The Global Accounts Payable Automation Market size is expected to grow from US$ 1.9 Billion in 2019 to US$ 3.1 Billion by 2024, at a Compound Annual Growth Rate (CAGR) of 11.0% during the forecast period. This report spread across 121 pages, profiling 15 companies and supported with 63 tables and 31 figures are now available in this research. This report also provides market landscape and market share information in the Accounts Payable Automation Market.
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Top Companies profiled in the Accounts Payable Automation Market:
- SAP Ariba (US)
- Sage Software(UK)
- Tipalti (US)
- FreshBooks (Canada)
- Zycus (US)
- FIS (US)
- Bottomline Technologies (US)
- Coupa Software (US)
- Comarch (Poland)
- FinancialForce (US)
- AvidXchange (US)
- Vanguard Systems (US)
- Bill.Com (US)
- Procurify (Canada)
- Nvoicepay (US)
Manual procedures for AP processes are expensive, error-prone, and highly inefficient. The AP solution automates payment processes and enables enterprises to maintain a vendor-supplier relationship.
The AP automation solution offers a visibility of the entire AP processes from invoicing to receipt generation, ensuring proper approval, correct allocation, and timely payment and spend management. Moreover, it can be easily integrated with Enterprise Resource Planning (ERP), thereby providing an enhanced ability to adopt changes and increase the efficiency of payment processes.
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Several vendors in the market are providing payment solutions through the public and private cloud. Cloud-based solutions are available in various subscriptions and pay-per-use models.
Organizations are looking forward to having their solutions deployed on the cloud, as it offers various advantages, such as scalability, flexibility in capacity, enhanced collaboration, and cost-efficiency. The implementation of the cloud-based AP automation solutions facilitates enterprises to focus on their core competencies, rather than Information Technology (IT)processes.
The Study Objectives of this report are:
- To analyze opportunities in the market for stakeholders, by identifying the high-growth segments of the market
- To forecast the market size of 5 main regions, namely, North America, Europe, Asia Pacific (APAC), Middle East and Africa (MEA), and Latin America
- To define, describe, and forecast the Accounts Payable Automation Market by component (solution and services), deployment type, organization size, industry, and region
- To provide detailed information about the major factors (drivers, restraints, opportunities, and industry-specific challenges) influencing the growth of the market
- To analyze the market with respect to individual growth trends, prospects, and contributions to the market
- To profile the key players in the market and comprehensively analyze their core competencies in each subsegments
- To analyze the competitive developments, such as product/service launches and product enhancements, partnerships, collaborations, agreements, and mergers and acquisitions, and, in the market
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Competitive Landscape of Accounts Payable Automation Market:
1 Introduction
2 Competitive Leadership Mapping
2.1 Visionary Leaders
2.2 Innovators
2.3 Dynamic Differentiators
2.4 Emerging Companies
3 Competitive Scenario
3.1 Product/Solution Launches and Enhancements
3.2 Business Expansions
3.3 Partnerships, Agreements, and Collaborations
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