Oracle (US) and Certent (US) are the Key Players in the Disclosure Management Market
The disclosure management market is growing rapidly, due to the tremendous increase in the interest of enterprises toward advanced analytics for future estimations. The global disclosure management market size is estimated to be valued at USD 493.0 Million in 2017 and is projected to reach USD 1,066.0 Million by 2022, at a Compound Annual Growth Rate (CAGR) of 16.7% during the 2017–2022.
The disclosure management ecosystem comprises vendors such as SAP (Germany), Oracle (US), Certent (US), IRIS Business Services (India), Workiva (US), CoreFiling (UK), DataTracks (India), LucaNet (Germany), OCR Services (US), Trintech (Australia), and Lecorpio (US). The players in the disclosure management market have adopted various strategies to expand their global presence and enhance their market shares. Partnerships, collaborations, new product launches, and acquisitions are some of the significant strategies adopted by the players in the recent years. The top market players, such as SAP, Oracle, Certent, and Workiva, have adopted these strategies to expand their product portfolios and business presence.
Oracle has been focusing on product upgradations as one of its top business strategies. This is evident from the launch of the latest versions of its disclosure management offering. In August 2017, Oracle announced the expansion of Oracle Enterprise Performance Management (EPM) Cloud. This upgradation included new functionalities for tax reporting, and profitability and cost management. It also included new strategic modeling and disclosure management capabilities. Similarly, in February 2018, the company announced Oracle Enterprise Data Management Cloud as a part of Oracle EPM Cloud. The new offering provides a unified platform that simplifies the management of critical enterprise data assets, such as chart of accounts, and improves data integrity and alignment.
Certent is another major provider of disclosure management software and services. The company has adopted effective organic and inorganic growth strategies to establish a strong foothold in the market. For instance, in November 2017, the company opened a new office in Bucharest, Romania. This expansion would enable Certent to support financial and disclosure reporting teams from across the globe. Earlier, in June 2017, the company acquired IBM Cognos Disclosure Management. This would strengthen Certent’s disclosure management offering, as the IBM suite offers on-premises and cloud platforms to financial and disclosure reporting organizations across North America, Asia Pacific (APAC), and Europe. In December 2017, Certent partnered with Resolver to expand its disclosure management and Sarbanes–Oxley Act of 2002 (SOX) compliance solutions. With this partnership, Resolver’s clients would be able to use Certent's financial and disclosure reporting solution along with their existing SOX/ Internal Control over Financial Reporting (ICFR) and risk management solutions. It would also provide the reporting teams of both the companies, visibility into the status of compliance efforts and permit the easy revision of corporate risk factors while creating new compliance tasks.
Related Reports:
Disclosure Management Market by Business Function (Finance, Legal, Marketing and Communication, Compliance, Procurement, and Human Resource), Component (Software and Services), Deployment Type, Organization Size, and Vertical - Global forecast to 2022
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