Worldwide Accounts Payable Automation Industry to 2026 - Government Initiatives in Automation Presents Opportunities
DUBLIN, July 21, 2021 /PRNewswire/ -- The "Global Accounts Payable Automation Market (2021-2026) by Component, Deployment Type, Application and Geography - Competitive Analysis, Impact of COVID-19, Ansoff Analysis" report has been added to ResearchAndMarkets.com's offering.
The Global Accounts Payable Automation Market is estimated to be worth USD 2.5 Billion in 2021 and is expected to reach USD 4.47 Billion by 2026, growing at a CAGR of 12.3%.
The increasing demand for automation of accounts payable owing to the benefits such as remote payable option, real-time fast track process, 24/7 access to payment information, and increased efficacy is majorly driving the market. In addition, automation enables transparency of cash flows, which aids in improving security and fraud management and complete control of the invoice approval process. The Government initiatives in digitalizing and automation are fuelling market growth. However, the high cost of investment and frequent updating is hampering the market growth. Moreover, lack of skilled personnel and complicated software is anticipated to hinder the market.
The Global Accounts Payable Automation Market is segmented based on Component, Deployment Type, Application, and Geography.
Some of the companies covered in this report are Tipalti, FreshBooks, FIS, Zycus, Bottomline Technoogies, Coupa Software, Comarch, FinancialForce, AvidXchange, etc
The report includes the Competitive Quadrant, a proprietary tool to analyze and evaluate the position of companies based on their Industry Position score and Market Performance score. The tool uses various factors for categorizing the players into four categories. Some of these factors considered for analysis are financial performance over the last 3 years, growth strategies, innovation score, new product launches, investments, growth in market share, etc.
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The report offers a comprehensive evaluation of the Global Accounts Payable Automation Market. The report includes in-depth qualitative analysis, verifiable data from authentic sources, and projections about market size. The projections are calculated using proven research methodologies.
Key Topics Covered:
2 Research Methodology
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