Europe General Ledger Market
- Report Code: GE 1002
- Publish Date: Upcoming
A general ledger is a complete record of financial transactions of a company or an organization. The ledger holds account information that is needed to prepare financial statements, and includes accounts for assets, liabilities, owners’ equity, revenues, and expenses. In the healthcare setup, general ledger systems and software help in improving accountability for payments to physicians, hospitals, and other service providers. It generates a financial statement with all the account payable, receivable and other financial details.
In 2013, Europe accounted for 23.34% of the global general ledger systems market. The market was valued at $113.0 million in 2012 and is expected to grow at a CAGR of 4.3% from 2013 to 2018.
Despite a financial crunch in Europe, governments have been aspired to reconstruct HCIT system to cut overall healthcare cost thereby ensuring patients safety. For instance, National Health Service (NHS) reformulated its HCIT infrastructure by investing 30% of $8 billion to re-establish HCIT system in U.K. in the year 2010.
This market is segmented and forecasted on the basis of type into integrated general ledger systems and standalone general ledger systems. Integrated general ledger system accounts for the largest share in the European general ledger systems market and is expected to grow at a CAGR of 5.3% from 2013 to 2018. On the basis of components the market is segmented into hardware, software and services, while deployments have been segmented on-premise, cloud-based, and web-based. The market is further segmented and forecasted on the basis of major countries, which include the U.K., France, Germany, Spain, and Italy. The market is also segmented and analyzed on the basis of end users.
The IT infrastructure of healthcare payers is currently constrained by aged and inflexible systems, which is a limiting factor affecting their capabilities to capitalize on new markets, respond to competition and legislation, and improve operational efficiency. This has enticed healthcare payers to consider replacement of existing systems with new ones, which in turn is driving the market.
The report on the European general ledger system market provides an extensive competitive landscape of companies operating in this market. The key players covered in the report are Aspect Software, Avaya Inc., Cerner Corporation, Infor, and Oracle Corporation. This report also includes the market share, value chain analysis, and market metrics such as drivers, restraints, and upcoming opportunities in the market.
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