SAMPLE

ACCOUNTING SOFTWARE MARKET

(2021-2026)
The study offers:
• A detailed understanding of the current market dynamics and growth opportunities
• An overview of the impact of rapid technological advancement in digital commerce fueling the
demand for accounting software solutions across the emerging markets
• An overview of the competitive intelligence, with product innovations and strategies of major players
• Assessment of COVID-19 impact on the industry

Domain: ICT Base Year: 2020 Forecast Period: 2021-2026

Industry Reports | Consulting | Intelligence Center

+1 617 765 2493 | info@mordorintelligence.com | www.mordorintelligence.com
1 SAMPLE – GLOBAL ACCOUNTING SOFTWARE MARKET
 DISCLAIMER

Any information and/or material provided by Mordor Intelligence, including any and all the analysis and/or research from Mordor Intelligence, is
provided to a selected group of customers, in response to orders for such information, material, analysis, and/or research. As a customer of
Mordor Intelligence, you acknowledge that our information, material, and/or services are for your internal use only, and not for any external use
and/or dissemination, or general publication, and/or disclosure to any third parties.

Any and all of the information and/or material provided by Mordor Intelligence are based on primary interviews and/or secondary research, and
are therefore, subject to fluctuation and variance. Mordor Intelligence takes no responsibility for any incorrect information and/or material
supplied to us by sources we rely on, and no part of our analysis or research may be given, lent, resold, or disclosed to any third parties,
including non-customers, without explicit or written permission from Mordor Intelligence.

Unauthorized reproduction and/or transmission of our information, material, analysis, and/or research in any form and by any means, including
photocopying, mechanical/electronic recording, or otherwise, without the explicit and written permission of Mordor Intelligence, is expressly and
clearly prohibited.

Any use of the information, material, analysis, and/or research provided by Mordor Intelligence is at your sole risk; you acknowledge that the
information, material, analysis, and/or research is provided “as is” and that Mordor Intelligence provides no warranty of any kind, express or
implied, with regard to the information, material, analysis, and/or research, including but not limited to, merchantability and fitness for any
purpose and/or use.

2 SAMPLE – GLOBAL ACCOUNTING SOFTWARE MARKET

 TABLE OF CONTENTS
5.1.2 Increasing Adoption of Cloud- 7. KEY VENDOR PROFILES*
1. INTRODUCTION
based Applications 7.1 Intuit Inc.
1.1 Study Assumptions and Market Definition
5.1.3 Ease of Integration with Existing 7.2 Sage Software Inc.
1.2 Scope of the Study
Software Platforms 7.3 SAP SE
2. RESEARCH METHODOLOGY
5.2 Market Restraints 7.4 Oracle Corporation
3. EXECUTIVE SUMMARY
5.2.1 Data Security Issues 7.5 Microsoft Corporation
4. MARKET INSIGHTS
6. MARKET SEGMENTATION 7.6 Infor Inc.
4.1 Market Overview
6.1 By Installation Type 7.7 Epicor Software Corporation
4.2 Industry Attractiveness - Porter's Five
Forces Analysis 6.1.1 On-premise (Database 7.8 Unit4 Business Software Limited
4.2.1 Bargaining Power of Suppliers Accounting, Installed Accounting)
7.9 Xero Ltd
4.2.2 Bargaining Power of Consumers 6.1.2 Cloud-based
7.10 Red Wing Software Inc.
4.2.3 Threat of New Entrants 6.2 By End-user Scale
7.11 Acumatica Inc
4.2.4 Intensity of Competitive Rivalry 6.2.1 Entry and Microbusinesses
7.12 Open Systems Inc.
4.2.5 Threat of Substitute Products 6.2.2 Small and Medium Businesses
7.13 Zoho Corp
4.3 Assessment of COVID-19 Impact on the 6.2.3 Enterprises
7.14 MYOB Group Pty Ltd
Market 6.3 By Geography
7.15 Acclivity Group LLC
5. MARKET DYNAMICS 6.3.1 North America
7.16 Yonyou Network Technology Co. Ltd
5.1 Market Drivers
6.3.2 Europe
7.17 Deltek Inc.
5.1.1 Increased Efficiency with the
6.3.3 Asia-Pacific
use of Accounting Software 7.18 Syspro Impact Software Inc.
6.3.4 Latin America
*List Not Exhaustive
6.3.5 Middle East & Africa

3 SAMPLE – GLOBAL ACCOUNTING SOFTWARE MARKET

 TABLE OF CONTENTS
9. INVESTMENT ANALYSIS

10. FUTURE OF THE MARKET

4 SAMPLE – GLOBAL ACCOUNTING SOFTWARE MARKET

 INTRODUCTION

STUDY ASSUMPTIONS AND MARKET DEFINITION

STUDY ASSUMPTIONS MARKET DEFINITION
▪ The base currency considered was the US Dollar (USD). The conversion of ◼ Accounting software processes and records accounting transactions within
other currencies to USD was considered on the basis of the average
functional modules such as accounts payable, accounts receivable, payroll,
exchange rate for the respective review-period years. The exchange rate
and trial balance. It mainly functions as an accounting information system.
conversion for forecast period was determined according to the base year’s
conversion rates.
◼ Moreover, the accounting software also keeps track of cash flows,
▪ The base year was identified based on the availability of annual reports and transactions, performs calculations, and generates reports. Eventually,
secondary information. The base year considered for this study is 2020
accounting software may help improve profitability, efficiency, operations,
based on the key market metrics gathered till Q4 2020.
and reduce costs.
▪ The review period considered for this study is 2015-2019. The CAGR
considered is for the forecast period of 2021-2026. ◼ The market study comprises Installation Type, End-user scale, and
▪ Market size estimations for the forecast years were in real terms. Inflation is Geography. The market also focuses on the impact of COVID-19.
not part of the pricing and the average selling price (ASP) was kept constant
throughout the forecast period for each country.

▪ Distribution of primary interviews conducted was based on the regional

share of the market and the presence of key players in each region.

▪ As a result of data triangulation through multiple methodologies and

approaches, the weighted averages of resulting estimates were considered
to be the final values.

5 SAMPLE – GLOBAL ACCOUNTING SOFTWARE MARKET

 INTRODUCTION

SCOPE OF THE STUDY

BY INSTALLATION TYPE BY END-USER SCALE BY GEOGRAPHY

◼ On-premise ◼ Entry and Microbusinesses ◼ North America

◼ Cloud-based ◼ Small and Medium Businesses ◼ Europe

◼ Enterprises ◼ Asia-Pacific

◼ Latin America

◼ Middle East & Africa

6 SAMPLE – GLOBAL ACCOUNTING SOFTWARE MARKET

 EXECUTIVE SUMMARY

GLOBAL ACCOUNTING SOFTWARE MARKET

The global accounting software market (henceforth, referred to as the
Revenue in USD billion, Global, 2019-2026
market studied) was valued at USD XX billion in 2020, and it is expected
to reach USD XX billion by 2026, with an estimated CAGR of 8.5% during
the period of 2021-2026 (henceforth, referred to as the forecast period).
8.5% 01
CAGR
XX.X

XX.X
02
XX.X
XX.X
XX.X Detailed Analysis Available with the Report
XX.X 03
XX.X
XX.X

04

2019 2020 2021 2022 2023 2024 2025 2026

SOURCE: Mordor Intelligence Analysis

7 SAMPLE – GLOBAL ACCOUNTING SOFTWARE MARKET

 MARKET INSIGHTS

MARKET OVERVIEW
■ The accounting software solutions are used to streamline the accounting process, save time, and ensure
an error-free transaction between companies and clients. These systems are designed for increasing
productivity by archiving, automating, and integrating human resource systems. According to an ACCA
study, 50% of C-level executives in the accounting industry believe that automated accounting systems
will be the norm in the coming years.
■ A study by Forbes suggests that 2021 will usher in a new wave of automation in the accounting industry.
Accounting professionals will increasingly be automating labor-intensive tasks such as audits, banking, tax
preparation, and payrolls. Also, the need for spreadsheet management software and practical
understanding of tax management is consistently rising. With the rising demand for computerized
accounting, businesses are likely to incline toward technologically directed solutions.
■ Many companies across the Asia-Pacific region, mostly in India, are inclined to implement the strategy of
outsourcing accounting functions. Several CPA firms are satisfied with the value and result of outsourced
accounting functions. In recent days, BPO business process outsourcing companies are turning to a
significant career globally. Thus, the demand for outsourcing business functions will continue to grow. The
increased profits and minimized risks would further upraise the market for accounting software in India.
■ Also, every business firm nowadays, especially those in developed countries such as the United States, the
United Kingdom, Canada, and Australia, mostly prefer outsourcing accounting tasks to a reliable partner
so that they can focus on the core activities, rather than building a new department for accounting and
increasing their expenses.
■ The accounting software keeps track of cash flows and transactions, performs necessary calculations, and
generates reports. Eventually, the accounting software improves profitability, efficiency, and operations
and reduces costs. For instance, filing business taxes is a complex process that primarily requires one to
keep close track of all business transactions. Accounting software can make this process easier by
ensuring that all business financial details are in one place and can be accessed remotely.
■ Moreover, the increasing trend of small and medium enterprises collaborating with e-commerce players
and integration with other online applications, such as automated bank feeds, automated billing features,
among others, is anticipated to further drive the adoption of accounting software during the forecast
period.

8 SAMPLE – GLOBAL ACCOUNTING SOFTWARE MARKET

 MARKET INSIGHTS

MARKET OVERVIEW

■ According to Forbes, the role of an accountant has been expanded beyond the lessons learned in
BIG DATA VOLUME
the certification courses. Almost 70% of small business accountants currently believe their advisory
In Exabytes, Global, 2016-2021
roles will become more strategic in the coming future using technology.
■ Further, big data has downsized the human interference in important accounting tasks. Not many
organizations understand how big data influences decision-making. It secures the relevant internal 403
data and analytics vigorously. Providing risk-free financial services to customers is essential for
firms these days, as voluminous data comes with a large number of security threats. Big data
enables accountants to proactively identify issues with real-time access to data so that accounting
businesses can base their decision-making on hard evidence and facts.
■ Startups and entrepreneurs are now making their shift toward implementing accounting software.
They are proactively adopting data science and analytics in their accounting system to remain 272
lucrative. A survey by ACCA and IMA says that globally, 62% of companies cited big data as hugely
vital to the future of business, potentially giving savvy businesses an edge over their competitors.
Companies like Xero are providing cloud accounting software to small businesses to help them tap
into the possibilities of big data in accounting. 179
■ The accounting software, which traditionally has been dominated by established vendors, such as
Microsoft and Oracle, among others, has transitioned toward software that offers an overall 124
business view. Several of these established players are making strides in their Enterprise Resource
Planning (ERP) and business analytics. 81
■ However, the market has seen a significant share of vendors with accounting at the core and has 51
been leveraging the cost benefits of the cloud. Additionally, they have been targeting the ever
niche “micro and small and medium” businesses.
■ One of the notable strategies exhibited by these accounting software new entrants is the inclusion
of advanced features, such as artificial intelligence (AI), for applications, such as planning, learning, 2016 2017 2018 2019 2020 2021
problem-solving, and speech recognition. SOURCE: Cisco

9 SAMPLE – GLOBAL ACCOUNTING SOFTWARE MARKET

 MARKET INSIGHTS

MARKET OVERVIEW
■ For instance, an Australia-based software provider's solution, MYOB Advisor, gives a natural language
description of the business's financial position. The description can be customized by accountants and
bookkeepers based on their own knowledge and experience with their SME clients. Moreover, the insights
provided by MYOB Advisor include visualization of cash flow so that the advisor can help their client see
where their cash is going or provide a view of top customers for helping clients better manage their high-
value relationships.
■ Cloud-based technology has been gaining even stronger momentum across the business world. Between
45% to 60% of businesses have already moved to cloud computing, which removes the need for
businesses to install and maintain accounting software on each computer. Instead, the software will be
cloud or server-based.
■ Also, as per a survey conducted by Sage, 53% of the respondents adopted cloud-based solutions for
client communication and project management. With cloud-based accounting systems, one can easily
access the system at any given point. They can even track inventory, sales, expenses, and budget
overflows
■ Further, Blockchain is a major trend in accounting that has been increasing in popularity over the last few
years. Emerging technology refers to the use of a network of independent computers to record, share and
synchronize transactions into an immutable ledger of accurate financial information. Blockchain is already
altering in accounting sector by potentially reducing the costs of reconciling and maintaining ledgers. The
Big Four of the accounting industry - Deloitte, Ernst Young, Price Waterhouse, and KPMG already joined
the blockchain wagon. They have a dedicated resource pool working in the distributed ledger
laboratories.
■ Further, in 2019, the open banking legislation unlocked various new domains for development. A large
majority of accountants and bookkeepers have also agreed to use specialized software if the integration
with the existing software becomes easier. This has led to App integration, which is surfacing as a new
trend in the market. For example, following its integration with VISA, Receipt Bank is now offering its
customers a comprehensive business card that ensures them full autonomy and control over their entire
expense management process. Also, recently, in April 2021, Lendlord launched an integration with the
accounting software Xero, which enables the automatic transfer of information about transactions so that
landlords can accurately track the cash flow of their property investment.

10 SAMPLE – GLOBAL ACCOUNTING SOFTWARE MARKET

 MARKET INSIGHTS

MARKET OVERVIEW

Detailed Analysis Available with the Report

11 SAMPLE – GLOBAL ACCOUNTING SOFTWARE MARKET

 MARKET INSIGHTS

MARKET OVERVIEW

Detailed Analysis Available with the Report

12 SAMPLE – GLOBAL ACCOUNTING SOFTWARE MARKET

 MARKET INSIGHTS

MARKET OVERVIEW – DEALS AND ACQUISITIONS

■ February 2020 - Intuit ProConnect announced that Intuit Practice Management, which is
powered by Karbon, is continuing to accelerate its software capabilities for tax professionals.
Karbon, a practice management solution and advanced work and communications platform,
primarily offers a collaborative place for accounting firms and professional services to
manage workflows, communicate with the teams, and deliver exceptional client work in the
current digital workplace.
■ February 2020 - Intuit, the maker of TurboTax, QuickBooks, and Mint, also announced that it
agreed for acquiring Credit Karma, which is a consumer technology platform with more than
100 million members in the United States, Canada, and the United Kingdom, for
approximately USD 7.1 billion in cash and stock. The acquisition will bring together both the
technology leaders with the shared goal of helping and solving the personal finance
problems that the consumers are facing today, regardless of their financial situation.
■ April 2021 - HgCapital added pre-accounting app developer Dext to its growing pile of
holdings in the accounting sector. Hg will take place on Dext’s board as part of the deal,
which involved venture capital investor Augmentum Fintech’s selling its stake to Hg for a
reported GBP 10.5 million alongside the GBP 12.6 million investment from Hg’s listed entity
HgCapital Trust.
■ May 2021 - Crypto accounting software maker Gilded released Mass Pay, a platform for
businesses for paying up to 500 employees at once with Ethereum-based cryptocurrency
tokens. As retail and institutional adoption of cryptocurrency has risen, there has also been a
rise in employees' interest in getting paid in crypto tokens. Mass Pay is designed for
facilitating one cryptocurrency transaction, which saves both time and gas fees when on the
Ethereum blockchain. The platform allows businesses for accepting the payment in crypto,
pay employees and contractors in crypto, account for crypto payments, and support the
range of cryptocurrency wallet choices as payee preference.

13 SAMPLE – GLOBAL ACCOUNTING SOFTWARE MARKET

 ASSESSMENT OF COVID-19 IMPACT ON THE
MARKET

14 SAMPLE – GLOBAL ACCOUNTING SOFTWARE MARKET

 MARKET INSIGHTS

ASSESSMENT OF COVID-19 IMPACT ON THE MARKET

■ As multiple countries across the world have been facing the challenge of dealing with the outbreak of
COVID-19 and lockdowns, more businesses, especially small businesses, have been working remotely, which
increased the demand for more dynamic and remote access to business financial records and systems by
individuals that need to work on them as well as those users that majorly need to access this timely
information accurately to make decisions to manage the financial affairs.
■ While traditional accounting firms are centered around cohesive in-house teams, there’s now a growing
inclination for outsourcing specific tasks and projects to third parties due to the pandemic. According to
recent surveys, 300,000 positions are outsourced every year, and 59% of businesses choose to outsource to
reduce their expenses.
■ Further, in August 2020, the unemployment rate of accounting and finance roles in the United States was
8.4% and 5.7%. Employers these days have a tough time filling top roles in financing and accounting.
However, as per a 2020 survey published by Arizent, 85% of CPA firms will allow their employees to work
from home even after a pandemic. With technological advancements and the rise in computerized
accounting systems, accountants will be able to produce excellent results in remote work settings.
■ The online software, such as Xero or QuickBooks online, offers the ability to work in real-time with the
business to prepare up-to-date financial information. This online software also enables rapid response. The
value of online accounting software has become unquestionable during the pandemic, both to access the
business records and to work collaboratively on accurate up to date accounts
■ For instance, in April 2020, FloQast announced that their offering proved to be an essential tool for
accounting and finance teams that were forced to move to the remote working scenario. The company’s
collaborate-anywhere capabilities have helped minimize the disruption caused by the pandemic by
ensuring continued business continuity despite the busy period, which requires multiple accounting teams
to conduct the month-end and quarterly closes, complete their annual audit, and prepare financial
statements for the board meetings.

15 SAMPLE – GLOBAL ACCOUNTING SOFTWARE MARKET

 MARKET INSIGHTS

ASSESSMENT OF COVID-19 IMPACT ON THE MARKET

Detailed Analysis Available with the Report

16 SAMPLE – GLOBAL ACCOUNTING SOFTWARE MARKET

 SEGMENTATION - BY XX.X%
GEOGRAPHY
North America
▪ North America
SAMPLE FIGURE Europe
▪ Europe
Asia-Pacific
▪ Asia-Pacific

▪ Latin America Latin America

▪ Middle East & Africa Middle East &

Africa

17 SAMPLE – GLOBAL ACCOUNTING SOFTWARE MARKET

 SEGMENTATION - BY GEOGRAPHY

GLOBAL ACCOUNTING SOFTWARE MARKET

GLOBAL ACCOUNTING SOFTWARE MARKET
Revenue Share (%), by Geography, 2020 Revenue in USD billion, by Geography, 2019-2026

CAGR
Geography 2019 2020 2021 2022 2023 2024 2025 2026
(%)

North
XX.X XX.X XX.X XX.X XX.X XX.X XX.X XX.X XX.X
America

Europe XX.X XX.X XX.X XX.X XX.X XX.X XX.X XX.X XX.X
SAMPLE FIGURE

Asia-Pacific XX.X XX.X XX.X XX.X XX.X XX.X XX.X XX.X XX.X

Latin America XX.X XX.X XX.X XX.X XX.X XX.X XX.X XX.X XX.X

North America Europe

Asia-Pacific Latin America

Middle East &
XX.X XX.X XX.X XX.X XX.X XX.X XX.X XX.X XX.X
Middle East & Africa Africa

SOURCE: Mordor Intelligence SOURCE: Mordor Intelligence

18 SAMPLE – GLOBAL ACCOUNTING SOFTWARE MARKET

 SEGMENTATION BY GEOGRAPHY

ASIA-PACIFIC
■ The Asia-Pacific is expected to grow at a faster pace for accounting software, primarily due to
factors such as increasing penetration of business accounting mobile applications and higher GLOBAL ACCOUNTING SOFTWARE MARKET
adoption of cloud computing technologies. Moreover, the emergence of small businesses and Revenue in USD billion, Asia-Pacific, 2019-2026
rising investments by SME's in the cloud and SaaS market are likely to boost the market's
growth.
■ By implementing various initiatives for building more business confidence in the cloud, the
local governments play a significant role in the development of the cloud integration services
SAMPLE FIGURE
market across the region, hence, developing more opportunities for the studied market.
■ The growing focus of the governments in the Australian region for easing organizational
payments, transactions, and generating a track of debt, liabilities, and assets increases the
demand for the market studied. The Australian Government's focus on improving the payment 2019 2020 2021 2022 2023 2024 2025 2026
times of larger enterprises could be vital over the coming months. Recently in April 2020, SOURCE: Mordor Intelligence
Minister for Small Business Stuart Nash told Parliament's Epidemic Response Committee that
they intended to write to more substantial businesses to encourage them to pay their bills to
local SMEs as fast as possible. NUMBER OF ACCOUNTING SOFTWARE SUBSCRIPTIONS
■ According to a survey by MYOB Business Monitor among more than 1,000 local SMEs in By Company, Australia, 2018
Australia nationwide, conducted throughout March, 49% of New Zealand businesses struggle
with late payments from customers, including 12%, which are paid late often or all the time.
■ Further, China's accounting standards are very different from global standards. One key
difference is China's 'fapiao' system. Fapiao are tax invoices provided to customers upon
purchasing a product. All companies operating in China must purchase the software and
devices that are authorized to print fapiao.
■ When preparing annual financial reports, all foreign companies are required to follow the
Chinese Generally Accepted Accounting Principles (GAAP). Though China GAAP is 90% similar
to IFRS, there are minor discrepancies between them that make it difficult for foreign
companies to understand. Source: CPA Australia Ltd.

19 SAMPLE – GLOBAL ACCOUNTING SOFTWARE MARKET

 SEGMENTATION BY GEOGRAPHY

ASIA-PACIFIC
Accounting Software in China Versions Price

Megi Megi RMB 400 per month

KIS mini version RMB 2000

Kingdee KIS KIS standard version RMB 3500 ~ 4000

KIS Professional Edition RMB 4000 ~ 7000

Yonyou G3 financial management RMB 4980 - service fee is charged

system V11.0 at 20%
Yonyou
Yonyou G6 financial management RMB 14000 - service fee is charged
system V12.1 at 20%

■ Further, late payments are more noticeable in several key sectors, with 59% of construction businesses
striving with late payments, including 17% paid late often or all the time, and 67% of manufacturing
businesses, 26% of which report being paid late regularly. The problem is also worse in the country's
largest city, with 16% of SMEs based in Auckland getting paid late often or all the time, compared to
13% in Christchurch, 12% in Wellington, and just 6% in rural communities.
■ With the late payments anticipated to increase further added with the new payments, keeping track of
all of them has become a primary concern for the organizations, which is aiding to the adoption of the
market studied. Australia and New Zealand are anticipated to contribute to the region's share
significantly. Investment bank Morgan Stanley estimates Xero will have a dominant 60% share of the
local accounting software subscription market by 2021, compared to MYOB's estimated 28% share at
that time in Australia.

20 SAMPLE – GLOBAL ACCOUNTING SOFTWARE MARKET

 SEGMENTATION BY GEOGRAPHY

ASIA-PACIFIC

Detailed Analysis Available with the Report

21 SAMPLE – GLOBAL ACCOUNTING SOFTWARE MARKET

 COMPETITIVE INTELLIGENCE

KEY VENDOR PROFILES*

■ Intuit Inc.
■ Sage Software Inc.
■ SAP SE
■ Oracle Corporation
■ Microsoft Corporation
■ Infor Inc.
■ Epicor Software Corporation
■ Unit4 Business Software Limited
■ Xero Ltd
■ Red Wing Software Inc.
■ Acumatica Inc
■ Open Systems Inc.
■ Zoho Corp
■ MYOB Group Pty Ltd
■ Acclivity Group LLC
■ Yonyou Network Technology Co. Ltd
■ Deltek Inc.
■ Syspro Impact Software Inc.

*List Not Exhaustive

22 SAMPLE – GLOBAL ACCOUNTING SOFTWARE MARKET
 KEY VENDOR PROFILES

MYOB GROUP PTY LTD - OVERVIEW

 MYOB Group offers business management solutions. The

company offers accounting software, tax, payroll, and
other business management software solutions, such as
MYOB banklink, a desktop solution to deliver micro and
small business transaction data from its bank to its
accountant using live data feeds.

 MYOB has signed up as a signatory company to the

Australian Supplier Payment Code. Given that most of
Founded in 1991 MYOB’s suppliers would meet the small business supplier
criteria, MYOB has chosen to pay all suppliers under the
code. This makes it easier for the company to administer
Glen Waverley, Australia and has no material impact on the business.

 The company also works directly with accounting

+61-3-9222-9888 practices to streamline its processes and maximize its
productivity. MYOB solutions are used by leading
accounting practices such as tax agents and sole
https://www.myob.com/ practitioners.

 MYOB has acquired six organizations. Its most recent

acquisition was Reckon’s Accountants Practice
Management division on November 16, 2017. It acquired
Reckon’s Accountants Practice Management division for
AUD 180 million.

23 SAMPLE – GLOBAL ACCOUNTING SOFTWARE MARKET

 KEY VENDOR PROFILES

MYOB GROUP PTY LTD - PRODUCTS AND STRATEGIES

PRODUCTS STRATEGIES

The company offers its accounting software solutions in three subscription

models that target specific categories of professionals and organizations. Apart
from a PC-based service, the services can also be accessed from a mobile app
(with considerable limitations). TECHNOLOGIES ACQUISITIONS

PLAN MINIMUM PRICE

MYOB Essentials Payroll USD 10 per Month ◼ The company has a new initiative, MYOB Client Insights Panel, an online research
panel of its clients and partners, including Business Owners, Accountants, and
MYOB Essentials USD 24 per Month Bookkeepers. It’s an ongoing project that enables people to influence MYOB’s
business decisions, which would help it to ensure offering business-enhancing
Accounting Starter USD 27 per Month
solutions.
Accounting USD 48 per Month
◼ MYOB is working on ways to improve data quality to automate reconciliation by
Accounting + Payroll USD 60 per Month reinventing critical workflows. It has taken the novel approach of replicating the
bank feeds direct concept downloads of transactions from banks every day with
MYOB AccountRight USD 54 per Month major suppliers.
Standard USD 70 per Month ◼ Alongside the negative impact to trade, recent research by MYOB has revealed
two-thirds of small business owners feel their mental health and wellbeing have
Plus USD 109 per Month
also been impacted by the COVID-19 pandemic. In response to the findings,
Premier USD 140 per Month MYOB has joined forces with mental health provider Smiling Minds to help small
business owners take control of their wellbeing. The partnership sees the launch
of dedicated modules in the Smiling Mind app to assist small business owners in
Detailed Product Analysis is Available with the Final Report taking proactive steps to manage their mental health.

24 SAMPLE – GLOBAL ACCOUNTING SOFTWARE MARKET

 KEY VENDOR PROFILES
MYOB GROUP PTY LTD - SWOT ANALYSIS
STRENGTHS
◼ The company has a strong brand penetration in the Australian
market for its accounting software solutions. It has a wide range of
product offerings when compared to most vendors in the country.
Also, the number of collaborations that the company has with third
parties makes it extremely compatible in any environment. For
instance, MYOB is a Microsoft Gold Certified company, allowing it
to integrate with Microsoft programs smoothly. It is also partnered
with companies like PayPal, making it highly suitable for
deployments in e-commerce establishments.
OPPORTUNITIES
◼ With 29% of SME respondents citing cash flow as the cause of a lot
of extreme stress in MYOB’s most recent Business Monitor*, MYOB
looks forward to seeing the benefits of the partnership.
◼ The company announced a strategic partnership with fintech Butn
Limited. The strategic partnership will deliver MYOB a fully
integrated invoice funding solution, assisting businesses in
managing cash flow and driving growth.
25 SAMPLE – GLOBAL ACCOUNTING SOFTWARE MARKET
WEAKNESSES
◼ Even though MYOB is one of the leading organizations in its
industry, it faced a challenge in moving to other product segments
with its present culture.
◼ Given the scale of expansion and different geographies the
company is planning to expand into, MYOB needs to invest in
technology to integrate the process. Currently, the investment in
technologies is not par with the vision of the company.
S W
O T
THREATS
◼ With 29% of SME respondents citing cash flow as the cause of a lot
of extreme stress in MYOB’s most recent Business Monitor, MYOB
looks forward to seeing the benefits of the partnership.
◼ The company announced a strategic partnership with fintech Butn
Limited. The strategic partnership will deliver MYOB a fully
integrated invoice funding solution, assisting businesses in
managing cash flow and driving growth.
 KEY VENDOR PROFILES

MYOB GROUP PTY LTD - RECENT DEVELOPMENTS

M Merger and Acquisition I Product Innovation E Expansion P Partnership

MYOB launched a loyalty program in partnership

with Mastercard, allowing sole traders to earn
MYOB revealed a suite of updates to its product rewards points when they pay eligible business
range, including the release of an upgrade to MYOB expenses using a Visa or Mastercard credit card in
Essentials for new users and significant
improvements to reporting functionality, payroll, and the MYOB AccountRight Live business solutions
resource management for bigger businesses. MAY 2020 platform.

I I P
APR 2020 The company is calling for early adopters to test a FEB 2020
new browser feature for MYOB AccountRight that
can be accessed from any computer and on any
mobile or tablet, giving users flexibility in how and
where they work for no added cost.

26 SAMPLE – GLOBAL ACCOUNTING SOFTWARE MARKET

 KEY VENDOR PROFILES

MYOB GROUP PTY LTD - RECENT DEVELOPMENTS

M Merger and Acquisition I Product Innovation E Expansion P Partnership

Telstra and MYOB have partnered in a bid to make it

ACCC announced for expanding MYOB’s portfolio of
easier for Australian small and medium-sized
business (SMB) customers to access the digital cloud business management solutions with the
solutions they need to survive and grow. Combining addition of GreatSoft Australia’s practice
Telstra mobile and MYOB subscriptions onto the
same Telstra bill simplifies administration and management software. This acquisition will increase
payments – allowing business owners more time to their offering of leading SaaS solutions to accounting
get on with what matters most. FEB 2021 practices across Australia.

P I P
FEB 2021 MYOB announced the launch of a new solution that APR 2021
will help simplify and streamline workforce
management for shift-based businesses. It can
provide mid-market businesses with the opportunity
to combine their ERP, PS, and WFM software under a
single, seamless, integrated cloud platform – MYOB
Advanced.

27 SAMPLE – GLOBAL ACCOUNTING SOFTWARE MARKET

 RESEARCH
METHODOLOGY
 RESEARCH METHODOLOGY

■ Mordor Intelligence (MI) advocates an appropriate mix of secondary and primary research to meet client objectives.

■ MI translates market insights (market dynamics, competition, varying consumer demands, and regulations) into actionable business insights.

■ The following phases are practiced at Mordor for efficient delivery of various syndicated and consulting assignments:

STEP 1 STEP 2 STEP 3

SCOPING/ PROJECT INITIATION MARKET ANALYSIS PROJECT DELIVERY

Decipher client requirements/ market to be

Extensive desk research to identify the most relevant secondary information available
studied

Tailor-made research approach for

Contact Mordor’s empaneled experts and identify industry experts across the market
customized reports

Effective use of Mordor’s knowledge

Conduct primaries and surveys to gather qualitative and quantitative insights
repository to gather relevant insights

Confirm the objectives of the assignment with

Triangulate and analyze data to finalize actionable business insights
the client

Finalize report contents and establish Report delivery with high-quality market insights, competitive landscape, etc.,
a deliverable format as per the proposed content

29 SAMPLE – GLOBAL ACCOUNTING SOFTWARE MARKET

 RESEARCH PHASES EXPLAINED

SECONDARY RESEARCH PRIMARY RESEARCH

This phase involves a thorough synthesis of existing publications across the
◼ At Mordor, we pool in industry experts across the value chain, to gather first-hand
web to gather meaningful insights on the current situation of the market, insights on the market studied. In addition to these, knowledgeable industry
technology developments, and any other market related information. The veterans or retired experts, consultants, and freelancers are a call away to
collaborate with Mordor on any assignment that requires real-time industry insights.
sources include, but are not limited to:
◼ We are also equipped to conduct market surveys to gather qualitative insights and
◼ Scientific papers, journals, and publications, such as Journal of Financial
the opinion of individuals related to the industry.
Accounting
▪ Primary research is used both to validate the data points obtained from secondary
◼ Industry and government websites for blogs, magazines, and other research and to fill the data gaps after secondary research. Data gathered during the
publications primary research phase are useful to arrive at critical insights, both qualitative and
quantitative; these insights can be used to ascertain the following:
◼ Conference proceedings and association publications
▪ Critical market dynamics (drivers, restraints, future, and regulations) and their
◼ Investor presentations, technical brochures, annual reports, press releases, impact
transcripts of key personnel interviews, and other strategic publications by ▪ Market distribution across various segments
several competitors in the market ▪ Market entry for new companies and insights on competitive landscape
◼ Accounting software providers and other stakeholders present in the market MODES OF PRIMARY RESEARCH Video
ecosystem Conference

◼ Solution information including technical specifications, approvals, patents,

etc.
Telephonic Email Chat Virtual •& Others
◼ Paid sources (Questel Orbit, Factiva, Bloomberg, Seeking Alpha, etc.) Interviews Interviews Interviews Council
Surveys

◼ Other sources, including journals, articles, etc. (for usage patterns)

30 SAMPLE – GLOBAL ACCOUNTING SOFTWARE MARKET

 RESEARCH PHASES EXPLAINED

DATA TRIANGULATION AND INSIGHT GENERATION

◼ Based on the factors (both endogenous and exogenous in nature) identified and collected during the secondary and primary phases, our in-house subject-matter
experts transform the quantitative data extracted and use them to infer critical insights.
◼ The market size estimations are carried out through ‘bottom-up’ and ‘top-down’ approaches.
◼ Our top-down and bottom-up approaches are integrated into our ‘in-house model sheets’, which are used to generate the market estimates and growth rates
(depending upon the historical trends of the respective markets, along with various factors, such as drivers, restraints, and recent developments in the market) of the
product segment in the respective country.
It is a process of combining outcomes from different sources to increase the
validity and reliability of the results. This process also helps strengthen
DATA conclusions about findings and reduce the risk of false interpretations. The
TRIANGULATION insights obtained from both secondary and primary research are analyzed
and validated by the process of data triangulation to arrive at closer
estimates.

An econometric model is a simplified representation of a real-world

ECONOMETRIC process. Here, the tools of econometric theory are used to analyze and
MODELLING forecast economic phenomenon and to solve unknown quantities, such as
forecast demand, supply, investment, production, consumption, etc.

After the data is curated, analysts populate the report. From data and
REPORT
forecast, insights are drawn to visualize the entire ecosystem in a single
WRITING report.

31 SAMPLE – GLOBAL ACCOUNTING SOFTWARE MARKET

 FOR MORE INFORMATION,
PLEASE CONTACT
5th Floor, Rajapushpa Summit, Financial
+1 617-765-2493
District, Hyderabad - 500008, India

info@mordorintelligence.com www.mordorintelligence.com

Industry Reports | Consulting | Intelligence Center

+1 617 765 2493 | info@mordorintelligence.com | www.mordorintelligence.com

32 SAMPLE – GLOBAL ACCOUNTING SOFTWARE MARKET