New BARC Survey : ESG, Cloud and Platform Integration Are Reshaping the Financial Consolidation Market
The second annual edition of The Financial Consolidation & Group Accounting Survey, published by BARC, delivers one of the most comprehensive, fact-based analyses of the financial consolidation and group accounting software market available today. Based on real-world experiences from 453 participants across the globe – 312 of whom provided detailed feedback on their use of a specific product – the survey offers a data-driven perspective on buying behavior, use cases, challenges and success rates.
Unlike many other market studies, this survey is not based on anecdotal insights, personal opinions or market share considerations. Instead, it provides a structured analysis of market trends and meaningful comparisons between software solutions based on a wide range of product and vendor-related criteria.
ESG, Cloud and Integrated Planning Drive Market Momentum
Long considered a stable and slow-moving segment, the market for financial consolidation software is undergoing rapid transformation. New regulatory requirements – especially in the area of ESG – are creating fresh momentum: 10 percent of respondents already use an integrated ESG and consolidation solution, while nearly half plan to implement one. However, recent proposals by the European Union to ease ESG reporting requirements, particularly for smaller companies, may slow down this development in the short term
From a technological standpoint, the shift to cloud-based applications continues to gain traction. More than half of the surveyed organizations have already moved their consolidation solutions to the cloud – up eight percentage points from the first edition of the study. This makes consolidation the CPM application with the highest cloud adoption rate today, a particularly noteworthy figure given the traditionally conservative approach many companies take to managing sensitive financial data.
The survey also confirms a clear trend toward unifying consolidation, planning and reporting on a single platform. Organizational and technical silos are increasingly being broken down in favor of integrated, streamlined approaches – a shift driven by both technology providers and customer demand.
A Market in Transition
The average age of installed consolidation solutions, according to the survey, is currently more than eight years – significantly higher than in planning environments. This indicates a likely wave of modernization in the near future. The market has become more dynamic and competitive, with innovation and modernization putting pressure on long-established vendors and opening doors for newer players.
“What we’re seeing is a fundamental shift in a market that was long considered mature and predictable,” said Stefan Sexl, author of the study and BARC analyst. “Rising expectations, regulatory changes and the need for modern, cloud-ready and integrated solutions are reshaping the way organizations approach financial consolidation.”
About the Study
The Financial Consolidation & Group Accounting Survey 25 evaluates 13 software products from 11 different vendors, using a wide range of product- and vendor-related criteria. The results are published in several focused documents, offering decision-makers clear, data-backed insights to support software selection and strategy.
Find more information about the survey here: [https://barc.com/reviews/consolidation-software/]
