched a new program that promises to speed up the time it takes to reconcile accounts
Market Estimation:
The data processed and validated in secondary and primary research is analyzed to compute market estimation statistics. It involves market breakdown, bottom-up, and top-down research. Our research team considers macroeconomic factors to forecast a comprehensive statistical time series. Each data point is validated through the process data triangulation method to derive the final market estimation.
COVID-19 Impact:
The updated report, free extract available, comes with an option to access premium features that covers extensive past, current, and future data. Other valuable updates to the global Bank Reconciliation Software Market report include a reviewed and refined pricing model for manufacturing and launch prices. The report incorporates new content to help give decision-makers key knowledge about the market and offers up-to-date forecasts accounting for the economic situation and impact of COVID-19.
Market Competition Assessment:
The Bank Reconciliation Software Market is observed as the most diversified and competitive market comprising a large number of players. The market is dominated by several players, depending on their major competencies. The key players in this market are
- ReconArt
- SmartStream
- BlackLine
- Adra
- Fiserv, Inc
- SAP
- Flatworld Solutions Pvt. Ltd.
- IStream Financial Services
- Aurum Solution
- AutoRek
- Xero
- Unit4
- Cashbook
- Trintech
- Rimilia
- Fiserv
- Open Systems
- Fund Recs
- Oracle
Segments Covered in the Report:
This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2021 to 2028. For the purpose of this study, Stratagem Market Insights has segmented the global Bank Reconciliation Software Market report on the basis of Types, Applications, and Regions.
By Product Type, the market is primarily segmented into:
By Applications, the market is segmented into:
- Banks
- Insurance
- Retail
- Government
- Others
The report covers the following Regions:
- North America
- Latin America
- Europe
- Asia Pacific
- Africa
- Middle East
Primary Research Insights:
The process of primary research starts with the verification and validation of every detail obtained in secondary research. This is done with the help of industry experts and in-house analysts who check the authentication of the data. Stratagem Market Insights also ensures that our research is not restricted by certain boundaries, which is why we consult each individual in the value chain including raw materials suppliers, local vendors, wholesale dealers, distributors, etc. We also make sure that every detail provided in the document will hold a certain value and it will not be trivial information. Moreover, current market trends, growth opportunities, drivers, and restraints are computed in primary research only.
The Report Sheds Light on Various Aspects of the Market, Some of the important ones are:
- What can be the best investment choices for venturing into new product and service lines?
- Which regions might see the demand maturing in certain segments in near future?
- Which government regulations might challenge the status of key regional markets?
- What are some of the value-grab opportunities in various segments?
- What will be the barrier to entry for new players in the market?
Why You Should Buy This Report:
- The report provides an all-inclusive environment of the analysis for the market
- In-depth secondary research and primary interviews
- Impact of various social, political, and economic factors
- Porter’s Five Forces Analysis
- Competitive Landscape
Available Customizations:
Custom research is one of the most crucial components of the business strategy that helps an organization gain insight into a specific business sector, aligned with its specific area of interest. Thus, SMI offers more accurate, pragmatic, and actionable information specifically tailored to suit your business needs.
Table of Content
1 Report Overview
1.1 Study Scope
1.2 Key Market Segments
1.3 Players Covered: Ranking by Bank Reconciliation Software Market Revenue
1.4 Market Analysis by Type
1.5 Market by Application
1.5.1 Global Bank Reconciliation Software Market Share by Application: 2021 VS 2028
1.6 Coronavirus Disease 2019 (Covid-19) Impact: Bank Reconciliation Software Market
1.6.1 How the Covid-19 is Affecting the Bank Reconciliation Software Market
1.6.1.1 Bank Reconciliation Software Market Business Impact Assessment - Covid-19
1.6.2 Market Trends and Bank Reconciliation Software Market Potential Opportunities in the COVID-19 Landscape
1.6.3 Measures / Proposal against Covid-19
1.6.3.1 Government Measures to Combat Covid-19 Impact
1.7 Study Objectives
1.8 Years Considered
2 Global Growth Trends by Regions
2.1 Bank Reconciliation Software Market Perspective (2015-2028)
2.2 Bank Reconciliation Software Market Growth Trends by Regions
2.2.1 Bank Reconciliation Software Market Size by Regions: 2015 VS 2021 VS 2028
2.2.2 Bank Reconciliation Software Market Historic Market Share by Regions (2015-2021)
2.2.3 Bank Reconciliation Software Market Forecasted Market Size by Regions (2021-2028)
2.3 Industry Trends and Growth Strategy
2.3.1 Market Top Trends
2.3.2 Market Drivers
2.3.3 Market Challenges
2.3.4 Porters Five Forces Analysis
2.3.5 Bank Reconciliation Software Market Growth Strategy
2.3.6 Primary Interviews with Key Bank Reconciliation Software Market Players (Opinion Leaders)
3 Competition Landscape by Key Players
3.1 Global Top Bank Reconciliation Software Market Players by Market Size
3.1.1 Global Top Bank Reconciliation Software Market Players by Revenue (2015-2021)
3.1.2 Global Bank Reconciliation Software Market Revenue Market Share by Players (2015-2021)
3.1.3 Global Bank Reconciliation Software Market Share by Company Type (Tier 1, Tier 2 and Tier 3)
3.2 Global Bank Reconciliation Software Market Concentration Ratio
3.2.1 Global Bank Reconciliation Software Market Concentration Ratio (CR5 and HHI)
3.2.2 Global Top 10 and Top 5 Companies by Bank Reconciliation Software Market Revenue in 2019
3.3 Bank Reconciliation Software Market Key Players Head office and Area Served
3.4 Key Players Bank Reconciliation Software Market Product Solution and Service
3.5 Date of entering into Bank Reconciliation Software Market
3.6 Mergers & Acquisitions, Expansion Plans
4 Breakdown Data by Type (2015-2028)
4.1 Global Bank Reconciliation Software Market Historic Market Size by Type (2015-2021)
4.2 Global Bank Reconciliation Software Market Forecasted Market Size by Type (2021-2028)
5 Bank Reconciliation Software Market Breakdown Data by Application (2015-2028)
5.1 Global Bank Reconciliation Software Market Size by Application (2015-2021)
5.2 Global Bank Reconciliation Software Market Forecasted Market Size by Application (2021-2028)
6 North America
6.1 North America Bank Reconciliation Software Market Size (2015-2021)
6.2 Bank Reconciliation Software Market Key Players in North America (2019-2021)
6.3 North America Bank Reconciliation Software Market Size by Type (2015-2021)
6.4 North America Bank Reconciliation Software Market Size by Application (2015-2021)
7 Europe
7.1 Europe Bank Reconciliation Software Market Size (2015-2021)
7.2 Bank Reconciliation Software Market Key Players in Europe (2019-2021)
7.3 Europe Bank Reconciliation Software Market Size by Type (2015-2021)
7.4 Europe Bank Reconciliation Software Market Size by Application (2015-2021)
8 China
8.1 China Bank Reconciliation Software Market Size (2015-2021)
8.2 Bank Reconciliation Software Market Key Players in China (2019-2021)
8.3 China Bank Reconciliation Software Market Size by Type (2015-2021)
8.4 China Bank Reconciliation Software Market Size by Application (2015-2021)
9 Japan
9.1 Japan Bank Reconciliation Software Market Size (2015-2021)
9.2 Bank Reconciliation Software Market Key Players in Japan (2019-2021)
9.3 Japan Bank Reconciliation Software Market Size by Type (2015-2021)
9.4 Japan Bank Reconciliation Software Market Size by Application (2015-2021)
10 Southeast Asia
10.1 Southeast Asia Bank Reconciliation Software Market Size (2015-2021)
10.2 Bank Reconciliation Software Market Key Players in Southeast Asia (2019-2021)
10.3 Southeast Asia Bank Reconciliation Software Market Size by Type (2015-2021)
10.4 Southeast Asia Bank Reconciliation Software Market Size by Application (2015-2021)
11 India
11.1 India Bank Reconciliation Software Market Size (2015-2021)
11.2 Bank Reconciliation Software Market Key Players in India (2019-2021)
11.3 India Bank Reconciliation Software Market Size by Type (2015-2021)
11.4 India Bank Reconciliation Software Market Size by Application (2015-2021)
12 Central & South America
12.1 Central & South America Bank Reconciliation Software Market Size (2015-2021)
12.2 Bank Reconciliation Software Market Key Players in Central & South America (2019-2021)
12.3 Central & South America Bank Reconciliation Software Market Size by Type (2015-2021)
12.4 Central & South America Bank Reconciliation Software Market Size by Application (2015-2021)
13 Key Players Profiles
13.1 Company Details
13.2 Business Overview and Its Total Revenue
13.3 Bank Reconciliation Software Market Introduction
13.4 Bank Reconciliation Software Market Business (2015-2021)
13.5 Recent Development
14 Analyst's Viewpoints/Conclusions
15 Appendix
15.1 Research Methodology
15.1.1 Methodology/Research Approach
15.1.2 Data Source
15.2 Disclaimer
15.3 Author Details
List of Table
Table 1. Bank Reconciliation Software Market Key Market Segments
Table 2. Key Players Covered: Ranking by Bank Reconciliation Software Market Revenue
Table 3. Ranking of Global Top Bank Reconciliation Software Market Manufacturers by Revenue (US$ Million) in 2019
Table 4. Global Bank Reconciliation Software Market Size Growth Rate by Type (US$ Million): 2021 VS 2028
Table 5. COVID-19 Impact Global Market
Table 6. Opportunities and Trends for Bank Reconciliation Software Market Players in the COVID-19 Landscape
Table 7. Present Opportunities in China & Elsewhere Due to the Coronavirus Crisis
Table 8. Key Regions/Countries Measures against Covid-19 Impact
Table 9. Proposal for Bank Reconciliation Software Market Players to Combat Covid-19 Impact
Table 10. Global Bank Reconciliation Software Market Size Growth by Application (US$ Million): 2021 VS 2028
Table 11. Global Bank Reconciliation Software Market Size by Regions (US$ Million): 2021 VS 2028
Table 12. Global Bank Reconciliation Software Market Size by Regions (2015-2021) (US$ Million)
Table 13. Global Bank Reconciliation Software Market Share by Regions (2015-2021)
Table 14. Global Bank Reconciliation Software Market Forecasted Market Size by Regions (2021-2028) (US$ Million)
Table 15. Global Bank Reconciliation Software Market Share by Regions (2021-2028)
Table 16. Market Top Trends
Table 17. Key Drivers: Impact Analysis
Table 18. Key Challenges
Table 19. Bank Reconciliation Software Market Growth Strategy
Table 20. Main Points Interviewed from Key Bank Reconciliation Software Market Players
Table 21. Global Bank Reconciliation Software Market Revenue by Players (2015-2021) (Million US$)
Table 22. Global Bank Reconciliation Software Market Share by Players (2015-2021)
Table 23. Global Top Bank Reconciliation Software Market Players by Company Type (Tier 1, Tier 2 and Tier 3) (based on the Revenue in Bank Reconciliation Software Market as of 2019)
Table 24. Global Bank Reconciliation Software Market by Players Market Concentration Ratio (CR5 and HHI)
Table 25. Key Players Headquarters and Area Served
Table 26. Key Players Bank Reconciliation Software Market Product Solution and Service
Table 27. Date of entering into Bank Reconciliation Software Market
Table 28. Mergers & Acquisitions, Expansion Plans
Table 29. Global Bank Reconciliation Software Market Size by Type (2015-2021) (Million US$)
Table 30. Global Bank Reconciliation Software Market Size Share by Type (2015-2021)
Table 31. Global Bank Reconciliation Software Market Revenue Market Share by Type (2021-2028)
Table 31. Global Bank Reconciliation Software Market Size Share by Application (2015-2021)
Table 33. Global Bank Reconciliation Software Market Size by Application (2015-2021) (Million US$)
Table 34. Global Bank Reconciliation Software Market Size Share by Application (2021-2028)
Table 35. North America Key Players Bank Reconciliation Software Market Revenue (2019-2021) (Million US$)
Table 36. North America Key Players Bank Reconciliation Software Market Share (2019-2021)
Table 37. North America Bank Reconciliation Software Market Size by Type (2015-2021) (Million US$)
Table 38. North America Bank Reconciliation Software Market Share by Type (2015-2021)
Table 39. North America Bank Reconciliation Software Market Size by Application (2015-2021) (Million US$)
Table 40. North America Bank Reconciliation Software Market Share by Application (2015-2021)
Table 41. Europe Key Players Bank Reconciliation Software Market Revenue (2019-2021) (Million US$)
Table 42. Europe Key Players Bank Reconciliation Software Market Share (2019-2021)
Table 43. Europe Bank Reconciliation Software Market Size by Type (2015-2021) (Million US$)
Table 44. Europe Bank Reconciliation Software Market Share by Type (2015-2021)
Table 45. Europe Bank Reconciliation Software Market Size by Application (2015-2021) (Million US$)
Table 46. Europe Bank Reconciliation Software Market Share by Application (2015-2021)
Table 47. China Key Players Bank Reconciliation Software Market Revenue (2019-2021) (Million US$)
Table 48. China Key Players Bank Reconciliation Software Market Share (2019-2021)
Table 49. China Bank Reconciliation Software Market Size by Type (2015-2021) (Million US$)
Table 50. China Bank Reconciliation Software Market Share by Type (2015-2021)
Table 51. China Bank Reconciliation Software Market Size by Application (2015-2021) (Million US$)
Table 52. China Bank Reconciliation Software Market Share by Application (2015-2021)
Table 53. Japan Key Players Bank Reconciliation Software Market Revenue (2019-2021) (Million US$)
Table 54. Japan Key Players Bank Reconciliation Software Market Share (2019-2021)
Table 55. Japan Bank Reconciliation Software Market Size by Type (2015-2021) (Million US$)
Table 56. Japan Bank Reconciliation Software Market Share by Type (2015-2021)
Table 57. Japan Bank Reconciliation Software Market Size by Application (2015-2021) (Million US$)
Table 58. Japan Bank Reconciliation Software Market Share by Application (2015-2021)
Table 59. Southeast Asia Key Players Bank Reconciliation Software Market Revenue (2019-2021) (Million US$)
Table 60. Southeast Asia Key Players Bank Reconciliation Software Market Share (2019-2021)
Table 61. Southeast Asia Bank Reconciliation Software Market Size by Type (2015-2021) (Million US$)
Table 62. Southeast Asia Bank Reconciliation Software Market Share by Type (2015-2021)
Table 63. Southeast Asia Bank Reconciliation Software Market Size by Application (2015-2021) (Million US$)
Table 64. Southeast Asia Bank Reconciliation Software Market Share by Application (2015-2021)
Table 65. India Key Players Bank Reconciliation Software Market Revenue (2019-2021) (Million US$)
Table 66. India Key Players Bank Reconciliation Software Market Share (2019-2021)
Table 67. India Bank Reconciliation Software Market Size by Type (2015-2021) (Million US$)
Table 68. India Bank Reconciliation Software Market Share by Type (2015-2021)
Table 69. India Bank Reconciliation Software Market Size by Application (2015-2021) (Million US$)
Table 70. India Bank Reconciliation Software Market Share by Application (2015-2021)
Table 71. Central & South America Key Players Bank Reconciliation Software Market Revenue (2019-2021) (Million US$)
Table 72. Central & South America Key Players Bank Reconciliation Software Market Share (2019-2021)
Table 73. Central & South America Bank Reconciliation Software Market Size by Type (2015-2021) (Million US$)
Table 74. Central & South America Bank Reconciliation Software Market Share by Type (2015-2021)
Table 75. Central & South America Bank Reconciliation Software Market Size by Application (2015-2021) (Million US$)
Table 76. Central & South America Bank Reconciliation Software Market Share by Application (2015-2021)
Table 77. Company Details
Table 78. Business Overview
Table 79. Product details
Table 80. Revenue in Bank Reconciliation Software Market Business (2015-2021) (Million US$)
Table 81. Recent Development
List of Figures
Figure 1. Global Bank Reconciliation Software Market Share by Type: 2021 VS 2028
Figure 2. Global Bank Reconciliation Software Market Share by Application: 2021 VS 2028
Figure 3. Emergency Care Case Studies
Figure 4. Outpatient Facilities Case Studies
Figure 5. Hospitals Case Studies
Figure 6. Home Healthcare Facilities Case Studies
Figure 7. Bank Reconciliation Software Market Report Years Considered
Figure 8. Global Bank Reconciliation Software Market Size YoY Growth 2015-2028 (US$ Million)
Figure 9. Global Bank Reconciliation Software Market Share by Regions: 2021 VS 2028
Figure 10. Global Bank Reconciliation Software Market Share by Regions (2021-2028)
Figure 11. Porter's Five Forces Analysis
Figure 12. Global Bank Reconciliation Software Market Share by Players in 2019
Figure 13. Global Top Bank Reconciliation Software Market Players by Company Type (Tier 1, Tier 2, and Tier 3) (based on the Revenue in Bank Reconciliation Software Market as of 2019
Figure 14. The Top 10 and 5 Players Market Share by Bank Reconciliation Software Market Revenue in 2019
Figure 15. North America Bank Reconciliation Software Market Size YoY Growth (2015-2021) (Million US$)
Figure 16. Europe Bank Reconciliation Software Market Size YoY Growth (2015-2021) (Million US$)
Figure 17. China Bank Reconciliation Software Market Size YoY Growth (2015-2021) (Million US$)
Figure 18. Japan Bank Reconciliation Software Market Size YoY Growth (2015-2021) (Million US$)
Figure 19. Southeast Asia Bank Reconciliation Software Market Size YoY Growth (2015-2021) (Million US$)
Figure 20. India Bank Reconciliation Software Market Size YoY Growth (2015-2021) (Million US$)
Figure 21. Central & South America Bank Reconciliation Software Market Size YoY Growth (2015-2021) (Million US$)
Figure 22. Bottom-up and Top-down Approaches for This Report
Figure 23. Data Triangulation
Figure 24. Key Executives Interviewed
