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Accounts Receivable Automation Market Size to Reach USD 8.19 Billion in 2030 | Emergen Research

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Emergen Research

01 Feb, 2023, 17:06 GMT

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VANCOUVER, BC, Feb. 1, 2023 /PRNewswire/ -- The accounts receivable automation market size reached USD 2.64 Billion in 2021 and is expected to register a CAGR of 13.3% during the forecast period, according to latest analysis by Emergen Research. Requirement for prompt invoicing to reduce payment delays is the key factor expected to drive revenue growth in the market.

Automation of the invoicing process allows businesses to quickly and efficiently send invoices to customers, which can help to reduce payment delays and improve cash flow. Additionally, automation can also help to improve accuracy and efficiency of the invoicing process, which can further reduce the likelihood of errors and disputes and improve overall customer satisfaction.

Request Free Sample Copy (To Understand the Complete Structure of this Report [Summary + TOC]) @ https://www.emergenresearch.com/request-sample/1530

Drivers:

The growing demand for digital platforms for tracking daily accounting activities is also driving the growth of the accounts receivable automation market. With increasing popularity of cloud-based solutions and mobile apps, businesses are looking for digital platforms that allow them to easily track and manage their accounts receivable activities from anywhere. These platforms provide real-time visibility into accounts receivable data, which can help businesses quickly identify and address any issues that may arise. Additionally, these platforms can also automate tasks such as invoice generation and payment reminders, which can help to improve efficiency and reduce the risk of errors.

Restraints:

Lack of technical staff can be a restraint on the growth of the accounts receivable automation market. Implementing and maintaining automated accounts receivable systems requires a certain level of technical expertise, and many businesses may not have the in-house staff to effectively manage these systems. This can lead to delays in implementation and difficulties in troubleshooting and resolving issues that may arise. Additionally, businesses may also have to invest in training their staff to use the new system effectively. This can be a significant cost and can make it difficult for small and medium-sized businesses to afford to implement automated accounts receivable systems.

Emergen Research is Offering Limited Time Discount (Grab a Copy at Discounted Price Now) @ https://www.emergenresearch.com/request-discount/1530

Growth Projections:

The accounts receivable automation market is expected to register a CAGR of 13.3% over the forecast period and revenue is projected to increase from USD 2.64 Billion in 2021 to USD 8.19 Billion in 2030.

Current Trends and Innovations:

Currently, the accounts receivable automation market is registering a number of innovations, including use of artificial intelligence (AI) and machine learning (ML) technology to improve accuracy and efficiency of the invoicing process. Some solutions are using Natural Language Processing (NLP) to automatically extract invoice data and match it to purchase orders and contracts, reducing manual data entry and errors.

Another innovation is the integration of blockchain technology, which is allowing for secure, real-time tracking of invoices and payments and increases transparency in the accounts receivable process. Also, some solutions have integrated with electronic payment systems and digital wallets, which allow customers to pay invoices instantly through the system, improving the speed and efficiency of the payment process. Additionally, some solutions are utilizing data analytics to provide businesses with real-time insight into their accounts receivable data, which can help them to identify patterns and trends and make more informed decisions.

Strategic Initiatives:

Major companies included in the market report are Oracle Corporation, Kofax Inc., Quadient, SK Global Software, Sage Group plc, BlackLine Inc., Bottomline Technologies, Inc., Microsoft Corporation, Kofax Inc., and MHC Automation.

  • On 2 February 2022, Oracle NetSuite introduced Cash 360 as a component of their NetSuite ERP solution. NetSuite Cash 360 simplifies a complex process by providing customers with everything they need to effectively manage cash flow, ensuring they have enough cash reserves to maintain day-to-day operations, pay employees and suppliers, fund sales and marketing efforts, service debt, acquire capital equipment, and make other long-term investments.

Browse Full Report Description + Research Methodology + Table of Content + Infographics@ https://www.emergenresearch.com/industry-report/accounts-receivable-automation-market

Scope of Research

Report Details

Outcome

Market size in 2021

USD 2.64 Billion

CAGR (2022–2030)

13.3 %

Revenue forecast to 2030

USD 8.19 Billion

Base year for estimation

2021

Historical data

2019–2020

Forecast period

2022–2030

Quantitative units

Revenue in USD Billion and CAGR in % from 2022 to 2030

Report coverage

Revenue forecast, company ranking, competitive landscape, growth factors, and trends

Segments covered

Component, deployment type, organization size, end-use, and region

Regional scope

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

Country scope

U.S., Canada, Mexico, Germany, France, U.K., Italy, Spain, Benelux, Rest of Europe, China, India, Japan, South Korea, Rest of APAC, Brazil, Rest of LATAM, Saudi Arabia, U.A.E., South Africa, Turkey, and Rest of MEA

Key companies profiled

Oracle Corporation, Kofax Inc., Quadient, SK Global Software,

Sage Group plc, BlackLine Inc., Bottomline Technologies, Inc., Microsoft Corporation, and MHC Automation

Customization scope

10 hours of free customization and expert consultation


Custom Requirements can be requested for this Report [Customization Available] @
https://www.emergenresearch.com/request-for-customization/1530

Emergen Research has segmented the global accounts receivable automation market on the basis of component, deployment type, organization size, end-use, and region:

  • Component Outlook (Revenue, USD Billion; 2019-2030)
    • Solutions 
         a. Dispute Management
         b. Deductions Management
         c. Credit Evaluation & Management
         d. Collections Management
         e. Bill Presentment & Payment   
         f. Cash Application Automation
         g. Receivables Analytics
    • Services
         a. Managed Services
         b. Professional Services
      •  
        • Implementation & Integration
        • Consulting
        • Support & Maintenance
  • Deployment Type Outlook (Revenue, USD Billion; 2019-2030)
    • On-Premises
    • Cloud
  • Organization Size Outlook (Revenue, USD Billion; 2019-2030)
    • Small and Medium-Sized Enterprises
    • Large Enterprises
  • End-Use Outlook (Revenue, USD Billion; 2019-2030)
    • BFSI
    • Energy & Utilities
    • Healthcare
    • IT and Telecom
    • Manufacturing
    • Transportation and Logistics
    • Others
  • Regional Outlook (Revenue, USD Billion; 2019–2030)
    • North America
         a.  U.S.
         b.  Canada
         c.  Mexico
    • Europe
         a.  Germany
         b.  France
         c.  U.K.
         d.  Italy
         e.  Spain
         f.  Benelux
         g.  Rest of Europe
    • Asia Pacific
         a.  China
         b.  India
         c.  Japan
         d.  South Korea
         e.  Rest of APAC
    • Latin America
         a.  Brazil
         b.  Rest of LATAM
    • Middle East & Africa
         a.  Saudi Arabia
         b.  UAE
         c.  South Africa
         d.  Turkey
         e.  Rest of MEA

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About Emergen Research 

Emergen Research is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target, and analyze consumer behavior shifts across demographics, across industries, and help clients make smarter business decisions. We offer market intelligence studies ensuring relevant and fact-based research across multiple industries, including Healthcare, Touch Points, Chemicals, Types, and Energy. We consistently update our research offerings to ensure our clients are aware of the latest trend's existent in the market. Emergen Research has a strong base of experienced analysts from varied areas of expertise. Our industry experience and ability to develop a concrete solution to any research problems provides our clients with the ability to secure an edge over their respective competitors.

Contact Us:

Eric Lee 
Corporate Sales Specialist
Emergen Research | Web: www.emergenresearch.com
Direct Line: +1 (604) 757-9756
E-mail: sales@emergenresearch.com  
Emergen Research Media Citations: https://www.emergenresearch.com/media-citations  
Visit for More Insights: https://www.emergenresearch.com/insights  
Explore Our Custom Intelligence services | Growth Consulting Services  
Read our Press Release @ https://www.emergenresearch.com/press-release/global-accounts-receivable-automation-market  
Trending Titles LiDAR Market | Metaverse Market

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