Easing the Compliance Burden and Risk Will Drive Significant Investment in Financial Compliance Applications, IDC Reveals

According to a newly released IDC study, the market for financial compliance applications will grow from $1.1 billion in 2005 to over $2 billion in 2009, experiencing a 17% compound annual growth rate (CAGR). The new financial regulatory environment, which includes among others Sarbanes-Oxley (Sarbox) and International Financial Reporting (IFRS), has identified the corporate need for applications that support managing the internal and business control environment as well as transparent and flexible financial reporting. Investing in these solutions will support near-term compliance requirements and yield more far-reaching organizational benefits such as managing enterprise risk and business performance management.

See full Study Summary.