Accounts Receivable Automation Market Report 2023-2028 | Industry Size, Share, Growth, Trends Analysis

How Big is the Global Accounts Receivable Automation Market?

The global accounts receivable automation market size reached US$ 2.3 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 4.5 Billion by 2028, exhibiting a growth rate (CAGR) of 11.6% during 2023-2028.

What is Accounts Receivable Automation?

Accounts receivable automation is an advanced technology solution designed to streamline the invoicing and payment collection process in a business environment. It encompasses multiple forms, such as invoice-to-cash, credit management, and reconciliation automation, each tailored to address specific needs within the accounts receivable process. It employs sophisticated algorithms and software integrations to automatically generate invoices, send reminders, and process incoming payments. It helps to reduce the need and costs of manual labor, which minimizes the occurrence of errors and allows employees to invest time in more strategic tasks. It ensures that invoices are consistently generated and sent on time, improving cash flow and reducing late payments. It provides real-time analytics and reporting, enabling businesses to make data-driven decisions about credit policies and customer relationships. It is employed by companies of all sizes, including small enterprises and multinational corporations, seeking to optimize their financial operations.

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Global Accounts Receivable Automation Market Trends and Drivers:

The rising need for companies to optimize their cash flow and minimize operational costs represents one of the crucial factors impelling the growth of the market. Additionally, the increasing complexity of managing multiple currencies, tax regulations, and compliance requirements is driving the adoption of accounts receivable automation. Besides this, the growing emphasis on data analytics and real-time reporting for enabling businesses to monitor their accounts receivable performance and make data-driven decisions is positively influencing the market. Moreover, advancements in artificial intelligence (AI) and machine learning (ML) are enhancing the capabilities of accounts receivable automation by adding features like predictive analytics and intelligent reminders. In addition, the increasing concern for data security and privacy among businesses dealing with sensitive financial information is driving the adoption of automation solutions that offer robust security features. Furthermore, the growing integration of accounts receivable automation systems into e-commerce platforms for seamless invoicing and payment processing is offering a favorable market outlook. Apart from this, the rising formation of partnerships and alliances between accounts receivable automation solution providers and other tech companies, such as customer relationship management (CRM) and enterprise resource planning (ERP) providers, is driving the adoption of integrated solutions that offer a comprehensive approach to financial management.

Global Accounts Receivable Automation Market 2023-2028 Analysis and Segmentation:

Top Key Players covered in this report are:

BlackLine Inc.
Bottomline Technologies Inc.
Comarch SA
Esker SA
HighRadius Corporation
Invoiced Inc.
Oracle Corporation
Sage Group plc
SAP SE
ScienceSoft USA Corporation
VersaPay Corporation
Yaypay Inc. (Quadient)
Zoho Corporation Private Ltd.

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The report segmented the market on the basis of region, component, deployment, organization size and vertical.

Component Insights:

Solution
Services
Deployment Insights:
On-premises
Cloud-based

Organization Size Insights:

Large Enterprises
Small and Medium-sized Enterprises

Vertical Insights:

Consumer Goods and Retail
BFSI
Manufacturing
IT and Telecom
Healthcare
Energy and Utilities
Others

Regional Insights:

North America: (United States, Canada)
Asia Pacific: (China, Japan, India, South Korea, Australia, Indonesia, Others)
Europe: (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
Latin America: (Brazil, Mexico, Others)
Middle East and Africa

Key highlights of the report:

Market Performance (2017-2022)
Market Outlook (2023- 2028)
Porter's Five Forces Analysis
Market Drivers and Success Factors
SWOT Analysis
Value Chain
Comprehensive Mapping of the Competitive Landscape

If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.

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