Accounts Receivable Automation Market Astonishing Growth with Top Influencing Key Players like SAP SE, Oracle Corporation, SK Global Software

Latest research on Accounts Receivable Automation Market report covers forecast and analysis on a worldwide, regional and country level. The study provides historical information of 2016-2021 together with a forecast from 2021 to 2026 supported by both volume and revenue (USD million). The entire study covers the key drivers and restraints for the Accounts Receivable Automation market. This report included a special section on the Impact of COVID19. Also, Accounts Receivable Automation Market (By major Key Players, By Types, By Applications, and Leading Regions) Segment’s outlook, Business assessment, Competition scenario and Trends. The report also gives 360-degree overview of the competitive landscape of the Accounts Receivable Automation industry.

Accounts Receivable Automation market is growing at a CAGR of 12.69% during the forecast period (2021-2026).

The Accounts Receivable Automation market is highly competitive and consists of a number of major players. Top Companies like SAP SE, Oracle Corporation, SK Global Software, YayPay Inc., Kofax Inc., Workday, Inc., Netsend (Corcentric LLC), HighRadius Corporation, Qvalia AB, Vanguard Systems, Inc., Bill.com, LLC (Size of the Organization), Comarch SA

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Industry News And Developments:

- March 2020 - Fuji Xerox expanded its partnership with the A/R automation provider Esker, to expand its Esker Accounts Receivable solution to the Asia-Pacific. This will enable the company to expand its global presence and strengthen its foothold globally.

- February 2020 - Genpact partnered with HighRadius to provide improvements to enterprise accounts receivable and jointly provide digital automation solutions powered integrated with advanced machine learning and artificial intelligence.

- November 2019 - DadeSystems, a fintech startup that offers accounts receivables automation solutions for organizations, raised a USD 9 million growth funding to grow its suite of solutions, collectively referred to as DadePay.

Scope of the Report

- Accounts Receivable Automation helps maintain the cash flow of the company by providing a quick and accurate stream of invoices to customers and help the company maintain stable growth in the future. Maximum adoption is expected to be witnessed amongst the small and medium enterprises due to the increasing needs for these businesses to automate their processes as it helps them optimize their costs to a great extent.

- Also, various solution providers are exclusively providing A/R automation solutions for SMEs to integrate these solutions seamlessly into their existing processes. For instance, in May 2020, an A/R Automation specialist, HighRadius, launched the RadiusOne A/R Suite for midsized businesses. It provides simple user experience and faster time-to-value, which helps mid-sized businesses to make Accounts Receivable automation a key catalyst for business growth.

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Key Market Trends

BFSI Industry Expected to Exhibit Significant Adoption

- The retail industry is rapidly adopting automation in various processes, such as returns processing, workflow management, customer support management, accounting and finance, ERP management and marketing, and consumer behavior analysis. Also, it has been estimated that more than USD 2 trillion can be saved in a global workforce by automating almost half of the tasks performed by humans, especially in an emerging industry, like retail.

- Rapid growth in the e-commerce industry is an essential factor in the growth of the A/R Automation market, as online sales largely support and augment credit sales, further increasing the demand for effective accounts receivable processes.

- Online sales in the United States are expected to double, by 2023, reaching approximately 20 to 25% of the overall retail sector. According to The Census Bureau of the Department of Commerce, the estimate of US retail e-commerce sales for the fourth quarter of 2019, adjusted for seasonal variation, was USD 158.0 billion, which was an increase of 2.6% from the third quarter of 2019. Within the United Kingdom (UK), retail plays an essential role in shaping the economy and employs nearly 3 million people.

North America Expected to Dominate the Market

- North America is expected to command a prominent share of the market over the forecasted period, owing to the increasing usage of the Accounts Receivable Automation solutions in the end-user industries, such as retail, IT and Telecom, BFSI, and healthcare.

- Also, the region's prominence in these industries, combined with innovation in the A/R automation space, is further expected to boost the market growth. To foster innovation in the market, solution providers are collaborating with global players to enable them to expand their foothold and provide A/R automation solutions in the region.

What are the market factors that are explained in the report?

–Key Strategic Developments: The study also includes the key strategic developments of the market, comprising R&D, new product launch, M&A, agreements, collaborations, partnerships, joint ventures, and regional growth of the leading competitors operating in the market on a global and regional scale.

–Key Market Features: The report evaluated key market features, including revenue, price, capacity, capacity utilization rate, gross, production, production rate, consumption, import/export, supply/demand, cost, market share, CAGR, and gross margin. In addition, the study offers a comprehensive study of the key market dynamics and their latest trends, along with pertinent market segments and sub-segments.

–Analytical Tools: Accounts Receivable Automation Market report includes the accurately studied and assessed data of the key industry players and their scope in the market by means of a number of analytical tools. The analytical tools such as Porter’s five forces analysis, feasibility study, and investment return analysis have been used to analyzed the growth of the key players operating in the market. 

The research includes historic data from 2015 to 2020 and forecasts until 2026 which makes the reports an invaluable resource for industry executives, marketing, sales and product managers, consultants, analysts, and other people looking for key industry data in readily accessible documents with clearly presented tables and graphs.

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