Top Accounting Software Vendors
The top accounting software vendors are ranked by the IDC in a new report. The rankings are based on worldwide revenue generated, and the report found that for 2010 the top three accounting software providers were SAP, Oracle and Sage.
These big three accounted for 30% of the market total. The report also noted that worldwide revenues for accounting software vendors increased year on year in 2010 by almost 5%. This growth was attributed to pent up demand following the 2008 global recession. The top companies have focused on improving their transactional financial management offerings as well as their business intelligence applications. These two markets are growing at above average rates of around 9%, but the overall accounting software market growth was restrained by regulatory concerns related to SaaS model migration.