TECH SUPPLIER Jun 2022 - Market Forecast - Doc # US49194023
Worldwide Financial Applications Forecast, 2022–2026: CFOs Moving Beyond the Numbers
This IDC study discusses the worldwide market for financial applications. The worldwide financial applications market increased in 2021 to reach $37.5 billion, with revenue increasing by 11% over 2020's $33.8 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.
"The role of the CFO continues to change to include more challenges beyond accounting and finance. Environmental, social, and governance (ESG); hybrid working; and talent retention are all moving rapidly into focus for today's CFO. Going forward, software vendors looking to gain market share must enhance/highlight the elements within their solution that support CFOs as their challenges evolve beyond finance and accounting," says Kevin Permenter, research director, Financial Applications at IDC.
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