Global Accounts Payable Automation Market: Size & Forecasts with Impact Analysis of COVID-19 (2022-2026)
The report provides an in depth analysis of the global accounts payable automation market by value, by deployment type, by region, etc. The report provides a regional analysis of the accounts payable automation market, including the following regions: North America, Asia Pacific, Europe, Middle East & Africa and Latin America. The report also provides a detailed analysis of the COVID-19 impact on the accounts payable automation market.
The report also assesses the key opportunities in the market and outlines the factors that are and will be driving the growth of the industry. Growth of the overall global accounts payable automation market has also been forecasted for the period 2022-2026, taking into consideration the previous growth patterns, the growth drivers and the current and future trends.
The global accounts payable automation market is moderately fragmented with many top market players operating worldwide. The key players of the accounts payable automation market are SAGE Group, SAP, Oracle Corporation, and Tiplati. are also profiled with their financial information and respective business strategies.
Country Coverage
North America
Asia Pacific
Europe
Middle East & Africa
Latin America
Company Coverage
SAGE Group
SAP
Oracle Corporation
Tiplati
Executive Summary
Accounts Payable Automation technology helps businesses in achieving a more efficient, expeditious and accurate way to handle this back-end financial process. The software eliminates the manual processing of accounts payable by establishing a digital workflow for data entry, invoice matching, coding invoices and approval routing. With the help of AP automation, organizations can brought down their processing costs and can work on improving working capital ratio. By data being stored onto a single platform, makes it easier for financial managers to audit the information.
Accounts Payable Automation can be segmented on the basis of component (Software, Solutions and Hardware); deployment type (On-premises and Cloud), and by application (BFSI, Telecom & IT, Healthcare, Retail & Consumer Goods, and Others).
The global accounts payable automation market is projected to grow significantly during the period of 2022-2026. The global accounts payable automation market is expected to increase due to rapid adoption of cloud services, embedded finance, availability of critical financial data, benefits over traditional AP process, integration of AP with ERP system, and boom in Fintech,. Yet, the market faces some challenges like data security and employees concerns regarding AP automation.
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