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Finance Cloud: Introduction

  • Finance cloud is an integrated platform designed to manage an organization's financial planning on the cloud. The finance cloud platform deals with a wealth management system of company by allowing companies customers to connect with them economically and drive stronger customer relationships.
  • Finance cloud solutions are used by several financial industries. The technology helps to automate manual business procedures and increase information accuracy. It supports finance teams and businesses with an ecosystem of integrated techniques to manage accounts, process payments, handle payroll, create financial reports, and manage budgets.
  • Banking services, insurance, and financial companies are extensively adopting cloud computing services & solutions to quickly address the problems and concerns of clients by looking at long-term benefits and competitive advantage.
finance cloud market size and forecast

Global Finance Cloud Market: Dynamics

Global Finance Cloud Market: Key Drivers

  • Increasing business agility along with the rising demand for customer relationship management (CRM) is estimated to boost the finance cloud market during the forecast period.
  • Increased need for customer management is further projected to boost the market during the forecast period.
  • Finance cloud solutions offer operational efficiency; this is another key factor driving the growth of the market.
  • Increasing trend of deploying many applications via the cloud is anticipated to create opportunities for the finance cloud market.
  • However, safety of intellectual property rights, concern about restrictive compliances, and growing cloud-based cyber threats are anticipated to hamper the market during the forecast period.
  • The threat of cybercrimes, third-party services, and intense rivalry among players is expected to create challenges for the market during the forecast period.
finance cloud market dynamics

Impact of COVID-19 on the Global Finance Cloud Market

  • Increasing cases of COVID-19 across the globe is resulting in economic slowdown and many organizations are shut down due to partial or full lockdown. However, banking, financial services, and insurance are working during the time of the pandemic. Financial firms require advanced technologies to quickly address problems and concerns of clients. Thus, the adoption of finance cloud has increased during the pandemic. Hence, COVID-19 has a positive impact on the finance cloud market.

North America to Hold Major Share of the Global Finance Cloud Market

  • In terms of region, the global finance cloud market can be divided into North America, Europe, Asia Pacific, Middle East & Africa, and South America
  • North America dominated the global finance cloud market with the largest share. A strong economy and a bigger internet penetration rate have shifted isolated infrastructure to cloud in the North American region. Furthermore, low IT management complexity, enhanced agility and security, and reduced CapEx spending are some of the major factors contributing to the growth of the finance cloud market in the North American region.
  • The finance cloud market in Asia Pacific is projected to expand at a rapid pace during the forecast period. This can be attributed to digital transformation, growing adoption of cloud technologies, development of the BFSI sector, and continuous investment in technological advancements.
finance cloud market outlook by region

Global Finance Cloud Market: Competition Landscape

Several local, regional, and global players are active in the finance cloud market with a strong presence. Rapid technological advancements have created significant opportunities in the market. Players in the market are continuously focusing on developing technologically advanced solutions for their customers.

Key Players Operating in the Global Finance Cloud Market Include:

  • Acumatica Inc by EQT
  • Advent International
  • Amazon Web Services
  • AtemisCloud
  • Capgemini SE
  • Cerillion Technologies Limited
  • Cisco Systems, Inc.
  • CloudSigma Holding AG
  • Cox Communications
  • DigitalOcean,LLC
  • DXC Technology
  • Google LLC
  • Huawei Technologies Co., Ltd
  • IBM Corporation
  • Microsoft Corporation
  • NEC Corporation
  • Oracle Corporation
  • RamBase
  • Sage Intacct Inc.
  • Salesforce.Com, Inc.
  • SAP SE
  • SE2
  • VMware
  • Wipro Limited
  • Workday, Inc.

Global Finance Cloud Market: Research Scope

Global Finance Cloud Market, by Type

  • Solution
    • Financial Reporting and Analysis
    • Financial Forecasting
    • Governance, Risk and Compliance
    • Security
    • Others
  • Services
    • Professional Services
    • Managed Services

Global Finance Cloud Market, by Deployment Mode

  • Public Cloud
  • Private Cloud
  • Hybrid Cloud

Global Finance Cloud Market, by Organization Size

  • SMEs
  • Large Enterprise

Global Finance Cloud Market, by Application

  • Wealth Management System
  • Revenue Management
  • Account Management
  • Customer Management
  • Others

Global Finance Cloud Market, by Region

  • North America
    • U.S.
    • Canada
    • Rest of North America
  • Europe
    • Germany
    • France
    • U.K.
    • Italy
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Rest of Asia Pacific
  • Middle East & Africa
    • GCC
    • South Africa
    • Rest of Middle East & Africa
  • South America
    • Brazil
    • Rest of South America

This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.

Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:

  • Customer Experience Maps
  • Insights and Tools based on data-driven research
  • Actionable Results to meet all the business priorities
  • Strategic Frameworks to boost the growth journey

The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.

The following regional segments are covered comprehensively:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.

Below is a snapshot of these quadrants.

1. Customer Experience Map

The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.

2. Insights and Tools

The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.

3. Actionable Results

The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.

4. Strategic Frameworks

The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.

The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:

1. What can be the best investment choices for venturing into new product and service lines?

2. What value propositions should businesses aim at while making new research and development funding?

3. Which regulations will be most helpful for stakeholders to boost their supply chain network?

4. Which regions might see the demand maturing in certain segments in near future?

5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?

6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?

7. Which government regulations might challenge the status of key regional markets?

8. How will the emerging political and economic scenario affect opportunities in key growth areas?

9. What are some of the value-grab opportunities in various segments?

10. What will be the barrier to entry for new players in the market?

Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.

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