Torrance, California, USA -As per MarkWide Research’s latest study, Treasury Management Market size is projected to advance at a CAGR of 5.82% during the forecast time of 2022-203
A treasury management software application is a program a company can use in order to automate financial activities such as cash flow, asset management, and investments.
A treasury management system provides a tool that is able to track the ability of a business to convert assets into cash so that they can meet their financial obligations by converting them into cash.
In order to keep track of liquidity, or the ability to convert assets into cash in order to meet financial obligations, treasury management software is used by financial managers and accounts departments.
A treasury management software system automates, streamlines, and enhances treasury management functions, resulting in reduced financial and reputational risks, cost savings, as well as improved operational efficiency and effectiveness.
With better visibility, analytics, and forecasting that TMS can provide, organizations are able to make more informed decisions and develop better financial strategies to meet their goals.
REPORT BENEFITS
This report provides a detailed analysis of the Treasury Software Market in terms of market share, new developments, and product pipeline analysis, the impact of domestic and localized market players, and opportunities for revenue pockets that are emerging, changes in market regulations, product approvals, strategic decisions, product launches, geographic expansions, and technological advances.
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MARKET DRIVING FACTORS
- Among the major factors driving the market in terms of cloud-based treasury management solutions is the increasing adoption of these solutions.
- Key factors driving the market for Treasury management solutions are the expanding operations of businesses and the growing demand by organizations for effective solutions for managing their treasury.
- As business automation processes are becoming more popular and advanced technology is being rapidly integrated into banking and investment-related activities, the market is expected to see significant growth during the forecast period.
- Regulatory measures aimed at ensuring financial transparency and facilitating companies’ capital market transactions are likely to further fuel the market in the future.
- It is expected that the market will continue to grow in the future due to the fact that cloud computing platforms have been adopted at a rapid rate. This is largely due to the ability to better manage business data and the ease of access to the platforms.
- Among the major restraining factors, which can hinder the growth of the market are the issues regarding privacy rights and security, cyberattacks, and high maintenance costs of the software.
- There is an opportunity for market expansion based on technological advancements for the development of innovative financial management software and services as well as increasing organizations’ spending on upgrading their services in the future.
MARKET RESTRAINING FACTORS
- There is a lack of awareness among consumers regarding the benefits of Treasury software, which can prove to be a challenge, on the other hand, the penetration of advanced analytics solutions in the banking industry can prove to be an opportunity.
- There is an increase in cyber-attacks and data breaches as a result of the restraint.
- The second restraining factor is the impact that COVID-19 has had on the raw material supply chain, which has made it difficult to meet the requirements.
Analysis of the COVID-19 scenario
Due to the sudden outbreak of the pandemic, a number of factories and technical units are operating on a limited basis. There are a few of them who have even decided to stop production and temporarily close their units. In the technology industry, this is one of the reasons why there is a shortage of materials and the delay in shipping is making it more difficult as well.
Around the world, many countries have imposed a lockdown as a precautionary measure to stop the spread of the pandemic, and have banned public gatherings and social events as a precaution. Furthermore, travel was prohibited, which led to the cancellation of the events as a result. Technology giants have also been forced to cancel their events around the globe due to the sudden cancellation of events in the software development service industry.
Increasingly online conferences are taking place around the world, which in turn has led to a rise in digital communication through industry IT solutions. Businesses, colleges, institutions, and schools are all shutting down and switching to online mode.
There is a disruption in the supply chains of the largest tech companies, as a result of which they are losing their respective profits as a result. Online meetings and conferences are becoming increasingly popular among B2B companies. As a result, custom software development companies are also experiencing an increase in revenue as a result of this. Due to the fact that online video conferencing services have become more and more popular, they are generating a great deal of income.
There is a decline in the market and the outbreak of the disease has affected the emotional wellbeing of the people. Besides being afraid of getting infected, people are also afraid of losing their jobs in the event that they are infected. There is a large number of people who work from home, and this lack of certainty does not give them peace of mind. In order to cut the cost, the companies now must switch from the development of native apps to the development of progressive web apps in order to cut down on costs.
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Treasury Management Market Major Players Covered:
- OPEC
- Nextage
- Cash Management Solutions
- Sopra Banking
- National Cash Management Systems (NCMS)
- Giesecke & Devrient GmbH
- AURIONPRO
- Kyriba Corporation
- NTT DATA EMEA Ltd.
- Glory Global Solutions
- Oracle
- Finastra
- Salmon Software Limited
- ACI Worldwide
- GTreasury
- Broadridge Financial Solutions
- ALVARA Cash Management Group AG
- BankSene
- Gresham Technologies
- Path Solutions
- Taulia
- Intimus
- SAP
- IBSFINtech
- Others
Treasury Management Market Segmentation Analysis:
By Type:
- Local Systems
- Cloud-Hosted Systems
- Others
By Application:
- Large Enterprises
- SMEs
- Government
- Others
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