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European Financial Applications Market Shares, 2023: Cloud Continues to Build Momentum

Publisher IDC
Published Dec 03, 2024
Length 14 Pages
SKU # IDC19406799

Description

European Financial Applications Market Shares, 2023: Cloud Continues to Build Momentum


This IDC study provides sizing and vendor market shares of the Western Europe (WE) and Central and Eastern Europe (CEE) financial applications market for 2021-2023. This is an update to the previous report in which IDC examined the two markets as a combined European market. The study segments the market by function, deployment model (PCS and on premises), and region. It includes the respective top 5 tables, showing growth and relevant market share. "The European financial applications market is still going strong in 2023, with 10.2% year-on-year growth, fractionally surpassing its performance from the previous year. The market is continually evolving, as organizations embrace new innovative digital technologies and cloud-based solutions and finance departments across the globe are progressively moving away from a state of reactivity. In fact 40% of EMEA finance leaders indicate that they are 'improving proactively and identify new areas for improvement, secure funding and implement change' according to the IDC EMEA Enterprise Applications Survey, 2024. Digital transformation is a catalyst for helping organizations unlock new business opportunities aided by data decentralization and data visibility. Modern day finance leaders are leveraging the availability of financial and non-financial data to make data-driven decisions to better support corporate strategies." — Research Manager Charles Aladesuru, IDC European Enterprise Applications

Table of Contents

14 Pages

IDC Market Share Figure

Executive Summary

Advice for Technology Suppliers

Introduce Artificial Intelligence Strategically

Incorporate Additional Compliance Capabilities

Improve Financial Data Analysis Through Data Visualization

Prioritize Carbon Accounting Investment

Market Share

Who Shaped the Year

SAP Cloud Revenue Soars

Intuit Shines: Records 54% Year-on-Year Growth

Sage Launches Intacct in Continental Europe

Microsoft Enters Top 5

Visma Reaches $1 Billion Status

Market Context

Significant Market Developments

Mergers and Acquisitions

Thomson Reuters' Acquired Pagero

Dedagroup Sold Piteco to Zucchetti

The Push for the Technologist CFO

GenAI Has a Definitive Future in Finance

Methodology

Market Definition

Financial Applications

Financial and Accounting

Accounts Payable

Accounts Receivable

Treasury and Risk Management

Travel and Expense Management

Corporate Tax Management

Related Research

Pricing

Currency Rates
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