According to the latest report by IMARC Group, titled “Accounts Receivable Automation Market Report by Component (Solution, Services), Deployment (On-premises, Cloud-based), Organization Size (Large Enterprises, Small and Medium-sized Enterprises), Vertical (Consumer Goods and Retail, BFSI, Manufacturing, IT and Telecom, Healthcare, Energy and Utilities, and Others), and Region 2025-2033,” the global accounts receivable automation market size reached USD 2.8 Billion in 2024. Accounts receivable automation refers to a technological solution that automates and streamlines the processes related to managing accounts receivable in an organization. It leverages software applications and tools to minimize manual effort, enhance efficiency, and improve the overall effectiveness of the accounts receivable function. With automation, organizations can generate invoices automatically based on predefined templates and rules, thereby reducing the time and effort required for manual invoice creation. The automation software also enables seamless delivery of invoices to customers through various electronic channels, such as email or online portals. Additionally, it provides multiple payment options, including credit cards and electronic funds transfer, thus simplifying the payment collection process and improving cash flow. Automation tools send automated reminders and notifications to customers regarding upcoming or overdue payments, thereby ensuring timely payment and reducing the occurrence of late payments. Accounts receivable automation offers real-time visibility into the accounts receivable process through reporting and analytics features, allowing organizations to track outstanding invoices, monitor payment trends, and measure collection performance. By integrating with existing financial systems, such as ERP or accounting software, automation software ensures smooth data flow and eliminates the need for manual data entry and reconciliation.
Global Accounts Receivable Automation Market Trends:
The rising focus on operational efficiency represents a significant factor driving the growth of the market across the globe. This, coupled with the increasing need in organizations to streamline their financial processes is acting as a major growth-inducing factor. In line with this, accounts receivable automation eliminates manual and time-consuming tasks, such as data entry, invoice processing, and payment reconciliation, thus leading to faster and more accurate financial operations, which, in turn, is driving the market growth. The market is also being driven by the increasing demand for maintaining a healthy cash flow. In addition to this, automation enables organizations to accelerate the collection process by sending timely and personalized payment reminders, automating payment reconciliation, and providing real-time visibility into outstanding invoices. This further helps organizations optimize their cash flow and minimize the risk of late or unpaid invoices, thus boosting the growth of the market. Apart from this, automation of accounts receivable processes significantly reduces the need for manual labor, reducing costs associated with staffing and manual errors, which is contributing to the growth of the market. Other factors, including faster payments, enhanced customer satisfaction and data security, strengthened customer relationships, reduced risk of errors, and improved data accuracy, are creating a positive outlook for the market across the globe. Looking forward, the market value is projected to reach USD 6.4 Billion by 2033, expanding at a CAGR of 9.7% during 2025-2033.
Market Summary:
- Based on component, the market has been classified into solutions and services. Currently, the solutions hold the largest market share worldwide.
- On the basis of the product form insights, the market has been segregated into on-premises and cloud-based.
- Based on the organization size, the market is bifurcated into large enterprises, and small and medium-sized enterprises.
- On the basis of the vertical, the market has been segmented into consumer goods and retail, BFSI, manufacturing, IT and Telecom, healthcare, energy and utilities, and others. Currently, the BFSI accounts for the largest market share worldwide.
- On a geographical front, the market has been segmented into Asia Pacific, North America, Europe, Middle East and Africa, and Latin America. Presently, North America is dominating the market across the world.
- The competitive landscape of the market has also been examined with some of the key players being BlackLine Inc., Bottomline Technologies Inc., Comarch SA, Esker SA, HighRadius Corporation, Invoiced Inc., Oracle Corporation, Sage Group plc, SAP SE, ScienceSoft USA Corporation, VersaPay Corporation, Yaypay Inc. (Quadient) and Zoho Corporation Private Ltd.
Report Coverage:
Report Features |
Details |
Base Year of the Analysis |
2024 |
Historical Period |
2019-2024 |
Forecast Period |
2025-2033 |
Units |
Billion USD |
Segment Coverage |
Component, Deployment, Organization Size, Vertical, Region |
Region Covered |
Asia Pacific, Europe, North America, Latin America, Middle East and Africa |
Countries Covered |
United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico |
Companies Covered |
BlackLine Inc., Bottomline Technologies Inc., Comarch SA, Esker SA, HighRadius Corporation, Invoiced Inc., Oracle Corporation, Sage Group plc, SAP SE, ScienceSoft USA Corporation, VersaPay Corporation, Yaypay Inc. (Quadient) and Zoho Corporation Private Ltd. |
Customization Scope |
10% Free Customization |
Post-Sale Analyst Support |
10-12 Weeks |
Delivery Format |
PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request) |
About Us:
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
Contact Us:
IMARC Group
134 N 4th St.
Brooklyn, NY 11249, USA
Email: Sales@imarcgroup.com
Americas:- +1 631 791 1145 | Africa and Europe :- +44-753-713-2163 | Asia: +91-120-433-0800