The Asia Pacific Accounts Receivable Automation Market is expected to witness market growth of 13.7% CAGR during the forecast period (2022-2028).
Vendors of accounts receivable automation solutions invest in artificial intelligence in order to help finance and accounting professionals improve their financial efficiency. By giving deeper insights into the business process, AI and ML can help finance-related operations run more smoothly. Companies can, for example, use AI to examine every business process and discover areas where improvements can be made to increase value. It can also assist in deciphering client behavior and payment trends in order to spot any potential payment concerns.
The purpose of Accounts Receivable Automation is to make the process of issuing and distributing invoices as simple as possible. The solution is made feasible by combining the distributor's finance systems along with a business network, enabling the company to send invoices electronically, by email, or via regular mail with a single click. Even though not all of the customers have the same digital skills, as a supplier, one can fully digitalize all processing and distribution. On the company's end, one can issue and handle all bills in the same way, using a dedicated finance system. The service provider saves and attends to the customer's requests, whether it's to get a PDF, an e-invoice, or other image files via email, or even a paper invoice by mail.
India and China's manufacturing industries are exceptionally robust, accounting for a significant portion of each country's GDP. The Indian manufacturing industry generated 16-17% of the country's GDP in 2018 and is anticipated to be one of the fastest-growing sectors, as per the International Trade Administration. The industrial equipment sector in India was essentially the manufacturing industry's foundation. Technology has encouraged creativity in recent years, with digital transformation playing a vital component in creating a competitive edge in this highly competitive industry. In the manufacturing sector, India has always prioritized domestic output and consumption.
The China market dominated the Asia Pacific Accounts Receivable Automation Market by Country 2021, and is expected to continue to be a dominant market till 2028; thereby, achieving a market value of $524 million by 2028. The Japan market is expected to exhibit a CAGR of 13% during (2022-2028). Additionally, The India market is expected to witness a CAGR of 14.4% during (2022-2028).
Based on Vertical, the market is segmented into BFSI, Energy & Utilities, Manufacturing, Telecom & IT, Retail & Consumer Goods, Healthcare & Life Sciences, and Others. Based on Deployment Type, the market is segmented into On-premise and Cloud. Based on Organization Size, the market is segmented into Large Enterprises and Small & Medium Enterprises. Based on countries, the market is segmented into China, Japan, India, South Korea, Singapore, Malaysia, and Rest of Asia Pacific.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Oracle Corporation, SAP SE, Comarch S.A., Zoho Corporation Pvt. Ltd., Workday, Inc., The Sage Group PLC, BlackLine, Inc., HighRadius Corporation, Esker, S.A., Bottomline Technologies, Inc.
By Component
Vendors of accounts receivable automation solutions invest in artificial intelligence in order to help finance and accounting professionals improve their financial efficiency. By giving deeper insights into the business process, AI and ML can help finance-related operations run more smoothly. Companies can, for example, use AI to examine every business process and discover areas where improvements can be made to increase value. It can also assist in deciphering client behavior and payment trends in order to spot any potential payment concerns.
The purpose of Accounts Receivable Automation is to make the process of issuing and distributing invoices as simple as possible. The solution is made feasible by combining the distributor's finance systems along with a business network, enabling the company to send invoices electronically, by email, or via regular mail with a single click. Even though not all of the customers have the same digital skills, as a supplier, one can fully digitalize all processing and distribution. On the company's end, one can issue and handle all bills in the same way, using a dedicated finance system. The service provider saves and attends to the customer's requests, whether it's to get a PDF, an e-invoice, or other image files via email, or even a paper invoice by mail.
India and China's manufacturing industries are exceptionally robust, accounting for a significant portion of each country's GDP. The Indian manufacturing industry generated 16-17% of the country's GDP in 2018 and is anticipated to be one of the fastest-growing sectors, as per the International Trade Administration. The industrial equipment sector in India was essentially the manufacturing industry's foundation. Technology has encouraged creativity in recent years, with digital transformation playing a vital component in creating a competitive edge in this highly competitive industry. In the manufacturing sector, India has always prioritized domestic output and consumption.
The China market dominated the Asia Pacific Accounts Receivable Automation Market by Country 2021, and is expected to continue to be a dominant market till 2028; thereby, achieving a market value of $524 million by 2028. The Japan market is expected to exhibit a CAGR of 13% during (2022-2028). Additionally, The India market is expected to witness a CAGR of 14.4% during (2022-2028).
Based on Vertical, the market is segmented into BFSI, Energy & Utilities, Manufacturing, Telecom & IT, Retail & Consumer Goods, Healthcare & Life Sciences, and Others. Based on Deployment Type, the market is segmented into On-premise and Cloud. Based on Organization Size, the market is segmented into Large Enterprises and Small & Medium Enterprises. Based on countries, the market is segmented into China, Japan, India, South Korea, Singapore, Malaysia, and Rest of Asia Pacific.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Oracle Corporation, SAP SE, Comarch S.A., Zoho Corporation Pvt. Ltd., Workday, Inc., The Sage Group PLC, BlackLine, Inc., HighRadius Corporation, Esker, S.A., Bottomline Technologies, Inc.
Scope of the Study
Market Segments Covered in the Report:
By Component
- Solution
- Services
- Professional
- Managed
- BFSI
- Energy & Utilities
- Manufacturing
- Telecom & IT
- Retail & Consumer Goods
- Healthcare & Life Sciences
- Others
- On-premise
- Cloud
- Large Enterprises
- Small & Medium Enterprises
- China
- Japan
- India
- South Korea
- Singapore
- Malaysia
- Rest of Asia Pacific
Key Market Players
List of Companies Profiled in the Report:
- Oracle Corporation
- SAP SE
- Comarch S.A.
- Zoho Corporation Pvt. Ltd.
- Workday, Inc.
- The Sage Group PLC
- BlackLine, Inc.
- HighRadius Corporation
- Esker, S.A.
- Bottomline Technologies, Inc.
Unique Offerings from the Publisher
- Exhaustive coverage
- The highest number of market tables and figures
- Subscription-based model available
- Guaranteed best price
- Assured post sales research support with 10% customization free
Table of Contents
Chapter 1. Market Scope & Methodology
Chapter 2. Market Overview
Chapter 3. Competition Analysis - Global
Chapter 4. Asia Pacific Accounts Receivable Automation Market by Component
Chapter 5. Asia Pacific Accounts Receivable Automation Market by End-User
Chapter 6. Asia Pacific Accounts Receivable Automation Market by Deployment Type
Chapter 7. Asia Pacific Accounts Receivable Automation Market by Organization Size
Chapter 8. Asia Pacific Accounts Receivable Automation Market by Country
Chapter 9. Company Profiles
Companies Mentioned
- Oracle Corporation
- SAP SE
- Comarch S.A.
- Zoho Corporation Pvt. Ltd.
- Workday, Inc.
- The Sage Group PLC
- BlackLine, Inc.
- HighRadius Corporation
- Esker, S.A.
- Bottomline Technologies, Inc.
Methodology
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