Wide-ranging market information of the ACCOUNTS PAYABLE AUTOMATION Market report will surely grow business and improve return on investment (ROI). This market research report gives CAGR values along with its fluctuations for the specific forecast period.
In this report, Researchers have analyzed Strength, Weakness, opportunities and threats in the market and provides the unbiased picture of the market with the Qualitative and informative knowledge with Top Competitors are Ariba, Inc., The Sage Group plc, Tipalti, Inc., FreshBooks, FIS, Zycus Inc, Bottomline Technologies (de), Inc., Coupa Software Inc., Comarch, FinancialForce, AvidXchange, Inc., Vanguard Systems, Inc., Procurify, Bill.Com, Nvoicepay, Norming Software International Ltd., Qvalia AB, Beanworks., KashFlow Software Ltd, Basware, Corcentric, LLC., MineralTree among others.
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Succinct Description of the Market:
Global accounts payable automation market is set to witness a healthy CAGR of 11.55% in the forecast period of 2019- 2026. The report contains data of the base year 2018 and historic year 2017. Increasing integration of ML and RPA Technology and rising demand for cost effective solutions are the factor for the market growth.
Accounts Payable Automation is a technology which is specially designed to streamline and automate payable accounts procedures, remove manual duties and provide higher visibility and control over significant economic information. They have the ability to manage the invoice coding and routing via digital workflow, whose function are based on the specific logic installed in the automation accounts payable software by the organization. This AP automation is widely used in industries such as consumer goods &retails, BFSI, IT& telecom, healthcare and other. It is cost effective and also reduces the risk of frauds.
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The Promising Regions & Countries Mentioned In Accounts Payable Automation Market Report are North America, Europe, Asia Pacific, Middle East & Africa and Latin America. This helps gain better idea about the spread of this particular market in respective regions.
Key Developments in the Market:
In August 2019, AvidXchange announced the acquisition of BankTEL Systems so they can become the major provider of invoice-to-payment solutions to banking and financial services sector. This will also help both the company to offer their customer fully integrated payment solution. Incorporating AvidPay into the ASCEND solution of BankTEL provides more industry-specific capacities for AP, fixed assets, prepaid and accruals to AvidXchange clients
In March 2019, FLEETCOR Technologies, Inc. announced the acquisition of Nvoicepay, Inc. The addition of Nvoicepay to the portfolio of FLEETCOR Corporate Payments will help them to manage the full disbursement of business accounts payable. This will also provide their customers with a method where they can pay all their account payable with one vendor
Crucial Market Segment details-:
- By Component (Solution, Services),
- Organization (Large Enterprises, Small and Medium-Sized Enterprises), Deployment Type (On-Premises, Cloud),
- Vertical (Consumer Goods and Retail, Banking, Financial Services, and Insurance, IT and Telecom, Manufacturing, Healthcare, Energy and Utilities, Others)
Methodologies utilized to evaluate the market-:
- Increasing demand for AP automation to enhance payment process and reduce invoice processing time will drive the market
- Their ability to control user access and credentials leading to reduced fraudulent transactions will also enhance the market
- High investment cost will hamper the market growth
- Increasing data encryption and security concerns is another factor restricting this market growth
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The Accounts Payable Automation Market report provides a meticulous picture of the sector by summary of data, production, and method of study originated from various sources. Competitive analysis comprises identifying the key mutual trends and major players of the market. Besides, report also includes an assessment of different factors essential for the existing market players and new market players coupled with methodical study of value chain.
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Table of Contents
1 Accounts Payable Automation Market Overview
2 Manufacturers Profiles
3 Global Accounts Payable Automation Market Competitions, by Players
3.1 Global Accounts Payable Automation Revenue and Share by Players
3.2 Market Concentration Rate
3.2.1 Top 5 Accounts Payable Automation Players Market Share
3.2.2 Top 10 Accounts Payable Automation Players Market Share
3.3 Market Competition Trend
4 Global Accounts Payable Automation Market Size by Regions
5 North America Accounts Payable Automation Revenue by Countries
6 Europe Accounts Payable Automation Revenue by Countries
7 Asia-Pacific Accounts Payable Automation Revenue by Countries
8 South America Accounts Payable Automation Revenue by Countries
9 Middle East and Africa Revenue Accounts Payable Automation by Countries
10 Global Accounts Payable Automation Market Segment by Type
11 Global Accounts Payable Automation Market Segment by Application
12 Global Accounts Payable Automation Market Size Forecast (2019-2026)
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