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Financial Automation Market Share

Report ID: GMI11204
Published Date: Sep 2024
Report Format: PDF

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Financial Automation Market Share

Oracle and Blue Prism Ltd. are the prominent players in the market holding approximately 11% of the market share. Oracle Fusion Cloud Financials provides a comprehensive suite of financial management applications designed to automate and streamline financial processes. The suite includes modules for general ledger, accounts payable, accounts receivable, fixed assets, and financial reporting. Key features include automated workflows, real-time financial data visibility, and integrated analytics. This cloud-based solution supports global financial operations, ensures regulatory compliance, and offers tools for budgeting, forecasting, and financial close processes, making it an essential asset for modern financial management.

Blue Prism's Digital Workforce platform leverages Robotic Process Automation (RPA) to automate repetitive and rule-based financial tasks. It automates processes such as invoice processing, financial reconciliation, and report generation. By utilizing software robots, the platform handles high-volume transactions, reduces manual errors, and enhances efficiency in financial operations, thereby significantly improving operational productivity.

Financial Automation Market Companies

Major players operating in the financial automation industry are:

UiPath
IBM
Oracle
Nice Automation
Workday, Inc.
SAP SE
Blue Prism Ltd.

Authors: Preeti Wadhwani, Aishvarya Ambekar

Frequently Asked Questions (FAQ) :

The market size of financial automation reached USD 6.6 billion in 2023 and is set to register over 14.2% CAGR between 2024 and 2032, due to rising need to address challenges by integrating diverse financial systems and streamlining multi-currency transactions.

The cloud-based deployment model segment is expected to exceed USD 12.8 billion by 2032, as they significantly reduce the need for large upfront investments in hardware and software.

North America market held over 41% share in 2023, led by significant investments in automation to enhance efficiency and accuracy in financial operations.

UiPath, IBM, Oracle, Nice Automation, Workday, Inc., SAP SE, and Blue Prism Ltd.