According to the latest report by IMARC Group, “Global Accounts Receivable Automation Market Size, Share, Growth, Industry Trends, Opportunity and Forecast 2022-2027“, the global accounts receivable automation market reached a value of US$ 1.98 Billion in 2021. Looking forward, IMARC Group expects the market to reach a value of US$ 4.04 Billion by 2027, exhibiting a CAGR of 12.10% during 2022-2027.
Accounts receivable automation refers to the modernization of the accounts receivable procedure through automated, electronic systems to increase efficiency. These solutions replace different aspects of AR management to streamline financial transactions reducing labor costs and optimizing their invoice processing to ensure that customers pay for goods and services timely.
Covid-19 Scenario: We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
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Accounts Receivable Automation Market Trends and Drivers:
One of the primary factors driving the market is the widespread application of AR automation solutions in small and medium enterprises (SMEs), large businesses and across various industries, including healthcare, telecommunications, retail, manufacturing and banking, financial services and insurance (BFSI). Additionally, the rising focus on reducing days sales outstanding (DSO) and enhancing cash flow is propelling the market growth.
Besides this, extensive utilization of AR automation to ease the processing of bills and reduce the time spent in collecting payments from customers. Furthermore, AR automation provides varying features such as routing rules, dashboards and compliance policies to smoothen the functioning of an organization. Some of the other growth-inducing factors include the augmenting demand for cloud-based AR automation solutions focus of market players on joint ventures, acquisitions and collaborations.
Global Accounts Receivable Automation Market 2022-2027 Analysis and Segmentation:
Competitive Landscape:
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
Some of these top key players include:
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) and Zoho Corporation Private Ltd.
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The report has segmented the market on the basis of region, component, deployment, organization size and vertical.
Breakup by Component:
- Solution
- Services
Breakup by Deployment:
- On-premises
- Cloud-based
Breakup by Organization Size:
- Large Enterprises
- Small and Medium-sized Enterprises
Breakup by Vertical:
- Consumer Goods and Retail
- BFSI
- Manufacturing
- IT and Telecom
- Healthcare
- Energy and Utilities
- Others
Breakup by Region:
- 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
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Key highlights of the report:
- Market Performance (2016-2021)
- Market Outlook (2022- 2027)
- 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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