About Accounts Receivable Software
Accounts receivable software is usually used to accomplish accounting and financial functions. The solutions are available in simple single-entry apps for check writing and bookkeeping and also in advanced double-entry systems that include a general ledger. Sophisticated platforms offer extra features such as inventory, fixed assets, invoicing, and more. Accounts receivable software provides plenty of benefits as it can use to automate the routine tasks, eliminate manual errors, keep the books accurate, and get timely notifications to avoid penalties and more.
Attributes | Details |
---|
Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
CAGR | 13.75% |
Accounts Receivable Software market companies operating in these industries are focusing more on efficient growth, improvement of operational efficiency and productivity, achieving high safety standards, and focusing on maintaining sustainable development. The market is highly competitive with a few players occupying the major share. The key players are highly focused on developing and innovating new strategies to maintain their market position and customer base. The companies are coming up with partnerships or agreements along with planning strategic activities such as partnerships, product launches, mergers, and acquisitions which will help them to sustain in the market and maintain their competitive edge. Analyst at AMA Research estimates that Global Players will contribute the maximum growth to Global Accounts Receivable Software market throughout the forecasted period. Established and emerging Players should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Armatic (United States), Acumatica, Inc. (United States), Open Systems Inc. (United States), HighRadius (United States), Numberz (India), ezyCollect (Australia), Araize Inc. (United States), Funding Gates (United States) and Anytime Collect (United States) are some of the key players that are part of study coverage.
Segmentation Overview
AMA Research has segmented the market of Global Accounts Receivable Software market by Type (On-Premise, Software-as-a-service and Cloud-Based), Application (Billing & Invoice, Budgeting, Accounting and Others) and Region.
On the basis of geography, the market of Accounts Receivable Software has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by End-User, the sub-segment i.e. Personal will boost the Accounts Receivable Software market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
The development of small businesses and rising investment in the cloud by the companies and SaaS market are likely to boost the growth of the market. Accounts receivable management software make easier to communicate with customers.
Market Growth Drivers:
Increasing Spending Capacity of Companies and Growing Penetration of Business Accounting Mobile Applications
Challenges:
Risk Of Human Errors.
Restraints:
High Cost for Implementing the Account Receivable Software
Opportunities:
Increasing Adoption of Modern Technologies
Market Leaders and their expansionary development strategies
In October 2023, Maast, an Atlanta-based embedded finance provider, and Fintainium, a Jacksonville, Florida-based payments automation leader, announced a new strategic partnership. Their collaboration expands the range of embedded finance solutions for enterprise resource planning (ERP) providers to include accounts receivable (AR) and accounts payable (AP), allowing ERP providers to focus on the purpose-built aspects of their software.
In January 2023, Chaser, the leading global accounts receivables software provider, launched an open API; Chaser API. This gives businesses worldwide access to connect any system with Chaser to automate their invoice reminders and get paid faster.
Key Target Audience
Software Providers of Accounts Receivable Software, Solution Providers of Accounts Receivable Software, Financial Institutions, Network Providers and Governmental Bodies
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.