Accounts Receivable Automation Market Trends That Will Shape the Next Decade: Insights from Introduction Of Technologically Advanced Automation Solutions

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How Large Will the Accounts Receivable Automation Market Size By 2025?
The market size of accounts receivable automation has witnessed quick expansion recently. It is projected to escalate from a value of $3.52 billion in 2024 to about $4.01 billion in 2025, exhibiting a compound annual growth rate (CAGR) of 13.8%. The significant growth observed in the historical period can be ascribed to the inefficiencies of manual processes, an increase in the volume of transactions, the reduction of errors and accuracy improvement, initiatives to cut costs, and an increased demand for speedier processing.

How Big Is the Accounts Receivable Automation Market Size Expected to Grow by 2029?
The market size for accounts receivable automation is projected to grow significantly in the coming years, reaching $7.18 billion in 2029 with a compound annual growth rate (CAGR) of 15.7%. This expected growth during the forecast period can be linked to the ongoing digital change, advancement of remote working, heightened attention on cash flow efficiency, the need for scalability and adaptability, and customer-focused strategies. During the forecast period, key trends anticipated include market rivalry and innovation, partnerships with suppliers/vendors, a shift towards sustainability and paperless workflows, and an emphasis on cybersecurity.

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Which Key Market Drivers Powering Accounts Receivable Automation Market Expansion and Growth?
The acceleration of automation and digitization usage by small and medium-sized enterprises (SMEs) is projected to fuel the accounts receivable automation market's expansion. These digital and automated systems enable SMEs to reduce costs, normalize procedures, and minimize labor dependency, prompting them to embrace accounts receivable automation. For example, a report produced by the Department for Science and Technology, a UK government agency, in February 2024, revealed that the digital sector's contribution to the UK's economy in 2022 was £158.3 billion ($206.66), making up 7.2% of the country's total Gross Value Added (GVA), an increase from 7.1% the previous year. As a result, this growing commitment to automation and digitization among SMEs is anticipated to stimulate the accounts receivable automation market's growth.

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Which Fast-Growing Trends Are Poised to Disrupt the Accounts Receivable Automation Market?
The primary trend gaining traction in the accounts receivable automation market is the incorporation of new technologies. Big companies active in this marketplace are unveiling state-of-the-art technologies to establish a competitive advantage. To illustrate, Quadient, a business process automation and customer experience management firm based in France, revealed an accounts payable (AP) automation solution in February 2022. The solution offers a safer and more convenient procedure for approving invoices and remitting payments to suppliers, regardless of location.

What Are the Emerging Segments in the Accounts Receivable Automation Market?
The accounts receivable automationmarket covered in this report is segmented -

1) By Component: Solution, Services
2) By Deployment Mode: Cloud, On-premises
3) By Organization Size: Large Enterprises, Small And Medium Sized Enterprises
4) By Vertical: BFSI, Retail And Consumer Goods., Healthcare, IT And Telecom., Manufacturing, Energy And Utilities, Other Vertical

Subsegments:
1) By Solution: Invoice Processing Software, Payment Processing Solutions, Collections Management Software, Reporting And Analytics Tools
2) By Services: Consulting Services, Implementation Services, Managed Services, Support And Maintenance Services

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Who Are the Global Leaders in the Accounts Receivable Automation Market?
Major companies operating in the accounts receivable automation market are BlackLine Inc., Bottomline Technologies Inc., Comarch SA, Esker SA, HighRadius Corporation, SAP SE, Oracle Corporation, Kofax Inc., YayPay Inc., SK Global Software LLC, FinancialForce Inc., The Sage Group PLC, VersaPay Corporation, Bill.com Holdings Inc., Corcentric LLC, MHC Software Inc., Qvalia AB, Anytime Collect, Neopost SA, Workday Inc., Coupa Software Inc., Fidelity National Information Services Inc., Zoho Corporation, Fiserv Inc., Invoiced Inc., MineralTree Inc., Nvoicepay Inc., Rimilia Holdings Ltd., Serrala Group, Tesorio Inc., Tradeshift Inc.

Which are the Top Profitable Regional Markets for the Accounts Receivable Automation Industry?
North America was the largest region in the accounts receivable automation market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the accounts receivable automation market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

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