Worldwide Financial Applications Market Shares, 2021: Addressing the Challenges of the Digital-First World CFO

Worldwide Financial Applications Market Shares, 2021: Addressing the Challenges of the Digital-First World CFO

This IDC study examines the market for financial applications, which is expected to see solid growth, in part because of the sharper focus on financial applications — a prominent side effect from the COVID-19 pandemic for many businesses. In many ways, the crisis has accelerated the adoption of cloud financial applications relative to on-premises and private cloud deployments."The office of the CFO has been engaging in digital transformation relatively slowly compared with front-office areas like customer relationship management and sales management. The rise of robust cloud solutions and the advent of intelligence financial applications have tipped the scales. Businesses are rapidly seeking and deploying modern, cloud-based applications to support the office of the CFO," says Kevin Permenter, research director, Financial Applications at IDC.

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