The size of the global accounts payable automation market, which was estimated to be worth US$ 2.3 billion in 2021, is expected to increase at a compound annual growth rate of 10% from 2022 to 2032. By 2022 and 2032, the market is projected to reach US$ 2.6 billion and US$ 6.7 billion, respectively.
The use of an advanced invoice software system allows for the more reliable completion of complex matching processes with reduced manual labor. Intelligent software also makes fault identification and rectification easier, boosting their marketability.
Due to the various advantages it offers, such as remote payment options, real-time rapid tracking of payments, 24/7 access to payment information, and enhanced efficiency, there is a growing need for automation in accounts payable. Identification of cash patterns through automation improves security and fraud detection while granting complete control over invoice approvals.
Request a Sample of this Report @
https://www.futuremarketinsights.com/reports/sample/rep-gb-14603
Key Takeaways:
- Global account payable automation market to reach US$ 6.7 Billion by 2032.
- By Component, Solutions are projected to grow at a CAGR of 10% during the forecast period.
- S. market is estimated to reach US$ 2.4 Billion while growing at a CAGR of 9.7% during the forecast period.
- By Deployment Type, On-premises deployments will grow at a CAGR of 9.6% during the forecast period.
- China is expected to reach a CAGR of 9.3% with a market value of US$ 458.3 Billion in 2032 during the forecast period.
- The Japanese market is expected to reach a market value of US$ 384.4 Billion by 2032.
Competitive Landscape
- Key Players that have been profiled in the report are SAP, Sage, Tipalti, Freshbooks, FIS, Zycus, Bottomline Technologies, Coupa Software, Comarch, and FinancialForce. In an effort to emerge as a recognized and profitable business, firms continue to adopt a strategy that includes new product launches, R&D, patents, approvals, events, product innovations, joint ventures, partnership agreements, digital marketing, collaborations, mergers,, and acquisitions.
- In May 2021, Repay Holdings Corporation integrated its account payable automation offering into Sage 100. With this new product offering, Sage now also offers connections to Sage 300 and Sage X3 products. With its integration of accounts payable solutions to Sage 100, Repay continues its commitment to helping businesses reduce costs and optimize processes. Companies can access the new payment option through APS Payments, which offers omnichannel solutions for corporate payments.
- In December 2021, Tipalti announced that it has raised $270 million in a Series F funding round that values the company at $8.3 billion. In addition, Tipalti plans on using the new capital to focus on customer operations and global expansion. Furthermore, the company plans to fill positions spanning its product, engineering, sales, and marketing teams.
Ask An Analyst @
https://www.futuremarketinsights.com/ask-the-analyst/rep-gb-14603
More Valuable Insights Available
Future Market Insights, in its new offering, presents an unbiased analysis of the global accounts payable automation market, presenting historical market data (2015-2021) and forecast statistics for the period of 2022-2032.
Key Segments Covered in the Accounts Payable Automation Market
By Component:
- Solution
- Services
By Deployment Type:
- On-premises
- Cloud
By Organization Size:
- SMEs
- Large Enterprises
By Vertical:
- Consumer Goods and Retail
- BFSI
- Information Technology (IT) and Telecom
- Manufacturing
- Healthcare
- Energy and Utilities
- Others
By Region:
- North America
- Europe
- Asia Pacific
- The Middle East and Africa
- Latin America
Table of Content
1. Executive Summary | Accounts Payable Automation Market
1.1. Global Market Outlook
1.2. Summary of Statistics
1.3. Key Market Characteristics & Attributes
1.4. FMI Analysis and Recommendations
2. Market Overview
2.1. Market Coverage
2.2. Market Definition
3. Market Risks and Trends Assessment
3.1. Risk Assessment
3.1.1. COVID-19 Crisis and Impact on Accounts Payable Automation
3.1.2. COVID-19 Impact Benchmark with Previous Crisis
3.1.3. Impact on Market Value (US$ Million)
3.1.4. Assessment by Key Countries
3.1.5. Assessment by Key Market Segments
3.1.6. Action Points and Recommendation for Suppliers
3.2. Key Trends Impacting the Market
3.3. Formulation and Product Development Trends
Request for Customization @
https://www.futuremarketinsights.com/customization-available/rep-gb-14603
About Future Market Insights, Inc.
Future Market Insights, Inc. (ESOMAR certified, Stevie Award – recipient market research organization, and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favour the market growth in various segments on the basis of Source, Application, Sales Channel, and End Use over the next 10 years.
Contact Us:
Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
For Sales Enquiries: sales@futuremarketinsights.com
