The market parameters of this Accounts Payable Automation Market report include but are not limited to latest trends, market segmentation, new market entry, industry forecasting, target market analysis, future directions, opportunity identification, strategic analysis, insights and innovation. This market is set to witness a healthy CAGR of 11.55% in the forecast period of 2019- 2026.
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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Top Manufacturers Profiles Operating in this Market: 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, others.
Main objectives for this report:
- We will give you an assessment of the extent to which the market possesses commercial characteristics (such as the presence of firms with primarily non-government business bases, the presence of business methods not consistent with public law/regulation/oversight including government acquisition) along with examples or instances of information that supports your assessment.
- We will also help you identify standard/customary terms and conditions such as discounts, warranties, buyer financing, inspection, and acceptance for the industry.
- We will further help you in knowing any pricing issues, price ranges, and analysis of price variations of products in this industry.
- Furthermore, we will help you in identifying any historical trends to predict Protection Market growth rate up to 2026.
- Lastly, we will predict the general tendency for supply and demand in the Market industry.
WHY YOU SHOULD BUY Accounts Payable Automation market REPORT?
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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North America: US, Canada, Mexico
South America: Brazil, Argentina, Rest of South America
Asia-Pacific: Japan, China, South Korea, India, Australia, Singapore, Malaysia
Middle East and Africa: South Africa, Egypt, Saudi Arabia, United Arab Emirates, Israel
Company Key Points & Share Analysis:
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
Major Market Drivers & Restraints:
- 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
Accounts Payable Automation market With Key Segments:
- Professional Services
- Implementation and Integration
- Support and Maintenance
- Managed Services
- Large Enterprises
- Small and Medium-Sized Enterprises
By Deployment Type
- Consumer Goods and Retail
- Banking, Financial Services, and Insurance
- IT and Telecom
- Energy and Utilities
Major Topics Covered in the report:
Chapter 1 Study Coverage
Chapter 2 Executive Summary
Chapter 3 Market Size by Manufacturers
Chapter 4 Production by Regions
Chapter 5 Consumption by Regions
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Key Insights in the report:
- Complete and distinct analysis of the market drivers and restraints
- Key market players involved in this industry
- Detailed analysis of the market segmentation
- Competitive analysis of the key players involved
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