Cash Management System Market Overview
The Cash Management System market is projected to grow from USD 19.1 Billion in 2024 to USD 51.5 billion by 2032, exhibiting a compound annual growth rate (CAGR) of 13.2% during the forecast period (2024 - 2032). Additionally, the market size for Cash Management System was valued at USD 16.9 billion in 2023.
Rise in the e-commerce sector and the increased adoption of automated applications in the banking sector and increasing need for automated cloud-based solutions in banking are the key market drivers enhancing the market growth
Figure 1: Cash Management System Market Size, 2023-2032 (USD Billion) .
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Cash Management System Market Trends
The increasing need for centralized cash management solutions in banking transaction processes is anticipated to propel market growth. These solutions allow businesses to overview information about cash and financial transactions. Numerous businesses are focusing on driving financial efficiency and managing transaction risk. As a result, businesses are widely adopting a centralized cash management system.
Further, Growing adoption of smart safe cash management solutions across various end-uses is anticipated to fuel market growth. Smart safe solutions help businesses overcome cash handling and storage issues. These technologically advanced safes allow businesses to monitor cash at every step of the money-handling process. These safes provide clear visibility into the money flow at all times.The integration of machine learning (ML) and artificial intelligence (AI) techniques in the financial sector is expected to create growth opportunities for the market over the forecast period. AI and ML platforms are helping businesses in providing the most accurate money flow forecasts.
The AI and ML integrated solutions are widely adopted by enterprises as these solutions seamlessly integrate with accounting systems, enterprise resource planning (ERP) systems, and bank management systems. The ML and AI algorithms process datasets, including vendor invoices, customer invoices, and bank statement inflows/outflows for accurate and comprehensive money flow forecasts. Therefore, such innovation and advancement related to the cash management solution have enhanced the Cash Management System market CAGR across the globe in recent years.
However, Increasing cyberattacks and data theft hinder the growth of the Cash Management System market revenue. For instance, In May 2018, the World Economic Forum stated that the worldwide losses that occurred due to cyberattacks reached USD 1 trillion. Cyber-attackers are targeting card processing, e-banking, ATM management, and interbank transfer processes for data theft. This, as a result, is obstructing market growth and creating challenges for securing financial transaction data.
Cash Management System Market Segment Insights
Cash Management System Component Insights
The Cash Management System market segmentation, based on components, includes services, and software. The software Cash Management System segment held the majority share in 2021 contribution in respect to the Cash Management System market revenue. This is primarily owing to the increasing need for fund transfer process automation and streamlining of money management processes. Cash management solutions enable businesses to simplify complex money transfer processes and reduce manual workload. Numerous vendors are focusing on offering configurable automation algorithms as per business needs. For instance, Cashbook is focused on offering configurable automation algorithms to business ERP systems, thereby helping businesses improve their outcomes.
Jan-2019 G+D Currency Technology signed a definitive agreement to acquire Transtrack International, a leader in developing standard software solutions. The acquisition would expand its services and software offerings to strengthen its position as a partner for the digitalization of the cash cycle.
Oct-2019 Oracle announced a partnership with Visa, a financial services corporation. The partnership was focused on helping businesses in managing their cash flows in a better way and paying their contractors and suppliers quickly.
Figure 2: Cash Management System Market, by Component, 2021 & 2030 (USD Million)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Cash Management System Product Type Insights
The Cash Management System market segmentation, based on product type, includes a check to clear, purchasing card, retail and wholesale market, account reconciliation, controlled disbursement, information reporting, wire transfer, automated clearing, and demand deposit account. The retail and wholesale market segment dominated the market in 2021 and is projected to be the faster-growing segment during the forecast period, owing to the growing demand for cash management solutions in smaller retail stores post the period of the pandemic. However, the service segment is expected to witness the highest growth in the upcoming years, owing to large-scale and cash cycle automation applications of retail cash management solutions, which is expected to aid the retail cash management industry. Hence, rising applications of metal material implants for Cash Management systems positively impact market growth.
Cash Management System Deployment Insights
The Cash Management System market data has been bifurcated by deployment into on-premise and cloud. The on-premise segment dominated the market in 2021 and is projected to be the faster-growing segment during the forecast period, 2022-2030. This deployment method allows businesses to have control over their business data and offers a sense of proprietorship compared to cloud deployment. Moreover, the on-premise deployment process permits large-scale customization of services and products whilst offering infrastructure flexibility.
Jul-2019: Sage Intacct became an integration partner of Dryrun, the fastest-growing cloud platform. Sage Intacct data in the Dryrun provides CFOs and accountants the tools to model cash flow insights and delivers advisory for companies whose gross annual revenue falls between 2M – 100M annually.
Feb-2020: Infosys signed an agreement to acquire Simplus, a cloud consulting firm. The acquisition would accelerate Infosys’ position as an end-to-end Salesforce enterprise cloud solutions and services provider, providing client capabilities for cloud-first digital transformation.
Additionally, The cloud deployment segment is anticipated to register the highest growth over the next eight years. The cloud deployment mode is preferred by a wide range of businesses owing to the advancements in technology and numerous benefits it offers, such as easy upgradation and low operational cost. The advantage of this deployment method is that businesses that are using cloud services need not upgrade those services constantly. Moreover, this deployment enables the ability to manage, monitor, and control large and complex systems.
Cash Management System Enterprise Insights
The Cash Management System market segmentation, based on Enterprise, includes Small-medium size enterprises, and Large scale enterprises. The Large scale enterprise Cash Management System segment held the majority share in 2021 contribution in respect to the Cash Management System market revenue. This is primarily owing to the increased adoption of cash management systems in larger banks to precisely manage payments and basic account transactions. These systems include services like image lockbox and automated clearing house (ACH) receipt. Moreover, the systems also offer payables automation services, which, in turn, is expected to fuel the demand in large enterprises.
The SME segment is anticipated to register the highest growth over the next eight years. Numerous small and medium enterprises are turning to software solutions to control their cash flows. As liquidity management becomes more complex, various SMEs across the globe are investing in high-performance software with the view of reducing transaction risk and increasing profitability. The rapidly increasing SME sector is anticipated to create growth opportunities for the market in near future.
Nov-2019: Sage Group announced a partnership with Standard Chartered for providing access to the right tools, knowledge, and funding to SMEs. This partnership was aimed at simplifying SME banking and supporting SMEs in taking timely and insight-driven financial decisions.
Cash Management System End User Insights
Based on End Users, the Cash Management System industry has been segmented into Retail, Bank, and Non-banking services. Multispecialty hospitals held the largest segment share in 2021, owing to the increased adoption of money management systems to reduce the time required for the transaction process and to help increase the high net profit of the banks. These systems also help the banks to improve the technical proficiency of their employees. Various services offered by these systems include advanced web services, account reconciliation services, and balance reporting services.
The fastest-growing segment in the Cash Management System industry is Retail. Various retail businesses are widely adopting money management tools to optimize their business cash flow. These tools allow businesses to access a suite of online receivable, payable, and reporting solutions to meet the needs of the business. Moreover, these tools allow easy access to e-Statements and balances and transaction information through a consolidated dashboard.
Cash Management System Regional Insights
By Region, the study provides the market insights into North America, Europe, Asia-Pacific and Rest of the World. Asia-Pacific Cash Management System market accounted for USD 5.7024 billion in 2021 and is expected to exhibit a significant CAGR growth during the study period. This is attributed to the increasing demand for money management systems to maximize the automation of high volume financial transactions for large enterprises. Various factors, such as the increasing need for enterprise-level connectivity and a rise in demand for liquidity management, are anticipated to propel the growth. Moreover, large as well as small and medium enterprises in the region are deploying tailor-made money management solutions to attain significant returns on investment. Moreover, China Cash Management System market held the largest market share, and the India Cash Management System market was the fastest growing market in the Asia-Pacific region.
Further, the major countries studied in the market report are: The U.S, Canada, Germany, France, UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.
Figure 3: Cash Management System MARKET SHARE BY REGION 2021 (%)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Europe Cash Management System market accounts for the second-largest market share due to the presence of prominent market players, such as Sopra Banking Software SA; Giesecke & Devrient GmbH; and Glory Solutions, Inc. The European Union is accelerating its efforts to foster work around advanced technologies such as blockchain. According to Fintech Action Plan 2018, the European Commission plans to form new Fintech Labs across the region, thereby creating growth opportunities for the regional market. Further, the Germany Cash Management System market held the largest market share, and the UK Cash Management System market was the fastest growing market in the European region
The North America Cash Management System Market is expected to grow at the fastest CAGR from 2022 to 2030. This is due to the high concentration of retail cash management solutions and services vendors such as Oracle Corporation and Brink's Incorporated which is expected to drive the market for retail cash management technology within the region during the forecast period.
Cash Management System Key Market Players & Competitive Insights
Major market players are spending a lot of money on R&D to increase their product lines, which will help the Cash Management System market grow even more. Market participants are also taking a range of strategic initiatives to grow their worldwide footprint, with key market developments such as new product launches, contractual agreements, mergers and acquisitions, increased investments, and collaboration with other organizations. Competitors in the Cash Management System industry must offer cost-effective items to expand and survive in an increasingly competitive and rising market environment.
One of the primary business strategies adopted by manufacturers in the Cash Management System industry to benefit clients and expand the market sector is to manufacture locally to reduce operating costs. In recent years, Cash Management System industry has provided medicine with some of the most significant benefits. The Cash Management System market major player such as Medtronic Inc (Ireland), Abbott Laboratories (US), Stryker Corporation (US), and others are working to expand the market demand by investing in research and development activities.
Aurionpro Solutions Limited was a technology products company, headquartered in Navi Mumbai, India. Aurionpro Solutions Limited is a technology company with a strong banking domain outlook. It aid customers to achieve their business vision through a combination of technology products, niche services, process outsourcing, and business analytics. In August 2021, An Aurionpro subsidiary, Integro Technologies Ltd. announced the launch of Smartlender Cloud, which is a cloud offering from its lending product suite. The cloud offering is stated to help accelerate the bank’s digital transformation agenda. Also, In November 2020, Aurionpro Solutions Ltd announced that they have been signed up by Arab Bank for Investment & Foreign Trade in UAE to implement their iCashpro+ Corporate Internet banking & Cash Management platform in order to enhance Al Masraf’s Corporate Banking services in the region.
Also, Finastra enables the financial app services world to deliver the future of banking. Applications that power financial institutions, marketplaces that accelerate industry & an open innovation platform for banks, fintech & non-banks to connect and collaborate. It provides the broadest, deepest software applications and connectivity to marketplaces, partners and fintech through our open platform, orchestrating the future of financial services. In Nov-2019, Finastra collaborated with United Arab Bank, a UAE-based bank that provides services to corporate and retail customers. Under the collaboration, the United Arab Bank uses Finastra’s Fusion Corporate Channels and Fusion Cash Management products for the transformation of its offerings and to increase its customers..
Key Companies in the Cash Management System market include
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Intimus International Group
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Infosys Limited
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Finastra Group Holdings Limited
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Giesecke & Devrient GmbH
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Aurionpro Solutions Limited
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HCL Technologies Ltd.
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Giesecke & Devrient GmbH
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Glory Ltd
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NTT Data Corporation
Cash Management System Industry Developments
May 2022 Aurionpro Market Systems Pte Ltd., an Aurionpro subsidiary announced the up-gradation of its partnership with Murex a financial software provider company as business partners.
April 2022 BankiFi a multi-bank aggregator platform announced the launch of its new open cash management platform.
Oct-2019 Finastra teamed up with Ripple, a real-time gross settlement system, currency exchange, and remittance network company. Through this collaboration, the companies would provide Ripple’s blockchain technology with Finastra’s payment solutions for supporting cross-border payments.
Cash Management System Market Segmentation
Cash Management System Component Outlook
Cash Management System Product Type Outlook
Cash Management System Deployment Outlook
Cash Management System Enterprise Outlook
Cash Management System End-User Outlook
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Retail
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Bank
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Non-banking services
Cash Management System Regional Outlook
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Germany
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France
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UK
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Italy
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Spain
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Rest of Europe
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Asia-Pacific
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China
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Japan
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India
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Australia
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South Korea
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Australia
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Rest of Asia-Pacific
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Rest of the World
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Middle East
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Africa
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Latin America
| Report Attribute/Metric |
Details |
| Market Size 2023 |
USD 16.9 billion |
| Market Size 2024 |
USD 19.1 billion |
| Market Size 2032 |
USD 51.5 billion |
| Compound Annual Growth Rate (CAGR) |
13.2%(2024-2032) |
| Base Year |
2023 |
| Market Forecast Period |
2024-2032 |
| Historical Data |
2018 & 2020 |
| Market Forecast Units |
Value (USD Billion) |
| Report Coverage |
Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends |
| Segments Covered |
Product Type, Operating Platforms, and Region |
| Geographies Covered |
North America, Europe, Asia Pacific, and Rest of the World |
| Countries Covered |
The U.S, Canada, Germany, France, UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil |
| Key Companies Profiled |
Medtronic Inc (Ireland), Abbott Laboratories (US), Stryker Corporation (US), DePuy Synthes (US), B. Braun Melsungen AG (Germany), NuVasive, Inc (US), Zimmer Biomet (US), Orthofix (US), and Globus Medical (US) |
| Key Market Opportunities |
The integration of machine learning (ML) and artificial intelligence (AI) techniques. |
| Key Market Dynamics |
Increasing need for centralized cash management solutions Technology advancement cash management solutions to boost market growth Increase in Cyberattack hinder market growth |
Frequently Asked Questions (FAQ) :
The Cash Management System market size was valued at USD 19.1 Billion in 2024.
The market is projected to grow at a CAGR of 13.2% during the forecast period, 2024-2032.
North America had the largest share in the market
The key players in the market are Medtronic Inc (Ireland), Abbott Laboratories (US), Stryker Corporation (US), DePuy Synthes (US), and B. Braun Melsungen AG (Germany).
The anterior Cash Management System category dominated the market in 2021.
The minimally invasive spine surgery had the largest share in the market.
