Global Accounts Receivable Automation Market Outlook
According to the report by Expert Market Research (EMR), the global accounts receivable automation market size reached a value of USD 3.64 billion in 2023. Aided by factors such as the need for enhanced efficiency, accuracy, and cost savings in financial operations, the market is projected to further grow at a CAGR of 13.9% between 2024 and 2032 to reach a value of USD 11.76 billion by 2032.
Accounts receivable automation refers to the use of technology-driven solutions and software platforms to streamline and optimise the process of invoicing, payment collection, credit management, and cash application. By automating repetitive tasks, minimising manual intervention, and leveraging data analytics, organisations can accelerate cash flow, reduce days sales outstanding (DSO), mitigate credit risk, and enhance overall financial visibility and control.
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One of the prominent trends driving the accounts receivable automation market growth is the adoption of cloud-based software-as-a-service (SaaS) solutions. Cloud-based platforms offer scalability, flexibility, and accessibility, allowing organisations to deploy and manage accounts receivable processes remotely and securely. With the growing demand for remote work capabilities and real-time data access, cloud-based accounts receivable automation solutions are becoming increasingly popular among businesses of all sizes and sectors.
Another significant trend driving the accounts receivable automation market is the integration of artificial intelligence (AI) and machine learning (ML) technologies. AI-powered algorithms enable intelligent invoice processing, predictive analytics, and dynamic credit scoring, helping organizations optimise credit decisions, identify payment trends, and prioritise collections activities. By leveraging AI and ML capabilities, businesses can automate routine tasks, improve decision-making accuracy, and drive operational efficiencies in accounts receivable management, consequently driving up the accounts receivable automation market share.
The increasing pressure to optimise financial processes and reduce operational costs is a primary driver fuelling the adoption of accounts receivable automation solutions. By automating manual tasks such as invoice generation, payment reconciliation, and credit assessments, organisations can streamline workflows, eliminate errors, and free up valuable resources to focus on strategic activities. Moreover, automation helps minimise processing times, accelerate cash conversion cycles, and enhance overall productivity and efficiency in financial operations, thus increasing the accounts receivable automation market size.
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The proliferation of digital commerce, e-commerce platforms, and online payment channels is driving the volume and complexity of transactions for businesses across sectors. As the volume of invoices, payments, and customer interactions increases, organisations are turning to accounts receivable automation solutions to handle growing transaction volumes, improve data accuracy, and ensure compliance with regulatory requirements. By automating repetitive tasks and standardising processes, businesses can scale their operations efficiently and effectively manage fluctuations in transaction volumes, leading to accounts receivable automation market development.
Global Accounts Receivable Automation Market Segmentation
The market can be divided based on the component, deployment mode, organisation size, end user, and region.
Market Breakup by Component.
- Solutions
- Services
Market Breakup by Deployment Mode
- On-Premises
- Cloud
Market Breakup by Organisation Size
- Small and Medium Enterprises
- Large Enterprises
Market Breakup 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
Competitive Landscape
The EMR report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments, of the leading companies operating in global accounts receivable automation market. Some of the major players explored in the report by Expert Market Research are as follows:
- 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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