According to the latest report by Report Ocean, titled “U.S. Retail Recon Software Market : Global Trends, Share, Size, Growth, Opportunity and Forecast 2023-2031” provides an extensive analysis of the industry, including “U.S. Retail Recon Software Market “, share, trends, and growth opportunities. The report also covers competitor and regional analysis and the latest advancements in the global market. The report is organized into five force analysis frameworks: SWOT, PESTEL, and Porter. This organization ensures qualified and verifiable aspects of market data operating in real-time scenarios.
Reconciliation(recon) is a process of comparing internal financial records against monthly statements from external sources such as financial institutions, banks, and credit card companies. Reconciliation software enables retail companies to reconcile bank account transactions from their general ledger control account with ERP data that has hit their bank account. Furthermore, it helps retail companies to detect financial companies and enhances the overall control and visibility of the company. In addition, substantial saving for the U.S. retailers with high volume bank reconciliation needs fuels the growth of the market.
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However, various security issues in reconciliation software hampers the growth of the market. Furthermore, higher adoption of recon software among the SMRs and rise in usage of machine learning and artificial intelligence in recon software are the factors expected to provide lucrative opportunities for the growth of the market.
“Russia-Ukraine Impact in 2022: The market faced adverse consequences as a result of economic sanctions imposed on the Russian Federation by the United States and its allied nations.
The economic sanctions levied on the Russian Federation by the US and its partners are foreseen to exert a significant influence on the industry’s growth. Furthermore, the global business landscape experienced disruptions in import and export activities due to the conflict. The dominance of Russia and Roscommon, a semi-private space agency, within the commercial space sector had detrimental effects on alternative launch service providers in regions such as India, Japan, Europe, and the United States. These factors collectively had an adverse impact on the market during the period of conflict.”
Who is the largest key players of U.S. Retail Recon Software Market Worldwide ?
– AutoRek
– Baldwin Hackett & Meeks, Inc.
– Blackline, Inc.
– Broadridge Financial Solutions, Inc.
– Cashbook
– Fiserv, Inc.
– Oracle Corporation
– ReconArt, Inc.
– SAP SE
– SigmaIQ.
In addition, recon software also helps retail companies in reducing the human errors made in an accounting ledger and improves the stability in accounting process. Moreover, rise in adoption of cloud-based recon software in retail industry is expected to provide a lucrative opportunity for the market.
Increase in online transactions in the retail industry and rise in need for reconciliation management system drive the growth of the market.
The U.S. retail recon software market is segmented into component, software type, deployment mode, retailer size, and reconciliation type. In terms of component, it is bifurcated into software and services. As per software type, it is divided into transaction matching, consolidation, reporting & analytics, variance analysis, task management and others. By deployment model, it is segmented into on-premise and cloud. In terms of retailer size, it is segmented into large retailers and small & medium retailers. As per reconciliation type, it is divided into account reconciliation, bank reconciliation, payment reconciliation, and others. By region, it is analyzed across the U.S.
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Key Benefits for Stakeholders
– The study provides an in-depth analysis of the U.S. retail recon software market forecast along with the current & future trends to elucidate the imminent investment pockets.
– Information about key drivers, restraints, and opportunities and their impact analysis on the U.S. retail recon software market size is provided in the report.
– Porter’s five forces analysis illustrates the potency of the buyers and suppliers operating in the industry.
– The quantitative analysis of the market for the period 2019-2027 is provided to determine the market potential.
Key Market Segments:
By Component
– Software
– Service
By Software Type
– Transaction Matching
– Consolidation
– Reporting & Analytics
– Variance Analysis
– Task Management
– Others
By Deployment Model
– On-Premise
– Cloud
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By Retailer Size
– Large Retailers
– Small & Medium Retailer (SMRs)
By Reconciliation Type
– Account Reconciliation
– Bank Reconciliation
– Payment Reconciliation
– Others
Table of Contents:
- Introduction and Scope
- Definition and Forecast Parameters
- Methodology and Forecast Parameters
- Information Sources
- Latest Trends Summary
- Regional Trends
- Product Trends
- End-Use Trends
- Business Trends
- Industry Insights
- Industry Fragmentation
- Industry Landscape
- Vendor Matrix
- Technological and Innovative Landscape
- Market by Region
- North America
- Latin America
- Europe
- Asia Pacific
- Middle East and Africa
- Company Profiles
- Company Overview
- Financial Elements
- Product Landscape
- SWOT Analysis
- Systematic Outlook
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Report Include:
- Market Behavior/ Level of Risk and Opportunity
- End Industry Behavior/ Opportunity Assessment
- Expected Industry Recovery Timeline
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Research Methodology:
Based on the information you provided, it seems that the research methodology for the report from Report Ocean involved both primary and secondary research.
In the primary research, the authors conducted interviews with important sources of supply and demand, such as prominent industry participants, subject matter experts from key corporations, and consultants from significant firms and organizations operating in the global market. This primary research helped gather both qualitative and quantitative data relevant to the market report.
In the secondary research, the authors focused on using various viewpoints, such as the lowest point, regional area, and technology-oriented perspectives, to gather vital information about the business supply chain, the firm currency system, global corporate pools, and sector segmentation. The market size as a whole was determined through secondary research, and the results were then corroborated by the initial survey conducted in the primary research phase.
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