Accounts Receivable Automation Market Rising Demand, Business Growth Factors and Revenue Strategies From 2022-2032

The market for accounts receivable automation is anticipated to grow at a rapid CAGR of 10.7% to reach US$ 6.6 billion by 2032, up from US$ 2.4 billion in 2022. According to this analysis, important reasons include rising financial transaction volumes have made effective cash management systems necessary, which in turn has fueled industry expansion.

The major factors that are expected to accelerate the growth of the Accounts Receivable Automation Market during the forecast period include improving cash position, increase control over cash and working, increased account receivable management efficiency, and improved customer communication, with rise in customer service and satisfaction with reduced administrative cost in minimizing credit risk.

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Moreover, the rising workflow automation practices across different industry sectors have led to automation in account receivable processes. These solutions help in improving the cash flow as well as reduce the accounting cycle time. All these factors are aiding the growth of the accounts receivable automation market.

In addition, due to the continuously changing environment every business is focusing on enhancing their business efficiency, which can be achieved with the help of better managing of account receivables such as digital invoice and payments which is another factor that is expected to accelerate the growth of the Accounts Receivable Automation market during the forecast period.

Key Takeaways from the Market Study

Global Accounts Receivable Automation Market was valued at US$ 2.4 Bn by 2022-end
The US to account for the highest value share of US$ 2.4 Bn of global market demand for Accounts Receivable Automation Market in 2032
From 2015 to 2021, Accounts Receivable Automation demand expanded at a CAGR of 12.2%
By Component, the Solution constitutes the bulk of Accounts Receivable Automation Market with a CAGR of 10.2%.
Competitive Landscape

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Players in the global Accounts Receivable Automation Market focus on expanding their global reach through various strategies, such as; partnerships, collaborations, and partnerships. The players are also making a significant investment in R&D to add innovations to their products which would help them in strengthening their position in the global market. Some of the recent developments among the key players are:

In May 2021, Esker announced a strategic partnership with KPMG France to guide businesses in their transition to e-invoicing. The alliance will combine their respective expertise to accompany administrative and financial departments in their digital transformation.

In May 2021, Quadient announced that its software-as-a-service (SaaS) accounts receivable (AR) automation solution Yay-Pay by Quadient shall be available to small and medium-sized businesses through the web-based Marketplace of Sage which is a provider of cloud business management solutions.

Partnering with Sage shall enable the company to build a fast-growing AR automation SaaS solution in the market.
In March 2021, HighRadius and Sage Intacct Inc. collaborated on Artificial intelligence (AI)-based autonomous systems for automating treasury and accounts receivables processes.
In January 2021, SAP SE had received a seed investment for its new venture Paid Pronto. The application helps in automating accounts receivable processes.

Know More About What the Accounts Receivable Automation Market Repost Covers

Future Market Insights offers an unbiased analysis of the global Accounts Receivable Automation Market, providing historical data for 2015-2021?and forecast statistics from 2022-2032. To understand opportunities in the Accounts Receivable Automation Market, the market is segmented on the basis of component, deployment mode, organization size, vertical across five major regions.

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Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years