Italian market
The accounting software market in Italy
An accounting software is a program used by small and large companies to record and control the various transactions of the company and its economic and financial performance. Most of these programs are used for:
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An accounting software is a program used by small and large companies to record and control the various transactions of the company and its economic and financial performance. Most of these programs are used for:
General accounting
Accounting practices
Budgeting, financial reporting and asset management
Income tax return
The market is expected to grow significantly globally as more and more companies realize that good accounting and record keeping can be an advantage to their business. The market CAGR for the next 5 years is expected to be 8.5%.
Italy is a country with a low level of digitalization, which is why the Italian government has recently invested several billion euros to catch up, which should fuel the growth of accounting software in the years to come. Furthermore, SMEs in Italy are an interesting opportunity for software vendors, as their level of digitalization is still quite low. The Italian market, thanks to the advent of the Cloud and the digitization of small businesses (such as those in the craft sector or small professionals), is expected to experience positive growth.
The market trend is towards the use of the Cloud, which has been brought about largely by the pandemic. Its advantages are: better coordination between all workers, lower costs in terms of hardware maintenance and antivirus installation, and greater data security thanks to the automatic backup option. Given the highly dynamic and innovation-driven international system, the Italian market is trying to emulate large foreign companies by focusing on artificial intelligence and "Big Data" management. Finally, the country is looking into the implementation of accounting software for public administration.
Some Italian software used mainly by accountants are : Zucchetti.it, Smeup or TeamSystem.
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