Market Overview:
The global accounts payable (AP) automation software market is expected to grow at a CAGR of 10.8% from 2018 to 2030. The growth of the market can be attributed to the increasing adoption of AP automation software by small and medium enterprises (SMEs) and large enterprises, and the rising demand for cloud-based AP automation software. The global accounts payable (AP) automation software market is segmented on the basis of type, application, and region. On the basis of type, the market is segmented into cloud-based AP automation software and on-premises AP automation software. Cloud-based AP automationsoftware held a larger share in 2017 owing to its advantages such as low cost, scalability, easy deployment & upgradation,and 24/7 availability.
 Automation Software Industry Outlook.svg)
Product Definition:
Accounts payable automation software is a type of software that helps businesses manage and automate their accounts payable processes. This type of software can help businesses save time and money by automating tasks such as invoice management, order tracking, and payment processing. Additionally, accounts payable automation software can help businesses reduce the risk of errors due to human error.
Cloud-based:
Cloud-based software is a type of software service that provides shared computer processing for multiple users. It involves the use of remote servers and can be accessed from different locations through the internet. Cloud services offer various advantages such as increased data storage, easy accessibility, and low cost which has resulted in its growing demand among small & medium enterprises (SMEs).
On-premises:
On-premises is software that is installed and used in an organization's internal network. It can be accessed only by authorized users within the organization. On-premises software solutions are generally termed as ‘shrinkwrap’ solutions, since they are installed on customer premises in a shrinkwrapped form (i.e., without being distributed across the internet).
Application Insights:
The Small and Medium-sized Enterprise (SME) segment accounted for the largest share of over 60.0% in 2017. The SMEs are preferring cloud-based solutions as they can be managed from anywhere, thus making it easy to handle transactions and files from remote offices/branches. Furthermore, the growing penetration of smartphones is further increasing the usage of mobile devices for accounting purposes which is driving adoption of cloud-based accounts payable automation software among SMEs across various industries such as retail, manufacturing etc.
The Large Enterprise segment accounted for a significant share in 2017 owing to factors such as large number of employees and complex business structures with numerous departments & vendors across different industries etc., Thus, adopting an integrated AP solution that includes both on-premises and cloud based modules will help enterprises manage their payments efficiently while reducing costs associated with manual processes like data entry & processing fees etc.
Regional Analysis:
North America accounted for the largest share of over 35% in 2017. The region is expected to maintain its lead throughout the forecast period owing to increasing adoption of cloud-based accounting software by SMEs and large enterprises. In addition, growing use of mobile devices by users is anticipated to fuel demand for AP automation software in North America.
Asia Pacific regional market captured a significant market share in 2017 due to increased spending on infrastructure development and technological advancements across various industries, especially BFSI and IT & telecom sectors. Furthermore, increasing number of small & medium enterprises (SMEs) are expected drive growth across this region during the forecast period. Growing awareness regarding digitalization among businesses is also one major factor driving demand for AP automation software among SMEs across Asia Pacific region thus making it one of the fastest-growing markets globally over the next few years (predictive analysis).
Growth Factors:
- Increased demand for AP automation software from small and medium-sized businesses (SMBs) due to the need to improve efficiency and reduce costs.
- The growing trend of cloud-based AP automation software, which is easier and faster to deploy than on-premises solutions and offers more flexibility.
- The increasing use of artificial intelligence (AI) and machine learning in AP automation software, which helps businesses automate invoice processing, identify spending patterns, and make better decisions about payments.
- The proliferation of mobile devices has led to a rise in the number of employees who want to manage their invoices on the go; this is driving demand for cloud-based AP automation solutions that can be accessed from any device or location.
- Rising awareness among businesses about the benefits of automating AP processes, such as reducing processing time by up to 50%, improving cash flow by up to 30%, and freeing up staff time for other tasks
Scope Of The Report
Report Attributes
Report Details
Report Title
Accounts Payable (AP) Automation Software Market Research Report
By Type
Cloud-based, On-premises
By Application
SMEs, Large Enterprise, Others
By Companies
Freshbooks, Xero, Zoho, Intuit, Brightpearl, Sage, FinancialForce, Tipalti, PaySimple, Acclivity Group, KashFlow Software, Araize, Micronetics, Norming Software, Yat Software, SAP
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
166
Number of Tables & Figures
117
Customization Available
Yes, the report can be customized as per your need.
Global Accounts Payable (AP) Automation Software Market Report Segments:
The global Accounts Payable (AP) Automation Software market is segmented on the basis of:
Types
Cloud-based, On-premises
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
SMEs, Large Enterprise, Others
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- Freshbooks
- Xero
- Zoho
- Intuit
- Brightpearl
- Sage
- FinancialForce
- Tipalti
- PaySimple
- Acclivity Group
- KashFlow Software
- Araize
- Micronetics
- Norming Software
- Yat Software
- SAP
 Automation Software Market Overview.svg)
Highlights of The Accounts Payable (AP) Automation Software Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Cloud-based
- On-premises
- By Application:
- SMEs
- Large Enterprise
- Others
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Accounts Payable (AP) Automation Software Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
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 Automation Software Market Statistics.svg)
8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
Accounts Payable (AP) automation software is a computer program that automates the process of paying bills and invoices. This software can help businesses save time and money by reducing the number of times they have to contact vendors to pay bills.
Some of the key players operating in the accounts payable (ap) automation software market are Freshbooks, Xero, Zoho, Intuit, Brightpearl, Sage, FinancialForce, Tipalti, PaySimple, Acclivity Group, KashFlow Software, Araize, Micronetics, Norming Software, Yat Software, SAP.
The accounts payable (ap) automation software market is expected to grow at a compound annual growth rate of 10.8%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Accounts Payable (AP) Automation Software Market Overview
4.1 Introduction
4.1.1 Market Taxonomy
4.1.2 Market Definition
4.1.3 Macro-Economic Factors Impacting the Market Growth
4.2 Accounts Payable (AP) Automation Software Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Accounts Payable (AP) Automation Software Market - Supply Chain Analysis
4.3.1 List of Key Suppliers
4.3.2 List of Key Distributors
4.3.3 List of Key Consumers
4.4 Key Forces Shaping the Accounts Payable (AP) Automation Software Market
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of Substitution
4.4.4 Threat of New Entrants
4.4.5 Competitive Rivalry
4.5 Global Accounts Payable (AP) Automation Software Market Size & Forecast, 2020-2028
4.5.1 Accounts Payable (AP) Automation Software Market Size and Y-o-Y Growth
4.5.2 Accounts Payable (AP) Automation Software Market Absolute $ Opportunity
Chapter 5 Global Market Analysis and Forecast by Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Type
5.1.2 Basis Point Share (BPS) Analysis by Type
5.1.3 Absolute $ Opportunity Assessment by Type
5.2 Market Size Forecast by Type
5.2.1 Cloud-based
5.2.2 On-premises
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Market Analysis and Forecast by Applications
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by Applications
6.1.2 Basis Point Share (BPS) Analysis by Applications
6.1.3 Absolute $ Opportunity Assessment by Applications
6.2 Market Size Forecast by Applications
6.2.1 SMEs
6.2.2 Large Enterprise
6.2.3 Others
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Accounts Payable (AP) Automation Software Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 Accounts Payable (AP) Automation Software Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America Analysis and Forecast
9.1 Introduction
9.2 North America Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America Market Size Forecast by Type
9.6.1 Cloud-based
9.6.2 On-premises
9.7 Basis Point Share (BPS) Analysis by Type
9.8 Absolute $ Opportunity Assessment by Type
9.9 Market Attractiveness Analysis by Type
9.10 North America Market Size Forecast by Applications
9.10.1 SMEs
9.10.2 Large Enterprise
9.10.3 Others
9.11 Basis Point Share (BPS) Analysis by Applications
9.12 Absolute $ Opportunity Assessment by Applications
9.13 Market Attractiveness Analysis by Applications
Chapter 10 Europe Analysis and Forecast
10.1 Introduction
10.2 Europe Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe Market Size Forecast by Type
10.6.1 Cloud-based
10.6.2 On-premises
10.7 Basis Point Share (BPS) Analysis by Type
10.8 Absolute $ Opportunity Assessment by Type
10.9 Market Attractiveness Analysis by Type
10.10 Europe Market Size Forecast by Applications
10.10.1 SMEs
10.10.2 Large Enterprise
10.10.3 Others
10.11 Basis Point Share (BPS) Analysis by Applications
10.12 Absolute $ Opportunity Assessment by Applications
10.13 Market Attractiveness Analysis by Applications
Chapter 11 Asia Pacific Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific Market Size Forecast by Type
11.6.1 Cloud-based
11.6.2 On-premises
11.7 Basis Point Share (BPS) Analysis by Type
11.8 Absolute $ Opportunity Assessment by Type
11.9 Market Attractiveness Analysis by Type
11.10 Asia Pacific Market Size Forecast by Applications
11.10.1 SMEs
11.10.2 Large Enterprise
11.10.3 Others
11.11 Basis Point Share (BPS) Analysis by Applications
11.12 Absolute $ Opportunity Assessment by Applications
11.13 Market Attractiveness Analysis by Applications
Chapter 12 Latin America Analysis and Forecast
12.1 Introduction
12.2 Latin America Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America Market Size Forecast by Type
12.6.1 Cloud-based
12.6.2 On-premises
12.7 Basis Point Share (BPS) Analysis by Type
12.8 Absolute $ Opportunity Assessment by Type
12.9 Market Attractiveness Analysis by Type
12.10 Latin America Market Size Forecast by Applications
12.10.1 SMEs
12.10.2 Large Enterprise
12.10.3 Others
12.11 Basis Point Share (BPS) Analysis by Applications
12.12 Absolute $ Opportunity Assessment by Applications
12.13 Market Attractiveness Analysis by Applications
Chapter 13 Middle East & Africa (MEA) Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Market Size Forecast by Country
13.2.1 Saudi Arabia
13.2.2 South Africa
13.2.3 UAE
13.2.4 Rest of Middle East & Africa (MEA)
13.3 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) Market Size Forecast by Type
13.6.1 Cloud-based
13.6.2 On-premises
13.7 Basis Point Share (BPS) Analysis by Type
13.8 Absolute $ Opportunity Assessment by Type
13.9 Market Attractiveness Analysis by Type
13.10 Middle East & Africa (MEA) Market Size Forecast by Applications
13.10.1 SMEs
13.10.2 Large Enterprise
13.10.3 Others
13.11 Basis Point Share (BPS) Analysis by Applications
13.12 Absolute $ Opportunity Assessment by Applications
13.13 Market Attractiveness Analysis by Applications
Chapter 14 Competition Landscape
14.1 Accounts Payable (AP) Automation Software Market: Competitive Dashboard
14.2 Global Accounts Payable (AP) Automation Software Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 Freshbooks
14.3.2 Xero
14.3.3 Zoho
14.3.4 Intuit
14.3.5 Brightpearl
14.3.6 Sage
14.3.7 FinancialForce
14.3.8 Tipalti
14.3.9 PaySimple
14.3.10 Acclivity Group
14.3.11 KashFlow Software
14.3.12 Araize
14.3.13 Micronetics
14.3.14 Norming Software
14.3.15 Yat Software
14.3.16 SAP
