LONDON--(BUSINESS WIRE)--The global audit management software market size is poised to grow by USD 543.5 million during 2019-2023, according to a new report by Technavio, progressing at a CAGR of close to 12% during the forecast period. Request Free Sample Pages
Read the 111-page research report with TOC on "Audit Management Software Market Analysis Report by type (on-premises and cloud) and geography (APAC, Europe, MEA, North America, and South America) 2019 - 2023".
The market is driven by increasing demand for cloud-based audit management software. Also, the integration of cognitive technology with audit management software is anticipated to boost the growth of the audit management software market.
The cloud-based audit management software is gaining immense popularity, and its adoption is growing significantly owing to the benefits of cloud computing. Cloud-based audit management software provides functionalities such as a conventional document management system and individual role access to the audit document. It offers various other business benefits including audit process alignment, automated audit process, reduction in manual errors and paperwork, and fast resolution of audit issues. Such benefits of cloud-based audit management software will significantly increase its demand during the forecast period.
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Major Five Audit Management Software Companies:
ACL Services Ltd.
ACL Services Ltd. provides audit management and analytics that offers risk assurance for changing auditing-related regulations. In December 2018, ACL Services launched an enhanced GRC platform built on robotic process automation (RPA) and machine learning.
Ideagen PLC
Ideagen PLC offers Pentana Audit, which is an internal audit management software for risk-based audit automation. In September 2018, the company acquired Morgan Kai Group, an audit management software provider. The acquisition is expected to help in enhancing the company’s business and technology.
Lockpath Inc.
Lockpath Inc. provides Keylight audit management that facilitates the alignment of audits, the streamlining of audit tasks, and the generation of recommendation plans that allow organizations to work on their core business operations.
Wolters Kluwer Financial Services
Wolters Kluwer Financial Services operates businesses under various segments, which include health; tax and accounting; governance, risk and compliance; and legal and regulatory. The company offers TeamMate Internal audit management software that provides risk-based audit planning, audit scheduling, time and expense reporting, audit documentation, knowledge base, and audit and issue tracking.
Workiva Inc.
Workiva Inc. provides internal audit management software, which is used for developing an audit methodology by streamlining risk assessments.
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Audit Management Software Distribution Channel Outlook (Revenue, USD Million, 2019 - 2023)
- On-premise
- Cloud
Audit Management Software Regional Outlook (Revenue, USD Million, 2019 - 2023)
- APAC
- Europe
- MEA
- North America
- South America
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