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TECH SUPPLIER Jun 2018 - Market Share - Doc # US43266118

Worldwide Financial Applications Market Shares, 2017: Analyzing the Shifting Role of the CFO

By: Kevin PermenterResearch Manager, Enterprise Applications, Mickey North RizzaProgram Vice President, Enterprise Applications and Digital Commerce, Jordan JewellResearch Manager, Digital Commerce and Enterprise Applications

Abstract

This IDC study discusses the worldwide market for financial application software. The worldwide financial applications market increased in 2017 to reach $24.4 billion, with revenue increasing by 7.4% over 2016's $22.7 billion. The market for financial applications is being driven by the movement to the cloud for more efficient and effective financial management across the enterprise.

"Today's financial manager is being asked to do more than simply 'close the period.' More and more, financial professionals are being asked to step into the roles of analyst and trusted advisor to the executive teams. This is a major shift and financial software vendors that provide tools to support this shift will find themselves well positioned for future growth," says Kevin Permenter, senior research analyst, Enterprise Applications.


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