Key regions: China, Germany, United States, United Kingdom, Canada
The Enterprise Performance Management Software market in Slovakia has been experiencing steady growth in recent years.
Customer preferences: Slovakian businesses have been increasingly turning to Enterprise Performance Management Software to streamline their financial reporting processes and gain greater insights into their financial performance. This trend is in line with global market trends, as businesses around the world seek to improve their financial reporting capabilities and gain greater visibility into their financial data.
Trends in the market: One of the key trends in the Enterprise Performance Management Software market in Slovakia is the growing demand for cloud-based solutions. Cloud-based EPM software offers a number of benefits over on-premise solutions, including greater flexibility, scalability, and accessibility. As a result, many businesses in Slovakia are choosing to migrate their EPM systems to the cloud.Another trend in the market is the increasing adoption of mobile EPM solutions. With more and more employees working remotely or on-the-go, businesses are looking for ways to provide their employees with access to financial data and reporting tools from their mobile devices. This has led to the development of mobile EPM apps that allow users to access financial data and reports from their smartphones or tablets.
Local special circumstances: Slovakia is home to a number of large multinational companies, particularly in the automotive and electronics sectors. These companies have complex financial reporting requirements and are often subject to strict regulatory requirements. As a result, there is a significant demand for sophisticated EPM solutions that can handle complex financial data and reporting requirements.
Underlying macroeconomic factors: Slovakia has a strong and growing economy, with a focus on manufacturing and exports. This has led to a growing demand for EPM software that can help businesses manage their financial data and reporting processes more efficiently. Additionally, Slovakia has a highly educated workforce and a favorable business environment, which has helped to attract foreign investment and drive economic growth.
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.
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