Enterprise Performance Management Software - Ghana

The Enterprise Performance Management Software market in Ghana is expected to witness a significant increase in revenue, projected to reach US$2.21m in 2024.
This represents a promising growth opportunity for the country.
Looking ahead, the market is projected to maintain a steady annual growth rate (CAGR 2024-2029) of 5.46%, resulting in a market volume of US$2.88m by 2029.
This indicates a positive trajectory for the Enterprise Performance Management Software market sector in Ghana.
When it comes to the average Spend per Employee in the Enterprise Performance Management Software market, it is projected to reach US$0.15 in 2024.
This metric serves as an important indicator of the overall investment in this market segment and reflects the level of commitment from businesses in Ghana.
In terms of global comparison, United States is expected to generate the highest revenue in the Enterprise Performance Management Software market, with a projected revenue of US$2.87bn in 2024.
This highlights the dominance of the United States in this market segment and underscores the country's strong position in the global technology industry.
In Ghana, there is a growing demand for Enterprise Performance Management Software, as businesses strive to improve their financial planning and analysis capabilities.

Definition:

The Enterprise Performance Management Software market covers software solutions that help organizations to manage and improve their performance across various areas, such as finance, operations, and strategy. These solutions typically include features for financial planning and analysis, budgeting, forecasting, and consolidation. These are primarily focused on providing insights and strategic guidance to help organizations make informed decisions and achieve their long-term goals.

Products in the Enterprise Performance Management Software market can be obtained in two ways: as on-premises software that is sold via a transactional license or a subscription and as cloud-based software (software as a service/ SaaS) that is most frequently sold as a subscription.

Additional Information:

The Enterprise Performance Management Software market comprises revenue and revenue growth as the key performance indicators. Only the revenues that are generated by primary vendors at the manufacturer price level either directly or through distribution channels (excluding value-added tax) are included and the revenues generated by resellers are excluded. Revenues are generated through both online and offline sales channels and include spending by enterprises (B2B) and governments (B2G).

Key players in this market include Oracle. SAP, Anaplan, IBM, and Workday.

For more information on the displayed data, use the info button right next to the boxes.

Performance management software, such as PerformYard, Engagedly, Leapsome, BambooHR, SAP SuccessFactors, Paylocity, and Workday
Financial planning and budgeting, such as SAP, Workday, and Centage (Budget Maestro)
Strategic planning and modeling, such as Workday Adaptive Planning, Jedox, and Host Analytics

Administrative software, such as ADP, Gusto, Workday, and SAP
Office software, such as Microsoft, Google, and Zoho
Collaboration software, such as Google, Slack, and Zoom

The Enterprise Performance Management Software market in Ghana has been experiencing steady growth in recent years, driven by various factors.

Customer preferences: Ghanaian businesses are increasingly adopting Enterprise Performance Management Software to improve their financial planning and analysis capabilities. This software allows companies to streamline their financial reporting processes, automate data collection, and gain real-time insights into their financial performance. Additionally, the software's ability to integrate with other business systems and provide a single source of truth for financial data is highly valued by Ghanaian businesses.

Trends in the market: One trend that has been observed in the Ghanaian Enterprise Performance Management Software market is the increasing demand for cloud-based solutions. This is driven by the need for businesses to access their financial data remotely, especially in light of the COVID-19 pandemic. Another trend is the growing popularity of mobile-friendly software, which allows users to access financial data on the go.

Local special circumstances: One factor that has contributed to the growth of the Enterprise Performance Management Software market in Ghana is the government's efforts to improve the country's business environment. This has led to increased foreign investment and a growing number of small and medium-sized enterprises (SMEs) in the country. These businesses are increasingly looking to adopt Enterprise Performance Management Software to improve their financial management capabilities and compete with larger companies.

Underlying macroeconomic factors: Ghana's economy has been growing steadily in recent years, with a GDP growth rate of 6.5% in 2019. This growth has been driven by the country's expanding oil and gas sector, as well as its growing services sector. Additionally, Ghana's stable political environment and improving infrastructure have made it an attractive destination for foreign investment. These macroeconomic factors have contributed to the growth of the Enterprise Performance Management Software market in Ghana, as businesses seek to improve their financial management capabilities and take advantage of the country's growing economy.

Data coverage:

The data encompasses B2B, B2G, and B2C enterprises. Figures are based on the allocation to the country where the money was spent at manufacturer price level (excluding VAT).

Modeling approach / Market size:

The segment size is determined through a top-down approach. We use financial statements such as annual reports, quarterly earnings, and expert opinions to analyze the markets. To estimate the segment size for each country individually, we use relevant key market indicators and data from country-specific industry associations such as GDP, level of digitization, GDP sector composition, and observed level of software piracy.

Forecasts:

We use a variety of forecasting techniques, for instance, advanced statistical methods, depending on the behavior of the relevant segment. The main drivers are the GDP and the level of digitization.

Additional notes:

The data is modeled using current exchange rates. The market is updated twice a year in case market dynamics change. The impact of the COVID-19 pandemic is considered at a country-specific level.

This report presents a comprehensive analysis and additional information on the Technology market, in a PDF format.

Imagine a world without the apps you use daily, the games you enjoy, or the websites you rely on. Software development is the invisible hand behind this digital magic, transforming ideas into the tools that shape our lives. Software development is the process of creating, designing, deploying, and supporting software. It includes all the computer activities between the software's conception and final manifestation.

These activities are planned and put into stages in a logical order, a process known as the software development life cycle (SDLC) or software development. The SDLC often includes six stages: requirement analysis, design, development, testing, implementation, documentation, and evolution. Programming languages such as JavaScript and C++ are used to create software, with JavaScript being the most popular programming language in 2023 and used by roughly 65 percent of software developers.