What is the Impact of the COVID-19 Crisis on the Disclosure Management Software Market?

Disclosure Management Software Market – Overview

Disclosure management software offers a flexible, collaborative, and compliant process to decrease the time, risk, and cost of regulatory filings and disclosures. Disclosure management software helps users navigate the complexity of the ever-changing regulatory disclosure requirements. It provides users a secure, reporting enterprise-scalable and process automation solution, which enables them to gather data and generate a concentrated narrative analysis in an auditable and controllable environment. Disclosure management solution offers flexibility and enhance speed by combining information from multiple source systems with narrative to construct financial and regulatory statements. Companies are progressively implementing disclosure management applications to understand report assembly, review processes, and control benefits. Disclosure management software helps enterprises deliver high quality, board books, auditable annual reports, and other materials.

Disclosure Management Software Market – Trends and Opportunities

Several enterprises across the globe are implementing disclosure management solutions to assimilate financial data across locations in order to publish financial documents and make better strategic decisions. Disclosure management solutions are expected gain significant traction in the near future due to rising need for managing financial information within organizations. Furthermore, the predictive approach helps enterprises with accurate insights to make informed business decisions and mitigate risks. There has been a growing focus of enterprises on enhancing customer services, while fulfilling industry regulations. Key factors expected to drive the growth of the disclosure management market include rising expansion of enterprises across the globe and the need for solutions to integrate financial data across locations to issue financial documents and make better strategic decisions. However, increase in safety concerns related to cloud-based disclosure management software and lack of awareness regarding the implementation of the software are expected to limit the growth of the global market in the next few years. Furthermore, availability of large number of free open source disclosure management software is anticipated to restrain the market. Nevertheless, the integration of disclosure management software with ERP and other consolidated tools is estimated to offer prominent growth opportunities to the market during the forecast period.

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Disclosure Management Software Market – Segmentation

The global disclosure management software market can be segmented based on component, enterprise size, deployment, application, end-user industry, and region. Based on component, the market can be divided into software and services. In terms of deployment, the disclosure management software market can be categorized into cloud-based and on-premise. The cloud-based segment is expected to expand significantly due to increase in adoption of cloud technology. Cloud-based software decreases the effort and time required to update and integrate new services offered by the software. Based on application, the disclosure management software market can be divided into finance, marketing & communication, compliance, legal, procurement, and human resource. In terms of enterprise size, the disclosure management software market can be bifurcated into small & medium enterprises and large enterprises. Based on end-user industry, the disclosure management software market can be classified into retail, BFSI (banking, financial services, and insurance), health care, IT & telecom, government, construction, travel & hospitality, media & entertainment, and others. In terms of region, the global disclosure management software market can be divided into North America, Europe, Asia Pacific, Middle East & Africa, and South America. North America is anticipated to dominate the market as the region is significantly receptive toward adoption of latest technologies.

Disclosure Management Software Market – Key Players

A large number of players is venturing into the disclosure management software market. Key players operating in the market include SAP SE, Oracle Corporation, Certent, IRIS Business Services, Workiva, CoreFiling, DataTracks, LucaNet, OCR Services, Tagetik Software, Workiva, Synthesis Technology, Anaqua, Trintech, and Lecorpio. They adopt various growth strategies, such as, mergers & acquisitions, R&D, partnerships, product innovation, etc. to remain competitive in the market. For instance, in July 2017, Certent announced the acquisition of several IBM products, such as, IBM Cognos Disclosure Management and IBM Cognos Disclosure Management on Cloud.

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