A new report by TowerGroup has confirmed the dominant market share of SmartStream Technologies in reconciliations and exception management automation. Entitled ‘Reconcilable Differences: Reconciliation Vendors Converge on Exception Management’, the report states that ‘SmartStream is the market leader in terms of global revenue and is the best-positioned reconciliation vendor to extend its capabilities to orchestrating trade processing applications within the middle and back office.’ According to the report, SmartStream has a 37% share of the $135 million market for Reconciliation Systems. The nearest rival to SmartStream achieves only 16% share of the market. The report added that, as the market for exception management matures, a greater diversity of competitive vendors will be meeting head-to-head. These vendors will emerge from four different backgrounds: reconciliations, middleware, business process management and systems integration: ‘A number of vendors that have not traditionally contended with each other will find new sources of competition when it comes to matching and processing transaction events.’
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