Reconciliations Market Update 2016
Reconciliation spend globally is expected to continue to grow over the next few years, with an annual growth rate of around 3.77% according to the CEB TowerGroup Reconciliations Market Update 2016. The growth rate varies depending on region but in the US alone $74.3 million is estimated to be spend in 2015.
This growth has been seen partly due to the fact that Reconciliation is no longer considered to be simple back office cash and position matching, firms are now seeing the benefits of automated reconciliations across a range of business needs.
Firms are moving away from point solutions are realising the value of investing in best in class reconciliations systems, with "Risk Reduction" still being one of the leading value drivers, but "Process Improvement" and "Complying with Regulation" also of increasing importance.
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- Key Reconciliations Market Trends
- Emerging Technology Landscape
- IT spending forecast