This study examines the online accounting application market in Europe through an analysis of leading local vendors. IDC benchmarks the vendors with respect to 2011 revenues and 2011 growth rate, and profiles each vendor individually. IDC also provides actionable advice for vendors and end users regarding online accounting.
"The $4.9 billion European market for accounting applications is very mature, but a silent revolution is taking place as small businesses and their certified public accountants in Europe are adopting online accounting solutions," said Bo Lykkegaard, research director, European Enterprise Applications, IDC. "Although online accounting in 2011 only made up just about 1.5% of the huge accounting software market, online accounting vendors are experiencing high, double-digit and sometimes triple-digit growth rates, and new entrants are appearing constantly. And more importantly, these new offerings are redefining how public accountants work in the future as entry-level bookkeeping and yearend statement creation for micro businesses will increasingly be commoditized."
Online Accounting in Europe — A Revolution in the Entry-Level Segment
March 15, 2012
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