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Accounts Receivable Automation Market

Global Accounts Receivable Automation Market Analysis: By Component: Solutions, Services; By Deployment Mode: On-Premises, Cloud; By Organisation Size: Small and Medium Enterprises, Large Enterprises; By End User: BFSI, IT and Telecom, Manufacturing, Healthcare, Others; Regional Analysis; Competitive Landscape; 2024-2032

Global Accounts Receivable Automation Market Outlook

The global accounts receivable automation market size reached a value of approximately USD 3.64 billion in 2023. The market is assessed to grow at a CAGR of 13.9% between 2024 and 2032, reaching a value of around USD 11.76 billion by 2032.

 

Key Takeaways

  • Growing online sales require efficient automated invoice processing to reduce errors and enhance cash flow.
  • AI, ML, and cloud computing advancements enable quicker, more accurate invoice handling, reducing manual workload.
  • Increasing preference for cloud-based solutions in accounts receivable boosts collaboration, efficiency, and flexibility.

 

Accounts receivable automation refers to replacing manual tasks of collection of payment and invoice generation for customers with automated systems, which, in turn, allows a company to save costs and enhance time efficiency. The adoption of accounts receivable automation solutions has modernised operations and streamlined financial transactions. Accounts receivable automation also reduces the risk of manual error and frees up human resources for other tasks.

 

The accounts receivable automation market is poised for significant growth, driven by a focus on reducing Days Sales Outstanding (DSO) and enhancing cash flow. This trend, coupled with the cost and time efficiencies of automated solutions, is propelling the market expansion. Automation addresses the error-prone and costly nature of manual processes, thereby improving liquidity management and credit decision-making.

 

accounts receivable automation market

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Key Trends and Developments

Flourishing e-commerce sector; technological advancements, rising demand for time and cost-efficiency, and surging adoption of cloud-based solutions are positively impacting the market growth

 

22nd Feb 2023

BlackLine partnered with Kofax to integrate Tungsten Network's e-invoicing into its AR automation solutions, enhancing electronic invoice capabilities.

 

Oct 10th 2023

BlackLine expanded AR automation solutions with new e-Invoice Presentment and Payment capabilities, following the acquisition of electronic invoicing firm Data Interconnect.

 

Dec 6th, 2023

Paymerang launched a new Receivables Automation product, enhancing AR processes and offering real-time cash flow insights.

 

July 24th 2023

Mastercard introduced Receivables Manager, an automated solution developed with Billtrust, to streamline virtual card payments for businesses.

 

Growing e-commerce sector

Increased online transactions demand efficient, automated invoice processing and payment tracking to reduce errors and speed up cash flow.

 

Technological advancements

Advancements in AI, ML, and cloud computing enable more accurate, faster invoice processing and payment reconciliation, enhancing efficiency and reducing manual efforts.

 

Cost and time efficiency offered by automation

Automation in accounts receivable reduces errors, lowers expenses, and enhances efficiency, positively impacting liquidity management and credit decision-making processes.

 

Rising demand for cloud-based solutions

Cloud-based accounts receivable automation is gaining popularity as it enhances collaboration and increases efficiency, stability, and flexibility in the accounts receivable workflow.

 

The accounts receivable automation market demand is significantly influenced by the burgeoning e-commerce sector. As online transactions continue to rise, there is an escalating demand for efficient, automated solutions in invoice processing and payment tracking. This automation is crucial in reducing errors and accelerating cash flow, a vital aspect of the fast-paced e-commerce industry. Enhanced efficiency in handling large volumes of transactions not only streamlines operations but also strengthens the financial health of businesses engaging in digital trade.

 

Simultaneously, technological advancements are playing a pivotal role in shaping the accounts receivable automation market growth. Innovations in AI, machine learning, and cloud computing have revolutionised accounts receivable processes, leading to more accurate and faster invoice processing and payment reconciliation. This technological evolution is significantly reducing the need for manual intervention, thereby enhancing overall operational efficiency.

 

Moreover, the shift towards cloud-based solutions is evident, driven by their ability to foster better collaboration, provide scalability, and offer increased stability and flexibility in financial workflows. These factors collectively contribute to the robust growth and evolving dynamics of the accounts receivable automation market.

 

accounts receivable automation market by segments

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Market Segmentation

“Global Accounts Receivable Automation Market Report and Forecast 2024-2032” offers a detailed analysis of the market based on the following segments:

 

Market Breakup by Component

  • Solutions
  • Services

 

Market Bifurcation by Deployment Mode

  • On-Premises
  • Cloud

 

Market Breakup by Organisation Size

  • Small and Medium Enterprises
  • Large Enterprises

 

Accounts Receivable Automation Market Division by End User

  • BFSI
  • IT and Telecom
  • Manufacturing
  • Healthcare
  • Retail and Consumer Goods
  • Transportation and Logistics
  • Others

 

Market Breakup by Region

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East and Africa

 

The increasing demand for cloud-based solutions has substantially propelled the growth of the market

According to the global accounts receivable automation market analysis, companies have been increasingly favouring cloud-based deployment over on-premise solutions. Cloud-based solutions generally require a lower upfront investment compared to on-premise systems. Cloud solutions offer more robust data recovery and business continuity options. Data is stored off-site and can be backed up regularly, reducing the risk of data loss due to local hardware failures or disasters.

 

Despite these advantages, some larger enterprises and organisations in highly regulated industries (like finance or healthcare) may still prefer on-premise solutions due to their specific requirements for control, security, and compliance.

 

Increasing emphasis by SMEs on cloud-based efficiency is expected to be a major factor for accounts receivable automation market expansion

SMEs are increasingly adopting AR automation services. The key reasons include the need for efficiency, cost savings, and the ability to compete with larger companies. SMEs are more inclined towards cloud-based AR automation solutions due to lower upfront costs, scalability, and ease of implementation.

 

Large enterprises typically have more complex financial systems and therefore require AR automation solutions that can integrate seamlessly with their existing ERP and CRM systems. These organisations often need more customisable solutions to fit their unique processes and compliance requirements.

 

accounts receivable automation market by region

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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.

 

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
  • Solutions
  • Services
Breakup by Deployment Mode
  • On-Premises
  • Cloud
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
    • United States of America 
    • Canada
  • Europe
    • United Kingdom
    • Germany
    • France
    • Italy
    • Others
  • Asia Pacific
    • China
    • Japan
    • India
    • ASEAN
    • Australia
    • Others
  • Latin America
    • Brazil
    • Argentina
    • Mexico
    • Others
  • Middle East and Africa
    • Saudi Arabia
    • United Arab Emirates
    • Nigeria
    • South Africa
    • Others
Market Dynamics
  • SWOT Analysis
  • Porter's Five Forces
  • 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

 

*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.

1    Preface
2    Report Coverage – Key Segmentation and Scope
3    Report Description

    3.1    Market Definition and Outlook
    3.2    Properties and Applications
    3.3    Market Analysis
    3.4    Key Players
4    Key Assumptions
5    Executive Summary

    5.1    Overview
    5.2    Key Drivers    
    5.3    Key Developments
    5.4    Competitive Structure
    5.5    Key Industrial Trends
6    Market Snapshot
    6.1    Global
    6.2    Regional
7    Opportunities and Challenges in the Market
8    Global Accounts Receivable Automation Market Analysis

    8.1    Key Industry Highlights
    8.2    Global Accounts Receivable Automation Historical Market (2018-2023) 
    8.3    Global Accounts Receivable Automation Market Forecast (2024-2032)
    8.4    Global Accounts Receivable Automation Market by Component
        8.4.1    Solutions 
            8.4.1.1    Historical Trend (2018-2023)
            8.4.1.2    Forecast Trend (2024-2032)
        8.4.2    Services
            8.4.2.1    Historical Trend (2018-2023)
            8.4.2.2    Forecast Trend (2024-2032)
    8.5    Global Accounts Receivable Automation Market by Deployment Mode
        8.5.1    On-Premises
            8.5.1.1    Historical Trend (2018-2023)
            8.5.1.2    Forecast Trend (2024-2032)
        8.5.2    Cloud
            8.5.2.1    Historical Trend (2018-2023)
            8.5.2.2    Forecast Trend (2024-2032)
    8.6    Global Accounts Receivable Automation Market by Organisation Size
        8.6.1    Small and Medium Enterprises
            8.6.1.1    Historical Trend (2018-2023)
            8.6.1.2    Forecast Trend (2024-2032)
        8.6.2    Large Enterprises
            8.6.2.1    Historical Trend (2018-2023)
            8.6.2.2    Forecast Trend (2024-2032)
    8.7    Global Accounts Receivable Automation Market by End User
        8.7.1    BFSI
            8.7.1.1    Historical Trend (2018-2023)
            8.7.1.2    Forecast Trend (2024-2032)
        8.7.2    IT and Telecom
            8.7.2.1    Historical Trend (2018-2023)
            8.7.2.2    Forecast Trend (2024-2032)
        8.7.3    Manufacturing
            8.7.3.1    Historical Trend (2018-2023)
            8.7.3.2    Forecast Trend (2024-2032)
        8.7.4    Healthcare
            8.7.4.1    Historical Trend (2018-2023)
            8.7.4.2    Forecast Trend (2024-2032)
        8.7.5    Retail and Consumer Goods
            8.7.5.1    Historical Trend (2018-2023)
            8.7.5.2    Forecast Trend (2024-2032)
        8.7.6    Transportation and Logistics
            8.7.6.1    Historical Trend (2018-2023)
            8.7.6.2    Forecast Trend (2024-2032)
        8.7.7    Others
    8.8    Global Accounts Receivable Automation Market by Region
        8.8.1    North America
            8.8.1.1    Historical Trend (2018-2023) 
            8.8.1.2    Forecast Trend (2024-2032)
        8.8.2    Europe
            8.8.2.1    Historical Trend (2018-2023) 
            8.8.2.2    Forecast Trend (2024-2032)
        8.8.3    Asia Pacific
            8.8.3.1    Historical Trend (2018-2023) 
            8.8.3.2    Forecast Trend (2024-2032)
        8.8.4    Latin America
            8.8.4.1    Historical Trend (2018-2023) 
            8.8.4.2    Forecast Trend (2024-2032)
        8.8.5    Middle East and Africa
            8.8.5.1    Historical Trend (2018-2023) 
            8.8.5.2    Forecast Trend (2024-2032)
9    North America Accounts Receivable Automation Market Analysis
    9.1    United States of America
        9.1.1    Historical Trend (2018-2023) 
        9.1.2    Forecast Trend (2024-2032)
    9.2    Canada
        9.2.1    Historical Trend (2018-2023) 
        9.2.2    Forecast Trend (2024-2032)
10    Europe Accounts Receivable Automation Market Analysis
    10.1    United Kingdom
        10.1.1    Historical Trend (2018-2023) 
        10.1.2    Forecast Trend (2024-2032)
    10.2    Germany
        10.2.1    Historical Trend (2018-2023) 
        10.2.2    Forecast Trend (2024-2032)
    10.3    France
        10.3.1    Historical Trend (2018-2023) 
        10.3.2    Forecast Trend (2024-2032)
    10.4    Italy
        10.4.1    Historical Trend (2018-2023) 
        10.4.2    Forecast Trend (2024-2032)
    10.5    Others
11    Asia Pacific Accounts Receivable Automation Market Analysis
    11.1    China
        11.1.1    Historical Trend (2018-2023) 
        11.1.2    Forecast Trend (2024-2032)
    11.2    Japan
        11.2.1    Historical Trend (2018-2023) 
        11.2.2    Forecast Trend (2024-2032)
    11.3    India
        11.3.1    Historical Trend (2018-2023) 
        11.3.2    Forecast Trend (2024-2032)
    11.4    ASEAN
        11.4.1    Historical Trend (2018-2023) 
        11.4.2    Forecast Trend (2024-2032)
    11.5    Australia
        11.5.1    Historical Trend (2018-2023) 
        11.5.2    Forecast Trend (2024-2032)
    11.6    Others
12    Latin America Accounts Receivable Automation Market Analysis
    12.1    Brazil
        12.1.1    Historical Trend (2018-2023) 
        12.1.2    Forecast Trend (2024-2032)
    12.2    Argentina
        12.2.1    Historical Trend (2018-2023) 
        12.2.2    Forecast Trend (2024-2032)
    12.3    Mexico
        12.3.1    Historical Trend (2018-2023) 
        12.3.2    Forecast Trend (2024-2032)
    12.4    Others
13    Middle East and Africa Accounts Receivable Automation Market Analysis
    13.1    Saudi Arabia
        13.1.1    Historical Trend (2018-2023) 
        13.1.2    Forecast Trend (2024-2032)
    13.2    United Arab Emirates
        13.2.1    Historical Trend (2018-2023) 
        13.2.2    Forecast Trend (2024-2032)
    13.3    Nigeria
        13.3.1    Historical Trend (2018-2023) 
        13.3.2    Forecast Trend (2024-2032)
    13.4    South Africa
        13.4.1    Historical Trend (2018-2023) 
        13.4.2    Forecast Trend (2024-2032)
    13.5    Others
14    Market Dynamics
    14.1    SWOT Analysis
        14.1.1    Strengths
        14.1.2    Weaknesses
        14.1.3    Opportunities
        14.1.4    Threats
    14.2    Porter’s Five Forces Analysis
        14.2.1    Supplier’s Power
        14.2.2    Buyer’s Power
        14.2.3    Threat of New Entrants
        14.2.4    Degree of Rivalry
        14.2.5    Threat of Substitutes
    14.3    Key Indicators for Demand
    14.4    Key Indicators for Price
15    Competitive Landscape
    15.1    Market Structure
    15.2    Company Profiles
        15.2.1    SAP SE
            15.2.1.1    Company Overview
            15.2.1.2    Product Portfolio
            15.2.1.3    Demographic Reach and Achievements
            15.2.1.4    Certifications
        15.2.2    Oracle Corporation
            15.2.2.1    Company Overview
            15.2.2.2    Product Portfolio
            15.2.2.3    Demographic Reach and Achievements
            15.2.2.4    Certifications
        15.2.3    Kofax, Inc
            15.2.3.1    Company Overview
            15.2.3.2    Product Portfolio
            15.2.3.3    Demographic Reach and Achievements
            15.2.3.4    Certifications
        15.2.4    Quadient (Yaypay, Inc)
            15.2.4.1    Company Overview
            15.2.4.2    Product Portfolio
            15.2.4.3    Demographic Reach and Achievements
            15.2.4.4    Certifications
        15.2.5    SK Global Software
            15.2.5.1    Company Overview
            15.2.5.2    Product Portfolio
            15.2.5.3    Demographic Reach and Achievements
            15.2.5.4    Certifications
        15.2.6    Corcentric, LLC
            15.2.6.1    Company Overview
            15.2.6.2    Product Portfolio
            15.2.6.3    Demographic Reach and Achievements
            15.2.6.4    Certifications
        15.2.7    HighRadius Corporation
            15.2.7.1    Company Overview
            15.2.7.2    Product Portfolio
            15.2.7.3    Demographic Reach and Achievements
            15.2.7.4    Certifications
        15.2.8    Qvalia Group AB
            15.2.8.1    Company Overview
            15.2.8.2    Product Portfolio
            15.2.8.3    Demographic Reach and Achievements
            15.2.8.4    Certifications
        15.2.9    MHC Software Holdings, Inc
            15.2.9.1    Company Overview
            15.2.9.2    Product Portfolio
            15.2.9.3    Demographic Reach and Achievements
            15.2.9.4    Certifications
        15.2.10    Bill.com, LLC
            15.2.10.1    Company Overview
            15.2.10.2    Product Portfolio
            15.2.10.3    Demographic Reach and Achievements
            15.2.10.4    Certifications
        15.2.11    Others
16    Key Trends and Developments in the Market

 

List of Key Figures and Tables

1.    Global Accounts Receivable Automation Market: Key Industry Highlights, 2018 and 2032 
2.    Global Accounts Receivable Automation Historical Market: Breakup by Component (USD Million), 2018-2023 
3.    Global Accounts Receivable Automation Market Forecast: Breakup by Component (USD Million), 2024-2032
4.    Global Accounts Receivable Automation Historical Market: Breakup by Deployment Mode (USD Million), 2018-2023 
5.    Global Accounts Receivable Automation Market Forecast: Breakup by Deployment Mode (USD Million), 2024-2032
6.    Global Accounts Receivable Automation Historical Market: Breakup by Organisation Size (USD Million), 2018-2023 
7.    Global Accounts Receivable Automation Market Forecast: Breakup by Organisation Size (USD Million), 2024-2032
8.    Global Accounts Receivable Automation Historical Market: Breakup by End User (USD Million), 2018-2023 
9.    Global Accounts Receivable Automation Market Forecast: Breakup by End User (USD Million), 2024-2032
10.    Global Accounts Receivable Automation Historical Market: Breakup by Region (USD Million), 2018-2023 
11.    Global Accounts Receivable Automation Market Forecast: Breakup by Region (USD Million), 2024-2032
12.    North America Accounts Receivable Automation Historical Market: Breakup by Country (USD Million), 2018-2023 
13.    North America Accounts Receivable Automation Market Forecast: Breakup by Country (USD Million), 2024-2032 
14.    Europe Accounts Receivable Automation Historical Market: Breakup by Country (USD Million), 2018-2023 
15.    Europe Accounts Receivable Automation Market Forecast: Breakup by Country (USD Million), 2024-2032 
16.    Asia Pacific Accounts Receivable Automation Historical Market: Breakup by Country (USD Million), 2018-2023 
17.    Asia Pacific Accounts Receivable Automation Market Forecast: Breakup by Country (USD Million), 2024-2032 
18.    Latin America Accounts Receivable Automation Historical Market: Breakup by Country (USD Million), 2018-2023 
19.    Latin America Accounts Receivable Automation Market Forecast: Breakup by Country (USD Million), 2024-2032 
20.    Middle East and Africa Accounts Receivable Automation Historical Market: Breakup by Country (USD Million), 2018-2023 
21.    Middle East and Africa Accounts Receivable Automation Market Forecast: Breakup by Country (USD Million), 2024-2032 
22.    Global Accounts Receivable Automation Market Structure

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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