Accounts Receivable Automation Market Size & Growth | 2030

Accounts Receivable Automation Market Size & Growth | 2030

Segments - Accounts Receivable Automation Market by Deployment (On-premise and Cloud), Organization Size (Small & Medium Enterprises and Large Enterprise), Verticals (Energy & Utilities, Manufacturing, IT & Telecom, Healthcare, Retail & Consumer Goods, BFSI, and Others), and Regions (Asia Pacific, North America, Latin America, Europe, and Middle East & Africa) - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast 2022 – 2030

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Author : Swarup Sahu
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Fact-checked by : V. Chandola
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Editor : Ranjit Pankhade

Upcoming | Report ID :BFSI-4425 | 4.9 Rating | 63 Reviews | 178 Pages | Format : PDF Excel PPT

Report Description


The accounts receivable automation market size was valued at USD 3.2 Bn in 2021 and is projected to reach USD 6.5 Bn by 2030, expanding at a CAGR of around 10% during the forecast period, 2022 – 2030. The growth of the market is attributed to the growing focus on improving cash flow and reducing day sales.

Accounts receivable automation is tool that simplifies the trade receivables operations. Accounts receivable are the company's current assets that generate revenue once the credit cycle has completed its competition. Traditionally, accounts receivable was managed manually; however, with the use of accounting software by businesses, the necessity for accounts receivable automation has grown.

Accounts Receivable Automation Market Outlook

After receiving the receivables statement from the ERP/core account application, accounts receivable automation begins to work. Some of the key functions include e-mail invoices, monitoring, communication, and reporting. Accounts receivable automation improves the total customer relationship by increasing cash flow, lowering average day sales outstanding (DSO), lowering personnel costs, and streamlining the invoice administration system.

COVID-19 has affected the operation of various industries, including technology, robotics, and finance. Foreign and domestic small & medium businesses (SMEs) and multinational corporations (MNCs) are suffering as a result of the impact, with some even closing down operations. The COVID-19 is projected to have two primary effects on revenue and cash flow receipts: new sales is estimated to become difficult to come by, and existing customers are projected to pay invoices at a slow rate, which is anticipated to hinder the market growth.

  • Businesses are increasingly turning to cloud-based solutions, which is aided by the digitalization worldwide.
  • Account receivable operations have been automated as a result of expanding workflow automation strategies across several industry sectors, which is anticipated to fuel the market.
  • Data security is the major concern in digital solutions, which is projected to hinder the market growth.
  • High cost of the system is estimated to hamper the market growth during the projected period.
  • Complexity of account receivable automation, such as complex financial systems and a lack of standardization is expected to impede the market growth.
  • Small and medium businesses are increasingly adopting cloud-based solutions due to their exceptional deployment flexibility and global availability.

Scope of Accounts Receivable Automation Market Report

The report on the global accounts receivable automation market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.

Attributes

Details

Report Title

Accounts Receivable Automation Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast

Base Year

2021

Historic Data

2019–2020

Forecast Period

2022 – 2030

Segmentation

Deployments (On-premise and Cloud), Organization Size (Small & Medium Enterprises and Large Enterprise), Verticals (Energy & Utilities, Manufacturing, IT & Telecom, Healthcare, Retail & Consumer Goods, BFSI, and Others)

Regional Scope

Asia Pacific, North America, Latin America, Europe, and Middle East & Africa

Report Coverage

Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast

Key Players Covered in the Report

HighRadius; BlackLine; Zoho; Esker; Comarch; Bottomline Technologies; Workday; Oracle; SAP; Sage; Microsoft Corp; IBM Corporation; Kofax corp.; Yapay Inc.; Emagia corp.; and Vanguard systems

Accounts Receivable Automation Market Segment Insights

Based on deployments, the market is bifurcated into on-premise and cloud. The on-premise segment is projected to hold a major market share during the forecast period. To achieve complete control over their corporate accounts and transaction data, enterprises opt to employ on-premises accounts receivable systems. Organizations in the BFSI and healthcare verticals are projected to choose the on-premises deployment because both verticals deal with crucial and sensitive data connected to national income and healthcare.

On the basis of organization size, the market is segregated into small & medium enterprises and large enterprise. The small & medium enterprises segment is anticipated to expand at a rapid pace during the forecast period.

To increase operational efficiency, the majority of SMEs in the United States have integrated or are planning to implement their work flow with automation. As a result, accounting software such as reconciliation software and accounts receivable automation has been more widely used globally. Increasing adoption of automation by SMEs is expected to drive the market.

Accounts Receivable Automation Market Organization Size

In terms of verticals, the market is classified as energy & utilities, manufacturing, IT & telecom, healthcare, retail & consumer goods, BFSI, and others. The BFSI segment is projected to account for a major market share during the forecast period. The BFSI sector is a pioneer in adopting new technologies.

Financial firms use the accounts receivable automation system to increase cash collection from customers. The automated accounts receivable solution increases employee productivity by eliminating the time spent entering, reviewing, and confirming invoices in order to provide accurate reports.

On the basis of regions, the market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. Asia Pacific is estimated to register a high CAGR during the forecast period. As one of the fastest-growing regions, Asia Pacific is a lucrative market for accounts receivable automation. Growth of the market in the region is attributed to rapid economic advancements, globalization, digitalization, and greater internet penetration.

Government measures to enhance digital infrastructure is estimated to drive the market. Organizations can efficiently drive the transition of their accounts receivable departments by utilizing an accounts receivable automation solution to overcome the obstacles of manual and paper-based operations.

Accounts Receivable Automation Market Regions

Segments

The global accounts receivable automation market has been segmented on the basis of

Deployment

  • On-premise
  • Cloud

Organization Size

  • Small & Medium Enterprises
  • Large Enterprise

Verticals

  • Energy & Utilities
  • Manufacturing
  • IT & Telecom
  • Healthcare
  • Retail & Consumer Goods
  • BFSI
  • Others

Regions

  • Asia Pacific
  • North America
  • Latin America
  • Europe
  • Middle East & Africa

Key Players

  • HighRadius
  • BlackLine
  • Esker
  • Zoho
  • Comarch
  • Bottomline Technologies
  • Workday
  • Oracle
  • SAP
  • Sage
  • Microsoft Corp
  • IBM Corporation
  • Kofax corp.
  • Yapay Inc.
  • Emagia corp.
  • Vanguard systems

Competitive Landscape

Key players competing in the accounts receivable automation market include HighRadius; BlackLine; Zoho; Esker; Comarch; Bottomline Technologies; Workday; Oracle; SAP; Sage; Microsoft Corp; IBM Corporation; Kofax corp.; Yapay Inc.; Emagia corp.; and Vanguard systems. Some of these players are using several market strategies such as acquisitions, mergers, collaborations, partnerships, capacity expansion, and product launches to enhance their market shares. For instance,

  • In May 2021, Esker and KPMG France have launched a strategic cooperation to help businesses adapt to electronic invoicing.
  • In July 2019, QuickBooks Accountant Apps was introduced by Intuit. This is supposed to reduce time and assist accounting professionals perform more efficiently.
Accounts Receivable Automation Market Key Players

Frequently Asked Questions

IBM Corporation; Kofax corp.; Yapay Inc.; Emagia corp.; and Vanguard systems are some of the leading players in the accounts receivable automation market.

The accounts receivable automation market is projected to reach USD 6.5 billion by 2030.

The accounts receivable automation market size was valued at USD 3.2 billion in 2021.

The accounts receivable automation market is projected to expand at a CAGR of around 10% during the forecast period, 2022 – 2030.

Deployment, Organization Size, Verticals are the segments provided in the accounts receivable automation market report.

Table Of Content

1. Executive Summary
2. Assumptions and Acronyms Used
3. Research Methodology
4. Accounts Receivable Automation Market Overview
  4.1. Introduction
     4.1.1. Market Taxonomy
     4.1.2. Market Definition
  4.2. Macro-Economic Factors
     4.2.1. Industry Outlook
  4.3. Accounts Receivable Automation Market Dynamics
     4.3.1. Market Drivers
     4.3.2. Market Restraints
     4.3.3. Opportunity
     4.3.4. Market Trends
  4.4. Accounts Receivable Automation Market - Supply Chain
  4.5. Global Accounts Receivable Automation Market Forecast
     4.5.1. Accounts Receivable Automation Market Size (US$ Mn) and Y-o-Y Growth
     4.5.2. Accounts Receivable Automation Market Size (000’ Units) and Y-o-Y Growth
     4.5.3. Accounts Receivable Automation Market Absolute $ Opportunity
5. Global Accounts Receivable Automation Market Analysis and Forecast by Region
  5.1. Market Trends
  5.2. Introduction
     5.2.1. Basis Point Share (BPS) Analysis by Region
     5.2.2. Y-o-Y Growth Projections by Region
  5.3. Accounts Receivable Automation Market Size and Volume Forecast by Region
     5.3.1. North America
     5.3.2. Latin America
     5.3.3. Europe
     5.3.4. Asia Pacific
     5.3.5. Middle East and Africa (MEA)
  5.4. Absolute $ Opportunity Assessment by Region
  5.5. Market Attractiveness/Growth Potential Analysis by Region
  5.6. Global Accounts Receivable Automation Demand Share Forecast, 2019-2026
6. North America Accounts Receivable Automation Market Analysis and Forecast
  6.1. Introduction
     6.1.1. Basis Point Share (BPS) Analysis by Country
     6.1.2. Y-o-Y Growth Projections by Country
  6.2. North America Accounts Receivable Automation Market Size and Volume Forecast by Country
     6.2.1. U.S.
     6.2.2. Canada
  6.3. Absolute $ Opportunity Assessment by Country
  6.4. Market Attractiveness/Growth Potential Analysis
     6.4.1. By Country
     6.4.2. By Product Type
     6.4.3. By Application
  6.5. North America Accounts Receivable Automation Demand Share Forecast, 2019-2026
7. Latin America Accounts Receivable Automation Market Analysis and Forecast
  7.1. Introduction
     7.1.1. Basis Point Share (BPS) Analysis by Country
     7.1.2. Y-o-Y Growth Projections by Country
     7.1.3. Latin America Average Pricing Analysis
  7.2. Latin America Accounts Receivable Automation Market Size and Volume Forecast by Country
      7.2.1. Brazil
      7.2.2. Mexico
      7.2.3. Rest of Latin America
   7.3. Absolute $ Opportunity Assessment by Country
  7.4. Market Attractiveness/Growth Potential Analysis
     7.4.1. By Country
     7.4.2. By Product Type
     7.4.3. By Application
  7.5. Latin America Accounts Receivable Automation Demand Share Forecast, 2019-2026
8. Europe Accounts Receivable Automation Market Analysis and Forecast
  8.1. Introduction
     8.1.1. Basis Point Share (BPS) Analysis by Country
     8.1.2. Y-o-Y Growth Projections by Country
     8.1.3. Europe Average Pricing Analysis
  8.2. Europe Accounts Receivable Automation Market Size and Volume Forecast by Country
     8.2.1. Germany
     8.2.2. France
     8.2.3. Italy
     8.2.4. U.K.
     8.2.5. Spain
     8.2.6. Russia
     8.2.7. Rest of Europe
  8.3. Absolute $ Opportunity Assessment by Country
  8.4. Market Attractiveness/Growth Potential Analysis
     8.4.1. By Country
     8.4.2. By Product Type
     8.4.3. By Application
  8.5. Europe Accounts Receivable Automation Demand Share Forecast, 2019-2026
9. Asia Pacific Accounts Receivable Automation Market Analysis and Forecast
  9.1. Introduction
     9.1.1. Basis Point Share (BPS) Analysis by Country
     9.1.2. Y-o-Y Growth Projections by Country
     9.1.3. Asia Pacific Average Pricing Analysis
  9.2. Asia Pacific Accounts Receivable Automation Market Size and Volume Forecast by Country
     9.2.1. China
     9.2.2. Japan
     9.2.3. South Korea
     9.2.4. India
     9.2.5. Australia
     9.2.6. Rest of Asia Pacific (APAC)
  9.3. Absolute $ Opportunity Assessment by Country
  9.4. Market Attractiveness/Growth Potential Analysis
     9.4.1. By Country
     9.4.2. By Product Type
     9.4.3. By Application
  9.5. Asia Pacific Accounts Receivable Automation Demand Share Forecast, 2019-2026
10. Middle East & Africa Accounts Receivable Automation Market Analysis and Forecast
  10.1. Introduction
     10.1.1. Basis Point Share (BPS) Analysis by Country
     10.1.2. Y-o-Y Growth Projections by Country
     10.1.3. Middle East & Africa Average Pricing Analysis
  10.2. Middle East & Africa Accounts Receivable Automation Market Size and Volume Forecast by Country
     10.2.1. Saudi Arabia
     10.2.2. South Africa
     10.2.3. UAE
     10.2.4. Rest of Middle East & Africa (MEA)
  10.3. Absolute $ Opportunity Assessment by Country
  10.4. Market Attractiveness/Growth Potential Analysis
     10.4.1. By Country
     10.4.2. By Product Type
     10.4.3. By Application
  10.5. Middle East & Africa Accounts Receivable Automation Demand Share Forecast, 2019-2026
11. Competition Landscape
  11.1. Global Accounts Receivable Automation Market: Market Share Analysis
  11.2. Accounts Receivable Automation Distributors and Customers
  11.3. Accounts Receivable Automation Market: Competitive Dashboard
  11.4. Company Profiles (Details: Overview, Financials, Developments, Strategy)
     11.4.1. HighRadius
     11.4.2. BlackLine
     11.4.3. Zoho
     11.4.4. Esker
     11.4.5. Comarch
     11.4.6. Bottomline Technologies
     11.4.7. Workday
     11.4.8. Oracle

Methodology

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