Global Accounts Payable Automation Market size is projected to grow from US$ XX billion in 2019 to US$ 3.2 billion by 2026, at a CAGR of XX%, during the forecast period.
The report includes the analysis of impact of COVID-19 lock-down on the revenue of market leaders, followers, and disrupters. Since lock down was implemented differently in different regions and countries, impact of same is also different by regions and segments. The report has covered the current short term and long term impact on the market, same will help decision makers to prepare the outline for short term and long term strategies for companies by region.
The Global Accounts Payable Automation Market report evaluates the growth rate and the market value based on market dynamics, growth inducing factors. Complete information is based on the latest industry news, opportunities, and trends. The accounts payable automation (AP Automation) refers to technology that is used to streamline and automate accounts payable processes, removing manual tasks and providing better visibility and control over important financial data.
This report focuses on the global Accounts Payable Automation status, future forecast, growth opportunity, key market and key players during the forecast period.
The Banking, Financial Services, and Insurance (BFSI) sector are becoming more strategically focused and technologically advanced for responding to consumer expectations while trying to defend the market share against an increasing array of competitors. AP automation in the BFSI vertical focuses on the increasing efficiency of documents by replacing paper invoices with digital invoices
The On-premises deployment segment accounts for the largest market share of XX% in 2018. The on-premises AP automation solution enables enterprises to automate payable workflow and define rules for the automated approvals of invoices. The percentage share of on-premises AP automation solution is decreasing, as these applications demand high-initial investments and long-term developer commitment.
Region-wise, the Asia Pacific is emerging as the fastest-growing market for AP automation solution. Organizations in the APAC region are trying to automate the business processes to reduce the rate of errors owing to manual work. Various organizations prefer automated payable processes to improve visibility and control, eliminating paper processes, reducing cost, and protecting organizations from payment frauds. Several AP automation solution vendors are expanding their reach and exploring opportunities in APAC by offering business-specific automated payable solutions.
The objective of the report is to present a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, industry-validated market data and projections with a suitable set of assumptions and methodology. The report also helps in understanding Global Account Payable Automation Market dynamics, structure by identifying and analyzing the market segments and project the global market size. Further, the report also focuses on the competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence. The report also provides PEST analysis, PORTER’s analysis, and SWOT analysis to address the question of shareholders to prioritizing the efforts and investment in the near future to the emerging segment in Global Account Payable Automation Market.
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Scope of the Global Accounts Payable Automation Market
Global Accounts Payable Automation Market, By Industry
• Consumer Goods and Retail
• Banking, Financial Services, and Insurance (BFSI)
• Information Technology (IT) and Telecom
• Energy and Utilities
Global Accounts Payable Automation Market, By Deployment Type
Global Accounts Payable Automation Market, By Organization Type
• Large Enterprises
• Small and Medium-sized Enterprises (SMEs)
Global Accounts Payable Automation Market, By Component
• Professional Services
o Implementation and Integration
o Support and Maintenance
• Managed Services
Global Accounts Payable Automation Market, By Region
• North America
• Latin America
Key players operating in the Global Accounts Payable Automation Market
• Acclivity Group
• KashFlow Software
• Norming Software
• Yat Software
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