Global Accounts Receivable Automation Market Report 2022 to 2027: Rising Adoption of Ai and Ml-Based Accounts Receivable Automation Presents Opportunities

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Global Accounts Receivable Automation Market

Global Accounts Receivable Automation Market
Global Accounts Receivable Automation Market

Dublin, Nov. 30, 2022 (GLOBE NEWSWIRE) -- The "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" report has been added to ResearchAndMarkets.com's offering.

The global Accounts Receivable Automation market size is estimated to grow from USD 3.3 billion in 2022 to USD 6.5 billion by 2027, at a Compound Annual Growth Rate (CAGR) of 14.2% during the forecast period.

By Component, the services segment to grow at a higher CAGR during the forecast period

The services segment is expected to grow at a higher growth rate during the forecast period. The services segment has been broadly classified into professional and managed services. Accounts receivable automation vendors offer services to plan, design, implement, and deploy accounts receivable solutions. The increasing number of digital transactions in emerging economies is expected to fuel the demand for accounts receivable automation services.

By Professional Services, the support & maintenance subsegment to hold the largest market share


The support & maintenance subsegment is expected to hold the largest market size. Support & maintenance services include support related to implementing and using the accounts receivable automation solution. They include the support provided during, before, and after installation and other maintenance exercises. The demand for support & maintenance services is growing as they enable organizations to reap the maximum advantage from investments in the accounts receivable automation solution deployment.

By Organization size, the SMEs segment to grow at the higher CAGR during the forecast period


The small & medium sized enterprises (SMEs) segment is projected to grow at the higher CAGR during the forecast period. Organizations with an employee range between 1 and 1,000 are categorized under the SMEs segment. The accounts receivable automation solution enables SMEs to enhance their overall productivity by helping them reduce the time for processing an invoice. Hence, SMEs are increasing the adoption of the accounts receivable automation solutions to improve business outcomes.

Report Attribute

Details

No. of Pages

269

Forecast Period

2022 - 2027

Estimated Market Value (USD) in 2022

$3.3 billion

Forecasted Market Value (USD) by 2027

$6.5 billion

Compound Annual Growth Rate

14.2%

Regions Covered

Global

Key Topics Covered:

1 Introduction

2 Research Methodology

3 Executive Summary

4 Premium Insights
4.1 Overview of Accounts Receivable Automation Market
4.2 Accounts Receivable Automation Market, by Component
4.3 Accounts Receivable Automation Market, by Service
4.4 Accounts Receivable Automation Market, by Professional Service
4.5 Accounts Receivable Automation Market, by Organization Size
4.6 Accounts Receivable Automation Market, by Deployment Mode
4.7 Accounts Receivable Automation Market, by Vertical
4.8 Accounts Receivable Automation Market: Regional Scenario

5 Market Overview and Industry Trends
5.1 Introduction
5.2 Market Dynamics
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
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
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
5.8 Supply Chain Analysis
5.9 Ecosystem
5.10 Tariff and Regulatory Landscape
5.10.1 Regulatory Bodies, Government Agencies, and Other Organizations
5.11 Patent Analysis
5.12 Key Conferences & Events
5.13 Trends/Disruptions Impacting Buyers
5.14 Key Stakeholders & Buying Criteria

6 Accounts Receivable Automation Market, by Component
6.1 Introduction
6.1.1 Component: Accounts Receivable Automation Market Drivers
6.1.2 Component: COVID-19 Impact
6.2 Solutions
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
6.3.1 Professional Services
6.3.1.1 Technicalities Involved in Implementing Accounts Receivables Automation Solution to Boost Demand for Professional Services
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
6.3.3 Consulting
6.3.3.1 Demand for Consulting Services to Help Organizations Understand Competencies of These Solutions and Services
6.3.4 Support & Maintenance
6.3.4.1 Support & Maintenance Services to Help Understand Market Trends, Changing Business Conditions, and Client Insights
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

7 Accounts Receivable Automation Market, by Deployment Mode
7.1 Introduction
7.1.1 Deployment Mode: Accounts Receivable Automation Market Drivers
7.1.2 Deployment Mode: COVID-19 Impact
7.2 On-Premises
7.2.1 Large Organizations to Drive On-Premises Software Deployment Adoption to Overcome Security Concerns Over Sensitive Data
7.3 Cloud
7.3.1 Cost-Effectiveness, Easy Access, and Scalability to Boost Cloud-Based Accounts Receivable Automation Solutions' Adoption

8 Accounts Receivable Automation Market, by Organization Size
8.1 Introduction
8.1.1 Organization Size: Accounts Receivable Automation Market Drivers
8.1.2 Organization Size: COVID-19 Impact
8.2 Large Enterprises
8.2.1 Growing Need to Improve Cash Flow and Eliminate Human Errors in Accounting Processes to Drive Adoption
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

9 Accounts Receivable Automation Market, by Vertical
9.1 Introduction
9.1.1 Vertical: Accounts Receivable Automation Market Drivers
9.1.2 Vertical: COVID-19 Impact
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
9.3 It & Telecom
9.3.1 Increasing Need to Streamline Business Processes to Drive Accounts Receivable Automation Solutions' Adoption
9.4 Manufacturing
9.4.1 Need for Faster Payment Processing to Drive Adoption of Accounts Receivable Automation Solution
9.5 Consumer Goods & Retail
9.5.1 Growing Necessity to Reduce Costs, Optimize Efficiency, and Streamline Back-Office Functions to Drive Adoption
9.6 Healthcare
9.6.1 Surging Need to Maintain Accuracy in Payment Acceptance Process to Drive Adoption
9.7 Energy & Utilities
9.7.1 Growing Necessity to Control Increasing Overhead Costs and Improve Cash Flow to Drive Adoption
9.8 Other Verticals

10 Accounts Receivable Automation Market, by Region

11 Competitive Landscape
11.1 Overview
11.2 Market Evaluation Framework
11.3 Key Player Strategies/Right to Win
11.4 Revenue Analysis
11.5 Market Share Analysis
11.6 Company Evaluation Quadrant
11.6.1 Stars
11.6.2 Emerging Leaders
11.6.3 Pervasive Players
11.6.4 Participants
11.6.5 Company Product Footprint Analysis
11.7 Ranking of Key Players
11.8 Startup/Sme Evaluation Matrix
11.8.1 Progressive Companies
11.8.2 Responsive Companies
11.8.3 Dynamic Companies
11.8.4 Starting Blocks
11.8.5 Competitive Benchmarking
11.9 Key Market Developments
11.9.1 Product Launches & Enhancements
11.9.2 Deals

12 Company Profiles
12.1 Introduction
12.2 Major Players
12.2.1 Sage
12.2.2 Sap
12.2.3 Oracle
12.2.4 Workday
12.2.5 Bottomline Technologies
12.2.6 Comarch
12.2.7 Esker
12.2.8 Zoho
12.2.9 Blackline
12.2.10 HighradiUS
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

14 Appendix

For more information about this report visit https://www.researchandmarkets.com/r/d41kph

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