The Asia Pacific is witnessing significant growth due to the rapid infrastructure development and government investments in digital infrastructure. The low-value, manual processes that makeup accounts receivable are automated using digital technology through a process known as accounts receivable automation.
The Association of Southeast Asian Nations (ASEAN) such as Indonesia, Malaysia, Philippines, and Singapore are concentrating on the three crucial aspects of development, including digital infrastructure, digital training and development, and digital finance, which supports the accounts receivable automation market demand.
Government investments supporting the development of digital infrastructure in countries like India and China further contribute to the market growth. In 2021, the Indian government invested 1.1% of India’s GDP in digital infrastructure, and the “Made In China 2025” initiative to improve manufacturing automation drive the market size of accounts receivable automation.
Continuous improvement in digital interfaces also aids the market. In June 2023, Oracle Corporation’s (NYSE: ORCL) Oracle NetSuite announced NetSuite Account Reconciliation, a tool designed to assist businesses in streamlining the intricate process of reconciling balance sheet accounts. NetSuite Account Reconciliation, a component of NetSuite's cloud ERP solution, assists clients in streamlining and automating the reconciliation process, fortifying internal financial controls, generating more precise financial statements, and accelerating the close.
Accounts payable, accounts receivable, bank and credit card transactions, prepaid accounts, accruals and fixed asset accounts, intercompany transactions, and other balance sheet accounts can all have their reconciliation processes automated by the new solution. The new solution aims to improve the accuracy of financial statements and guarantee that all the information is in the correct location for worldwide auditability and that reconciliations are not lost.
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Market Analysis by Component, Deployment Mode, Organisation Size, End User, and Region:
- The market, based on component, can be divided into solutions and services.
- The different deployment modes of accounts receivable automation include on-premises and cloud.
- Based on organisation size, the market can be categorised into small and medium enterprises and large enterprises.
- The various end users for accounts receivable automation include BFSI, IT and telecom, manufacturing, healthcare, retail and consumer goods, and transportation and logistics, among others.
- The major regional markets for accounts receivable automation include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
Key Findings of the Report:
- The rising demand for reduced cost and increased work efficiency among end-users propel the accounts receivable automation market growth. Accounts receivable automation processes facilitate overall cash flow and invoice processing without any error.
- Organisations can handle client data more effectively by integrating ERP and accounts receivable automation systems. The whole accounts receivable process from the preparation of invoices to the collection of payments is streamlined via automation to increase management efficiency and client relationships.
- The reduction in manual labour to increase business profitability and the booming start-up culture in several regions fuels the market growth of accounts receivable automation.
- The escalating logistics and e-commerce sectors drive the adoption of account receivable automation solutions. Such solutions automate the entire order-to-cash process intelligently to lower DSO and increase the productivity of your B2B finance team.
Key Offerings of the Report:
- The EMR report gives an overview of the global accounts receivable automation market for the periods (2018-2023) and (2024-2032).
- The report also offers the historical (2018-2023) and forecast (2024-2032) markets for the components, deployment modes, organisation sizes, end users, and major regions of accounts receivable automation.
- The report analyses the market dynamics, covering the key demand and price indicators in the market, along with an assessment of the SWOT and Porter’s Five Forces models.
The major 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. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.
Key Highlights of the Report
| REPORT FEATURES |
DETAILS |
| Base Year |
2023 |
| Historical Period |
2018-2023 |
| Forecast Period |
2024-2032 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
- Component
- Deployment Mode
- Organisation Size
- End User
- Region
|
| Breakup by Component |
|
| Breakup by Deployment Mode |
|
| Breakup by Organisation Size |
- Small and Medium Enterprises
- Large Enterprises
|
| Breakup by End User |
- BFSI
- IT and Telecom
- Manufacturing
- Healthcare
- Retail and Consumer Goods
- Transportation and Logistics
- Others
|
| Breakup by Region |
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
|
| Market Dynamics |
- SWOT Analysis
- Porter's Five Forces Analysis
- Key Indicators for Demand
- Key Indicators for Price
|
| Competitive Landscape |
- Market Structure
- Company Profiles
- Company Overview
- Product Portfolio
- Demographic Reach and Achievements
- Certifications
|
| Companies Covered |
- SAP SE
- Oracle Corporation
- Kofax, Inc
- Quadient (Yaypay, Inc)
- SK Global Software
- Corcentric, LLC
- HighRadius Corporation
- Qvalia Group AB
- MHC Software Holdings, Inc
- Bill.com, LLC
- Others
|
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