Accounts Receivable Automation Market Overview 2023-2028:
The global accounts receivable automation market size reached US$ 2.3 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 4.5 Billion by 2028, exhibiting a growth rate (CAGR) of 11.6% during 2023-2028. The increasing adoption in SMEs, rising usage of online banking applications, and the growing focus on M&A represent some of the key factors driving the market.
Accounts receivable automation utilizes digital technology to simplify and automate the time-consuming and repetitive tasks associated with collecting unpaid payments from customers. It encompasses a range of activities, including generating and sending invoices, automating email communications, reconciling transactions, providing various payment options, managing credit risks, and generating data reports. By embracing accounts receivable automation, businesses can boost productivity and streamline their operations by reducing the time spent on manual paperwork and payment processing. Additionally, it enables the adoption of e-invoicing, which reduces dependence on paper and ink, conserves storage space, and lowers expenses related to postage and delivery.
Report Metric
Historical Year: 2017-2022
Base Year: 2022
Forecast Year: 2023-2028
Important Attribute and highlights of the Report:
• Detailed analysis of the global market share
• Market Segmentation
• Historical, current, and projected size of the market in terms of volume and value
• Latest industry trends and developments
• Competitive Landscape
• Strategies of major players and product offerings
Accounts Receivable Automation Market Trends and Drivers:
The market for automating accounts receivable is currently witnessing substantial growth due to the high demand for improved operational efficiency and streamlined credit decisions. This increased demand is driven by the numerous benefits it offers, including simplified and accurate credit choices for businesses. Additionally, companies are increasingly digitizing their processes to minimize errors in repetitive tasks, further contributing to market expansion. The adoption of e-invoicing is also on the rise as organizations aim to reduce paper usage and associated costs, leading to a positive market outlook. Furthermore, the market is propelled by the growing prevalence of cloud computing, enabling easy access to documents and software from anywhere while facilitating the storage of vast amounts of data.
Global Accounts Receivable Automation Market Analysis and Segmentation 2023-2028:
Top Key Players covered in this report are: BlackLine Inc., Bottomline Technologies Inc., Comarch SA, Esker SA, HighRadius Corporation, Invoiced Inc., Oracle Corporation, Sage Group plc, SAP SE, ScienceSoft USA Corporation, VersaPay Corporation, Yaypay Inc. (Quadient) and Zoho Corporation Private Ltd.
The report has segmented the market on the basis of region, component, deployment, organization size and vertical.
Component Insights:
• Solution
• Services
Deployment Insights:
• On-premises
• Cloud-based
Organization Size Insights:
• Large Enterprises
• Small and Medium-sized Enterprises
Vertical Insights:
• Consumer Goods and Retail
• BFSI
• Manufacturing
• IT and Telecom
• Healthcare
• Energy and Utilities
• Others
Regional Insights:
• North America
o United States
o Canada
• Asia-Pacific
o China
o Japan
o India
o South Korea
o Australia
o Indonesia
o Others
• Europe
o Germany
o France
o United Kingdom
o Italy
o Spain
o Russia
o Others
• Latin America
o Brazil
o Mexico
o Others
• Middle East and Africa
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Key highlights of the report:
• Market Performance (2017-2022)
• Market Outlook (2023- 2028)
• Porter’s Five Forces Analysis
• Market Drivers and Success Factors
• SWOT Analysis
• Value Chain
• Comprehensive Mapping of the Competitive Landscape
If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
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