Product Code: SR112025A5084
The global accounts receivable automation market size was valued at USD 2.8 Billion in 2024. Looking forward, IMARC Group estimates the market to reach USD 6.4 Billion by 2033, exhibiting a CAGR of 9.7% during 2025-2033. North America currently dominates the market. An enhanced focus on service automation, the growing number of mergers and collaborations among the key players, the expanding usage of online banking apps, and the increasing acceptance among SMEs are some of the key factors stimulating the growth of the market.
Increasing Complexity of Medical Billing Facilitating Market Growth
The rising medical expenditure and the outbreak of healthcare emergencies represent one of the primary factors bolstering the AR automation market growth in the healthcare sector. Automation streamlines the generation and delivery of patient invoices for medical services rendered. It also automates the creation of itemized billing statements, including procedure codes, insurance information, and payment due dates, which ensures accurate and timely billing. In addition, it helps healthcare providers in managing insurance claims efficiently to reduce errors, accelerate claim processing, and improve reimbursement turnaround time. It also enhances cash flow management and financial performance. AR automation improves the patient billing and payment experience by providing accurate, transparent, and timely invoicing. It offers online payment options, simplifies the billing process, and reduces patient confusion or dissatisfaction.
What is Accounts Receivable Automation?
Accounts receivable (AR) automation refers to the use of technology and software solutions to streamline and optimize the process of managing and collecting payments from customers. It involves automating various tasks and workflows associated with accounts receivable, such as generating and sending invoices, tracking payments, managing customer accounts, and following up on overdue payments. It is integrated with existing accounting and customer relationship management (CRM) systems. These tools leverage technologies, such as artificial intelligence (AI), machine learning (ML), and robotic process automation (RPA), to improve efficiency and accuracy in managing accounts receivable processes. AR automation assists in increasing efficiency, reducing manual errors, fostering payment processing, improving cash flow management, enhancing customer satisfaction through timely and accurate communications, and improving visibility into accounts receivable performance.
Accounts Receivable Automation Market Trends:
The increasing use of AR automation in small and medium enterprises (SMEs) to streamline and speed up accounts receivable processes, reduce manual effort, and enable staff to focus on higher value tasks represents one of the major factors strengthening the accounts reveivable automation market growth around the world. Moreover, there is a rise in the adoption of AR automation in the banking, financial services and insurance (BFSI) sector to automate the creation, customization, and distribution of invoices to clients and minimize errors in billing and invoicing processes. It is also integrated with payment gateways that allows automated processing of payments from clients. This, coupled with the growing usage of online banking applications and websites on account of a considerable reliance on smartphones and increasing penetration of high speed internet connection, is influencing the market positively. In addition, the rising need for AR automation in the retail sector to assist retailers in managing collection processes effectively and computerizing the delivery of payment reminders to customers for overdue invoices that helps accelerate the collection of outstanding payments, is favoring the growth of the market. Apart from this, leading players are focusing on joint ventures, mergers and acquisitions (M&A), and collaborations to offer improved services to customers. Furthermore, there is an increase in the integration of optical character recognition (OCR), data analytics, cloud computing, and application programming interface (API) in AR automation to convert printed or handwritten text from documents like invoices into machine readable data. These advanced technologies also aid in generating reports and providing actionable insights. This, along with the advent of mobile applications that enable communication with customers on-the-go and offer convenience for remote teams, is creating a positive outlook for the market.
Key Market Segmentation:
Component Insights:
- Solution
- Services
- As per the accounts receivable automation market report, services are provided by specialized companies with expertise in financial processes and technology. They offer dedicated support, ensuring smooth implementation and ongoing assistance for optimal results. They are scalable and can accommodate the needs of organizations of different sizes. They include regular updates and maintenance, ensuring that the system remains up to date with the latest technologies and regulatory changes.
Deployment Insights:
- On-premises
- Cloud-based
- As per the accounts receivable automation market analysis, on-premises deployment of AR automation offers greater flexibility in customization and integration with existing systems. They provide faster processing times and reduced latency compared to cloud-based solutions. They allow individuals to keep the data within the infrastructure, which reduces the risk of data breaches or unauthorized access.
- On the other hand, the cloud-based deployment of AR automation provides scalability to accommodate fluctuating transaction volumes. It enables access to accounts receivable data and processes from anywhere with an internet connection. It involves lower upfront costs as it eliminates the need for substantial hardware investments and infrastructure maintenance. It also reduces the expenses associated with maintaining and upgrading software, as these tasks are handled by the service provider. It offers extensive integration capabilities, which enable seamless connectivity with other business systems, such as enterprise resource planning (ERP) software, customer relationship management (CRM) platforms, and payment gateways.
Organization Size Insights:
- Large Enterprises
- Small and Medium-sized Enterprises
- Large enterprises are using AR automation to streamline and automate various accounts receivable processes, such as invoice generation, payment reconciliation, and collections. AR automation also aids in eliminating manual tasks and reducing paperwork, improving efficiency, and reducing processing time. Large enterprises can access comprehensive dashboards and reports that offer insights into key metrics, aging analysis, and customer behavior to enable proactive decision-making, improved forecasting, and better management of credit and collections strategies.
- On the other hand, small and medium-sized enterprises are adopting the use of AR automation for reallocating resources to more critical activities, including strategic planning and business growth initiatives and optimizing limited resources, and enhancing productivity.
Vertical Insights:
- Consumer Goods and Retail
- BFSI
- Manufacturing
- IT and Telecom
- Healthcare
- Energy and Utilities
- Others
- The rising need for AR automation in the manufacturing industry to improve cash flow, which allows manufacturers to maintain financial stability and make timely business decisions. It enhances the customer experience by providing self-service portals, online payment options, and automated reminders for overdue payments.
- According to the accounts receivable automation market report, the demand for AR automation in IT and telecom industry is increasing due to the growing complexity in the business. It facilitates self-service portals, online payment options, and automated notifications for billing and payment updates.
- Other vertical for accounts receivable automation include consumer goods and retail, healthcare, energy and utilizes, and others to ensure compliance with revenue recognition standards by automating revenue allocation, tracking contract milestones, and generating accurate revenue reports.
Regional Insights:
- North America
- United States
- Canada
- Asia-Pacific
- China
- Japan
- India
- South Korea
- Australia
- Indonesia
- Others
- Europe
- Germany
- France
- United Kingdom
- Italy
- Spain
- Russia
- Others
- Latin America
- Brazil
- Mexico
- Others
- Middle East and Africa
- The report has also provided a comprehensive analysis of all the major regional markets, which include North America (the United States and Canada); Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others); Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others); Latin America (Brazil, Mexico, and others); and the Middle East and Africa. According to the report, North America (the United States and Canada) was the largest market for accounts receivable automation. The increasing adoption of AR automation in different industry verticals and the rising focus on the improvement of cash flow and reduction in days sales outstanding (DSO) represents one of the major factors strengthening the market growth in the North American region. Moreover, the growing use of AR automation solutions to simplify the processing of bills and receipts is influencing the market positively in the region. Besides this, the increasing demand for cloud-based AR automation solutions is favoring the market growth in the region.
Competitive Landscape:
The report has also provided a comprehensive analysis of the competitive landscape in the global accounts receivable automation market. Some of the companies covered include:
- 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)
- Zoho Corporation Private Ltd.
- Kindly note that this only represents a partial list of companies, and the complete list has been provided in the report.
Key Questions Answered in This Report
- 1.How big is the global accounts receivable automation market?
- 2.What is the future outlook of the accounts receivable automation market?
- 3.What are the key factors driving the accounts receivable automation market?
- 4.Which region accounts for the largest accounts receivable automation market share?
- 5.Which are the leading companies in the global accounts receivable automation market?
Table of Contents
1 Preface
2 Scope and Methodology
- 2.1 Objectives of the Study
- 2.2 Stakeholders
- 2.3 Data Sources
- 2.3.1 Primary Sources
- 2.3.2 Secondary Sources
- 2.4 Market Estimation
- 2.4.1 Bottom-Up Approach
- 2.4.2 Top-Down Approach
- 2.5 Forecasting Methodology
3 Executive Summary
4 Introduction
- 4.1 Overview
- 4.2 Key Industry Trends
5 Global Accounts Receivable Automation Market
- 5.1 Market Overview
- 5.2 Market Performance
- 5.3 Impact of COVID-19
- 5.4 Market Forecast
6 Market Breakup by Component
- 6.1 Solution
- 6.1.1 Market Trends
- 6.1.2 Market Forecast
- 6.2 Services
- 6.2.1 Market Trends
- 6.2.2 Market Forecast
7 Market Breakup by Deployment
- 7.1 On-premises
- 7.1.1 Market Trends
- 7.1.2 Market Forecast
- 7.2 Cloud-based
- 7.2.1 Market Trends
- 7.2.2 Market Forecast
8 Market Breakup by Organization Size
- 8.1 Large Enterprises
- 8.1.1 Market Trends
- 8.1.2 Market Forecast
- 8.2 Small and Medium-sized Enterprises
- 8.2.1 Market Trends
- 8.2.2 Market Forecast
9 Market Breakup by Vertical
- 9.1 Consumer Goods and Retail
- 9.1.1 Market Trends
- 9.1.2 Market Forecast
- 9.2 BFSI
- 9.2.1 Market Trends
- 9.2.2 Market Forecast
- 9.3 Manufacturing
- 9.3.1 Market Trends
- 9.3.2 Market Forecast
- 9.4 IT and Telecom
- 9.4.1 Market Trends
- 9.4.2 Market Forecast
- 9.5 Healthcare
- 9.5.1 Market Trends
- 9.5.2 Market Forecast
- 9.6 Energy and Utilities
- 9.6.1 Market Trends
- 9.6.2 Market Forecast
- 9.7 Others
- 9.7.1 Market Trends
- 9.7.2 Market Forecast
10 Market Breakup by Region
- 10.1 North America
- 10.1.1 United States
- 10.1.1.1 Market Trends
- 10.1.1.2 Market Forecast
- 10.1.2 Canada
- 10.1.2.1 Market Trends
- 10.1.2.2 Market Forecast
- 10.2 Asia-Pacific
- 10.2.1 China
- 10.2.1.1 Market Trends
- 10.2.1.2 Market Forecast
- 10.2.2 Japan
- 10.2.2.1 Market Trends
- 10.2.2.2 Market Forecast
- 10.2.3 India
- 10.2.3.1 Market Trends
- 10.2.3.2 Market Forecast
- 10.2.4 South Korea
- 10.2.4.1 Market Trends
- 10.2.4.2 Market Forecast
- 10.2.5 Australia
- 10.2.5.1 Market Trends
- 10.2.5.2 Market Forecast
- 10.2.6 Indonesia
- 10.2.6.1 Market Trends
- 10.2.6.2 Market Forecast
- 10.2.7 Others
- 10.2.7.1 Market Trends
- 10.2.7.2 Market Forecast
- 10.3 Europe
- 10.3.1 Germany
- 10.3.1.1 Market Trends
- 10.3.1.2 Market Forecast
- 10.3.2 France
- 10.3.2.1 Market Trends
- 10.3.2.2 Market Forecast
- 10.3.3 United Kingdom
- 10.3.3.1 Market Trends
- 10.3.3.2 Market Forecast
- 10.3.4 Italy
- 10.3.4.1 Market Trends
- 10.3.4.2 Market Forecast
- 10.3.5 Spain
- 10.3.5.1 Market Trends
- 10.3.5.2 Market Forecast
- 10.3.6 Russia
- 10.3.6.1 Market Trends
- 10.3.6.2 Market Forecast
- 10.3.7 Others
- 10.3.7.1 Market Trends
- 10.3.7.2 Market Forecast
- 10.4 Latin America
- 10.4.1 Brazil
- 10.4.1.1 Market Trends
- 10.4.1.2 Market Forecast
- 10.4.2 Mexico
- 10.4.2.1 Market Trends
- 10.4.2.2 Market Forecast
- 10.4.3 Others
- 10.4.3.1 Market Trends
- 10.4.3.2 Market Forecast
- 10.5 Middle East and Africa
- 10.5.1 Market Trends
- 10.5.2 Market Breakup by Country
- 10.5.3 Market Forecast
11 SWOT Analysis
- 11.1 Overview
- 11.2 Strengths
- 11.3 Weaknesses
- 11.4 Opportunities
- 11.5 Threats
12 Value Chain Analysis
13 Porters Five Forces Analysis
- 13.1 Overview
- 13.2 Bargaining Power of Buyers
- 13.3 Bargaining Power of Suppliers
- 13.4 Degree of Competition
- 13.5 Threat of New Entrants
- 13.6 Threat of Substitutes
14 Price Analysis
15 Competitive Landscape
- 15.1 Market Structure
- 15.2 Key Players
- 15.3 Profiles of Key Players
- 15.3.1 BlackLine Inc.
- 15.3.1.1 Company Overview
- 15.3.1.2 Product Portfolio
- 15.3.1.3 Financials
- 15.3.2 Bottomline Technologies Inc.
- 15.3.2.1 Company Overview
- 15.3.2.2 Product Portfolio
- 15.3.2.3 Financials
- 15.3.2.4 SWOT Analysis
- 15.3.3 Comarch SA
- 15.3.3.1 Company Overview
- 15.3.3.2 Product Portfolio
- 15.3.3.3 Financials
- 15.3.4 Esker SA
- 15.3.4.1 Company Overview
- 15.3.4.2 Product Portfolio
- 15.3.4.3 Financials
- 15.3.5 HighRadius Corporation
- 15.3.5.1 Company Overview
- 15.3.5.2 Product Portfolio
- 15.3.6 Invoiced Inc.
- 15.3.6.1 Company Overview
- 15.3.6.2 Product Portfolio
- 15.3.7 Oracle Corporation
- 15.3.7.1 Company Overview
- 15.3.7.2 Product Portfolio
- 15.3.7.3 Financials
- 15.3.7.4 SWOT Analysis
- 15.3.8 Sage Group plc
- 15.3.8.1 Company Overview
- 15.3.8.2 Product Portfolio
- 15.3.8.3 Financials
- 15.3.8.4 SWOT Analysis
- 15.3.9 SAP SE
- 15.3.9.1 Company Overview
- 15.3.9.2 Product Portfolio
- 15.3.9.3 Financials
- 15.3.9.4 SWOT Analysis
- 15.3.10 ScienceSoft USA Corporation
- 15.3.10.1 Company Overview
- 15.3.10.2 Product Portfolio
- 15.3.11 VersaPay Corporation
- 15.3.11.1 Company Overview
- 15.3.11.2 Product Portfolio
- 15.3.12 Yaypay Inc. (Quadient)
- 15.3.12.1 Company Overview
- 15.3.12.2 Product Portfolio
- 15.3.13 Zoho Corporation Private Ltd.
- 15.3.13.1 Company Overview
- 15.3.13.2 Product Portfolio