Accounts Receivable Automation Market by Component (Solutions (Credit Evaluation & Management and Collections Management) and Services), Organization Size, Deployment Mode, Vertical and Region - Global Forecast to 2027
Updated on : April 18, 2023
Accounts Receivable Automation Market Statistics & Global Size
The global accounts receivable automation market size is projected to grow at CAGR of 14.2% to reach USD 6.5 billion in the upcoming five years. The market value was USD 3.3 billion in 2022. The need to improve efficiency and productivity of workforce is one of the primary factors driving market growth. Moreover, the demand for quick invoicing to reduce delay in payments to drive the demand of these solutions in the near future.
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COVID-19 Impact
The impact of COVID-19 on the accounts receivable automation market has affected large and small enterprises alike across various industry verticals.
Accounts receivable automation offers a solution to the challenges posed by the pandemic. COVID-19 has generated the need to reduce overheads, collect payments, and grow a business as the global economy recovers from the pandemic. Building business resilience to prepare for future disruption and making the working capital function more effectively has never been a bigger priority for business leaders across different verticals
According to recent research conducted by an accounts receivable automation vendor, it was found that 64% of firms are shifting away from physical invoices, and 67% are receiving more payments digitally as a result of the COVID-19 pandemic. Organizations across large enterprises and SMEs that have implemented more accounts receivable automation seem to have adapted better to today’s post-pandemic dynamics.
Amid this pandemic, organizations across different verticals are switching to cloud-based automated accounts receivable platforms. Switching to this kind of platform have reduced manual processing by 85% and the cost of running an accounts receivable department
Accounts Receivable Automation Market Dynamics
How is demand for quick invoicing driving the growth of accounts receivable automation market?
Accounts receivable automation helps send the invoices to customers and clients on time, reducing the time duration for sending invoices and receiving payments. The account receivable automation creates eInvoices accessible to consumers who can directly pay payments by clicking on the link. This reduces the time taken in payments and saves time in auditing accounts. It also helps enterprises speed up invoicing and manage the transactions for a smooth and enhanced customer experience, which gives them a competitive advantage.
How is resistance to switch from traditional accounts receivable processes holding back the growth of the market?
Many organizations prefer traditional methodologies that are often time-consuming and tedious. Various factors, such as concerns over data security, budget constraints, and resistance to changing the well-established existing accounts receivable processes, make enterprises hesitant to invest in the implementation of accounts receivable automation solutions. Furthermore, the lack of awareness of automation in accounts receivable and training and skillsets to manage advanced solutions are the major factors responsible for the less adoption of automated and advanced technologies.
What opportunities does rising adoption of AI and ML-based accounts receivable automation open for companies?
Accounts receivable automation solution vendors invest in AI technology to enable finance and accounting executives to strengthen their financial efficiency. AI and ML can help enhance finance-related operations efficiently by providing deeper insights into the business process. For instance, with the help of AI, companies can analyze every business process and pinpoint the areas where modifications can be made to achieve higher value. It can also help to understand customer behavior and payment patterns to identify any risk of payment issues.
Why is increasing data security, privacy, and compliance concerns a critical challenge that is impacting the growth of the market?
Data security is a rising concern for a significant share of the stakeholders in the accounting field. With the increasing number of identity frauds and cybercrimes, businesses are increasingly becoming cautious in adopting automated solutions. The solution must secure customer payments and personal information with PCI and GDPR compliance. Furthermore, organizations need to manage enormous amounts of data and sensitive information. This makes organizations hesitant to adopt the automation solution, as it requires enterprises to share their sensitive and confidential data with third parties in the cloud.
Accounts Receivable Automation Market Supply Chain
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By Deployment Mode, the cloud segment to have a higher growth during the forecast period
The cloud segment is expected to have a higher growth rate during the forecast period. The cloud-based accounts receivable automation solution deployment mode is a cost-effective and efficient way of managing big data issues. Cloud-based accounts receivable automation solutions facilitate various advantages, including scalability, adaptability, easy deployment, and cost-effectiveness, which promote the adoption of cloud deployment across organizations. The low cost and ease of implementation have made the cloud a highly desirable delivery mode among organizations.
By Vertical, the BFSI segment to have the highest market size during the forecast period
The banking, financial services, and insurance (BFSI) segment to have the highest share in the market. The BFSI vertical is an early adopter of new technologies. The accounts receivable automation solution enables financial institutions to improve cash collection from customers. The automated accounts receivable solution maximizes staff productivity and saves the time of personnel entering, proofreading, and verifying invoices to produce accurate reports.
By Region, Asia Pacific to record the highest growth during the forecast period
Asia Pacific is one of the fastest-developing regions globally, making the region highly profitable for the Accounts receivable automation market. It is expected to be the fastest-growing market owing to the rapid economic developments, globalization, digitalization, and the increased internet penetration. Japan and China, being two of the most technologically advanced countries in the region, are the undisputed leaders in the market. Government initiatives to promote the digital infrastructure are responsible for driving the adoption of accounts receivable automation solutions in the region. The use of an accounts receivable automation solution enables organizations to successfully drive the transformation of their accounts receivable departments to overcome the challenges of manual and paper-based processes.
Asia Pacific: Accounts Receivable Automation Market Snapshot
Key Market Players
The report includes the study of key players offering accounts receivable automation solutions and services. The major vendors in the accounts receivable automation include Sage (UK), SAP (Germany), Oracle (US), Workday (US), Bottomline Technologies (US), Comarch (Poland), Esker (France), Zoho (India), BlackLine (US), and HighRadius (US).
The study includes an in-depth competitive analysis of these key players in the accounts receivable automation market with their company profiles, recent developments, and key market strategies.
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|
Report Metrics |
Details |
|
Market size value in 2022 |
USD 3.3 billion |
|
Revenue forecast in 2027 |
USD 6.5 billion |
|
Growth Rate |
14.2% CAGR |
|
Market size available for years |
2018-2027 |
|
Base year considered |
2021 |
|
Forecast period |
2022-2027 |
|
Forecast units |
Value (USD Billion) |
|
Segments covered |
By Component, Deployment Mode, Organization Size, Vertical, and Region |
|
Regions covered |
North America, Europe, Asia Pacific, Middle East & Africa, and Latin America |
|
Companies covered |
Major vendors include Sage (UK), SAP (Germany), Oracle (US), Workday (US), and Bottomline Technologies (US), (Total 30 companies) |
This research report categorizes the accounts receivable automation market to forecast revenues and analyze trends in each of the following subsegments:
By Component:
-
Solutions
- Credit Evaluation & Management
- Bill Presentment & Payment
- Dispute Management
- Collections Management
- Deductions Management
- Cash Application Automation
- Receivables Analytics
-
Services
- Managed Services
-
Professional Services
- Implementation & Integration
- Consulting
- Support & Maintenance
By Deployment Mode:
- Cloud
- On-premises
By Organization Size:
- Large Enterprises
- Small & Medium Sized Enterprises
By Vertical:
- Banking, Financial Services & Insurance
- IT & Telecom
- Manufacturing
- Consumer Goods & Retail
- Healthcare
- Energy & Utilities
- Other Verticals
By Region:
-
North America
- United States
- Canada
-
Europe
- United Kingdom
- Germany
- France
- Rest of Europe
-
Asia Pacific
- China
- Japan
- India
- Australia
- Rest of Asia Pacific
-
Middle East & Africa
- United Arab Emirates
- Kingdom of Saudi Arabia
- Rest of Middle East & Africa
-
Latin America
- Brazil
- Mexico
- Rest of Latin America
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TABLE OF CONTENTS
1 INTRODUCTION (Page No. - 28)
1.1 OBJECTIVES OF STUDY
1.2 MARKET DEFINITION
1.3 MARKET SCOPE
1.3.1 MARKET SEGMENTATION
FIGURE 1 ACCOUNTS RECEIVABLE AUTOMATION MARKET: SEGMENTATION
1.3.2 REGIONS COVERED
FIGURE 2 MARKET: REGIONS COVERED
1.3.3 INCLUSIONS AND EXCLUSIONS
1.3.4 YEARS CONSIDERED FOR STUDY
1.4 CURRENCY CONSIDERED
TABLE 1 UNITED STATES DOLLAR EXCHANGE RATE, 2018–2021
1.5 STAKEHOLDERS
1.6 SUMMARY OF CHANGES
2 RESEARCH METHODOLOGYS (Page No. - 34)
2.1 RESEARCH APPROACH
FIGURE 3 ACCOUNTS RECEIVABLE AUTOMATION MARKET: RESEARCH DESIGN
2.1.1 SECONDARY DATA
2.1.1.1 Secondary sources
2.1.2 PRIMARY DATA
TABLE 2 LIST OF KEY PRIMARY INTERVIEW PARTICIPANTS
2.1.2.1 Breakup of primary profiles
FIGURE 4 BREAKUP OF PRIMARY INTERVIEWS: BY COMPANY TYPE, DESIGNATION, AND REGION
2.1.2.2 Key industry insights
2.2 DATA TRIANGULATION
FIGURE 5 DATA TRIANGULATION
2.3 MARKET SIZE ESTIMATION
FIGURE 6 MARKET: TOP-DOWN AND BOTTOM-UP APPROACHES
FIGURE 7 MARKET SIZE ESTIMATION METHODOLOGY – APPROACH 1 (SUPPLY SIDE): REVENUE OF SERVICES FROM VENDORS
FIGURE 8 MARKET SIZE ESTIMATION METHODOLOGY: BOTTOM-UP APPROACH FROM SUPPLY SIDE: COLLECTIVE REVENUE OF VENDORS
FIGURE 9 MARKET SIZE ESTIMATION METHODOLOGY: CAGR PROJECTIONS FROM SUPPLY SIDE
FIGURE 10 MARKET SIZE ESTIMATION METHODOLOGY - APPROACH 2 (BOTTOM-UP): REVENUE GENERATED BY VENDORS FROM EACH APPLICATION
FIGURE 11 MARKET SIZE ESTIMATION METHODOLOGY - APPROACH 2 FROM DEMAND SIDE: REVENUE GENERATED FROM DIFFERENT VERTICALS
2.4 MARKET FORECAST
TABLE 3 FACTOR ANALYSIS
2.5 RESEARCH ASSUMPTIONS
2.6 LIMITATIONS OF STUDY
3 EXECUTIVE SUMMARY (Page No. - 47)
FIGURE 12 MARKET, 2019–2027 (USD MILLION)
FIGURE 13 FASTEST-GROWING SEGMENTS IN ACCOUNTS RECEIVABLE AUTOMATION MARKET, 2022–2027
FIGURE 14 SOLUTIONS SEGMENT TO ACCOUNT FOR LARGER MARKET SIZE DURING FORECAST PERIOD
FIGURE 15 PROFESSIONAL SERVICES SEGMENT TO HOLD LARGER MARKET SIZE DURING FORECAST PERIOD
FIGURE 16 SUPPORT & MAINTENANCE SUBSEGMENT TO HOLD LARGEST MARKET SIZE DURING FORECAST PERIOD
FIGURE 17 LARGE ENTERPRISES SEGMENT TO HOLD LARGER MARKET SIZE DURING FORECAST PERIOD
FIGURE 18 ON-PREMISES SEGMENT TO ACCOUNT FOR LARGER MARKET SIZE DURING FORECAST PERIOD
FIGURE 19 TOP VERTICALS IN MARKET, 2020–2027
FIGURE 20 MARKET: REGIONAL SNAPSHOT
4 PREMIUM INSIGHTS (Page No. - 54)
4.1 OVERVIEW OF ACCOUNTS RECEIVABLE AUTOMATION MARKET
FIGURE 21 GROWING FOCUS OF ORGANIZATIONS TO AUTOMATE WORKFLOW OF ACCOUNTS RECEIVABLE AND REDUCE DAYS SALES OUTSTANDING TO DRIVE GROWTH OF MARKET
4.2 MARKET, BY COMPONENT
FIGURE 22 SOLUTIONS SEGMENT TO ACCOUNT FOR LARGER MARKET SHARE DURING FORECAST PERIOD
4.3 MARKET, BY SERVICE
FIGURE 23 PROFESSIONAL SERVICES SEGMENT TO ACCOUNT FOR LARGER MARKET SHARE DURING FORECAST PERIOD
4.4 MARKET, BY PROFESSIONAL SERVICE
FIGURE 24 SUPPORT & MAINTENANCE SUBSEGMENT TO ACCOUNT FOR LARGEST MARKET SHARE DURING FORECAST PERIOD
4.5 MARKET, BY ORGANIZATION SIZE
FIGURE 25 LARGE ENTERPRISES SEGMENT TO ACCOUNT FOR LARGER MARKET SHARE DURING FORECAST PERIOD
4.6 MARKET, BY DEPLOYMENT MODE
FIGURE 26 ON-PREMISES DEPLOYMENT MODE TO ACCOUNT FOR LARGER MARKET SHARE DURING FORECAST PERIOD
4.7 MARKET, BY VERTICAL
FIGURE 27 BANKING, FINANCIAL SERVICES, & INSURANCE SEGMENT TO ACCOUNT FOR LARGEST MARKET SHARE DURING FORECAST PERIOD
4.8 MARKET: REGIONAL SCENARIO
FIGURE 28 ASIA PACIFIC TO EMERGE AS BEST MARKET FOR INVESTMENTS IN NEXT FIVE YEARS
5 MARKET OVERVIEW AND INDUSTRY TRENDS (Page No. - 58)
5.1 INTRODUCTION
5.2 MARKET DYNAMICS
FIGURE 29 DRIVERS, RESTRAINTS, OPPORTUNITIES, AND CHALLENGES: ACCOUNTS RECEIVABLE AUTOMATION MARKET
5.2.1 DRIVERS
5.2.1.1 Need to improve efficiency and productivity of workforce
5.2.1.2 Demand for quick invoicing to reduce delay in payments
FIGURE 30 TRADITIONAL ACCOUNTS RECEIVABLE PROCESS CYCLE
5.2.1.3 Rising adoption of accounts receivable automation post-pandemic
5.2.2 RESTRAINTS
5.2.2.1 High cost of implementation
5.2.2.2 Resistance to switch from traditional accounts receivable processes
5.2.3 OPPORTUNITIES
5.2.3.1 Rising adoption of AI and ML-based accounts receivable automation
5.2.4 CHALLENGES
5.2.4.1 Increasing data security, privacy, and compliance concerns
5.3 CASE STUDY ANALYSIS
5.3.1 CASE STUDY 1: HAMPERS WITH BITE IMPLEMENTED EZYCOLLECT TO IMPROVE VISIBILITY OF INVOICES
5.3.2 CASE STUDY 2: HIGHRADIUS ENABLED AUTOMATION FOR FLEETPRIDE TO IMPROVE PRODUCTIVITY
5.3.3 CASE STUDY 3: MASTERFOOD LEVERAGED GAVITI TO SAVE TIME AND MONEY WITH AUTOMATED AR
5.4 PORTER’S FIVE FORCES ANALYSIS
TABLE 4 PORTER’S FIVE FORCES ANALYSIS: ACCOUNTS RECEIVABLE AUTOMATION MARKET
5.4.1 THREAT OF NEW ENTRANTS
5.4.2 THREAT OF SUBSTITUTES
5.4.3 BARGAINING POWER OF SUPPLIERS
5.4.4 BARGAINING POWER OF BUYERS
5.4.5 COMPETITIVE RIVALRY WITHIN THE INDUSTRY
FIGURE 31 PORTER’S FIVE FORCES ANALYSIS: MARKET
5.5 COVID-19-DRIVEN MARKET DYNAMICS
5.5.1 DRIVERS AND OPPORTUNITIES
5.5.2 RESTRAINTS AND CHALLENGES
5.6 TECHNOLOGY ANALYSIS
5.6.1 DATA ANALYTICS
5.6.2 ARTIFICIAL INTELLIGENCE AND MACHINE LEARNING
5.6.3 AUTOMATION
5.7 PRICING ANALYSIS
TABLE 5 MARKET: PRICING LEVELS
5.8 SUPPLY CHAIN ANALYSIS
FIGURE 32 MARKET: SUPPLY CHAIN
5.9 ECOSYSTEM
FIGURE 33 MARKET: ECOSYSTEM
5.10 TARIFF AND REGULATORY LANDSCAPE
5.10.1 REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
TABLE 6 NORTH AMERICA: LIST OF REGULATORY BODIES AND REGULATIONS
TABLE 7 EUROPE: LIST OF REGULATORY BODIES AND REGULATIONS
TABLE 8 ASIA PACIFIC: LIST OF REGULATORY BODIES AND REGULATIONS
TABLE 9 MIDDLE EAST & AFRICA: LIST OF REGULATORY BODIES AND REGULATIONS
TABLE 10 LATIN AMERICA: LIST OF REGULATORY BODIES AND REGULATIONS
5.11 PATENT ANALYSIS
TABLE 11 MARKET: PATENTS
TABLE 12 TOP 10 PATENT OWNERS (US)
FIGURE 34 TOP TEN COMPANIES WITH HIGHEST NUMBER OF PATENTS
FIGURE 35 NUMBER OF PATENTS GRANTED OVER THE LAST TEN YEARS
5.12 KEY CONFERENCES & EVENTS
TABLE 13 MARKET: DETAILED LIST OF CONFERENCES & EVENTS IN 2022–2023
5.13 TRENDS/DISRUPTIONS IMPACTING BUYERS
FIGURE 36 MARKET: TRENDS/DISRUPTIONS IMPACTING BUYERS
5.14 KEY STAKEHOLDERS & BUYING CRITERIA
5.14.1 KEY STAKEHOLDERS IN BUYING PROCESS
FIGURE 37 INFLUENCE OF STAKEHOLDERS IN BUYING PROCESS FOR ENTERPRISES
TABLE 14 INFLUENCE OF STAKEHOLDERS IN BUYING PROCESS FOR ENTERPRISES
5.14.2 BUYING CRITERIA
FIGURE 38 KEY BUYING CRITERIA FOR ENTERPRISES
TABLE 15 KEY BUYING CRITERIA FOR ENTERPRISES
6 ACCOUNTS RECEIVABLE AUTOMATION MARKET, BY COMPONENT (Page No. - 81)
6.1 INTRODUCTION
6.1.1 COMPONENT: MARKET DRIVERS
6.1.2 COMPONENT: COVID-19 IMPACT
FIGURE 39 SERVICES SEGMENT TO GROW AT HIGHER CAGR DURING FORECAST PERIOD
TABLE 16 MARKET, BY COMPONENT, 2018–2021 (USD MILLION)
TABLE 17 ACCOUNTS RECEIVABLE AUTOMATION MARKET, BY COMPONENT, 2022–2027 (USD MILLION)
6.2 SOLUTIONS
TABLE 18 SOLUTIONS: MARKET, BY REGION, 2018–2021 (USD MILLION)
TABLE 19 SOLUTIONS: MARKET, BY REGION, 2022–2027 (USD MILLION)
6.2.1 CREDIT EVALUATION & MANAGEMENT
6.2.1.1 Credit evaluation & management solutions to increase receivables by measuring and monitoring credit exposure
6.2.2 BILL PRESENTMENT & PAYMENT
6.2.2.1 Bill presentment & payment to help organizations save costs and create a better customer experience
6.2.3 DISPUTE MANAGEMENT
6.2.3.1 Automation of dispute management in accounts receivables to help reduce DSO and risk of bad debt write-offs
6.2.4 COLLECTIONS MANAGEMENT
6.2.4.1 Collections management solution to enhance customer service, reduce overdue invoices, and improve collections metrics and DSO
6.2.5 DEDUCTIONS MANAGEMENT
6.2.5.1 Deductions management solution to enable accounts receivable teams to focus on timely resolution and revenue collection
6.2.6 CASH APPLICATION AUTOMATION
6.2.6.1 Cash application automation to lead to increased positive cash flow, improved accuracy, and enhanced productivity
6.2.7 RECEIVABLES ANALYTICS
6.2.7.1 Receivables analytics solution to enhance visibility with reporting tools and insights
6.3 SERVICES
FIGURE 40 MANAGED SERVICES SEGMENT TO GROW AT HIGHER CAGR DURING FORECAST PERIOD
TABLE 20 MARKET, BY SERVICE, 2018–2021 (USD MILLION)
TABLE 21 MARKET, BY SERVICE, 2022–2027 (USD MILLION)
TABLE 22 SERVICES: MARKET, BY REGION, 2018–2021 (USD MILLION)
TABLE 23 SERVICES: MARKET, BY REGION, 2022–2027 (USD MILLION)
6.3.1 PROFESSIONAL SERVICES
6.3.1.1 Technicalities involved in implementing accounts receivables automation solution to boost demand for professional services
FIGURE 41 IMPLEMENTATION & INTEGRATION SEGMENT TO GROW AT HIGHEST CAGR DURING FORECAST PERIOD
TABLE 24 MARKET, BY PROFESSIONAL SERVICE, 2018–2021 (USD MILLION)
TABLE 25 MARKET, BY PROFESSIONAL SERVICE, 2022–2027 (USD MILLION)
TABLE 26 PROFESSIONAL SERVICES: MARKET, BY REGION, 2018–2021 (USD MILLION)
TABLE 27 PROFESSIONAL SERVICES: MARKET, BY REGION, 2022–2027 (USD MILLION)
6.3.2 IMPLEMENTATION & INTEGRATION
6.3.2.1 Growing demand for these services to ensure better user experience, adhere to IT standards, and manage budgetary guidelines
TABLE 28 IMPLEMENTATION & INTEGRATION: MARKET, BY REGION, 2018–2021 (USD MILLION)
TABLE 29 IMPLEMENTATION & INTEGRATION: MARKET, BY REGION, 2022–2027 (USD MILLION)
6.3.3 CONSULTING
6.3.3.1 Demand for consulting services to help organizations understand competencies of these solutions and services
TABLE 30 CONSULTING: MARKET, BY REGION, 2018–2021 (USD MILLION)
TABLE 31 CONSULTING: MARKET, BY REGION, 2022–2027 (USD MILLION)
6.3.4 SUPPORT & MAINTENANCE
6.3.4.1 Support & maintenance services to help understand market trends, changing business conditions, and client insights
TABLE 32 SUPPORT & MAINTENANCE: MARKET, BY REGION, 2018–2021 (USD MILLION)
TABLE 33 SUPPORT & MAINTENANCE: MARKET, BY REGION, 2022–2027 (USD MILLION)
6.3.5 MANAGED SERVICES
6.3.5.1 Deployment of accounts receivable management solution to create the need for managed services to handle complex receivable processes
TABLE 34 MANAGED SERVICES: MARKET, BY REGION, 2018–2021 (USD MILLION)
TABLE 35 MANAGED SERVICES: MARKET, BY REGION, 2022–2027 (USD MILLION)
7 MARKET, BY DEPLOYMENT MODE (Page No. - 97)
7.1 INTRODUCTION
7.1.1 DEPLOYMENT MODE: ACCOUNTS RECEIVABLE AUTOMATION MARKET DRIVERS
7.1.2 DEPLOYMENT MODE: COVID-19 IMPACT
FIGURE 42 CLOUD SEGMENT TO GROW AT HIGHER CAGR DURING FORECAST PERIOD
TABLE 36 MARKET, BY DEPLOYMENT MODE, 2018–2021 (USD MILLION)
TABLE 37 MARKET, BY DEPLOYMENT MODE, 2022–2027 (USD MILLION)
7.2 ON-PREMISES
7.2.1 LARGE ORGANIZATIONS TO DRIVE ON-PREMISES SOFTWARE DEPLOYMENT ADOPTION TO OVERCOME SECURITY CONCERNS OVER SENSITIVE DATA
TABLE 38 ON-PREMISES: MARKET, BY REGION, 2018–2021 (USD MILLION)
TABLE 39 ON-PREMISES: MARKET, BY REGION, 2022–2027 (USD MILLION)
7.3 CLOUD
7.3.1 COST-EFFECTIVENESS, EASY ACCESS, AND SCALABILITY TO BOOST CLOUD-BASED ACCOUNTS RECEIVABLE AUTOMATION SOLUTIONS’ ADOPTION
TABLE 40 CLOUD: MARKET, BY REGION, 2018–2021 (USD MILLION)
TABLE 41 CLOUD: MARKET, BY REGION, 2022–2027 (USD MILLION)
8 ACCOUNTS RECEIVABLE AUTOMATION MARKET, BY ORGANIZATION SIZE (Page No. - 103)
8.1 INTRODUCTION
8.1.1 ORGANIZATION SIZE: MARKET DRIVERS
8.1.2 ORGANIZATION SIZE: COVID-19 IMPACT
FIGURE 43 SMALL AND MEDIUM-SIZED ENTERPRISES SEGMENT TO GROW AT HIGHER CAGR DURING FORECAST PERIOD
TABLE 42 MARKET, BY ORGANIZATION SIZE, 2018–2021 (USD MILLION)
TABLE 43 MARKET, BY ORGANIZATION SIZE, 2022–2027 (USD MILLION)
8.2 LARGE ENTERPRISES
8.2.1 GROWING NEED TO IMPROVE CASH FLOW AND ELIMINATE HUMAN ERRORS IN ACCOUNTING PROCESSES TO DRIVE ADOPTION
TABLE 44 LARGE ENTERPRISES: MARKET, BY REGION, 2018–2021 (USD MILLION)
TABLE 45 LARGE ENTERPRISES: MARKET, BY REGION, 2022–2027 (USD MILLION)
8.3 SMALL AND MEDIUM-SIZED ENTERPRISES
8.3.1 NEED FOR COST-EFFECTIVE SOLUTIONS TO DRIVE ADOPTION OF SOLUTIONS ACROSS SMALL AND MEDIUM-SIZED ENTERPRISES
TABLE 46 SMALL AND MEDIUM-SIZED ENTERPRISES: MARKET, BY REGION, 2018–2021 (USD MILLION)
TABLE 47 SMALL AND MEDIUM-SIZED ENTERPRISES: MARKET, BY REGION, 2022–2027 (USD MILLION)
9 MARKET, BY VERTICAL (Page No. - 108)
9.1 INTRODUCTION
9.1.1 VERTICAL: ACCOUNTS RECEIVABLE AUTOMATION MARKET DRIVERS
9.1.2 VERTICAL: COVID-19 IMPACT
FIGURE 44 BANKING, FINANCIAL SERVICES, AND INSURANCE VERTICAL SEGMENT TO GROW AT LARGEST MARKET SIZE DURING FORECAST PERIOD
TABLE 48 MARKET, BY VERTICAL, 2018–2021 (USD MILLION)
TABLE 49 MARKET, BY VERTICAL, 2022–2027 (USD MILLION)
9.2 BANKING, FINANCIAL SERVICES, AND INSURANCE
9.2.1 NEED TO MAXIMIZE STAFF PRODUCTIVITY AND SAVE TIME TO DRIVE ACCOUNTS RECEIVABLE AUTOMATION SOLUTIONS' ADOPTION
TABLE 50 BANKING, FINANCIAL SERVICES, AND INSURANCE: MARKET, BY REGION, 2018–2021 (USD MILLION)
TABLE 51 BANKING, FINANCIAL SERVICES, AND INSURANCE: MARKET, BY REGION, 2022–2027 (USD MILLION)
9.3 IT & TELECOM
9.3.1 INCREASING NEED TO STREAMLINE BUSINESS PROCESSES TO DRIVE ACCOUNTS RECEIVABLE AUTOMATION SOLUTIONS’ ADOPTION
TABLE 52 IT & TELECOM: MARKET, BY REGION, 2018–2021 (USD MILLION)
TABLE 53 IT & TELECOM: MARKET, BY REGION, 2022–2027 (USD MILLION)
9.4 MANUFACTURING
9.4.1 NEED FOR FASTER PAYMENT PROCESSING TO DRIVE ADOPTION OF ACCOUNTS RECEIVABLE AUTOMATION SOLUTION
TABLE 54 MANUFACTURING: MARKET, BY REGION, 2018–2021 (USD MILLION)
TABLE 55 MANUFACTURING: MARKET, BY REGION, 2022–2027 (USD MILLION)
9.5 CONSUMER GOODS & RETAIL
9.5.1 GROWING NECESSITY TO REDUCE COSTS, OPTIMIZE EFFICIENCY, AND STREAMLINE BACK-OFFICE FUNCTIONS TO DRIVE ADOPTION
TABLE 56 CONSUMER GOODS & RETAIL: MARKET, BY REGION, 2018–2021 (USD MILLION)
TABLE 57 CONSUMER GOODS & RETAIL: MARKET, BY REGION, 2022–2027 (USD MILLION)
9.6 HEALTHCARE
9.6.1 SURGING NEED TO MAINTAIN ACCURACY IN PAYMENT ACCEPTANCE PROCESS TO DRIVE ADOPTION
TABLE 58 HEALTHCARE: MARKET, BY REGION, 2018–2021 (USD MILLION)
TABLE 59 HEALTHCARE: MARKET, BY REGION, 2022–2027 (USD MILLION)
9.7 ENERGY & UTILITIES
9.7.1 GROWING NECESSITY TO CONTROL INCREASING OVERHEAD COSTS AND IMPROVE CASH FLOW TO DRIVE ADOPTION
TABLE 60 ENERGY & UTILITIES: MARKET, BY REGION, 2018–2021 (USD MILLION)
TABLE 61 ENERGY & UTILITIES: MARKET, BY REGION, 2022–2027 (USD MILLION)
9.8 OTHER VERTICALS
TABLE 62 OTHER VERTICALS: MARKET, BY REGION, 2018–2021 (USD MILLION)
TABLE 63 OTHER VERTICALS: MARKET, BY REGION, 2022–2027 (USD MILLION)
10 ACCOUNTS RECEIVABLE AUTOMATION MARKET, BY REGION (Page No. - 119)
10.1 INTRODUCTION
10.1.1 MARKET: COVID-19 IMPACT
FIGURE 45 NORTH AMERICA TO LEAD ACCOUNTS RECEIVABLE AUTOMATION MARKET DURING FORECAST PERIOD
FIGURE 46 ASIA PACIFIC TO GROW AT HIGHEST CAGR DURING FORECAST PERIOD
TABLE 64 MARKET, BY REGION, 2018–2021 (USD MILLION)
TABLE 65 MARKET, BY REGION, 2022–2027 (USD MILLION)
10.2 NORTH AMERICA
10.2.1 NORTH AMERICA: MARKET DRIVERS
FIGURE 47 NORTH AMERICA: MARKET SNAPSHOT
TABLE 66 NORTH AMERICA: MARKET, BY COMPONENT, 2018–2021 (USD MILLION)
TABLE 67 NORTH AMERICA: MARKET, BY COMPONENT, 2022–2027 (USD MILLION)
TABLE 68 NORTH AMERICA: MARKET, BY SERVICE, 2018–2021 (USD MILLION)
TABLE 69 NORTH AMERICA: MARKET, BY SERVICE, 2022–2027 (USD MILLION)
TABLE 70 NORTH AMERICA: MARKET, BY PROFESSIONAL SERVICE, 2018–2021 (USD MILLION)
TABLE 71 NORTH AMERICA: MARKET, BY PROFESSIONAL SERVICE, 2022–2027 (USD MILLION)
TABLE 72 NORTH AMERICA: MARKET, BY DEPLOYMENT MODE, 2018–2021 (USD MILLION)
TABLE 73 NORTH AMERICA: MARKET, BY DEPLOYMENT MODE, 2022–2027 (USD MILLION)
TABLE 74 NORTH AMERICA: MARKET, BY ORGANIZATION SIZE, 2018–2021 (USD MILLION)
TABLE 75 NORTH AMERICA: MARKET, BY ORGANIZATION SIZE, 2022–2027 (USD MILLION)
TABLE 76 NORTH AMERICA: MARKET, BY VERTICAL, 2018–2021 (USD MILLION)
TABLE 77 NORTH AMERICA: MARKET, BY VERTICAL, 2022–2027 (USD MILLION)
TABLE 78 NORTH AMERICA: MARKET, BY COUNTRY, 2018–2021 (USD MILLION)
TABLE 79 NORTH AMERICA: MARKET, BY COUNTRY, 2022–2027 (USD MILLION)
10.2.2 UNITED STATES
10.2.2.1 Presence of large number of accounts receivable automation solution providers to drive market growth in US
TABLE 80 UNITED STATES: ACCOUNTS RECEIVABLE AUTOMATION MARKET, BY COMPONENT, 2018–2021 (USD MILLION)
TABLE 81 UNITED STATES: MARKET, BY COMPONENT, 2022–2027 (USD MILLION)
TABLE 82 UNITED STATES: MARKET, BY DEPLOYMENT MODE, 2018–2021 (USD MILLION)
TABLE 83 UNITED STATES: MARKET, BY DEPLOYMENT MODE, 2022–2027 (USD MILLION)
TABLE 84 UNITED STATES: MARKET, BY ORGANIZATION SIZE, 2018–2021 (USD MILLION)
TABLE 85 UNITED STATES: MARKET, BY ORGANIZATION SIZE, 2022–2027 (USD MILLION)
10.2.3 CANADA
10.2.3.1 Changing paradigm of businesses toward adopting digitalized solutions to fuel adoption of accounts receivable solutions in Canada
TABLE 86 CANADA: MARKET, BY COMPONENT, 2018–2021 (USD MILLION)
TABLE 87 CANADA: MARKET, BY COMPONENT, 2022–2027 (USD MILLION)
TABLE 88 CANADA: MARKET, BY DEPLOYMENT MODE, 2018–2021 (USD MILLION)
TABLE 89 CANADA: MARKET, BY DEPLOYMENT MODE, 2022–2027 (USD MILLION)
TABLE 90 CANADA: MARKET, BY ORGANIZATION SIZE, 2018–2021 (USD MILLION)
TABLE 91 CANADA: MARKET, BY ORGANIZATION SIZE, 2022–2027 (USD MILLION)
10.3 EUROPE
10.3.1 EUROPE: ACCOUNTS RECEIVABLE AUTOMATION MARKET DRIVERS
TABLE 92 EUROPE: MARKET, BY COMPONENT, 2018–2021 (USD MILLION)
TABLE 93 EUROPE: MARKET, BY COMPONENT, 2022–2027 (USD MILLION)
TABLE 94 EUROPE: MARKET, BY SERVICE, 2018–2021 (USD MILLION)
TABLE 95 EUROPE: MARKET, BY SERVICE, 2022–2027 (USD MILLION)
TABLE 96 EUROPE: MARKET, BY PROFESSIONAL SERVICE, 2018–2021 (USD MILLION)
TABLE 97 EUROPE: MARKET, BY PROFESSIONAL SERVICE, 2022–2027 (USD MILLION)
TABLE 98 EUROPE: MARKET, BY DEPLOYMENT MODE, 2018–2021 (USD MILLION)
TABLE 99 EUROPE: MARKET, BY DEPLOYMENT MODE, 2022–2027 (USD MILLION)
TABLE 100 EUROPE: MARKET, BY ORGANIZATION SIZE, 2018–2021 (USD MILLION)
TABLE 101 EUROPE: MARKET, BY ORGANIZATION SIZE, 2022–2027 (USD MILLION)
TABLE 102 EUROPE: MARKET, BY VERTICAL, 2018–2021 (USD MILLION)
TABLE 103 EUROPE: MARKET, BY VERTICAL, 2022–2027 (USD MILLION)
TABLE 104 EUROPE: MARKET, BY COUNTRY, 2018–2021 (USD MILLION)
TABLE 105 EUROPE: MARKET, BY COUNTRY, 2022–2027 (USD MILLION)
10.3.2 UNITED KINGDOM
10.3.2.1 Need for efficient management of invoices to drive adoption of accounts receivable automation solution
TABLE 106 UNITED KINGDOM: ACCOUNTS RECEIVABLE AUTOMATION MARKET, BY COMPONENT, 2018–2021 (USD MILLION)
TABLE 107 UNITED KINGDOM: MARKET, BY COMPONENT, 2022–2027 (USD MILLION)
TABLE 108 UNITED KINGDOM: MARKET, BY DEPLOYMENT MODE, 2018–2021 (USD MILLION)
TABLE 109 UNITED KINGDOM: MARKET, BY DEPLOYMENT MODE, 2022–2027 (USD MILLION)
TABLE 110 UNITED KINGDOM: MARKET, BY ORGANIZATION SIZE, 2018–2021 (USD MILLION)
TABLE 111 UNITED KINGDOM: MARKET, BY ORGANIZATION SIZE, 2022–2027 (USD MILLION)
10.3.3 GERMANY
10.3.3.1 Focus on smaller enterprises to provide enhanced AR automation experience to drive accounts receivable automation solutions’ adoption
TABLE 112 GERMANY: MARKET, BY COMPONENT, 2018–2021 (USD MILLION)
TABLE 113 GERMANY: MARKET, BY COMPONENT, 2022–2027 (USD MILLION)
TABLE 114 GERMANY: MARKET, BY DEPLOYMENT MODE, 2018–2021 (USD MILLION)
TABLE 115 GERMANY: MARKET, BY DEPLOYMENT MODE, 2022–2027 (USD MILLION)
TABLE 116 GERMANY: MARKET, BY ORGANIZATION SIZE, 2018–2021 (USD MILLION)
TABLE 117 GERMANY: MARKET, BY ORGANIZATION SIZE, 2022–2027 (USD MILLION)
10.3.4 FRANCE
10.3.4.1 Growing need among enterprises to improve operational efficiency to drive growth of accounts receivable automation market in France
TABLE 118 FRANCE: MARKET, BY COMPONENT, 2018–2021 (USD MILLION)
TABLE 119 FRANCE: MARKET, BY COMPONENT, 2022–2027 (USD MILLION)
TABLE 120 FRANCE: MARKET, BY DEPLOYMENT MODE, 2018–2021 (USD MILLION)
TABLE 121 FRANCE: MARKET, BY DEPLOYMENT MODE, 2022–2027 (USD MILLION)
TABLE 122 FRANCE: MARKET, BY ORGANIZATION SIZE, 2018–2021 (USD MILLION)
TABLE 123 FRANCE: MARKET, BY ORGANIZATION SIZE, 2022–2027 (USD MILLION)
10.3.5 REST OF EUROPE
TABLE 124 REST OF EUROPE: ACCOUNTS RECEIVABLE AUTOMATION MARKET, BY COMPONENT, 2018–2021 (USD MILLION)
TABLE 125 REST OF EUROPE: MARKET, BY COMPONENT, 2022–2027 (USD MILLION)
TABLE 126 REST OF EUROPE: MARKET, BY DEPLOYMENT MODE, 2018–2021 (USD MILLION)
TABLE 127 REST OF EUROPE: MARKET, BY DEPLOYMENT MODE, 2022–2027 (USD MILLION)
TABLE 128 REST OF EUROPE: MARKET, BY ORGANIZATION SIZE, 2018–2021 (USD MILLION)
TABLE 129 REST OF EUROPE: MARKET, BY ORGANIZATION SIZE, 2022–2027 (USD MILLION)
10.4 ASIA PACIFIC
10.4.1 ASIA PACIFIC: ACCOUNTS RECEIVABLE AUTOMATION MARKET DRIVERS
FIGURE 48 ASIA PACIFIC: MARKET SNAPSHOT
TABLE 130 ASIA PACIFIC: MARKET, BY COMPONENT, 2018–2021 (USD MILLION)
TABLE 131 ASIA PACIFIC: MARKET, BY COMPONENT, 2022–2027 (USD MILLION)
TABLE 132 ASIA PACIFIC: MARKET, BY SERVICE, 2018–2021 (USD MILLION)
TABLE 133 ASIA PACIFIC: MARKET, BY SERVICE, 2022–2027 (USD MILLION)
TABLE 134 ASIA PACIFIC: MARKET, BY PROFESSIONAL SERVICE, 2018–2021 (USD MILLION)
TABLE 135 ASIA PACIFIC: MARKET, BY PROFESSIONAL SERVICE, 2022–2027 (USD MILLION)
TABLE 136 ASIA PACIFIC: MARKET, BY DEPLOYMENT MODE, 2018–2021 (USD MILLION)
TABLE 137 ASIA PACIFIC: MARKET, BY DEPLOYMENT MODE, 2022–2027 (USD MILLION)
TABLE 138 ASIA PACIFIC: MARKET, BY ORGANIZATION SIZE, 2018–2021 (USD MILLION)
TABLE 139 ASIA PACIFIC: MARKET, BY ORGANIZATION SIZE, 2022–2027 (USD MILLION)
TABLE 140 ASIA PACIFIC: MARKET, BY VERTICAL, 2018–2021 (USD MILLION)
TABLE 141 ASIA PACIFIC: MARKET, BY VERTICAL, 2022–2027 (USD MILLION)
TABLE 142 ASIA PACIFIC: MARKET, BY COUNTRY, 2018–2021 (USD MILLION)
TABLE 143 ASIA PACIFIC: MARKET, BY COUNTRY, 2022–2027 (USD MILLION)
10.4.2 JAPAN
10.4.2.1 Growing investment in new technologies across Japan to maintain its position in global accounts receivable automation market
TABLE 144 JAPAN: MARKET, BY COMPONENT, 2018–2021 (USD MILLION)
TABLE 145 JAPAN: MARKET, BY COMPONENT, 2022–2027 (USD MILLION)
TABLE 146 JAPAN: MARKET, BY DEPLOYMENT MODE, 2018–2021 (USD MILLION)
TABLE 147 JAPAN: MARKET, BY DEPLOYMENT MODE, 2022–2027 (USD MILLION)
TABLE 148 JAPAN: MARKET, BY ORGANIZATION SIZE, 2018–2021 (USD MILLION)
TABLE 149 JAPAN: MARKET, BY ORGANIZATION SIZE, 2022–2027 (USD MILLION)
10.4.3 CHINA
10.4.3.1 Organizations’ demand to manage high-volume smaller accounts to drive accounts receivable automation solutions’ adoption
TABLE 150 CHINA: MARKET, BY COMPONENT, 2018–2021 (USD MILLION)
TABLE 151 CHINA: MARKET, BY COMPONENT, 2022–2027 (USD MILLION)
TABLE 152 CHINA: MARKET, BY DEPLOYMENT MODE, 2018–2021 (USD MILLION)
TABLE 153 CHINA: MARKET, BY DEPLOYMENT MODE, 2022–2027 (USD MILLION)
TABLE 154 CHINA: MARKET, BY ORGANIZATION SIZE, 2018–2021 (USD MILLION)
TABLE 155 CHINA: MARKET, BY ORGANIZATION SIZE, 2022–2027 (USD MILLION)
10.4.4 INDIA
10.4.4.1 Government focus on improving cash flow and reducing DSO to drive accounts receivable automation solutions’ adoption
TABLE 156 INDIA: MARKET, BY COMPONENT, 2018–2021 (USD MILLION)
TABLE 157 INDIA: MARKET, BY COMPONENT, 2022–2027 (USD MILLION)
TABLE 158 INDIA: MARKET, BY DEPLOYMENT MODE, 2018–2021 (USD MILLION)
TABLE 159 INDIA: MARKET, BY DEPLOYMENT MODE, 2022–2027 (USD MILLION)
TABLE 160 INDIA: MARKET, BY ORGANIZATION SIZE, 2018–2021 (USD MILLION)
TABLE 161 INDIA: MARKET, BY ORGANIZATION SIZE, 2022–2027 (USD MILLION)
10.4.5 AUSTRALIA
10.4.5.1 Need to manage customer accounts and meet diverse customer demands to drive accounts receivable automation solutions’ adoption
TABLE 162 AUSTRALIA: MARKET, BY COMPONENT, 2018–2021 (USD MILLION)
TABLE 163 AUSTRALIA: MARKET, BY COMPONENT, 2022–2027 (USD MILLION)
TABLE 164 AUSTRALIA: MARKET, BY DEPLOYMENT MODE, 2018–2021 (USD MILLION)
TABLE 165 AUSTRALIA: MARKET, BY DEPLOYMENT MODE, 2022–2027 (USD MILLION)
TABLE 166 AUSTRALIA: MARKET, BY ORGANIZATION SIZE, 2018–2021 (USD MILLION)
TABLE 167 AUSTRALIA: MARKET, BY ORGANIZATION SIZE, 2022–2027 (USD MILLION)
10.4.6 REST OF ASIA PACIFIC
TABLE 168 REST OF ASIA PACIFIC: MARKET, BY COMPONENT, 2018–2021 (USD MILLION)
TABLE 169 REST OF ASIA PACIFIC: MARKET, BY COMPONENT, 2022–2027 (USD MILLION)
TABLE 170 REST OF ASIA PACIFIC: MARKET, BY DEPLOYMENT MODE, 2018–2021 (USD MILLION)
TABLE 171 REST OF ASIA PACIFIC: MARKET, BY DEPLOYMENT MODE, 2022–2027 (USD MILLION)
TABLE 172 REST OF ASIA PACIFIC: MARKET, BY ORGANIZATION SIZE, 2018–2021 (USD MILLION)
TABLE 173 REST OF ASIA PACIFIC: MARKET, BY ORGANIZATION SIZE, 2022–2027 (USD MILLION)
10.5 MIDDLE EAST & AFRICA
10.5.1 MIDDLE EAST & AFRICA: ACCOUNTS RECEIVABLE AUTOMATION MARKET DRIVERS
TABLE 174 MIDDLE EAST & AFRICA: MARKET, BY COMPONENT, 2018–2021 (USD MILLION)
TABLE 175 MIDDLE EAST & AFRICA: MARKET, BY COMPONENT, 2022–2027 (USD MILLION)
TABLE 176 MIDDLE EAST & AFRICA: MARKET, BY SERVICE, 2018–2021 (USD MILLION)
TABLE 177 MIDDLE EAST & AFRICA: MARKET, BY SERVICE, 2022–2027 (USD MILLION)
TABLE 178 MIDDLE EAST & AFRICA: MARKET, BY PROFESSIONAL SERVICE, 2018–2021 (USD MILLION)
TABLE 179 MIDDLE EAST & AFRICA: MARKET, BY PROFESSIONAL SERVICE, 2022–2027 (USD MILLION)
TABLE 180 MIDDLE EAST & AFRICA: MARKET, BY DEPLOYMENT MODE, 2018–2021 (USD MILLION)
TABLE 181 MIDDLE EAST & AFRICA: MARKET, BY DEPLOYMENT MODE, 2022–2027 (USD MILLION)
TABLE 182 MIDDLE EAST & AFRICA: MARKET, BY ORGANIZATION SIZE, 2018–2021 (USD MILLION)
TABLE 183 MIDDLE EAST & AFRICA: MARKET, BY ORGANIZATION SIZE, 2022–2027 (USD MILLION)
TABLE 184 MIDDLE EAST & AFRICA: MARKET, BY VERTICAL, 2018–2021 (USD MILLION)
TABLE 185 MIDDLE EAST & AFRICA: MARKET, BY VERTICAL, 2022–2027 (USD MILLION)
TABLE 186 MIDDLE EAST & AFRICA: MARKET, BY COUNTRY, 2018–2021 (USD MILLION)
TABLE 187 MIDDLE EAST & AFRICA: MARKET, BY COUNTRY, 2022–2027 (USD MILLION)
10.5.2 KINGDOM OF SAUDI ARABIA
10.5.2.1 Compelling need to follow eInvoicing regulatory landscape to fuel demand for accounts receivable automation solutions
TABLE 188 KINGDOM OF SAUDI ARABIA: ACCOUNTS RECEIVABLE AUTOMATION MARKET, BY COMPONENT, 2018–2021 (USD MILLION)
TABLE 189 KINGDOM OF SAUDI ARABIA: MARKET, BY COMPONENT, 2022–2027 (USD MILLION)
TABLE 190 KINGDOM OF SAUDI ARABIA: MARKET, BY DEPLOYMENT MODE, 2018–2021 (USD MILLION)
TABLE 191 KINGDOM OF SAUDI ARABIA: MARKET, BY DEPLOYMENT MODE, 2022–2027 (USD MILLION)
TABLE 192 KINGDOM OF SAUDI ARABIA: MARKET, BY ORGANIZATION SIZE, 2018–2021 (USD MILLION)
TABLE 193 KINGDOM OF SAUDI ARABIA: MARKET, BY ORGANIZATION SIZE, 2022–2027 (USD MILLION)
10.5.3 UNITED ARAB EMIRATES
10.5.3.1 Growing need for efficient accounting processes among enterprises to drive growth of market
TABLE 194 UNITED ARAB EMIRATES: ACCOUNTS RECEIVABLE AUTOMATION MARKET, BY COMPONENT, 2018–2021 (USD MILLION)
TABLE 195 UNITED ARAB EMIRATES: MARKET, BY COMPONENT, 2022–2027 (USD MILLION)
TABLE 196 UNITED ARAB EMIRATES: MARKET, BY DEPLOYMENT MODE, 2018–2021 (USD MILLION)
TABLE 197 UNITED ARAB EMIRATES: MARKET, BY DEPLOYMENT MODE, 2022–2027 (USD MILLION)
TABLE 198 UNITED ARAB EMIRATES: MARKET, BY ORGANIZATION SIZE, 2018–2021 (USD MILLION)
TABLE 199 UNITED ARAB EMIRATES: MARKET, BY ORGANIZATION SIZE, 2022–2027 (USD MILLION)
10.5.4 REST OF MIDDLE EAST & AFRICA
TABLE 200 REST OF MIDDLE EAST & AFRICA: ACCOUNTS RECEIVABLE AUTOMATION MARKET, BY COMPONENT, 2018–2021 (USD MILLION)
TABLE 201 REST OF MIDDLE EAST & AFRICA: MARKET, BY COMPONENT, 2022–2027 (USD MILLION)
TABLE 202 REST OF MIDDLE EAST & AFRICA: MARKET, BY DEPLOYMENT MODE, 2018–2021 (USD MILLION)
TABLE 203 REST OF MIDDLE EAST & AFRICA: MARKET, BY DEPLOYMENT MODE, 2022–2027 (USD MILLION)
TABLE 204 REST OF MIDDLE EAST & AFRICA: MARKET, BY ORGANIZATION SIZE, 2018–2021 (USD MILLION)
TABLE 205 REST OF MIDDLE EAST & AFRICA: MARKET, BY ORGANIZATION SIZE, 2022–2027 (USD MILLION)
10.6 LATIN AMERICA
10.6.1 LATIN AMERICA: ACCOUNTS RECEIVABLE AUTOMATION MARKET DRIVERS
TABLE 206 LATIN AMERICA: MARKET, BY COMPONENT, 2018–2021 (USD MILLION)
TABLE 207 LATIN AMERICA: MARKET, BY COMPONENT, 2022–2027 (USD MILLION)
TABLE 208 LATIN AMERICA: MARKET, BY SERVICE, 2018–2021 (USD MILLION)
TABLE 209 LATIN AMERICA: MARKET, BY SERVICE, 2022–2027 (USD MILLION)
TABLE 210 LATIN AMERICA: MARKET, BY PROFESSIONAL SERVICE, 2018–2021 (USD MILLION)
TABLE 211 LATIN AMERICA: MARKET, BY PROFESSIONAL SERVICE, 2022–2027 (USD MILLION)
TABLE 212 LATIN AMERICA: MARKET, BY DEPLOYMENT MODE, 2018–2021 (USD MILLION)
TABLE 213 LATIN AMERICA: MARKET, BY DEPLOYMENT MODE, 2022–2027 (USD MILLION)
TABLE 214 LATIN AMERICA: MARKET, BY ORGANIZATION SIZE, 2018–2021 (USD MILLION)
TABLE 215 LATIN AMERICA: MARKET, BY ORGANIZATION SIZE, 2022–2027 (USD MILLION)
TABLE 216 LATIN AMERICA: MARKET, BY VERTICAL, 2018–2021 (USD MILLION)
TABLE 217 LATIN AMERICA: MARKET, BY VERTICAL, 2022–2027 (USD MILLION)
TABLE 218 LATIN AMERICA: MARKET, BY COUNTRY, 2018–2021 (USD MILLION)
TABLE 219 LATIN AMERICA: MARKET, BY COUNTRY, 2022–2027 (USD MILLION)
10.6.2 BRAZIL
10.6.2.1 Huge investments in finance sector to promote accounting process by introducing automation to drive its adoption
TABLE 220 BRAZIL: MARKET, BY COMPONENT, 2018–2021 (USD MILLION)
TABLE 221 BRAZIL: MARKET, BY COMPONENT, 2022–2027 (USD MILLION)
TABLE 222 BRAZIL: MARKET, BY DEPLOYMENT MODE, 2018–2021 (USD MILLION)
TABLE 223 BRAZIL: MARKET, BY DEPLOYMENT MODE, 2022–2027 (USD MILLION)
TABLE 224 BRAZIL: MARKET, BY ORGANIZATION SIZE, 2018–2021 (USD MILLION)
TABLE 225 BRAZIL: MARKET, BY ORGANIZATION SIZE, 2022–2027 (USD MILLION)
10.6.3 MEXICO
10.6.3.1 Growing need to streamline business operations to drive growth of market
TABLE 226 MEXICO: MARKET, BY COMPONENT, 2018–2021 (USD MILLION)
TABLE 227 MEXICO: MARKET, BY COMPONENT, 2022–2027 (USD MILLION)
TABLE 228 MEXICO: MARKET, BY DEPLOYMENT MODE, 2018–2021 (USD MILLION)
TABLE 229 MEXICO: MARKET, BY DEPLOYMENT MODE, 2022–2027 (USD MILLION)
TABLE 230 MEXICO: MARKET, BY ORGANIZATION SIZE, 2018–2021 (USD MILLION)
TABLE 231 MEXICO: MARKET, BY ORGANIZATION SIZE, 2022–2027 (USD MILLION)
10.6.4 REST OF LATIN AMERICA
TABLE 232 REST OF LATIN AMERICA: ACCOUNTS RECEIVABLE AUTOMATION MARKET, BY COMPONENT, 2018–2021 (USD MILLION)
TABLE 233 REST OF LATIN AMERICA: MARKET, BY COMPONENT, 2022–2027 (USD MILLION)
TABLE 234 REST OF LATIN AMERICA: MARKET, BY DEPLOYMENT MODE, 2018–2021 (USD MILLION)
TABLE 235 REST OF LATIN AMERICA: MARKET, BY DEPLOYMENT MODE, 2022–2027 (USD MILLION)
TABLE 236 REST OF LATIN AMERICA: MARKET, BY ORGANIZATION SIZE, 2018–2021 (USD MILLION)
TABLE 237 REST OF LATIN AMERICA: MARKET, BY ORGANIZATION SIZE, 2022–2027 (USD MILLION)
11 COMPETITIVE LANDSCAPE (Page No. - 181)
11.1 OVERVIEW
11.2 MARKET EVALUATION FRAMEWORK
FIGURE 49 MARKET EVALUATION FRAMEWORK, 2019–2021
11.3 KEY PLAYER STRATEGIES/RIGHT TO WIN
TABLE 238 OVERVIEW OF STRATEGIES ADOPTED BY KEY ACCOUNTS RECEIVABLE AUTOMATION VENDORS
11.4 REVENUE ANALYSIS
FIGURE 50 HISTORICAL THREE-YEAR REVENUE ANALYSIS OF LEADING PLAYERS, 2019–2021 (USD BILLION)
11.5 MARKET SHARE ANALYSIS
FIGURE 51 ACCOUNTS RECEIVABLE AUTOMATION MARKET: MARKET SHARE ANALYSIS, 2021
TABLE 239 MARKET: DEGREE OF COMPETITION
11.6 COMPANY EVALUATION QUADRANT
TABLE 240 COMPANY EVALUATION QUADRANT: CRITERIA
11.6.1 STARS
11.6.2 EMERGING LEADERS
11.6.3 PERVASIVE PLAYERS
11.6.4 PARTICIPANTS
FIGURE 52 ACCOUNTS RECEIVABLE AUTOMATION MARKET, KEY COMPANY EVALUATION MATRIX, 2022
11.6.5 COMPANY PRODUCT FOOTPRINT ANALYSIS
TABLE 241 OVERALL COMPANY FOOTPRINT
TABLE 242 COMPANY COMPONENT FOOTPRINT
TABLE 243 COMPANY VERTICAL FOOTPRINT
TABLE 244 COMPANY REGION FOOTPRINT
11.7 RANKING OF KEY PLAYERS
FIGURE 53 RANKING OF KEY PLAYERS IN ACCOUNTS RECEIVABLE AUTOMATION MARKET, 2021
11.8 STARTUP/SME EVALUATION MATRIX
FIGURE 54 STARTUP/SME EVALUATION MATRIX: CRITERIA WEIGHTAGE
11.8.1 PROGRESSIVE COMPANIES
11.8.2 RESPONSIVE COMPANIES
11.8.3 DYNAMIC COMPANIES
11.8.4 STARTING BLOCKS
FIGURE 55 ACCOUNTS RECEIVABLE AUTOMATION MARKET (GLOBAL) STARTUP/SME COMPANY EVALUATION MATRIX, 2022
11.8.5 COMPETITIVE BENCHMARKING
TABLE 245 ACCOUNTS RECEIVABLE AUTOMATION MARKET: DETAILED LIST OF KEY STARTUP/SMES
TABLE 246 MARKET: COMPETITIVE BENCHMARKING OF KEY PLAYERS (STARTUPS/SMES)
11.9 KEY MARKET DEVELOPMENTS
11.9.1 PRODUCT LAUNCHES & ENHANCEMENTS
TABLE 247 PRODUCT LAUNCHES & ENHANCEMENTS, 2019–2022
11.9.2 DEALS
TABLE 248 DEALS, 2019–2022
12 COMPANY PROFILES (Page No. - 201)
12.1 INTRODUCTION
12.2 MAJOR PLAYERS
(Business Overview, Solutions, Products & Services, Recent Developments, MnM View)*
12.2.1 SAGE
TABLE 249 SAGE: BUSINESS OVERVIEW
FIGURE 56 SAGE: COMPANY SNAPSHOT
TABLE 250 SAGE: PRODUCTS/SOLUTIONS/SERVICES OFFERED
TABLE 251 SAGE: MARKET: NEW LAUNCHES
TABLE 252 SAGE: MARKET: DEALS
12.2.2 SAP
TABLE 253 SAP: BUSINESS OVERVIEW
FIGURE 57 SAP: COMPANY SNAPSHOT
TABLE 254 SAP: PRODUCTS/SOLUTIONS/SERVICES OFFERED
TABLE 255 SAP: MARKET: DEALS
12.2.3 ORACLE
TABLE 256 ORACLE: BUSINESS OVERVIEW
FIGURE 58 ORACLE: COMPANY SNAPSHOT
TABLE 257 ORACLE: PRODUCTS/SOLUTIONS/SERVICES OFFERED
TABLE 258 ORACLE: MARKET: NEW LAUNCHES
12.2.4 WORKDAY
TABLE 259 WORKDAY: BUSINESS OVERVIEW
FIGURE 59 WORKDAY: COMPANY SNAPSHOT
TABLE 260 WORKDAY: PRODUCTS/SOLUTIONS/SERVICES OFFERED
TABLE 261 WORKDAY: MARKET: NEW LAUNCHES
TABLE 262 WORKDAY: MARKET: DEALS
12.2.5 BOTTOMLINE TECHNOLOGIES
TABLE 263 BOTTOMLINE TECHNOLOGIES: BUSINESS OVERVIEW
FIGURE 60 BOTTOMLINE TECHNOLOGIES: COMPANY SNAPSHOT
TABLE 264 BOTTOMLINE TECHNOLOGIES: PRODUCT/SOLUTIONS/SERVICES OFFERED
TABLE 265 BOTTOMLINE TECHNOLOGIES: MARKET: NEW LAUNCHES
TABLE 266 BOTTOMLINE TECHNOLOGIES: MARKET: DEALS
12.2.6 COMARCH
TABLE 267 COMARCH: BUSINESS OVERVIEW
FIGURE 61 COMARCH: COMPANY SNAPSHOT
TABLE 268 COMARCH: PRODUCT/SOLUTIONS/SERVICES OFFERED
TABLE 269 COMARCH: MARKET: NEW LAUNCHES
TABLE 270 COMARCH: MARKET: DEALS
12.2.7 ESKER
TABLE 271 ESKER: BUSINESS OVERVIEW
FIGURE 62 ESKER: COMPANY SNAPSHOT
TABLE 272 ESKER: PRODUCT/SOLUTIONS/SERVICES OFFERED
TABLE 273 ESKER: MARKET: NEW LAUNCHES
TABLE 274 ESKER: MARKET: DEALS
12.2.8 ZOHO
TABLE 275 ZOHO: BUSINESS OVERVIEW
TABLE 276 ZOHO: PRODUCT/SOLUTIONS/SERVICES OFFERED
TABLE 277 ZOHO: MARKET: NEW LAUNCHES
12.2.9 BLACKLINE
TABLE 278 BLACKLINE: BUSINESS OVERVIEW
FIGURE 63 BLACKLINE: COMPANY SNAPSHOT
TABLE 279 BLACKLINE: PRODUCT/SOLUTIONS/SERVICES OFFERED
TABLE 280 BLACKLINE: MARKET: NEW LAUNCHES
TABLE 281 BLACKLINE: MARKET: DEALS
12.2.10 HIGHRADIUS
TABLE 282 HIGHRADIUS: BUSINESS OVERVIEW
TABLE 283 HIGHRADIUS: PRODUCT/SOLUTIONS/SERVICES OFFERED
TABLE 284 HIGHRADIUS: MARKET: NEW LAUNCHES
TABLE 285 HIGHRADIUS: MARKET: DEALS
*Details on Business Overview, Solutions, Products & Services, Recent Developments, MnM View might not be captured in case of unlisted companies.
12.3 OTHER VENDORS
12.3.1 KOFAX
12.3.2 FINANCIALFORCE
12.3.3 EMAGIA
12.3.4 VERSAPAY
12.3.5 CORCENTRIC
12.3.6 BILL.COM
12.3.7 BILLTRUST
12.3.8 QVALIA
12.3.9 ACCOUNTING SEED
12.3.10 REDWOOD SOFTWARE
12.4 SME/STARTUPS
12.4.1 YAYPAY
12.4.2 INVOICED
12.4.3 BILLINGPLATFORM
12.4.4 EZYCOLLECT
12.4.5 CHARGEBEE
12.4.6 PAYSTAND
12.4.7 TESORIO
12.4.8 PIPEFY
12.4.9 GAVITI
12.4.10 SYNDER
13 ADJACENT MARKETS (Page No. - 251)
13.1 INTRODUCTION TO ADJACENT MARKETS
TABLE 286 ADJACENT MARKETS AND FORECASTS
13.2 LIMITATIONS
13.3 ACCOUNTS RECEIVABLE AUTOMATION MARKET ECOSYSTEM AND ADJACENT MARKETS
13.4 ACCOUNTS PAYABLE AUTOMATION MARKET
13.4.1 ACCOUNTS PAYABLE AUTOMATION MARKET, BY COMPONENT
TABLE 287 ACCOUNTS PAYABLE AUTOMATION MARKET SIZE, BY COMPONENT, 2017–2024 (USD MILLION)
13.4.2 ACCOUNTS PAYABLE AUTOMATION MARKET, BY ORGANIZATION SIZE
TABLE 288 ACCOUNTS PAYABLE AUTOMATION MARKET SIZE, BY ORGANIZATION SIZE, 2017–2024 (USD MILLION)
13.4.3 ACCOUNTS PAYABLE AUTOMATION MARKET, BY DEPLOYMENT TYPE
TABLE 289 ACCOUNTS PAYABLE AUTOMATION MARKET SIZE, BY DEPLOYMENT TYPE, 2017–2024 (USD MILLION)
13.4.4 ACCOUNTS PAYABLE AUTOMATION MARKET, BY VERTICAL
TABLE 290 ACCOUNTS PAYABLE AUTOMATION MARKET SIZE, BY VERTICAL, 2017–2024 (USD MILLION)
13.4.5 ACCOUNTS PAYABLE AUTOMATION MARKET, BY REGION
TABLE 291 ACCOUNTS PAYABLE AUTOMATION MARKET SIZE, BY REGION, 2017–2024 (USD MILLION)
13.5 ARTIFICIAL INTELLIGENCE IN ACCOUNTING MARKET
13.5.1 AI IN ACCOUNTING MARKET, BY COMPONENT
TABLE 292 AI IN ACCOUNTING MARKET SIZE, BY COMPONENT, 2017–2024 (USD MILLION)
13.5.2 AI IN ACCOUNTING MARKET, BY DEPLOYMENT MODE
TABLE 293 AI IN ACCOUNTING MARKET SIZE, BY DEPLOYMENT MODE, 2017–2024 (USD MILLION)
13.5.3 AI IN ACCOUNTING MARKET, BY TECHNOLOGY
TABLE 294 AI IN ACCOUNTING MARKET SIZE, BY TECHNOLOGY, 2017–2024 (USD MILLION)
13.5.4 AI IN ACCOUNTING MARKET, BY ENTERPRISE SIZE
TABLE 295 AI IN ACCOUNTING MARKET SIZE, BY ENTERPRISE SIZE, 2017–2024 (USD MILLION)
13.5.5 AI IN ACCOUNTING MARKET, BY APPLICATION
TABLE 296 AI IN ACCOUNTING MARKET SIZE, BY APPLICATION, 2017–2024 (USD MILLION)
13.5.6 AI IN ACCOUNTING MARKET, BY REGION
TABLE 297 AI IN ACCOUNTING MARKET SIZE, BY REGION, 2017–2024 (USD MILLION)
14 APPENDIX (Page No. - 259)
14.1 DISCUSSION GUIDE
14.2 KNOWLEDGE STORE: MARKETSANDMARKETS’ SUBSCRIPTION PORTAL
14.3 AVAILABLE CUSTOMIZATIONS
14.4 RELATED REPORTS
14.5 AUTHOR DETAILS
The study involves four major activities in estimating the current size of the accounts receivable automation market. Exhaustive secondary research was done to collect information on the market, peer market, and parent market. The next step was to validate these findings, assumptions, and sizing with industry experts across the value chain using primary research. Both top-down and bottom-up approaches were employed to estimate the total market size. After that, the market breakdown and data triangulation procedures were used to estimate the market size of the segments and sub segments of the market.
Secondary Research
The market size of the companies offering accounts receivable automation solutions and services was arrived at based on the secondary data. Various secondary sources were used to identify and collect the information required for the study. These include corporate filings, such as annual reports, investor presentations, and financial statements; trade data; press releases; white papers; journals; certified publications; articles by recognized authors; websites; directories; and databases. This secondary data was collected to arrive at the overall market size and was further validated by primary research.
Primary Research
In the primary research process, various primary sources from both supply and demand sides were interviewed to obtain qualitative and quantitative information on the market. The primary sources from the supply side included various industry experts, such as Chief Experience Officers (CXOs), Vice Presidents (VPs), directors from business development, marketing, and product development/innovation teams, and related key executives from accounts receivable automation vendors, managed accounts receivable automation providers, industry associations, independent consultants, and key opinion leaders.
Primary interviews have been conducted to gather insights, such as market statistics, latest trends disrupting the market, new use cases implemented, data of revenue collected from the products and services, market breakups, market size estimations, market forecasting, and data triangulation. Primary research also helped understand various trends related to the technology, application, deployment model, and region. Stakeholders from the demand side, such as Chief Information Officers (CIOs), Chief Technology Officers (CTOs), and Chief Security Officers (CSOs), and installation teams of governments/end users who use accounts receivable automation solutions were interviewed. This was done to understand the buyer’s perspective on the suppliers, products, service providers, and their current use of solutions, which would affect the overall accounts receivable automation market.
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Market Size Estimation<
Top-down and bottom-up approaches were used to estimate and validate the size of the accounts receivable automation market and various other dependent subsegments. The research methodology used to estimate the market size included the following details: the key players in the market were identified through secondary research, and their revenue contributions in the respective countries were determined through primary and secondary research. This entire procedure included the study of the annual and financial reports of top market players and extensive interviews for key insights from industry leaders, such as Chief Executive Officers (CEOs), VPs, directors, and marketing executives. All percentage splits and breakups were determined using secondary sources and verified through primary sources.
In the top-down approach, an exhaustive list of all vendors offering solutions and services in the accounts receivable automation market was prepared. The revenue contribution of all vendors in the market was estimated through annual reports, press releases, funding, investor presentations, paid databases, and primary interviews. Both types of vendors that offer accounts receivable automations as a standalone solution, as well as an integrated solution in accounts receivable automation offerings, were considered for the evaluation of the market size. Each vendor was evaluated based on its product/solution offerings, services, functions, deployment modes, organization sizes, and verticals. The aggregate of all companies’ revenue was extrapolated to reach the overall market size. Each subsegment was studied and analyzed for its market size and regional penetration. The markets were triangulated through both primary and secondary research. The primary procedure included extensive interviews for key insights from industry leaders, such as CEOs, VPs, directors, and marketing executives. These market numbers were further triangulated with the existing MarketsandMarkets repository for validation.
In the bottom-up approach, the adoption trend of accounts receivable automation solutions and services among different verticals in key countries with respect to the regions that contribute to most of the market share was identified. For cross-validation, the adoption trend of solutions, along with different use cases, with respect to their business segments, has been identified and extrapolated. Weightage has been given to use cases identified in the different application areas for the calculation.
Data Triangulation
After arriving at the overall market size using the market size estimation processes as explained above, the market was split into several segments and subsegments. The data triangulation and market breakup procedures were employed, wherever applicable, to complete the overall market engineering process and arrive at the exact statistics of each market segment and subsegment. The data was triangulated by studying various factors and trends from both the demand and supply sides.
Report Objectives
- To define, describe, segment, and forecast the size of the accounts receivable automation market by component (solutions and services), deployment mode, organization size, vertical, and region in terms of value
- To forecast the market size for various segments with respect to five main regions: North America, Europe, Asia Pacific, the Middle East & Africa, and Latin America, in terms of value
- To provide detailed information regarding the drivers, restraints, opportunities, and challenges influencing the growth of the accounts receivable automation market
- To study the complete value chain and related industry segments and perform a value chain analysis of the market landscape
- To strategically analyze macro and micromarkets1 with respect to growth trends, prospects, and their contributions to the overall market
- To analyze industry trends, patents & innovations, and pricing data related to the market
- To analyze opportunities for stakeholders and provide a detailed competitive landscape of the market
- To profile key players in the market and comprehensively analyze their market share/ranking and core competencies2
- To analyze competitive developments, such as product launches/developments, partnerships, collaborations, and acquisitions, carried out by players in the accounts receivable automation market
1. Micromarkets are defined as the further segments and subsegments of the accounts receivable automation market included in the report.
2. Core competencies of the companies are captured in terms of their key developments and key strategies adopted by them to sustain their position in the market.
Available Customizations
Along with the market data, MarketsandMarkets offers customizations as per the company’s specific needs. The following customization options are available for the report:
Geographic Analysis
- Further breakup of the Asia Pacific market into countries contributing 75% to the regional market size
- Further breakup of the North American market into countries contributing 75% to the regional market size
- Further breakup of the Latin American market into countries contributing 75% to the regional market size
- Further breakup of the Middle Eastern & African market into countries contributing 75% to the regional market size
- Further breakup of the European market into countries contributing 75% to the regional market size
Company Information
- Detailed analysis and profiling of additional market players (up to 5)
Generating Response ...
Growth opportunities and latent adjacency in Accounts Receivable Automation Market