Global Audit Management Software Market 2019-2023
About this market
The rise in adoption of audit management software is one of the key factors expected to trigger market growth during the forecast period. The growing adoption of audit management software is further attributed to the increasing importance of auditing in organizations working with regulations and standards. In addition, audit management software further delivers other advantages including performance improvement and efficiency enhancement. Technavio’s analysts have predicted that the audit management software market will register a CAGR of almost 12% by 2023.
The rise in adoption of audit management software
Audit management software helps maintain the accuracy of the data captured during an auditing process. The software also helps organizations maintain compliance with the auditing regulations of their respective countries. Owing to these benefits, the adoption of audit management software is expected to increase, which will drive the growth of the market.
Data security concerns
The use of audit management software can increase the vulnerability of confidential information to data thefts as the software handles the sensitive financial data of an organization. Thus, data security concerns are expected to limit the growth of the market during the forecast period.
For the detailed list of factors that will drive and challenge the growth of the audit management software market during 2019-2023, view our report.
The market appears to be fragmented and with the presence of several market players. The vendors in the market are integrating audit management software with various cognitive technology-based solutions such as AI for streamlining and standardizing the audit process. This market research report will help clients identify new growth opportunities and design unique growth strategies by providing a comprehensive analysis of the market’s competitive landscape and offering information on the products offered by companies.
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