Financial compliance software to generate $1.1 bln in 2005, $2 bln by 2009

According to IDC, the market for financial compliance applications will grow from $1.1 bln in 2005 to over $2 bln in 2009, experiencing a 17% compound annual growth rate (CAGR). The new financial regulatory environment, which includes among others Sarbanes-Oxley (Sarbox) and International Financial Reporting (IFRS), has identified the corporate need for applications that support managing the internal and business control environment as well as transparent and flexible financial reporting.