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2021
Credit Management Software Market

Credit Management Software Market by Deployment (On-Premise and Cloud), Industry Vertical (BFSI, Health Care, Retail, IT & Telecommunication, Government, and Others) and Enterprise Size (Large Enterprise and Small & Medium Enterprises): Global Opportunity Analysis and Industry Forecast, 2021–2030

A12972
Pages: NA
Oct 2021 | 178 Views
   
Author(s) : Vineet Kumar
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COVID-19

Pandemic disrupted the entire world and affected many industries.

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Credit Management Software Market Outlook - 2030

Credit management software automates and prioritizes the credit management process. Simultaneously, it aids in the completion of a variety of day-to-day tasks performed by credit management department team members as well as for the storage of critical information. It also aids in the management of cash flow in businesses as well as the keeping of accurate invoice records. Moreover, credit management software can be integrated throughout an organization or can be used as a component of other software. Therefore, there is surge in demand for credit management software as companies from various industries are now using the software, which is expected to boost the growth of the credit management software market during the coming years.

The global credit management software market is segmented on the basis of deployment, industry vertical, enterprise size, region, industry vertical and region. Based on deployment model, the market is divided into on-premise, cloud. In terms of industry vertical, the market is categorized into BFSI, health care, retail, IT & telecommunication, government, others. On the basis of enterprise size, the market is divided into Large Enterprise, Small & Medium Enterprises. Geographically, the credit management software market is analyzed across several regions such as North America, Europe, Asia-Pacific, and Latin America, Middle East & Africa (LAMEA).

Key players operating in the global credit management software industry include CreditDevice, Rimilia Holdings Ltd, Finastra, HighRadius Corporation, Equinity Group Plc, Esker SA, Onguard BV, Credica Ltd, Cforia Software Inc. and Serrala Group GmbH.

These companies have adopted several strategies such as product launches, partnerships, collaborations, mergers & acquisitions, and joint ventures to strengthen their foothold in the global credit management software market.

Market Scope and Structure Analysis:

Report Metric

Details

 Market Size Available for Years

 2020–2030

 Base Year Considered

 2020

 Forecast Period

 2021–2030

 Forecast Unit

 Value ($)

 Segments Covered

Deployment, Industry Vertical, Enterprise Size, and Region

 Regions Covered

North America (U.S., Canada and Mexico), Europe (Germany, UK, France, Italy and the Rest of Europe), Asia-Pacific (China, Japan, India, South Korea and the Rest of Asia-Pacific), and LAMEA (Latin America, Middle East and Africa)

 

 Companies Covered

CreditDevice, Rimilia Holdings Ltd, Finastra, HighRadius Corporation, Equinity Group Plc, Esker SA, Onguard BV, Credica Ltd, Cforia Software Inc. and Serrala Group GmbH

 

COVID-19 Scenario Analysis

  • During the COVID-19 outbreak, a majority of companies have witnessed a devastating decline in the market, however, the credit management software industry had a positive impact, as governments declared lockdowns in the affected countries, which, in turn, enforced consumers to adopt online payment.
  • The credit management software market is expected to grow significantly during COVID-19 crisis due to increased adoption of technology. This is attributed to the global fear of virus and to avoid any physical contact with individuals, which help in preventing the transmission of COVID-19.

Top Impacting Factors: Market Scenario Analysis, Trends, Drivers, and Impact Analysis

Increased awareness regarding automation & dedicated software and increasing international trade are driving the growth of the market. In addition, rise in usage of credit management software in various domains helps to propel the growth of the credit management software market. However, opposing regulations and business protocol as well as simple barriers such as language and currency are increasing the time and operating costs associated with a trade. This, in turn, is expected to hamper the growth of the market. Contrarily, increasing adoption of the credit management software in organizations is further anticipated to provide several growth opportunities for the key players in the coming years.

The Global Credit Management Solution Market Trends are as Follows:

Increased Awareness Regarding Automation & Dedicated Software

Credit management software can be designed according to the company's specific financial and operational requirements. It can help a company assess how much credit to extend to a customer. Customer databases are also created by these systems. The organizations can pull customer records at any time to check payment histories, payment trends, and any other data. Credit accounts can be automatically adjusted to benefit the company and reduce the risk of a slow-paying customer if any concerns are raised. Many systems have an online or cloud-based interface, making them simple and straightforward to use. Moreover, some even allow to access data while one is not connected to the internet. Therefore, awareness about the benefits of credit management software is expected to boost the growth of the market during the forecast period.

Increasing International Trade

Credit management software has been designed to prioritize and streamline credit management workflows, as the industry's demand for automation has grown over the period. As credit management software enables businesses to get paid faster and gain time to improve customer service and communication, it is beneficial to them. The software also stores critical data and performs/prepares a variety of day-to-day tasks that the credit management team is supposed to complete. Moreover, the ability of credit management software to improve liquidity & empower businesses to manage their cash flow better is a major factor driving the credit management software market growth during the forecast period.

Key Segments Covered

Segment

Sub Segment

 Deployment Model

  • On-Premise
  • Cloud

 Industry Vertical

  • BFSI
  • Health Care
  • Retail
  • IT & Telecommunication
  • Government
  • Others

 Enterprise Size

  • Large Enterprise
  • Small & Medium Enterprises


Key Benefits of the Report

  • This study presents analytical depiction of the global credit management software market trends along with the current trends and future estimations to determine the imminent investment pockets.  
  • The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the market share.      
  • The current market is quantitatively analyzed from 2021 to 2030 to highlight the global credit management software market growth scenario.                           
  • Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.  
  • The report provides a detailed market analysis depending on the present and future competitive intensity of the credit management software market analysis.

Questions Answered in the Credit Management Software Market Research Report        

  • Which are the leading players active in the global credit management software market size?
  • What would be the detailed impact of COVID-19 on the global credit management software market share?
  • What are current trends that would influence the market in the next few years?
  • What are the driving factors, restraints, and opportunities of the global credit management software market?
  • What are the projections for the future that would help in taking further strategic steps?
 
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