Global Cash Flow Management Software Market Size By Product (Cloud-based and On-Premise), By Application (Large Enterprise and SMEs), By Geographic Scope And Forecast
Global Cash Flow Management Software Market Size By Product (Cloud-based and On-Premise), By Application (Large Enterprise and SMEs), By Geographic Scope And Forecast
Published Date: August - 2024 | Publisher: MIR | No of Pages: 320 | Industry: latest updates trending Report | Format: Report available in PDF / Excel Format
Cash Flow Management Software Market Size And Forecast
Cash Flow Management Software Market size was valued at USD 3.99 Billion in 2024 and is projected to reach USD 9.65 Billion by 2031, growing at a CAGR of 16.34% from 2024 to 2031.
The increasing demand from financial and accounting departments within large enterprises and SMEs to manage the inflow and outflow of funds is driving the growth of the Global Cash Flow Management Software Market. The Global Cash Flow Management Software Market report provides a holistic evaluation of the market. The report offers a comprehensive analysis of key segments, trends, drivers, restraints, competitive landscape, and factors that are playing a substantial role in the market.
Global Cash Flow Management Software Market Definition
So, basically, cash flow management is how a business keeps track of its money – what's coming in and what's going out. The big idea is to always have more money flowing in than flowing out, which leaves you with extra cash. And it's not just about having extra; it's about putting that extra cash to good use, like smart investments, so your money makes more money. That way, you can get a decent prediction on where you'll stand financially and know how much you will have access to in the coming months. Plus, it helps you figure out how much cash you'll need to cover expenses, like paying your employees and suppliers. Really, it's all about avoiding a cash crunch and keeping the business afloat!
A business’s internal cash flow is maintained through cash flow management software. Cash flow management software is used by businesses to manage positive cash flow and forecast future cash flow based on past transactions and historical financial or operational data. Other accounting and finance software that compares to cash flow management, such as budgeting and forecasting software and bill management software, are typically used after cash flow management software in terms of frequency of implementation by financial and accounting departments within a company
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Global Cash Flow Management Software Market Overview
Let's be honest, for big companies and even smaller businesses, keeping a close eye on money coming in and going out is a must. That's the big reason why the market for cash flow management software is booming. Plus, everyone's looking for those automated, cloud-based solutions for their accounting and finance teams, which is only adding fuel to the fire. The cool thing is you can easily connect this software to your ERP systems, those systems that already help manage money and payments across your entire network. On top of that, cash flow management software makes you way more productive, helps you predict the future (sort of!), optimizes your cash flow, and gives you better security and control over your data and cash. All of this is expected to really ramp up the global market for this kind of software.
Okay, so cash flow management software is great and all, but there are some bumps in the road holding back the whole market. Like, with cyberattacks and data theft on the rise, that's a major concern. But hey, it's not all doom and gloom! We're seeing artificial intelligence (AI) and machine learning (ML) really take off in the financial world, and that's creating some awesome opportunities. Think about itwith AI and ML, businesses can finally get super accurate and reliable cash flow predictions. Plus, these AI and ML tools play nice with existing accounting and enterprise resource planning (ERP) systems, which is why businesses are jumping on board so quickly. You can learn more here.
Global Cash Flow Management Software Market Segmentation Analysis
The Global Cash Flow Management Software Market is segmented on the basis of Product, Application, And Geography.
Cash Flow Management Software Market, By Product
• Cloud-based• On-premises
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When we look at the type of product, the Cash Flow Management Software Market breaks down into two main categoriesCloud-based and On-Premise. And guess what? Cloud-based solutions totally dominated in 2021, grabbing a whopping 81.54% of the market! Think about it – cloud apps are basically software you use over the internet, so the server handles a lot of the heavy lifting. If developers do their job right with cloud-native strategies, you get apps that feel super smooth, no matter where you are. Ideally, a cloud app should feel just as good as something you install on your computer, but without sucking up all your resources. Plus, you get easy updates and can jump between devices without a hitch! These new cloud apps can even become major moneymakers, shaking things up in markets and completely changing how businesses work.
Cash Flow Management Software Market, By Application
• Large Enterprises• SMEs
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When we look at how Cash Flow Management Software is used, we can split the market into two main groupsLarge Enterprises and SMEs (Small and Medium-sized Enterprises). In 2021, the big guys, Large Enterprises, grabbed the biggest slice of the pie, holding 66.89% of the market. These Large Enterprises? They're a mixed bag, everything from a single person running the show to massive corporations with employees all over the globe. We usually categorize organizations by size – think small shops, tiny micro-businesses, big factories, government-run companies, and those huge multinational corporations. One key difference between SMEs and those Large Enterprises is simply how many people they employ. That employee count is a pretty good way to tell them apart.
Large enterprises typically consist of over a thousand employees and generally have a wider scope of company locations. These kinds of enterprises have a large corporate network and several network revenue streams. As large enterprises continue to invest in sophisticated enterprise IT systems, they are likely to account for a major market share.
Cash Flow Management Software Market, By Geography
• North America• Europe• Asia Pacific• Latin America• Middle East & Africa
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So, when we look at the Global Cash Flow Management Software Market, it's broken down geographically into places like North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. Interestingly, North America held the biggest piece of the pie in 2021, snagging about 42.88% of the market. Why? Well, it seems to be a perfect storm of things like more businesses popping up, a wave of new start-ups, readily available internet access, and people generally moving towards digital media. Specifically, in places like the U.S., Canada, and Mexico, start-up culture is really taking off. The U.S., in particular, is a start-up powerhouse, boasting around 63,703 ventures in 2020 – almost three times as many as the rest of the world combined! And you can thank the booming e-commerce sector, valued at a cool USD 538 billion in 2020 with a growth of nearly 30%, for fueling that fire. Plus, when you dig into Start-up business statistics, you'll find that California, New York, and New Jersey are hotbeds for immigrant-founded companies, making up a whopping 40% of all new start-ups there.
Key Players
The Global Cash Flow Management Software Market is highly fragmented with the presence of a large number of players. Some of the major companies include HighRadius Corporation, Scoro, Cashbook, ABM Cloud (ABM Cashflow), FLUIDLY LIMITED, The Float Yard Ltd, Pulse, Apruve, CashAnalytics, Cashforce, Cash Flow Mojo, COMMITLY, CashControl, PlanGuru, Caflou, Dryrun, and others.
Key Developments
• In March 2021, Scoro raises $16 million to boost work management platform.
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