Financial Regulations Driving Use Of Compliance Software

Sales of compliance software is expected to increase at a 17 percent compound annual growth rate from this year to 2009, International Data Corp. said. Sales this year are expected to reach $1.1 billion.

Sarbanes-Oxley and International Financial Reporting rules are part of the new regulatory environment driving the need for applications that provide the necessary internal and business control processes, as well as transparent and flexible financial reporting, IDC said.

"Financial compliance will drive direct spending on technology in three key areas: financial reporting and analysis, compliance management solutions, and business assurance analytics," IDC analyst Kathleen Wilhide said in a statement.