Commenting on the Currency Exchange Software Market report, an analyst says the latest trend gaining momentum in the market is increasing demand for integrated currency exchange software. Vendors in the market are offering integrated and converged software suites. End-users prefer integrated software suites as implementation of different software may lead to integration issues. End-users opt integrated products and software suites from the same vendor because they have better integration ability and support other functions. The rise in network complexity and IT infrastructure has made integration an important buying criterion for end-users according to ReportsnReports.com.
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The analysts forecast global currency exchange software market to grow at a CAGR of 12.63% during the period 2017-2021. According to the report, one of the major drivers for currency exchange software market is Pricing strategies of vendors. Software vendors are adopting customer-centric pricing strategies, enabled by advances in technology, to thrive in a competitive market environment. Several vendors in the currency exchange software market are focusing on providing value-based pricing models depending on the need of the customer and value perception. The pricing of the software is based on differentiating features of the software solution and the value-added features provided to the customers.
Key players in the global currency exchange software market: Calyx Solutions, Clear View Systems, Digital Currency Systems, MoneyExchangeSoft, and Yodatech. Other Prominent Vendors in the market are: Barracuda FX, biz4X, CGI Design, Cymonz, FinCode, MEDOC COMPUTERS, Mighty Systems, VINIT SOLUTIONS, and Wallsoft.
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Further, the report states that one of the major factors hindering the growth of this market is High implementation and maintenance cost. The high cost of deploying the on-premises currency exchange software is one of the major challenges in the market for small financial institutions, money service businesses, and travel agencies. The cost of software licensing, system design and customization, implementation, training, and maintenance is considered while determining the price of currency exchange software.
This report, Global Currency Exchange Software Market 2017-2021, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.
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