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Report Overview
2023
Base Year
2018-2023
Historical Year
2024-2032
Forecast Year
Competitive Landscape
Some of the major players are integrating advanced technologies to enhance the accuracy and efficiency of their accounts receivable processes
SAP SE:
German multinational specialising in enterprise software for business operations and customer relationship management, known for its ERP solutions.
Oracle Corporation:
American tech giant, renowned for database software, cloud solutions, and enterprise software products, with a strong focus on database management systems.
Kofax, Inc
A leading provider of intelligent automation software for digital workflow transformation, specialising in document management, robotic process automation, and cognitive capture.
Quadient (Yaypay, Inc)
An international company offering digital communication, shipping, and billing solutions, with Yaypay focusing on AI-driven accounts receivable automation.
Other key players in the global accounts receivable automation market are SK Global Software, Corcentric, LLC, HighRadius Corporation, Qvalia Group AB, MHC Software Holdings, Inc, and Bill.com, LLC, among others.
Companies are increasingly integrating AI, machine learning, and data analytics to enhance the accuracy and efficiency of their accounts receivable processes. These technologies help in predictive analytics, risk assessment, and automating routine tasks like invoice generation and payment reminders.
The Asia Pacific is expected to witness exponential growth in the accounts receivable automation market over the upcoming years due to rapid globalisation, economic development, digitalisation, and rising penetration of the internet. Initiatives taken by various governments in the Asia Pacific region for promoting the development of digital infrastructure are also expected to aid the growth of the market for accounts receivable automation in the region.
Other crucial factors propelling the growth of the market in the Asia Pacific region include reduced need for manual labour and improved accuracy in accounting processes.
Accounts Receivable Automation Market Report Snapshots
Accounts Receivable Automation Market Size
Accounts Receivable Automation Companies
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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Key Questions Answered in the Report
The market size reached a value of approximately USD 3.64 billion in 2023.
The market is expected to grow at a CAGR of 13.9% between 2024 and 2032.
The market is estimated to witness a healthy growth in the forecast period of 2024-2032 to reach USD 11.76 billion by 2032.
The major market drivers include optimisation of invoice processing and increasing adoption of accounts receivable automation so as to simplify bill management.
The key trends fuelling the growth of the market include increased focus on reduction DSO, cost and time efficient nature of accounts receivable automation, and rising demand for cloud-based accounts receivable automation.
The major regions in the market are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
The various end users in the market include BFSI, IT and telecom, manufacturing, healthcare, retail and consumer goods, and transportation and logistics, among others.
The accounts receivable automation ensures enhanced efficiency and security along with improved management oversight.
The significant components in the market include solutions and services.
The key players in the global accounts receivable automation market are SAP SE, Oracle Corporation, Kofax, Inc, Quadient (Yaypay, Inc), SK Global Software, Corcentric, LLC, HighRadius Corporation, Qvalia Group AB, MHC Software Holdings, Inc, and Bill.com, LLC, among others.
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