Market Overview:
Accounts Receivable Automation helps to manage various accounts receivable processes, including procurement, invoice processing and approval, payments, reporting and analysis, and vendor management. Accounts receivable automation allows organizations to go paperless and reduce collection costs and bad debts. Furthermore, accounts receivable automation solution vendors are offering solutions empowered with the capability of integrating with leading Enterprise Resource Planning (ERP) systems, credit bureaus, leading banks, and payment gateways.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Forecast Period | 2024-2030 |
Historical Period | 2018-2023 |
Unit | Value (USD Million) |
Key Companies Profiled | Sage (United Kingdom), Oracle (United States), SAP (Germany), Workday (United States), Bottomline Technologies (United States), Comarch (Poland), Bottomline Technologies, Inc. (United States), Comarch (Poland), Esker (United States), Kofax Inc. (United States), Zoho Corporation Pvt. Ltd. (India), HighRadius Corporation (United States) and FinancialForce (United States) |
Customization Scope | Avail customization with purchase of this report. Add or modify country, region or narrow down segments in the final scope subject to feasibility |
AMA Research follows a focused and realistic research framework that provides the ability to study the crucial market dynamics of major and emerging geographies across the world. Moreover, an in-depth assessment is mostly conducted by our analysts on geographical regions to provide clients and businesses the opportunity to dominate in niche markets and expand in emerging markets across the globe. This market research study also showcases the spontaneously changing Players landscape impacting the growth of the market. Furthermore, our market researchers extensively analyze the products and services offered by multiple players competing to increase their market share and presence.
Key Players of Accounts Receivable Automation Market Study:
Sage (United Kingdom), Oracle (United States), SAP (Germany), Workday (United States), Bottomline Technologies (United States), Comarch (Poland), Bottomline Technologies, Inc. (United States), Comarch (Poland), Esker (United States), Kofax Inc. (United States), Zoho Corporation Pvt. Ltd. (India), HighRadius Corporation (United States) and FinancialForce (United States)
Accounts Receivable Automation Market Segment Analysis
Scope | Sub-Segments |
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End User Industry | BFSI,Manufacturing,Consumer goods and Retail,IT and Telecom,Healthcare,Energy and Utilities,Others (Transportation and Logistics, and Education) |
Organization Size | Large enterprises,Small and Medium-sized Enterprises (SMEs) |
Component | Solution,Services |
Influencing Trend:
Advancement in Accounts Receivable Automation Solutions Powered with Artificial Intelligence
Market Growth Drivers:
Rising Demand for Technology to Improve Business Efficiency by Improving Cash Flow and Reduce Costs and Accounting Cycle Time
Challenges:
Encryption and Security Concerns and Complex Invoicing and Payment Management Processes
Restraints:
Hesitation of Enterprises Toward Automating Their Accounts Receivable Processes
Opportunities:
Technology Development in Accounts Receivable Automation and Growing Traction for Saas Solutions
Some of the other players that are also part of study are Emagia (United States), VersaPay Corporation (Canada), Rimilia (United Kindom) and Yaypay (United States). The Global Accounts Receivable Automation market is gaining huge competition due to involvement of United States companies that constantly invest in research & development to meet market expectation with new innovation.
Latest Industry Highlights:
In May 2020, HighRadius announced the launch of RadiusOne A/R Suite for mid-sized businesses. With simpler user experience and faster time-to-value, the solution reinforces HighRadius’ investment in innovation and vision to make Accounts Receivables automation a key catalyst for business growth., and In April 2019, Oracle NetSuite announced a series of new innovations within the NetSuite solution, including new industry cloud solutions. The latest updates to NetSuite include new analytics, commerce, financial, HR, marketing, project management, and supply chain capabilities.
In February 2020, Genpact and HighRadius announced a strategic partnership that will provide improvements to enterprise accounts receivable and bring together digital automation solutions powered by advanced machine learning and artificial intelligence.
Research Methodology:
The top-down and bottom-up approaches are used to estimate and validate the size of the Global Accounts Receivable Automation market.
In order to reach an exhaustive list of functional and relevant players, various industry classification standards are closely followed such as NAICS, ICB, SIC to penetrate deep into important geographies by players, and a thorough validation test is conducted to reach the most relevant players for survey in Accounts Receivable Automation market.
Identification of total players or companies operating in the global market which is further concentrated to fewer or most impacting players which are considered under the reports scope. In order to make a priority list sorting is done based on revenue generated based on the latest reporting with the help of paid databases such as Factiva, Bloomberg, etc.
Finally the questionnaire is set and specifically designed to address all the necessities for primary data collection after getting prior appointment by targeting key target audience that includes Accounts Receivable Automation Provider, Technology Provider, End-User Industries, Government Bodies, Research Firm, Potential Investors, Technology Investors and Others.
This helps us to gather the data for the players revenue, operating cycle and expense, profit along with product or service growth, etc.
Almost 70-80% of data is collected through primary medium and further validation is done through various secondary sources that include Regulators, World Bank, Association, Company Website, SEC filings, OTC BB, Annual reports, press releases etc.