Accounts Receivable Automation Market Worth $3.0 Billion by 2024 - Exclusive Report by MarketsandMarkets™
Sep 13, 2019, 10:30 ET
CHICAGO, Sept. 13, 2019 /PRNewswire/ -- According to a new market research report "Accounts Receivable Automation Market by Component (Solution and Services), Organization Size, Deployment Type, Industry (BFSI, IT & Telecom, Manufacturing, Consumer Goods & Retail, Healthcare, Energy & Utilities), and Region - Global Forecast to 2024", published by MarketsandMarkets™, the global Accounts Receivable Automation Market size is expected to grow from USD 1.7 billion in 2019 to USD 3.0 billion by 2024, at a Compound Annual Growth Rate (CAGR) of 12.1% during the forecast period.
Browse in-depth TOC on "Accounts Receivable Automation Market"
57 – Tables
29 – Figures
117 – Pages
Request PDF Brochure:
https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=186013726
The services segment of accounts receivable automation to grow at the highest growth rate during the forecast period
Services play a crucial role in efficiently carrying out various tasks performed in the entire receivable process of an organization. The services segment has been broadly classified into consulting and implementation, and support and maintenance services. Accounts receivable automation vendors offer services to plan, design, implement, and deploy accounts receivable solutions. The increase in the number of digital transactions in the emerging economies is expected to fuel the demand for accounts receivable automation services. The demand for consulting and implementation services is expected to increase in the Accounts Receivable Automation Market with an increase in the adoption of accounts receivable automation technology-based solutions. Services form an integral part of the software lifecycle and expected to boost the growth rate of the Accounts Receivable Automation Market during the forecast period.
The Small and Medium-sized Enterprises (SMEs) segment to grow at the highest CAGR during the forecast period
SMEs across the globe are rapidly adopting advanced technologies to create a niche for themselves in the global market. The rapid adoption of digitalization and automation has augmented profits for SMEs and greatly enhanced their business productivity. Organizations with an employee range between 1 and 1,000 are categorized under the SMEs segment. Governments of countries across the globe have launched various initiatives to promote the adoption of digital payment technologies in SMEs.
Speak to Our Expert Analyst:
https://www.marketsandmarkets.com/speaktoanalystNew.asp?id=186013726
Healthcare and life sciences vertical to grow at a significant CAGR during the forecast period
The healthcare industry is implementing and adopting new technologies to provide improved services to patients. Organizations in this industry require efficient payment acceptance technologies to streamline their operations and enhance the customer experience. Accounts receivable automation solutions are being increasingly adopted by healthcare providers as they help simplify the billing process. The accounts receivable operations at most healthcare organizations suffer from an assortment of bottlenecks between the initial order and actual disbursement that can quietly erode revenue streams.
The major vendors in the Accounts Receivable Automation Market are Sage (UK), Oracle (US), SAP (Germany), Workday (US), Bottomline Technologies (US), Comarch (Poland), Esker (France), Kofax (US), Zoho (US), HighRadius (US), FinancialForce (US), Emagia (US), VersaPay (Canada), Rimilia (England), and YayPay (US).
Browse Adjacent Markets: Software and Services Market Research Reports & Consulting
Browse Related Reports:
Artificial Intelligence in Accounting Market by Component, Deployment Mode, Technology, Enterprise Size, Application (Automated Bookkeeping, Fraud and Risk Management, and Invoice Classification and Approvals), and Region - Global Forecast to 2024
Accounts Payable Automation Market by Component (Solution and Services), Organization Size, Deployment Type, Vertical (Consumer Goods and Retail, BFSI, IT and Telecom, and Manufacturing), and Region - Global Forecast to 2024
https://www.marketsandmarkets.com/Market-Reports/accounts-payable-automation-market-1206101.html
About MarketsandMarkets™
MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies' revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.
Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.
MarketsandMarkets's flagship competitive intelligence and market research platform, "Knowledge Store" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.
Contact:
Mr. Shelly Singh
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA: +1-888-600-6441
Email: [email protected]
MarketsandMarkets™ Blog: https://mnmblog.org/
Research Insights: https://www.marketsandmarkets.com/ResearchInsight/accounts-receivable-automation-market.asp
Content Source: https://www.marketsandmarkets.com/PressReleases/accounts-receivable-automation.asp
SOURCE MarketsandMarkets
