Global Treasury Software Market Forecast to 2027: Reduced Unnecessary Banking and Foreign Exchange Costs Drives Growth
DUBLIN, May 3, 2023 /PRNewswire/ -- The "Global Treasury Software Market Forecast to 2027" report has been added to ResearchAndMarkets.com's offering.
The global treasury software market was valued at USD 4.5 Billion in 2021 and is slated to reach USD 6.2 Billion by 2027 at a CAGR of 5.48 % from 2022-2027.
Companies Mentioned
ZenTreasury Ltd
Emphasys Software
SS&C Technologies Inc.
CAPIX
Adenza
Coupa Software Inc.
DataLog Finance
FIS
Access Systems (UK) Limited
Treasury Software Corp.
A programmer known as treasury software automates a business's financial processes, including cash flow, assets, and investments. It provides a treasury management system that keeps tabs on a business' capacity to turn assets into cash to meet a financial commitment.
Financial managers and accounts use treasury management software to track liquidity and the capacity to turn assets into cash to meet financial obligations. By automating and streamlining treasury management tasks, the software reduces financial and reputational risks, saves money, and boosts operational effectiveness.
Greater visibility, analytics, and forecasting provided by the treasury management system support the development of organisational financial strategies and enable better decision-making.
Market Drivers
Customer satisfaction has increased as a result of increased visibility into cash and liquidity while gaining control over bank accounts, maintaining compliance, and managing financial transactions.
The treasury management system essentially provides seven core benefits in the organization that can improve capabilities. These include:
Increased productivity
Data availability in real-time and precision.
Errors in manual entry and calculation are reduced.
Reduced unnecessary banking and foreign exchange costs.
Detailed activity tracking
Flexibility in banking and connectivity.
Compliance with regulations and risk reduction.
Market Restraints
Cybercrime and cybersecurity issues increased by 600% in 2020 as a result of COVID-19. Hackers take advantage of flaws in network security to perform unauthorized actions within a system. Purple Sec LLC reports that the number of mobile malware variants increased by 54% in 2018 and that 98% of mobile malware targets different smart Android devices. 25% of businesses are thought to have been impacted by cryptocurrency theft.
Teams of banking and financial management from various companies and industries are among the companies. Businesses and industries have been heavily embracing digitization in recent years. Banking, shopping, travel, and other industries are adopting digital models to improve customer experiences. Customer data and information are generated in massive quantities as a result of digitization.
This raises security concerns, and this data has historically been more vulnerable to cyber-attacks and data breaches. Through this information and data, fraudsters and cyber attackers can easily mimic or steal an individual's identity, which can then be used for a variety of crimes. According to an S&P Global study on the share of global cyber-attack incidents across industries from 2016 to 2021, financial institutions topped the list with 26%, followed by healthcare (11%), software and technology services (7%), and retail (6%).
Market Segmentation
By Operating System
Mac
Windows
Ios
Android
Linux
By Application
Liquidity
Liquidity And Cash Management
Financial Risk Management
Debt Management
Investment Management
Tax Planning
Compliance Management
Others
By Deployment Model
On Premises
Cloud
By Organization Size
Small And Medium-Sized Enterprises (Smes)
Large Enterprises
By Vertical
Banking, Financial Services And Insurance (Bfsi)
Wealth Management
Government
Manufacturing
Healthcare
Consumer Goods
Chemicals
Energy
Others
For more information about this report visit https://www.researchandmarkets.com/r/2u4p2l
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SOURCE Research and Markets
