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Global Accounts Receivable Automation Market Share, Size, Analysis, Forecast: 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, Others; Regional Analysis; Competitive Landscape; 2023-2028
Global Accounts Receivable Automation Market Outlook
The global accounts receivable automation market size reached a value of approximately USD 3.2 billion in 2022. The market is further expected to grow at a CAGR of 13.9% between 2023 and 2028, reaching a value of USD 6.99 billion by 2028.
Key Trends in the Market
Accounts receivable automation is refers to replacing manual tasks of collection of payment and invoice generation for customers with automated systems, this in turn allows the company to save costs and is time efficient. 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 key accounts receivable automation market trends include increased focus on reduction of days sales outstanding (DSO) and improvement of cashflow. This trend is expected to propel the growth of the market for accounts receivable automation across the globe over the forecast period.
- Another crucial trend aiding the accounts receivable automation market growth includes the cost and time efficient nature of such solutions. Manual accounts receivable processes are prone to errors, expensive, and inefficient; such disadvantages have a negative impact on liquidity management and credit decisions, among others.
- The rising demand for cloud-based accounts receivable automation is also contributing to the market growth of accounts receivable market automation market. Cloud based solutions boost collaboration among all the parties involved in the accounts receivable workflow, this in turn increases the efficiency, stability, and flexibility in accounts receivable processes.
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Accounts Receivable Automation Market Analysis
On the basis of component, the market is bifurcated into solutions and services. Based on deployment mode, the market is segmented into on-premises and cloud. By organisation size, the market is categorised into small and medium enterprises and large enterprises. On the basis of end user, the market is divided into BFSI, IT and telecom, manufacturing, healthcare, retail and consumer goods, and transportation and logistics, among others. Based on region, the market is segregated into North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis. The report gives a detailed analysis of the following key players in the accounts receivable automation market, covering their competitive landscape and latest developments like mergers, acquisitions, investments, and expansion plans.
- 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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Accounts Receivable Automation Market Share by Deployment Mode
Cloud deployment modes for accounts receivable automation are anticipated to grow at a significant rate over the forecast period. This growth can be attributed to the efficient and cost-effective nature of cloud services for management of large data issues. Other advantages associated with cloud deployment modes include adaptability, scalability, and easy deployment, among others, and these advantages have increased the adoption of cloud across various industries. With cloud deployments, companies can remotely monitor and track their accounts in real-time, providing them with greater confidence on the automation process. Ease of implementation is also bolstering the popularity of cloud deployment mode for accounts receivable automation across major organisations, supporting the overall growth of the market.
Accounts Receivable Automation Market Share by Region
The Asia Pacific region is expected to witness exponential growth in the market for accounts receivable automation 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 includes reduced need for manual labour and improved accuracy in accounting processes.
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Competitive Landscape
SAP SE is a software development company that was established in 1972 and is headquartered in Baden Wurttemberg, Germany. The company develops enterprise software for managing customer relations and business operations, and are one of the world’s leading enterprise resource planning software vendors. They also sell human capital management software and relationship management software, among others, to their customers.
Oracle Corporation is an IT services and consulting company that was founded in 1977 and is based out of Texas in the United States. The company sells enterprise software products, database software technology, and cloud engineered systems, among others. They are known for offering solutions that facilitate high performance, cost efficiency, innovation, sustainable growth, and security.
Kofax, Inc is a software development company that was established in 1985 and is headquartered in California, United States. They are known for providing intelligent automation software, enabling automation of businesses and improvement in business workflows by simplifying document and data handling. Some of their products include robotic process automation and data integration.
Other market players include Quadient (Yaypay, Inc), SK Global Software, Corcentric, LLC, HighRadius Corporation, Qvalia Group AB, MHC Software Holdings, Inc, and Bill.com, LLC, among others.
Key Highlights of the Report
| REPORT FEATURES | DETAILS |
|---|---|
| Base Year | 2022 |
| Historical Period | 2018-2022 |
| Forecast Period | 2023-2028 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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| Breakup by Component |
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| Breakup by Deployment Mode |
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| Breakup by Organisation Size |
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| Breakup by End User |
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| Breakup by Region |
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| Market Dynamics |
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| Competitive Landscape |
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| Companies Covered |
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*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 (2018-2022)
8.3 Global Accounts Receivable Automation Market Forecast (2023-2028)
8.4 Global Accounts Receivable Automation Market by Component
8.4.1 Solutions
8.4.1.1 Historical Trend (2018-2022)
8.4.1.2 Forecast Trend (2023-2028)
8.4.2 Services
8.4.2.1 Historical Trend (2018-2022)
8.4.2.2 Forecast Trend (2023-2028)
8.5 Global Accounts Receivable Automation Market by Deployment Mode
8.5.1 On-Premises
8.5.1.1 Historical Trend (2018-2022)
8.5.1.2 Forecast Trend (2023-2028)
8.5.2 Cloud
8.5.2.1 Historical Trend (2018-2022)
8.5.2.2 Forecast Trend (2023-2028)
8.6 Global Accounts Receivable Automation Market by Organisation Size
8.6.1 Small and Medium Enterprises
8.6.1.1 Historical Trend (2018-2022)
8.6.1.2 Forecast Trend (2023-2028)
8.6.2 Large Enterprises
8.6.2.1 Historical Trend (2018-2022)
8.6.2.2 Forecast Trend (2023-2028)
8.7 Global Accounts Receivable Automation Market by End User
8.7.1 BFSI
8.7.1.1 Historical Trend (2018-2022)
8.7.1.2 Forecast Trend (2023-2028)
8.7.2 IT and Telecom
8.7.2.1 Historical Trend (2018-2022)
8.7.2.2 Forecast Trend (2023-2028)
8.7.3 Manufacturing
8.7.3.1 Historical Trend (2018-2022)
8.7.3.2 Forecast Trend (2023-2028)
8.7.4 Healthcare
8.7.4.1 Historical Trend (2018-2022)
8.7.4.2 Forecast Trend (2023-2028)
8.7.5 Retail and Consumer Goods
8.7.5.1 Historical Trend (2018-2022)
8.7.5.2 Forecast Trend (2023-2028)
8.7.6 Transportation and Logistics
8.7.6.1 Historical Trend (2018-2022)
8.7.6.2 Forecast Trend (2023-2028)
8.7.7 Others
8.8 Global Accounts Receivable Automation Market by Region
8.8.1 North America
8.8.1.1 Historical Trend (2018-2022)
8.8.1.2 Forecast Trend (2023-2028)
8.8.2 Europe
8.8.2.1 Historical Trend (2018-2022)
8.8.2.2 Forecast Trend (2023-2028)
8.8.3 Asia Pacific
8.8.3.1 Historical Trend (2018-2022)
8.8.3.2 Forecast Trend (2023-2028)
8.8.4 Latin America
8.8.4.1 Historical Trend (2018-2022)
8.8.4.2 Forecast Trend (2023-2028)
8.8.5 Middle East and Africa
8.8.5.1 Historical Trend (2018-2022)
8.8.5.2 Forecast Trend (2023-2028)
9 North America Accounts Receivable Automation Market Analysis
9.1 United States of America
9.1.1 Historical Trend (2018-2022)
9.1.2 Forecast Trend (2023-2028)
9.2 Canada
9.2.1 Historical Trend (2018-2022)
9.2.2 Forecast Trend (2023-2028)
10 Europe Accounts Receivable Automation Market Analysis
10.1 United Kingdom
10.1.1 Historical Trend (2018-2022)
10.1.2 Forecast Trend (2023-2028)
10.2 Germany
10.2.1 Historical Trend (2018-2022)
10.2.2 Forecast Trend (2023-2028)
10.3 France
10.3.1 Historical Trend (2018-2022)
10.3.2 Forecast Trend (2023-2028)
10.4 Italy
10.4.1 Historical Trend (2018-2022)
10.4.2 Forecast Trend (2023-2028)
10.5 Others
11 Asia Pacific Accounts Receivable Automation Market Analysis
11.1 China
11.1.1 Historical Trend (2018-2022)
11.1.2 Forecast Trend (2023-2028)
11.2 Japan
11.2.1 Historical Trend (2018-2022)
11.2.2 Forecast Trend (2023-2028)
11.3 India
11.3.1 Historical Trend (2018-2022)
11.3.2 Forecast Trend (2023-2028)
11.4 ASEAN
11.4.1 Historical Trend (2018-2022)
11.4.2 Forecast Trend (2023-2028)
11.5 Australia
11.5.1 Historical Trend (2018-2022)
11.5.2 Forecast Trend (2023-2028)
11.6 Others
12 Latin America Accounts Receivable Automation Market Analysis
12.1 Brazil
12.1.1 Historical Trend (2018-2022)
12.1.2 Forecast Trend (2023-2028)
12.2 Argentina
12.2.1 Historical Trend (2018-2022)
12.2.2 Forecast Trend (2023-2028)
12.3 Mexico
12.3.1 Historical Trend (2018-2022)
12.3.2 Forecast Trend (2023-2028)
12.4 Others
13 Middle East and Africa Accounts Receivable Automation Market Analysis
13.1 Saudi Arabia
13.1.1 Historical Trend (2018-2022)
13.1.2 Forecast Trend (2023-2028)
13.2 United Arab Emirates
13.2.1 Historical Trend (2018-2022)
13.2.2 Forecast Trend (2023-2028)
13.3 Nigeria
13.3.1 Historical Trend (2018-2022)
13.3.2 Forecast Trend (2023-2028)
13.4 South Africa
13.4.1 Historical Trend (2018-2022)
13.4.2 Forecast Trend (2023-2028)
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 2028
2. Global Accounts Receivable Automation Historical Market: Breakup by Component (USD Million), 2018-2022
3. Global Accounts Receivable Automation Market Forecast: Breakup by Component (USD Million), 2023-2028
4. Global Accounts Receivable Automation Historical Market: Breakup by Deployment Mode (USD Million), 2018-2022
5. Global Accounts Receivable Automation Market Forecast: Breakup by Deployment Mode (USD Million), 2023-2028
6. Global Accounts Receivable Automation Historical Market: Breakup by Organisation Size (USD Million), 2018-2022
7. Global Accounts Receivable Automation Market Forecast: Breakup by Organisation Size (USD Million), 2023-2028
8. Global Accounts Receivable Automation Historical Market: Breakup by End User (USD Million), 2018-2022
9. Global Accounts Receivable Automation Market Forecast: Breakup by End User (USD Million), 2023-2028
10. Global Accounts Receivable Automation Historical Market: Breakup by Region (USD Million), 2018-2022
11. Global Accounts Receivable Automation Market Forecast: Breakup by Region (USD Million), 2023-2028
12. North America Accounts Receivable Automation Historical Market: Breakup by Country (USD Million), 2018-2022
13. North America Accounts Receivable Automation Market Forecast: Breakup by Country (USD Million), 2023-2028
14. Europe Accounts Receivable Automation Historical Market: Breakup by Country (USD Million), 2018-2022
15. Europe Accounts Receivable Automation Market Forecast: Breakup by Country (USD Million), 2023-2028
16. Asia Pacific Accounts Receivable Automation Historical Market: Breakup by Country (USD Million), 2018-2022
17. Asia Pacific Accounts Receivable Automation Market Forecast: Breakup by Country (USD Million), 2023-2028
18. Latin America Accounts Receivable Automation Historical Market: Breakup by Country (USD Million), 2018-2022
19. Latin America Accounts Receivable Automation Market Forecast: Breakup by Country (USD Million), 2023-2028
20. Middle East and Africa Accounts Receivable Automation Historical Market: Breakup by Country (USD Million), 2018-2022
21. Middle East and Africa Accounts Receivable Automation Market Forecast: Breakup by Country (USD Million), 2023-2028
22. Global Accounts Receivable Automation Market Structure
Key Questions Answered in the Report
The market size reached a value of approximately USD 3.2 billion in 2022.
The market is expected to grow at a CAGR of 13.9% between 2023 and 2028.
The market is estimated to witness a healthy growth in the forecast period of 2023-2028 to reach USD 6.99 billion by 2028.
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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