NEW YORK, Oct. 25, 2024 /PRNewswire/ — Report on how AI is redefining market landscape – The Global Policy Management Software Market  size is estimated to grow by USD 1.37 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of  11.74%  during the forecast period. Rise in frequency of data breaches among various industries is driving market growth, with a trend towards integration of artificial intelligence (AI) and automation technologies in policy management software. However, high implementation and maintenance costs of policy management software  poses a challenge.Key market players include Aptien Labs s.r.o., Azati, ComplianceBridge Corp., ConvergePoint Inc., Damco Group, Duck Creek Technologies LLC, EIS Group Inc., Fadata, Guidewire Software Inc., Hyland Software Inc., Insurity LLC, Majesco, MetricStream Inc., Mitratech Holdings Inc., OneShield, OneTrust LLC, Open Document Management System S.L., Oracle Corp., Pegasystems Inc., QUALEX CORP, Riskonnect Inc., RLDatix Global, SAP SE, SAPIENS INTERNATIONAL CORP. N.V, Verisk Analytics Inc., and Workiva Inc..

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Key Market Trends Fueling Growth

The policy management software market is experiencing significant growth due to the integration of AI and automation technologies. These advancements are revolutionizing the way organizations create, manage, and enforce policies. AI, specifically natural language processing (NLP) algorithms, automate policy creation by analyzing regulatory documentation, industry standards, and best practices. This capability streamlines the policy development lifecycle, ensuring policies are comprehensive, up-to-date, and aligned with regulatory changes. Automation technologies, such as intelligent automation and robotic process automation (RPA), facilitate efficient policy dissemination, tracking, and enforcement. They enable consistent compliance, risk mitigation, and the adaptability of policy management software to dynamic regulatory requirements. AI-powered analytics provide insights into policy adherence, identify trends, and predict potential risks. RPA automates routine tasks, freeing up resources for strategic initiatives. These factors are driving the adoption of policy management software, contributing to market growth. 

The Policy Management Software market is thriving with trends such as centralized policy management, real-time updates, and at-risk management gaining significant traction. Industries like Transportation, Healthcare, Financial Services, Insurance, Information Technology, Energy, and Manufacturing are increasingly adopting policy lifecycle management solutions for compliance and automation. Notifications and escalations, document review, and automated reminders ensure timely policy implementation. Cloud services and on-premise solutions cater to various business needs. Data security and cybersecurity threats are addressed with features like accessibility controls, litigation protection, and document versioning. Automation, machine learning, and artificial intelligence streamline processes. IoT and AI enhance policy management for large enterprises, government, and defense. Compliance management, document access controls, and policy status reporting ensure organizational efficiency and risk mitigation. Value-added services offer web and cloud deployment options, while IT infrastructure and subscriber data management ensure security. Policy management software is essential for managing financial risks, employee performance, and IT infrastructure in today’s business landscape. 

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The cost of implementing and maintaining policy management software has been a significant barrier for many organizations, particularly smaller and mid-sized enterprises. The initial investment for software acquisition and deployment involves substantial upfront expenses, including licensing fees, customization, training, and implementation support. These costs can strain budgets, especially for businesses with limited capital expenditure capabilities. Ongoing maintenance costs also present challenges, with expenses related to software updates, technical support, system integrations, and infrastructure upkeep. The complexity of implementation and customization processes adds to these costs, requiring extensive professional services and consulting support. Moreover, the lack of standardized pricing models and complex licensing structures in the policy management software market can make cost predictability difficult for organizations, adding financial uncertainty to the decision-making process. Costs for policy management software range from USD500 to USD20,000 per year, with enterprise solutions typically being the most expensive. These factors may hinder the growth of the global policy management software market during the forecast period.Policy Management Software: Overcoming Challenges in Business Operations Policy Management Software (PMS) plays a crucial role in managing and enforcing organizational policies across various industries, including Financial Services, Insurance, Information Technology, Energy, Manufacturing, and more. However, implementing PMS comes with several challenges. Cloud-based solutions offer flexibility but raise concerns around data security and cybersecurity threats. Document review, automated reminders, and electronic approval signatures require accessibility, litigation protection, and financial risks management. Document versioning and revision tracking call for standardization, scalability, and education and awareness. IT infrastructure, web and cloud deployment, and security are essential considerations. Financial services, insurance, and government and defense sectors face unique challenges like regulatory compliance, risk control, and digital transformation. Remote employment, mobile availability, and integration difficulties add to the complexity. PMS should offer value-added services, document access controls, policy status reporting, and subscriber data management. Standardization, security, and confidentiality are key concerns. Technical restrictions and employee performance impact the overall efficiency and risk impact of PMS implementation.

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This policy management software market report extensively covers market segmentation by

Deployment 1.1 On-premises1.2 Cloud basedEnd-user 2.1 Banking and financial services2.2 Insurance2.3 Healthcare2.4 Government2.5 OthersGeography 3.1 North America3.2 Europe3.3 APAC3.4 Middle East and Africa3.5 South America

1.1 On-premises-  The Policy Management Software market is a significant sector in business technology. It helps organizations manage and enforce policies effectively. These software solutions streamline policy creation, implementation, and compliance. They provide a centralized platform for policy storage, tracking, and reporting. By automating policy management, businesses can reduce errors, save time, and ensure regulatory compliance. Policy Management Software is an essential tool for organizations seeking to mitigate risks and maintain a strong compliance posture.

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The Policy Management Software market is experiencing significant growth due to the increasing need for centralized policy management solutions across various industries. These solutions enable real-time updates, at-risk management, and policy documentation for sectors such as transportation, healthcare, and finance. Policy lifecycle management is a crucial feature, ensuring notifications and escalations are sent to the appropriate stakeholders for document review and approval. Automated reminders, electronic signatures, document versioning, and revision tracking enhance efficiency and compliance. Accessibility, litigation protection, and financial risk management are essential components, while regulatory compliance, risk control, and digital transformation are key drivers. Cybersecurity, remote employment, and mobile availability are becoming increasingly important in today’s dynamic business environment. Integration difficulties and security issues are challenges that need to be addressed, while standardization is essential for seamless implementation and adoption.

The Policy Management Software market encompasses solutions that help organizations centralize, automate, and streamline their policy management processes. These solutions offer real-time updates, at-risk management, and compliance management capabilities to ensure adherence to regulations and industry standards. The market caters to various sectors, including transportation, healthcare, financial services, insurance, information technology, energy, manufacturing, and government and defense, among others. Policy documentation and versioning are essential features, with automated reminders, electronic approval signatures, and document access controls ensuring efficient workflows. Cloud services and on-premise solutions provide deployment flexibility, while data security and cybersecurity threats are key concerns addressed by these solutions. Machine learning and artificial intelligence enable advanced analytics, risk impact assessment, and organizational efficiency improvements. The market also offers value-added services, such as document review, policy status reporting, and IT infrastructure management. However, challenges like integration difficulties, security issues, and standardization requirements persist. The market is evolving with digital transformation initiatives, remote employment, and mobile availability, and the increasing importance of cybersecurity and regulatory compliance. Policy Management Software solutions are essential for large enterprises and organizations in regulated industries to mitigate financial risks, ensure litigation protection, and maintain confidentiality.

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

DeploymentOn-premisesCloud BasedEnd-userBanking And Financial ServicesInsuranceHealthcareGovernmentOthersGeographyNorth AmericaEuropeAPACMiddle East And AfricaSouth America

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

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SOURCE Technavio

NEW YORK, Oct. 25, 2024 /PRNewswire/ — Report on how AI is redefining market landscape – The Real Estate Brokerage Software Market in US size is estimated to grow by USD 989.1 million from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of  9.33%  during the forecast period. Increasing focus of real estate brokers on enhancing operational efficiency and client services is driving market growth, with a trend towards increasing focus of vendors on new product launches. However, availability of open-source real estate brokerage software solutions  poses a challenge.Key market players include Altus Group Ltd., BoomTown ROI, LLC, Brokerage Management Solutions Inc, COMPASS, INC., CoreLogic Inc., CoStar Group Inc., Enchant LLC, eXp World Holdings Inc., Inside Real Estate, Keller Williams Realty Inc., Lone Wolf Technologies Inc., Placester Inc., RE MAX Holdings Inc., Real Geeks LLC, REALTYBACKOFFICE INC., Redfin Corp, Salesforce Inc., The Wise Agent LLC, Woolley Robertson Group Inc., Yardi Systems Inc., Zillow Group Inc., and Zurple Inc..

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Market Driver

The real estate brokerage software market in the US is witnessing significant growth due to the increasing focus of vendors on innovation. To stay competitive, software providers are investing in advanced technologies and features that cater to the intricate requirements of real estate professionals. For instance, Inside Real Estate, a prominent tech partner for over 400,000 agents, teams, brokerages, and franchise brands, introduced AI-driven productivity tools, customizable design options, and a back-office technology suite in their 2024 product roadmap. These enhancements aim to enhance productivity and growth by integrating front-to-back-office operations, enabling agents and brokers to leverage AI and automation, and differentiate their businesses. Similarly, Lone Wolf Technologies launched Lone Wolf Foundation, a comprehensive solution that consolidates major real estate functions into a single platform. These trends demonstrate the commitment of vendors to innovate and cater to the evolving demands of the real estate industry, driving the growth of the real estate brokerage software market in the US. 

Real Estate Brokerages in the US are embracing digital solutions to streamline operations and enhance customer experience. Brokerage software, a key digital technology, offers features like CRM for managing customer data, transaction management for smooth dealings, and marketing automation for lead generation. Property listing management ensures accurate and timely listings, while business intelligence and data analytics provide valuable insights. Remote work and cloud-based solutions enable flexibility and accessibility. Integration of AR and VR offers virtual tours, while ML and AI power personalized services. Compliance tracking, document preparation, and electronic signatures ensure efficiency and security. Financial management, rental and leasing, real estate investment, and performance tracking are essential functions seamlessly handled by these smart solutions. Blockchain technology and smart contracts provide secure contract management. The ROI from these software technologies is significant, making them a smart investment for Real Estate Brokerages. 

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Market Challenges

The open-source real estate brokerage software market in the US presents a notable competition to the commercial real estate brokerage software industry. Open-source platforms, like Open Realty and Real Estate Webmasters, provide cost-effective alternatives with customizable and adaptable solutions. These platforms offer features such as CRM, property management, and listing services at a fraction of commercial software’s cost. However, open-source solutions may attract smaller firms and independent brokers, potentially impacting the growth of the commercial market. Vendors of proprietary software must differentiate their offerings by providing advanced features, enhanced support, security measures to justify their higher costs. The continuous advancement of open-source solutions poses a significant challenge to the growth of the US real estate brokerage software market during the forecast period.The Real Estate Brokerage Software market in the US is experiencing significant growth due to the increasing use of digital tools in the industry. Cloud-based solutions and property management systems are becoming essential for brokers to manage their listings, tenants, and properties efficiently. The rise of Internet and smartphone usage has made mobility features a must-have for brokers on-the-go. Digital transformation is a key trend, with centralized data management enabling better decision-making and predictive analytics. Challenges include cybersecurity, with the need for secure data sharing and remote monitoring. Emerging technologies like blockchain, virtual reality, and augmented reality are transforming the industry, offering new opportunities for asset performance tracking, lease management, and tenant billing. Big data analytics and IoT are also crucial for optimizing building performance and real estate development. Omnichannel communications and customized solutions cater to diverse client needs. Multilingual solutions expand reach, while project and facility management streamline operations. Real estate transactions benefit from document sharing and digital tools.

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Segment Overview 

This real estate brokerage software market in US report extensively covers market segmentation by

Type 1.1 Customer relationship management1.2 Transaction management1.3 Lead generation1.4 Property management1.5 OthersDeployment 2.1 Cloud based2.2 On-premisesApplication 3.1 Residential3.2 Commercial3.3 IndustrialGeography 4.1 North America

1.1 Customer relationship management-  The Real Estate Brokerage Software market in the US is experiencing significant growth. This market includes software solutions designed to streamline and automate various brokerage operations, such as lead management, property listing, transaction management, and reporting. These tools help real estate brokers and agents increase efficiency, reduce errors, and improve customer service. Major players in this market include MLSListings, RE/MAX, and Zillow, among others. These companies offer a range of software solutions to cater to different brokerage needs and budgets. The market is expected to continue growing due to the increasing adoption of technology in the real estate industry.

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Research Analysis

The Real Estate Brokerage Software market in the US is experiencing significant growth as digital solutions become essential for streamlining operations and managing the complexity of transactions. Digital technologies such as CRM, transaction management, marketing automation, property listing management, and lead generation are transforming the industry. The use of cloud-based solutions, automation, and ROI-focused software technologies are driving efficiency and productivity. Internet usage and smartphone penetration continue to increase, making digital transformation a priority for real estate brokerages. Security is a critical concern, with blockchain technology and smart contracts offering potential solutions for contract management. Centralized data management is also crucial for effective customer relationship management and property management systems. Overall, the market is moving towards smart, integrated solutions that provide a competitive edge and enhance the customer experience.

Market Research Overview

The Real Estate Brokerage Software Market in the US is experiencing significant growth as digital solutions become essential for streamlining operations and enhancing customer experience. Digital technologies such as CRM, transaction management, marketing automation, property listing management, and lead generation are transforming the way real estate brokerages operate. Virtual tours, business intelligence, data analytics, and remote work are becoming increasingly popular, with cloud-based solutions offering flexibility and integration with other tools. Augmented reality (AR) and virtual reality (VR) are also gaining traction, property viewing experiences. Machine learning (ML) and artificial intelligence (AI) are being used for data security, performance tracking, compliance tracking, document preparation, and electronic signatures. The market is expected to continue growing as the industry embraces digital transformation, with a focus on ROI, data management strategies, and sensitive data protection. Emerging technologies like blockchain technology, smart contracts, and the Internet of Things (IoT) are also expected to play a role in the future of real estate software. Architects and engineers, real estate agents, and construction activities are among the industries benefiting from these smart solutions. With the increasing use of smartphones and the internet, the market is expected to see continued growth in the coming years.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

TypeCustomer Relationship ManagementTransaction ManagementLead GenerationProperty ManagementOthersDeploymentCloud BasedOn-premisesApplicationResidentialCommercialIndustrialGeographyNorth America

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

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SOURCE Technavio

SAN FRANCISCO, Oct. 25, 2024 /PRNewswire/ — B. Riley Advisory Services is soliciting bids for the assets of Synapse Financial Technologies, Inc., pursuant to the Order of the United States Bankruptcy Court, Central District of California, Chapter 11 Case No.: 1:24-bk-10646-MB

The Deadline for Initial Indications of Interest is November 4, 2024 at 4:00 p.m. Pacific Time. The  Deadline for Initial Bids is November 11, 2024 at 4:00 p.m. Pacific Time.

The Synapse Financial Technologies platform provided Banking as a Service (BaaS) infrastructure to fintech customers.  According to its Fall 2023 literature, the Synapse platform was serving approximately 120 fintech customers, 3 million active users, $60 billion annualized money movements and $3 billion card-based spending.  The system is running on MongoDB Atlas and AWS.

The assets being offered by the Chapter 11 Trustee include:

The Synapse Financial Technologies platform, a BaaS (Banking as a Service) and IPEquity interests in subsidiaries, Synapse Credit, LLC and Synapse Brokerage, LLCOther Assets as determined by the Chapter 11 Trustee

To receive additional information and to request a Non-Disclosure Agreement (NDA) required to investigate this opportunity, please contact:

Seth R. Freeman, Managing Director at sfreeman@brileyfin.com ; Tel +1-925-899-1550
Jonathan Wernick, Managing Director at jwernick@brileyfin.com; Tel +1 310-909-6121

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SOURCE B Riley Advisory Services