According to Publisher, the Global Accounts Payable Automation Market is accounted for $1.9 billion in 2018 and is expected to reach $5.08 billion by 2027 growing at a CAGR of 13.1% from 2018 to 2027. Growing demand to reduce the delayed payments and improve the compliance rate and increasing demand to diminish fraudulent transactions are boosting the market growth. However, lacking insufficient data encryption and security are inhibiting the market growth.
Accounts payable automation is the process of replacing paper invoices and checks with electronic methods of tracking and paying the money your company owes other companies. Accounts payable automation can provide a significant cost savings for a company beyond the expected savings from eliminating manual tasks. Companies can optimize their vendor portfolio, avoid duplicate or erroneous payments, and take advantage of early payment discounts.
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Key players profiled in the report include Zoho Corporation Pvt. Ltd., Yat Software, Xero Tipalti, SAP Ariba, Sage Software, PaySimple, Norming Software, MineralTree, Micronetics, KashFlow Software, Intuit, Freshbooks, FinancialForce, Coupa Software, Comarch, Brightpearl, Bottomline Technologies, Araize and Acclivity Group
On the end user, Banking, Financial Services, and Insurance segment has growing prominence due to maximize staff productivity and save the time of personnel. Accounts payable is a simple but monotonous process in the banking system. It requires extracting vendor information, validating it and then processing the payment. By geography, Asia Pacific is likely to have a huge demand due to increase in automation of business process to reduce errors and several vendors expanding their business in this region.
What our report offers:
– Market share assessments for the regional and country level segments
– Strategic recommendations for the new entrants
– Market forecasts for a minimum of 9 years of all the mentioned segments, sub segments and the regional markets
– Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
– Strategic analysis: Drivers and Constraints, Product/Technology Analysis, Porter’s five forces analysis, SWOT analysis etc.
– Strategic recommendations in key business segments based on the market estimations
– Competitive landscaping mapping the key common trends
– Company profiling with detailed strategies, financials, and recent developments
– Supply chain trends mapping the latest technological advancements
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Table of Content
1 Executive Summary
2 Preface
3 Market Trend Analysis
4 Porters Five Force Analysis
5 Global Accounts Payable Automation Market, By Component
6 Global Accounts Payable Automation Market, By Deployment type
7 Global Accounts Payable Automation Market, By Organization type
8 Global Accounts Payable Automation Market, By End User
9 Global Accounts Payable Automation Market, By Geography
10 Key Developments
11 Company Profiling
11.1 Zoho Corporation Pvt. Ltd.
11.2 Yat Software
11.3 Xero
11.4 Tipalti
11.5 SAP Ariba
11.6 Sage Software
11.7 PaySimple
11.8 Norming Software
11.9 MineralTree
11.10 Micronetics
11.11 KashFlow Software
11.12 Intuit
11.13 Freshbooks
11.14 FinancialForce
11.15 Coupa Software
11.16 Comarch
11.17 Brightpearl
11.18 Bottomline Technologies
11.19 Araize
11.20 Acclivity Group
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This post was originally published on Space Market Research
