Press release
AP/AR Automation Market 2023 Report By Key Companies, Regional Analysis And Forecast 2032
AP/AR Automation Market
The Business Research Company's AP/AR Automation Global Market Report 2023 identifies demand for automated and secured payable processesas the major driver for the AP/AR automation market's growth in the forecast period. The automated and secured payable process refers to a method for minimizing human involvement and getting rid of risky tasks from the trade payables or accounts payables process. AP/AR automation reduces the amount of data entry required and speeds up other procedures such as payments and invoice matching, and reduces hard expenditures including document storage, postage, and other expenses.
The global AP/AR automation market size is expected to grow from $2.03 billion in 2022 to $2.23 billion in 2023 at a compound annual growth rate (CAGR) of 9.7%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The AP/AR automation market size is expected to grow to $3.19 billion in 2027 at a CAGR of 9.4%.
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Major competitors in the AP/AR automation market areAvidXchange Holdings, Bill.com Holdings Inc., Bottomline Technologies Inc., Coupa Software, FinancialForce., Freshbooks, Nvoicepay Inc., Sage Group plc, Oracle Corporation
A key trend in the AP/AR automation market includes technological advancement. Major companies operating in the AP/AR market are focused on introducing innovative and technologically advanced products to sustain their position in the market.
Read More On The Global AP/AR Automation Market Report Here:
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The AP/AR automation market is segmented -
• By Component: Invoice Management, Electronic Purchase Order, E-Invoicing, Approval and Workflow, ERP Integration, Electronic Payment, Analysis and Reporting, Services
• By Organization Type: Large, Small and Medium Enterprises (SMEs)
• By End User: Banking, financial services and insurance (BFSI), Manufacturing, Energy and Utilities, Construction, Food and Beverages, Consumer Goods and Retail, IT and Telecom, Healthcare, Other End Users
• By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. Asia-Pacific was the largest region in the AP/AR automation market.
The Business Research Company's "Global AP/AR Automation Market Report 2023" provides a thorough understanding of the market across 60 geographies. The report covers market size, growth rate, segments, drivers and trends in every region and country. In addition, the report offers insights on historical and forecast growth, helping players analyze and strategize better.
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The Table Of Content For The AP/AR Automation Market Include:
1. Executive Summary
2. AP/AR Automation Market Characteristics
3. AP/AR Automation Market Trends And Strategies
4. AP/AR Automation Market - Macro Economic Scenario
5. AP/AR Automation Market Size And Growth
……
26. Africa AP/AR Automation Market
27. AP/AR Automation Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The AP/AR Automation Market
29. AP/AR Automation Market Future Outlook and Potential Analysis
30. Appendix
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