NEW YORK, June 2, 2023 /PRNewswire/ — The Treasury and Risk Management Software is segmented by type (treasury, investment management, and risk and compliance), deployment (on-premises and cloud-based), and geography (North America, Europe, APAC, South America, and Middle East and Africa).
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Regional Market Outlook
During the forecast period, North America is anticipated to contribute 31% to the growth of the global market. In terms of revenue share, North America dominated the world market for treasury and risk management software. This is caused by the existence of numerous businesses from the BFSI, IT, healthcare, and other sectors. Additionally, a number of IT firms provided the option for employees to work from home, and over time they began choosing cloud-based treasury and risk management software to manage treasury-related tasks and use the software for risk assessment through their remote workforce starting in H1 2020. During the forecast period, the regional market is anticipated to grow as a result of the rising adoption of cloud-based treasury and risk management software.
View the sample report for more key highlights on the regional market share of most of the above-mentioned countries.
Global Market Outlook
The Treasury and Risk Management Software market size is expected to increase by USD 1,838.32 million from 2022 to 2027, expediting at a CAGR of 6.35% during the forecast period. The market is having a positive impact on the global application software market as a result of factors like the rising use of data and analytics tools in businesses, rising SME investment, and the rising use of cloud- and subscription-based software. On the other hand, factors like the accessibility of open-source software, data security worries, and problems with data integration are having a detrimental effect on growth. The combined effect of these factors will cause the global market for application software to grow moderately.
Some of the global application software market can be broadly classified into the following segments:
- Commerce applications
- Customer relationship management (CRM) applications
- Enterprise resource planning applications
- Financial applications
- Human resource and payroll applications
Latest Drivers and Challenges Impacting the Treasury and Risk Management Software market
Treasury and Risk Management Software Market Drivers
- Demand for regulatory compliance: Treasury and risk management software adoption is anticipated to rise as a result of stringent government regulations, the need for efficient risk management, and the need to reduce the costs and risks of non-compliance. Large organizations with a global presence must adhere to both domestic and international laws in each country where they operate. Organizations are required to abide by regulatory requirements to manage and audit financial data by the appropriate governing bodies.
- Benefits associated with treasury and risk management software
- Demand for regulatory compliance
Treasury and Risk Management Software Market Challenges
- Data security and cybersecurity concerns: Data center cyberattack reports have sparked worries about privacy. This is due to the possibility of unauthorized users disseminating, erasing, or corrupting data due to a lack of control over information. When working with banks, insurance companies, and corporations, treasurers exercise caution when disclosing financial and business-critical information to outside service providers. Organizations find it challenging to approve cloud-based technologies for processing sensitive financial information involving strategic decisions due to these worries. Because of this, worries about data security and the increase in cyber threats may have a negative effect on the development of the global market for treasury and risk management software.
- Threat from open-source treasury and risk management software
- Issues associated with system integration
Explore the evolving Vendor Landscape
Some of the Treasury and Risk Management Software market vendors are:
- Bottomline Technologies Inc.
- CAPIX Treasury Software
- Coupa Software Inc.
- DataLog Finance
- Eurobase Systems Ltd.
- Fidelity National Information Services Inc.
- Financial Sciences Corp.
- Finastra
- GTreasury
- Infosys Ltd.
- ION.
- Kyriba Corp.
- Murex SAS
- Oracle Corp.
- Salmon Software Ltd.
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