The Accounts Receivable Automation Market is projected to grow at an astounding CAGR of 10.7% between 2022 and 2032. From US$ 2.4 Billion in 2022, the Accounts Receivable Automation Market is projected to grow to US$ 6.6 Billion in 2032.
The market for accounts receivable automation is expanding as a result of a growing emphasis on improving cash flow and lowering day sales, outstanding debt, and accounting cycle time. An effective cash management system is now necessary due to important considerations like the rising number of financial transactions.
The accounts receivable automation market refers to the use of technology and software solutions to streamline and automate the process of managing customer invoices, payments, and collections. This includes functions such as invoice generation, payment processing, and credit management. The market for accounts receivable automation is growing rapidly as businesses seek to improve cash flow, reduce manual errors, and enhance customer relationships through faster and more efficient payment processing. Key players in this market include software vendors such as SAP, Oracle, and Infor, as well as specialized providers such as Billtrust and AvidXchange.
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Key Takeaways from the Market Study
- Global Accounts Receivable Automation Market was valued at US$ 2.4 Bn by 2022-end
- The US to account for the highest value share of US$ 2.4 Bn of global market demand for Accounts Receivable Automation Market in 2032
- From 2015 to 2021, Accounts Receivable Automation demand expanded at a CAGR of 12.2%
- By Component, the Solution constitutes the bulk of Accounts Receivable Automation Market with a CAGR of 10.2%.
“The growing focus on the improvement of cash flow and reduction in days sales outstanding and reduced accounting cycle time are the major factors fueling the growth of the Accounts Receivable Automation market,” remarks an FMI analyst.
Recent Developments
- In May 2021, Esker announced a strategic partnership with KPMG France to guide businesses in their transition to e-invoicing. The alliance will combine their respective expertise to accompany administrative and financial departments in their digital transformation.
- In May 2021, Quadient announced that its software-as-a-service (SaaS) accounts receivable (AR) automation solution Yay-Pay by Quadient shall be available to small and medium-sized businesses through the web-based Marketplace of Sage which is a provider of cloud business management solutions. Partnering with Sage shall enable the company to build a fast-growing AR automation SaaS solution in the market.
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Key Players
- SAP SE
- Oracle Corporation
- SK Global Software
- Quadient (YayPay Inc.)
- Kofax Inc.
- Workday, Inc.
- Corcentric LLC
- HighRadius Corporation
- Qvalia AB
- MHC Automation
- Bill.com Holdings Inc.
Key Segments Covered
By Component:
- Solution
- Services
- Consulting and Implementation Services
- Support and Maintenance Services
By Deployment Mode:
- On-Premises
- Cloud
By Organization Size:
- SMEs
- Large Enterprises
By Vertical:
- BFSI
- IT and Telecom
- Manufacturing
- Consumer Goods and Retail
- Healthcare
- Energy and Utilities
- Others
By Region:
- North America
- Latin America
- Europe
- Asia Pacific
- MEA
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Table of Content
1. Executive Summary
1.1. Global Market Outlook
1.2. Summary of Statistics
1.3. Key Market Characteristics & Attributes
1.4. Fact.MR Analysis and Recommendations
2. Market Overview
2.1. Market Coverage
2.2. Market Definition
3. Market Risks and Trends Assessment
3.1. Risk Assessment
3.1.1. COVID-19 Crisis and Impact on Accounts Receivable Automation
3.1.2. COVID-19 Impact Benchmark with Previous Crisis
3.1.3. Impact on Market Value (US$ Mn)
3.1.4. Assessment by Key Countries
About Future Market Insights, Inc.
Future Market Insights, Inc. is an ESOMAR-certified business consulting & market research firm, a member of the Greater New York Chamber of Commerce and is headquartered in Delaware, USA. A recipient of Clutch Leaders Award 2022 on account of high client score (4.9/5), we have been collaborating with global enterprises in their business transformation journey and helping them deliver on their business ambitions. 80% of the largest Forbes 1000 enterprises are our clients. We serve global clients across all leading & niche market segments across all major industries.
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