The Asia-Pacific account payable automation market is anticipated to grow at a CAGR of 9.2% during the forecast period. The factors driving the growth of the Asia-Pacific account payable automation market include business processes involved in decreasing manual error along with eliminating paper process through adopting a payable process that is automated and significant presence of several key players of accounts payable Automation market. These players are making a considerable contribution to the high market share of the region by adopting several growth strategies such as new initiatives, mergers & acquisitions, partnerships, and collaboration among others.
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For instance, in October 2020, one of the global AI-based process automation solution provider companies named Esker had introduced its solution for cash application that will support increasing the effectiveness and efficiency along with automation of cash application process to match the open invoices for receiving the payments. Through this automation, it supports the process to enhance the speed along with accuracy. Additionally, End-to-end cash application automation provides a full solution to automate the cash allocation process step by step. It also matches that the payment is allocated automatically to its customer and invoices along with monitoring it.
Market Coverage
- The market number available for – 2020-2027
- Base year- 2020
- Forecast period- 2021-2027
- Segment Covered-
- By Organization Size
- By Deployment Type
- By Vertical
- Competitive Landscape- Bottomline Technologies, Inc., Coupa Software Inc., Esker, Lexmark International, Inc., SAP Ariba
Key questions addressed by the report
- What is the market growth rate?
- Which segment and region dominate the market in the base year?
- Which segment and region will project the fastest growth in the market?
- How COVID-19 impacted the market?
- Deviation from the pre-COVID-19 forecast
- Most affected region and segment
- Who is the leader in the market?
- How are players addressing challenges to sustain growth?
- Where is the investment opportunity?
Asia-Pacific Account Payable Automation Market
By Organization Size
- Large Enterprises
- Small and Medium-Sized Enterprises (SMEs)
By Deployment Type
- On-Premises
- Cloud
By Vertical
- Banking, Financial Services, and Insurance (BFSI)
- Consumer Goods and Retail
- Information Technology (IT) and Telecom
- Healthcare
- Other
A full report of Asia-Pacific Account Payable Automation Market is available at: https://www.omrglobal.com/industry-reports/asia-pacific-account-payable-automation-market
