Accounts Receivable Automation Market Global Industry Analysis, Size, Share, Growth, Trends And Forecast 2032

Posted by Ashish on October 11th, 2022

Accounts Receivable Automation Market is expected to reach US$ 6.6 Billion by 2032, up from US$ 2.4 billion in 2022, expanding at a high CAGR of 10.7%. This study explains that the key factors such as growing volumes of financial transactions have led to a need for an efficient cash management system, which in turn fuels the market growth.

The major factors that are expected to accelerate the growth of the Accounts Receivable Automation Market during the forecast period include improving cash position, increase control over cash and working, increased account receivable management efficiency, and improved customer communication, with rise in customer service and satisfaction with reduced administrative cost in minimizing credit risk.
Moreover, the rising workflow automation practices across different industry sectors have led to automation in account receivable processes. These solutions help in improving the cash flow as well as reduce the accounting cycle time. All these factors are aiding the growth of the accounts receivable automation market.

In addition, due to the continuously changing environment every business is focusing on enhancing their business efficiency, which can be achieved with the help of better managing of account receivables such as digital invoice and payments which is another factor that is expected to accelerate the growth of the Accounts Receivable Automation market during the forecast period.

Key Takeaways from the Market Study

Global Accounts Receivable Automation Market was valued at US$ 2.4 Bn by 2022-end
The US to account for the highest value share of US$ 2.4 Bn of global market demand for Accounts Receivable Automation Market in 2032.

From 2015 to 2021, Accounts Receivable Automation demand expanded at a CAGR of 12.2%
By Component, the Solution constitutes the bulk of Accounts Receivable Automation Market with a CAGR of 10.2%.

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