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Accounts Receivable Automation Market by Component and Geography - Forecast and Analysis 2022-2026

  • Published: Jun 2022
  • Pages: 118
  • SKU: IRTNTR73791
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The accounts receivable automation market share is expected to increase by USD 1.13 billion from 2021 to 2026, and the market's growth momentum will accelerate at a CAGR of 10.27%.

This accounts receivable automation market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers accounts receivable automation market segmentation by component (solution and services) and geography (North America, Europe, APAC, Middle East and Africa, and South America). The accounts receivable automation market report also offers information on several market vendors, including Ash Conversions International, BlackLine Inc., BlueSnap Inc., Bottomline Technologies Inc., Comarch SA, Corcentric Inc., Esker SA, HighRadius Corp., Kofax Inc., Mynd Integrated Solutions, Oracle Corp., PAGERO AB, Quadient Sro, Qvalia Group AB, Sage Group Plc, SAP SE, SK Global Software LLC, TechNVision Ventures Ltd., Workday Inc., and Zoho Corp. Pvt. Ltd. among others.

What will the Accounts Receivable Automation Market Size be During the Forecast Period?

Accounts Receivable Automation Market Size

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Accounts Receivable Automation Market: Key Drivers, Trends, and Challenges

The increasing demand for cloud-based AR automation solutions is notably driving the accounts receivable automation market growth, although factors such as data privacy and security concerns may impede market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the accounts receivable automation industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.

Key Accounts Receivable Automation Market Driver

One of the key factors driving the global accounts receivable automation industry growth is the increasing demand for cloud-based AR automation solutions to streamline monetary transactions between an enterprise and its consumers. End-user industries such as BFSI, and manufacturing are gradually adopting it as the demand for cloud computing increases, owing to reduced processing time and costs. Some of the benefits of cloud-based AR automation solutions are as follows:

  • Enhance cash flow, lower DSO and bad debt
  • Real-time bankruptcy alerts
  • Automated cash posting
  • Quick collections and dispute resolution
  • Scalability, adaptability, and cost-effectiveness

Cloud solutions are becoming more popular due to their unprecedented deployment flexibility benefits and worldwide availability, which will be driving the market growth during the forecast period.

Key Accounts Receivable Automation Market Trend

Emergence of ML and AI-based AR automation solutions is one of the key accounts receivable automation market trends that is expected to impact the industry positively in the forecast period. The inclusion of ML in AR automation will help in the prediction of customer creditworthiness and payment date and can estimate customers' credit limits and also detect AR fraud. ML can enable automatic reconciliation of account receivables invoices and remittance information from multiple connected sources such as ERP and accounts payable systems, which help companies reduce account reconciliation manual efforts. AI in AR automation solutions will process large volumes of invoices quickly, thereby improving the swiftness of processing. AI solutions also assist in the extraction of key data, such as historical data and external data, and provide key insights into all possible credit and AR prediction scenarios, including use-cases. This will augment the growth of the market in the coming years.

Key Accounts Receivable Automation Market Challenge

One of the key challenges to the global accounts receivable automation industry growth is data privacy and security concerns. The rise in identity fraud and cybercrime has decelerated the adoption of automated solutions. Furthermore, organizations have to manage a huge amount of data and sensitive information. As organizations need to share their sensitive and confidential data with third parties in the cloud. In addition, giving system access to third parties for upgrades and implementation increases the risks of data leaks and security breaches. Any security breach can be a significant risk in terms of financial losses and loss of customers and can negatively affect brand reputation. These potential cybersecurity risks make end-users skeptical and hesitant to deploy AR automation software, which may hamper the market growth. 

This accounts receivable automation market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.

Parent Market Analysis

Technavio categorizes the global accounts receivable (AR) automation market as a part of the global IT consulting and other services market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the accounts receivable automation market during the forecast period.

Who are the Major Accounts Receivable Automation Market Vendors?

The report analyzes the market's competitive landscape and offers information on several market vendors, including:

 

  • Ash Conversions International
  • BlackLine Inc.
  • BlueSnap Inc.
  • Bottomline Technologies Inc.
  • Comarch SA
  • Corcentric Inc.
  • Esker SA
  • HighRadius Corp.
  • Kofax Inc.
  • Mynd Integrated Solutions
  • Oracle Corp.
  • PAGERO AB
  • Quadient Sro
  • Qvalia Group AB
  • Sage Group Plc
  • SAP SE
  • SK Global Software LLC
  • TechNVision Ventures Ltd.
  • Workday Inc.
  • Zoho Corp. Pvt. Ltd.

 

This statistical study of the accounts receivable automation market encompasses successful business strategies deployed by the key vendors. The accounts receivable automation market is fragmented and the vendors are deploying growth strategies such as advancements in technology and M&A activities to compete in the market.

Product Insights and News

  • Bottomline Technologies Inc. - The company offers an account receivable automation solution namely Paymode X.
  • BlackLine Inc. - The company offers an account receivable automation solution namely SAP S 4HANA.

To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

The accounts receivable automation market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.

Accounts Receivable Automation Market Value Chain Analysis

Our report provides extensive information on the value chain analysis for the accounts receivable automation market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.

Which are the Key Regions for Accounts Receivable Automation Market?

Accounts Receivable Automation Market Market segmentation by region

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34% of the market's growth will originate from Europe during the forecast period. UK and Germany are the key markets for accounts receivable automation in Europe. Market growth in this region will be faster than the growth of the market in South America, North America, and MEA.

North America is another potential market for accounts receivable automation. The presence of strong firms working in account receivables in countries such as the US, as well as an increase in government expenditure on accounting management systems in various public and private entities, will facilitate the accounts receivable automation market growth in North America over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.

COVID Impact and Recovery Analysis

In 2020, the outbreak of COVID-19 negatively affected all segments of society, including individuals and businesses. However, due to the COVID-19 outbreak, the dependency on online business has increased significantly. With the growing popularity of e-commerce, consumers prefer to do online transactions for the ease it provides. Companies across the world have started approaching software providers for the provision of a wide range of services and solutions such as AR automation to ease their day-to-day operations, which, in turn, will propel the growth of the AR automation market in the region during the forecast period.

What are the Revenue-generating Component Segments in the Accounts Receivable Automation Market?

Accounts Receivable Automation Market Segmentation

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The accounts receivable automation market share growth by the solution segment will be significant during the forecast period. AR automation systems can easily process large amounts of customer invoices, which can significantly reduce the efforts and time spent by accountants in collecting payments from their customers. The rising need to process a large number of consumer invoices effectively and efficiently will drive the growth of the solution segment in the forecast years.

This report provides an accurate prediction of the contribution of all the segments to the growth of the accounts receivable automation market size and actionable market insights on post COVID-19 impact on each segment.

 

Accounts Receivable Automation Market Scope

Report Coverage

Details

Page number

120

Base year

2021

Forecast period

2022-2026

Growth momentum & CAGR

Accelerate at a CAGR of 10.27%

Market growth 2022-2026

$ 1.13 billion

Market structure

Fragmented

YoY growth (%)

9.45

Regional analysis

North America, Europe, APAC, Middle East and Africa, and South America

Performing market contribution

Europe at 34%

Key consumer countries

US, China, India, UK, and Germany

Competitive landscape

Leading companies, Competitive strategies, Consumer engagement scope

Key companies profiled

Ash Conversions International, BlackLine Inc., BlueSnap Inc., Bottomline Technologies Inc., Comarch SA, Corcentric Inc., Esker SA, HighRadius Corp., Kofax Inc., Mynd Integrated Solutions, Oracle Corp., PAGERO AB, Quadient Sro, Qvalia Group AB, Sage Group Plc, SAP SE, SK Global Software LLC, TechNVision Ventures Ltd., Workday Inc., and Zoho Corp. Pvt. Ltd.

Market dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period

Customization purview

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What are the Key Data Covered in this Accounts Receivable Automation Market Report?

  • CAGR of the market during the forecast period 2022-2026
  • Detailed information on factors that will drive accounts receivable automation market growth during the next five years
  • Precise estimation of the accounts receivable automation market size and its contribution to the parent market
  • Accurate predictions on upcoming trends and changes in consumer behavior
  • The growth of the accounts receivable automation industry across North America, Europe, APAC, Middle East and Africa, and South America
  • A thorough analysis of the market's competitive landscape and detailed information on vendors
  • Comprehensive details of factors that will challenge the growth of accounts receivable automation market vendors

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1 Executive Summary

  • 1.1 Market overview
    • Exhibit 01: Executive Summary – Chart on Market Overview
    • Exhibit 02: Executive Summary – Data Table on Market Overview
    • Exhibit 03: Executive Summary – Chart on Global Market Characteristics
    • Exhibit 04: Executive Summary – Chart on Market by Geography
    • Exhibit 05: Executive Summary – Chart on Market Segmentation by Component
    • Exhibit 06: Executive Summary – Chart on Incremental Growth
    • Exhibit 07: Executive Summary – Data Table on Incremental Growth
    • Exhibit 08: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

  • 2.1 Market ecosystem
    • Exhibit 09: Parent market
    • Exhibit 10: Market Characteristics

3 Market Sizing

  • 3.1 Market definition
    • Exhibit 11: Offerings of vendors included in the market definition
  • 3.2 Market segment analysis
    • Exhibit 12: Market segments
  • 3.3 Market size 2021
    • 3.4 Market outlook: Forecast for 2021-2026
      • Exhibit 13: Chart on Global - Market size and forecast 2021-2026 ($ million)
      • Exhibit 14: Data Table on Global - Market size and forecast 2021-2026 ($ million)
      • Exhibit 15: Chart on Global Market: Year-over-year growth 2021-2026 (%)
      • Exhibit 16: Data Table on Global Market: Year-over-year growth 2021-2026 (%)

    4 Five Forces Analysis

    • 4.1 Five forces summary
      • Exhibit 17: Five forces analysis - Comparison between 2021 and 2026
    • 4.2 Bargaining power of buyers
      • Exhibit 18: Chart on Bargaining power of buyers – Impact of key factors 2021 and 2026
    • 4.3 Bargaining power of suppliers
      • Exhibit 19: Bargaining power of suppliers – Impact of key factors in 2021 and 2026
    • 4.4 Threat of new entrants
      • Exhibit 20: Threat of new entrants – Impact of key factors in 2021 and 2026
    • 4.5 Threat of substitutes
      • Exhibit 21: Threat of substitutes – Impact of key factors in 2021 and 2026
    • 4.6 Threat of rivalry
      • Exhibit 22: Threat of rivalry – Impact of key factors in 2021 and 2026
    • 4.7 Market condition
      • Exhibit 23: Chart on Market condition - Five forces 2021 and 2026

    5 Market Segmentation by Component

    • 5.1 Market segments
      • Exhibit 24: Chart on Component - Market share 2021-2026 (%)
      • Exhibit 25: Data Table on Component - Market share 2021-2026 (%)
    • 5.2 Comparison by Component
      • Exhibit 26: Chart on Comparison by Component
      • Exhibit 27: Data Table on Comparison by Component
    • 5.3 Solution - Market size and forecast 2021-2026
      • Exhibit 28: Chart on Solution - Market size and forecast 2021-2026 ($ million)
      • Exhibit 29: Data Table on Solution - Market size and forecast 2021-2026 ($ million)
      • Exhibit 30: Chart on Solution - Year-over-year growth 2021-2026 (%)
      • Exhibit 31: Data Table on Solution - Year-over-year growth 2021-2026 (%)
    • 5.4 Services - Market size and forecast 2021-2026
      • Exhibit 32: Chart on Services - Market size and forecast 2021-2026 ($ million)
      • Exhibit 33: Data Table on Services - Market size and forecast 2021-2026 ($ million)
      • Exhibit 34: Chart on Services - Year-over-year growth 2021-2026 (%)
      • Exhibit 35: Data Table on Services - Year-over-year growth 2021-2026 (%)
    • 5.5 Market opportunity by Component
      • Exhibit 36: Market opportunity by Component ($ million)

    6 Customer Landscape

    • 6.1 Customer landscape overview
      • Exhibit 37: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

    7 Geographic Landscape

    • 7.1 Geographic segmentation
      • Exhibit 38: Chart on Market share by geography 2021-2026 (%)
      • Exhibit 39: Data Table on Market share by geography 2021-2026 (%)
    • 7.2 Geographic comparison
      • Exhibit 40: Chart on Geographic comparison
      • Exhibit 41: Data Table on Geographic comparison
    • 7.3 North America - Market size and forecast 2021-2026
      • Exhibit 42: Chart on North America - Market size and forecast 2021-2026 ($ million)
      • Exhibit 43: Data Table on North America - Market size and forecast 2021-2026 ($ million)
      • Exhibit 44: Chart on North America - Year-over-year growth 2021-2026 (%)
      • Exhibit 45: Data Table on North America - Year-over-year growth 2021-2026 (%)
    • 7.4 Europe - Market size and forecast 2021-2026
      • Exhibit 46: Chart on Europe - Market size and forecast 2021-2026 ($ million)
      • Exhibit 47: Data Table on Europe - Market size and forecast 2021-2026 ($ million)
      • Exhibit 48: Chart on Europe - Year-over-year growth 2021-2026 (%)
      • Exhibit 49: Data Table on Europe - Year-over-year growth 2021-2026 (%)
    • 7.5 APAC - Market size and forecast 2021-2026
      • Exhibit 50: Chart on APAC - Market size and forecast 2021-2026 ($ million)
      • Exhibit 51: Data Table on APAC - Market size and forecast 2021-2026 ($ million)
      • Exhibit 52: Chart on APAC - Year-over-year growth 2021-2026 (%)
      • Exhibit 53: Data Table on APAC - Year-over-year growth 2021-2026 (%)
    • 7.6 Middle East and Africa - Market size and forecast 2021-2026
      • Exhibit 54: Chart on Middle East and Africa - Market size and forecast 2021-2026 ($ million)
      • Exhibit 55: Data Table on Middle East and Africa - Market size and forecast 2021-2026 ($ million)
      • Exhibit 56: Chart on Middle East and Africa - Year-over-year growth 2021-2026 (%)
      • Exhibit 57: Data Table on Middle East and Africa - Year-over-year growth 2021-2026 (%)
    • 7.7 South America - Market size and forecast 2021-2026
      • Exhibit 58: Chart on South America - Market size and forecast 2021-2026 ($ million)
      • Exhibit 59: Data Table on South America - Market size and forecast 2021-2026 ($ million)
      • Exhibit 60: Chart on South America - Year-over-year growth 2021-2026 (%)
      • Exhibit 61: Data Table on South America - Year-over-year growth 2021-2026 (%)
    • 7.8 US - Market size and forecast 2021-2026
      • Exhibit 62: Chart on US - Market size and forecast 2021-2026 ($ million)
      • Exhibit 63: Data Table on US - Market size and forecast 2021-2026 ($ million)
      • Exhibit 64: Chart on US - Year-over-year growth 2021-2026 (%)
      • Exhibit 65: Data Table on US - Year-over-year growth 2021-2026 (%)
    • 7.9 China - Market size and forecast 2021-2026
      • Exhibit 66: Chart on China - Market size and forecast 2021-2026 ($ million)
      • Exhibit 67: Data Table on China - Market size and forecast 2021-2026 ($ million)
      • Exhibit 68: Chart on China - Year-over-year growth 2021-2026 (%)
      • Exhibit 69: Data Table on China - Year-over-year growth 2021-2026 (%)
    • 7.10 UK - Market size and forecast 2021-2026
      • Exhibit 70: Chart on UK - Market size and forecast 2021-2026 ($ million)
      • Exhibit 71: Data Table on UK - Market size and forecast 2021-2026 ($ million)
      • Exhibit 72: Chart on UK - Year-over-year growth 2021-2026 (%)
      • Exhibit 73: Data Table on UK - Year-over-year growth 2021-2026 (%)
    • 7.11 Germany - Market size and forecast 2021-2026
      • Exhibit 74: Chart on Germany - Market size and forecast 2021-2026 ($ million)
      • Exhibit 75: Data Table on Germany - Market size and forecast 2021-2026 ($ million)
      • Exhibit 76: Chart on Germany - Year-over-year growth 2021-2026 (%)
      • Exhibit 77: Data Table on Germany - Year-over-year growth 2021-2026 (%)
    • 7.12 India - Market size and forecast 2021-2026
      • Exhibit 78: Chart on India - Market size and forecast 2021-2026 ($ million)
      • Exhibit 79: Data Table on India - Market size and forecast 2021-2026 ($ million)
      • Exhibit 80: Chart on India - Year-over-year growth 2021-2026 (%)
      • Exhibit 81: Data Table on India - Year-over-year growth 2021-2026 (%)
    • 7.13 Market opportunity by geography
      • Exhibit 82: Market opportunity by geography ($ million)

    8 Drivers, Challenges, and Trends

    • 8.1 Market drivers
      • 8.2 Market challenges
        • 8.3 Impact of drivers and challenges
          • Exhibit 83: Impact of drivers and challenges in 2021 and 2026
        • 8.4 Market trends

          9 Vendor Landscape

          • 9.1 Overview
            • 9.2 Vendor landscape
              • Exhibit 84: Overview on Criticality of inputs and Factors of differentiation
            • 9.3 Landscape disruption
              • Exhibit 85: Overview on factors of disruption
            • 9.4 Industry risks
              • Exhibit 86: Impact of key risks on business

            10 Vendor Analysis

            • 10.1 Vendors covered
              • Exhibit 87: Vendors covered
            • 10.2 Market positioning of vendors
              • Exhibit 88: Matrix on vendor position and classification
            • 10.3 BlackLine Inc.
              • Exhibit 89: BlackLine Inc. - Overview
              • Exhibit 90: BlackLine Inc. - Product / Service
              • Exhibit 91: BlackLine Inc. - Key offerings
            • 10.4 Bottomline Technologies Inc.
              • Exhibit 92: Bottomline Technologies Inc. - Overview
              • Exhibit 93: Bottomline Technologies Inc. - Product / Service
              • Exhibit 94: Bottomline Technologies Inc. - Key offerings
            • 10.5 Comarch SA
              • Exhibit 95: Comarch SA - Overview
              • Exhibit 96: Comarch SA - Key offerings
            • 10.6 HighRadius Corp.
              • Exhibit 97: HighRadius Corp. - Overview
              • Exhibit 98: HighRadius Corp. - Product / Service
              • Exhibit 99: HighRadius Corp. - Key offerings
            • 10.7 Oracle Corp.
              • Exhibit 100: Oracle Corp. - Overview
              • Exhibit 101: Oracle Corp. - Business segments
              • Exhibit 102: Oracle Corp. - Key news
              • Exhibit 103: Oracle Corp. - Key offerings
              • Exhibit 104: Oracle Corp. - Segment focus
            • 10.8 Sage Group Plc
              • Exhibit 105: Sage Group Plc - Overview
              • Exhibit 106: Sage Group Plc - Business segments
              • Exhibit 107: Sage Group Plc - Key news
              • Exhibit 108: Sage Group Plc - Key offerings
              • Exhibit 109: Sage Group Plc - Segment focus
            • 10.9 SAP SE
              • Exhibit 110: SAP SE - Overview
              • Exhibit 111: SAP SE - Business segments
              • Exhibit 112: SAP SE - Key news
              • Exhibit 113: SAP SE - Key offerings
              • Exhibit 114: SAP SE - Segment focus
            • 10.10 SK Global Software LLC
              • Exhibit 115: SK Global Software LLC - Overview
              • Exhibit 116: SK Global Software LLC - Product / Service
              • Exhibit 117: SK Global Software LLC - Key offerings
            • 10.11 Workday Inc.
              • Exhibit 118: Workday Inc. - Overview
              • Exhibit 119: Workday Inc. - Product / Service
              • Exhibit 120: Workday Inc. - Key offerings
            • 10.12 Zoho Corp. Pvt. Ltd.
              • Exhibit 121: Zoho Corp. Pvt. Ltd. - Overview
              • Exhibit 122: Zoho Corp. Pvt. Ltd. - Product / Service
              • Exhibit 123: Zoho Corp. Pvt. Ltd. - Key offerings

            11 Appendix

            • 11.1 Scope of the report
              • 11.2 Inclusions and exclusions checklist
                • Exhibit 124: Inclusions checklist
              • 11.3 Currency conversion rates for US$
                • Exhibit 125: Currency conversion rates for US$
              • 11.4 Research methodology
                • Exhibit 126: Research methodology
                • Exhibit 127: Validation techniques employed for market sizing
                • Exhibit 128: Information sources
              • 11.5 List of abbreviations
                • Exhibit 129: List of abbreviations

              Research Framework

              Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

              TechnavioINFORMATION SOURCES

              Primary sources

              • Manufacturers and suppliers
              • Channel partners
              • Industry experts
              • Strategic decision makers

              Secondary sources

              • Industry journals and periodicals
              • Government data
              • Financial reports of key industry players
              • Historical data
              • Press releases
              Technavio

              TechnavioDATA ANALYSIS

              Data Synthesis

              • Collation of data
              • Estimation of key figures
              • Analysis of derived insights

              Data Validation

              • Triangulation with data models
              • Reference against proprietary databases
              • Corroboration with industry experts
              Technavio

              TechnavioREPORT WRITING

              Qualitative

              • Market drivers
              • Market challenges
              • Market trends
              • Five forces analysis

              Quantitative

              • Market size and forecast
              • Market segmentation
              • Geographical insights
              • Competitive landscape
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              Accounts Receivable Automation Market market growth will increase by $1.13 billion during 2022-2026.
              The accounts receivable automation market market is expected to grow at a CAGR of 10.27% during 2022-2026.
              Technavio has segmented the accounts receivable automation market market by component (Solution and Services) and geography (North America, Europe, APAC, Middle East and Africa, and South America).
              Ash Conversions International, BlackLine Inc., BlueSnap Inc., Bottomline Technologies Inc., Comarch SA, Corcentric Inc., Esker SA, HighRadius Corp., Kofax Inc., Mynd Integrated Solutions, Oracle Corp., PAGERO AB, Quadient Sro, Qvalia Group AB, Sage Group Plc, SAP SE, SK Global Software LLC, TechNVision Ventures Ltd., Workday Inc., Zoho Corp. Pvt. Ltd. are a few of the key vendors in the accounts receivable automation market market.
              Europe will register the highest growth rate of 34% among the other regions. Therefore, the accounts receivable automation market market in Europe is expected to garner significant business opportunities for the vendors during the forecast period.
              The key factors driving the accounts receivable automation market market growth are:
              • Increasing demand for cloud-based AR automation solution
              • Emergence of ML and AI-based AR automation solutions
              The accounts receivable automation market market vendors should focus on grabbing business opportunities from the solution segment as it accounted for the largest market share in the base year.
              • What are the key global market and the regional market share?
              • What are the revenue-generating key market segments?
              • What are the key factors driving and challenging this market’s growth?
              • Who are the key market vendors and their growth strategies?
              • What are the latest trends influencing the growth of this market?
              • What are the variables influencing the market growth in the primary regions?
              • What are the factors influencing the growth of the parent market?
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