Market Overview:
The global invoice automation software market is expected to grow at a CAGR of 10.8% during the forecast period from 2018 to 2030. The growth of the market can be attributed to the increasing adoption of cloud-based invoice automation software and the growing demand for invoice automation software in various industries such as BFSI, IT and telecommunications, retail and e-commerce, government, energy and utilities, among others.
Product Definition:
An invoice automation software is a computer program that helps you create, send and manage invoices. It can automate many of the tasks involved in invoicing, such as creating and sending invoices, tracking payments, and generating reports. Automating these tasks can save you time and money.
Cloud Based:
Cloud based software is a collection of data and applications that are hosted by a third party. The data is stored remotely on the cloud and can be accessed by multiple users from different locations. Cloud based solutions offer benefits such as increased efficiency, flexibility, reduced costs, ease of use and quick access to information. These solutions also help in eliminating paper work process which further helps in improving customer experience positively impacting revenue generation.
On-Premise:
On-premise software is a type of cloud computing that involves installing the software and data on the end user's own computers, servers, laptops or mobile devices. The information then has to be transferred to the cloud manually using an external drive or over a network. This process is done in real-time and hence it takes more time as compared to off-premise solutions wherein all this information is stored in the server of Invoice Automation Software company itself.
Application Insights:
The BFSI application segment accounted for the largest market share in 2017 and is expected to grow at a CAGR of XX% from 2018 to 2030. The growth can be attributed to the increasing use of invoice automation software by banks, payment processors, and other financial institutions. The implementation of these solutions helps financial institutions in reducing manual processes, improving accuracy, and enhancing overall efficiency. Moreover, these solutions also help reduce costs associated with manual processing as well as errors that may occur due to human efforts involved in the process.
The IT & telecommunication segment accounted for a significant market share in 2017 owing to growing demand from customers within this industry regarding invoices or bills issued by vendors or suppliers for goods/services provided during the period between contracts or agreements signed between them.
Regional Analysis:
North America dominated the global market in 2017. The growth can be attributed to the presence of prominent players such as Oracle Corporation; Microsoft Corporation; and Intuit Inc. in this region. Moreover, increasing demand for cloud-based solutions is also expected to drive regional growth over the forecast period.
Asia Pacific is anticipated to witness significant growth over the next eight years owing to increasing adoption of automation software by small and medium enterprises (SMEs). Furthermore, growing penetration of internet users and rapid technological advancements are also contributing toward regional market development.
Growth Factors:
- Increasing demand for automation in invoice processing to reduce the time and cost of processing invoices.
- Growing number of small and medium businesses (SMBs) that are looking for ways to automate their invoice processing operations in order to improve efficiency and reduce costs.
- The increasing adoption of cloud-based solutions, which is helping to drive the growth of the Invoice Automation Software market.
- The growing trend towards digitization, which is helping to fuel the growth of the Invoice Automation Software market by making it easier for businesses to manage their invoices electronically.
Scope Of The Report
Report Attributes
Report Details
Report Title
Invoice Automation Software Market Research Report
By Type
Cloud Based, On-Premise
By Application
BFSI, IT and Telecommunications, Retail and e-commerce, Government, Energy and Utilities, Others
By Companies
SAP, AvidXchange, Bill.com, ServiceChannel, Chrome River, Coupa, FreshBooks, WorkflowMax, Zoho, QuickBooks, Xero
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
206
Number of Tables & Figures
145
Customization Available
Yes, the report can be customized as per your need.
Global Invoice Automation Software Market Report Segments:
The global Invoice Automation Software market is segmented on the basis of:
Types
Cloud Based, On-Premise
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
BFSI, IT and Telecommunications, Retail and e-commerce, Government, Energy and Utilities, 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:
- SAP
- AvidXchange
- Bill.com
- ServiceChannel
- Chrome River
- Coupa
- FreshBooks
- WorkflowMax
- Zoho
- QuickBooks
- Xero
Highlights of The Invoice 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-Premise
- By Application:
- BFSI
- IT and Telecommunications
- Retail and e-commerce
- Government
- Energy and Utilities
- 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 Invoice 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.
How you may use our products:
- Correctly Positioning New Products
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- Understanding Competition Scenario
- Product & Brand Management
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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?
Invoice automation software is a computer program that automates the process of creating and issuing invoices. This software can be used to create, print, and send out invoices automatically.
Some of the major players in the invoice automation software market are SAP, AvidXchange, Bill.com, ServiceChannel, Chrome River, Coupa, FreshBooks, WorkflowMax, Zoho, QuickBooks, Xero.
The invoice 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 Invoice 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 Invoice Automation Software Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Invoice 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 Invoice 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 Invoice Automation Software Market Size & Forecast, 2018-2028
4.5.1 Invoice Automation Software Market Size and Y-o-Y Growth
4.5.2 Invoice Automation Software Market Absolute $ Opportunity
Chapter 5 Global Invoice Automation Software 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 Invoice Automation Software Market Size Forecast by Type
5.2.1 Cloud Based
5.2.2 On-Premise
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Invoice Automation Software 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 Invoice Automation Software Market Size Forecast by Applications
6.2.1 BFSI
6.2.2 IT and Telecommunications
6.2.3 Retail and e-commerce
6.2.4 Government
6.2.5 Energy and Utilities
6.2.6 Others
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Invoice 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 Invoice 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 Invoice Automation Software Analysis and Forecast
9.1 Introduction
9.2 North America Invoice Automation Software 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 Invoice Automation Software Market Size Forecast by Type
9.6.1 Cloud Based
9.6.2 On-Premise
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 Invoice Automation Software Market Size Forecast by Applications
9.10.1 BFSI
9.10.2 IT and Telecommunications
9.10.3 Retail and e-commerce
9.10.4 Government
9.10.5 Energy and Utilities
9.10.6 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 Invoice Automation Software Analysis and Forecast
10.1 Introduction
10.2 Europe Invoice Automation Software 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 Invoice Automation Software Market Size Forecast by Type
10.6.1 Cloud Based
10.6.2 On-Premise
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 Invoice Automation Software Market Size Forecast by Applications
10.10.1 BFSI
10.10.2 IT and Telecommunications
10.10.3 Retail and e-commerce
10.10.4 Government
10.10.5 Energy and Utilities
10.10.6 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 Invoice Automation Software Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Invoice Automation Software 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 Invoice Automation Software Market Size Forecast by Type
11.6.1 Cloud Based
11.6.2 On-Premise
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 Invoice Automation Software Market Size Forecast by Applications
11.10.1 BFSI
11.10.2 IT and Telecommunications
11.10.3 Retail and e-commerce
11.10.4 Government
11.10.5 Energy and Utilities
11.10.6 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 Invoice Automation Software Analysis and Forecast
12.1 Introduction
12.2 Latin America Invoice Automation Software 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 Invoice Automation Software Market Size Forecast by Type
12.6.1 Cloud Based
12.6.2 On-Premise
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 Invoice Automation Software Market Size Forecast by Applications
12.10.1 BFSI
12.10.2 IT and Telecommunications
12.10.3 Retail and e-commerce
12.10.4 Government
12.10.5 Energy and Utilities
12.10.6 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) Invoice Automation Software Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Invoice Automation Software 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) Invoice Automation Software Market Size Forecast by Type
13.6.1 Cloud Based
13.6.2 On-Premise
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) Invoice Automation Software Market Size Forecast by Applications
13.10.1 BFSI
13.10.2 IT and Telecommunications
13.10.3 Retail and e-commerce
13.10.4 Government
13.10.5 Energy and Utilities
13.10.6 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 Invoice Automation Software Market: Competitive Dashboard
14.2 Global Invoice Automation Software Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 SAP
14.3.2 AvidXchange
14.3.3 Bill.com
14.3.4 ServiceChannel
14.3.5 Chrome River
14.3.6 Coupa
14.3.7 FreshBooks
14.3.8 WorkflowMax
14.3.9 Zoho
14.3.10 QuickBooks
14.3.11 Xero
