Accounts Receivable Automation Market Report 2025

The accounts receivable automation market size has grown rapidly in recent years. It will grow from $3.52 billion in 2024 to $4.03 billion in 2025 at a compound annual growth rate (CAGR) of 14.3%. The growth in the historic period can be attributed to manual process inefficiencies, growing volume of transactions, error reduction and accuracy, cost reduction initiatives, demand for faster processing.

The accounts receivable automation market size is expected to see rapid growth in the next few years. It will grow to $7.22 billion in 2029 at a compound annual growth rate (CAGR) of 15.7%. The growth in the forecast period can be attributed to continued digital transformation, remote workforce evolution, increasing focus on cash flow optimization, demand for scalability and flexibility, and a customer-centric approach. Major trends in the forecast period include market competition and innovation, collaboration with suppliers/vendors, sustainability and paperless processes, focus on cybersecurity.

The growing adoption of automation and digitization among SMEs (small and medium-sized enterprises) is anticipated to boost the growth of the accounts receivable automation market. Digitalization and automation tools help SMEs reduce costs, standardize processes, and decrease their reliance on labor. This shift toward automation and digitization will further encourage SMEs to adopt accounts receivable automation solutions. For instance, in February 2024, a report from the UK’s Department for Science and Technology indicated that the digital sector contributed £158.3 billion ($206.66 billion) to the UK economy in 2022, representing 7.2% of the total UK Gross Value Added (GVA), up from 7.1% in 2021. Thus, the increasing adoption of automation and digitization by SMEs is set to drive growth in the accounts receivable automation market.

The upsurge in internet penetration is forecasted to propel the advancement of the accounts receivable automation market. Internet penetration, a global network connecting the world wide web and billions of computers worldwide, facilitates accounts receivable automation providers to access various facets of the payment processes, such as documentation and invoices, across the globe using any device, eliminating the need for manual intervention. For instance, as of October 2022, DataReportal reported that approximately 5.07 billion individuals, equivalent to 63.5% of the global population, are internet users worldwide. Moreover, according to Livemint in July 2022, India registered a total of 692 million active internet users, with 351 million from rural areas and 341 million from urban areas. Hence, the burgeoning internet penetration is a catalyst driving the growth of the accounts receivable automation market during the projected period.

The adoption of technological advancements emerges as a significant trend gaining traction within the accounts receivable automation market. Key market players are introducing novel technologies to gain a competitive advantage. For example, in February 2022, Quadient, a Europe-based company specializing in business process automation and customer experience management, launched an accounts payable (AP) automation solution. This solution offers a more secure and simplified method to approve invoices and execute vendor payments from any location, highlighting the ongoing commitment of major market entities to leverage innovative technologies to enhance their position in the marketplace.

Major companies in the accounts receivable automation market are concentrating on technological advancements, such as collections management apps, to boost efficiency, enhance cash flow, and streamline the invoicing process. These innovations ultimately enable businesses to reduce outstanding debts and optimize their financial operations. Collections management apps are software solutions designed to automate and simplify the accounts receivable process, aiding businesses in managing outstanding debts and improving cash flow. For example, in March 2024, Celonis SE, a U.S.-based Software as a Service company, launched the Sailfin Accounts Receivable App Suite. This app centralizes collections efforts and provides tools for team management, KPI tracking, and intelligent prioritization of customer accounts. It allows finance executives to monitor performance against targets in real time.

In April 2022, Versapay, a Canada-based financial technology company focused on accounts receivable automation and payment solutions, acquired Dade Systems, LLP, for an undisclosed amount. This acquisition is intended to enhance Versapay's capabilities in accounts receivable automation by leveraging advanced AI and machine learning technologies. It will also help the company expand its market reach, accelerate digital transformation, and drive significant revenue growth. Dade Systems, LLP, a U.S.-based software company, specializes in accounts receivable automation and cash application solutions, assisting businesses in streamlining their payment processes.

Major companies operating in the accounts receivable automation market are BlackLine Inc., Bottomline Technologies Inc., Comarch SA, Esker SA, HighRadius Corporation, SAP SE, Oracle Corporation, Kofax Inc., YayPay Inc., SK Global Software LLC, FinancialForce Inc., The Sage Group PLC, VersaPay Corporation, Bill.com Holdings Inc., Corcentric LLC, MHC Software Inc., Qvalia AB, Anytime Collect, Neopost SA, Workday Inc., Coupa Software Inc., Fidelity National Information Services Inc., Zoho Corporation, Fiserv Inc., Invoiced Inc., MineralTree Inc., Nvoicepay Inc., Rimilia Holdings Ltd., Serrala Group, Tesorio Inc., Tradeshift Inc.

North America was the largest region in the accounts receivable automation market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the accounts receivable automation market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the accounts receivable automation market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

Accounts receivable automation involves the automation of time-consuming and repetitive tasks related to managing accounts receivable, thereby helping businesses streamline client invoicing and payment processes.

The main components of accounts receivable automation include solutions and services. Solutions in accounts receivable automation involve the automation of crucial financial processes. This includes tasks such as account reconciliation, updating financial data, and preparing financial statements without the need for direct human intervention. Solutions typically consist of a set of software modules that collaboratively create a cross-functional system for a company. The deployment modes for accounts receivable automation encompass both cloud-based and on-premises solutions, catering to the needs of both large enterprises and small to medium-sized enterprises (SMEs). The end-users of accounts receivable automation span various industries, including Banking, Financial Services, and Insurance (BFSI), retail and consumer goods, healthcare, information technology and telecommunications, manufacturing, energy and utilities, and other verticals.

The accounts receivable automation market research report is one of a series of new reports that provides accounts receivable automation market statistics, including accounts receivable automation industry global market size, regional shares, competitors with a accounts receivable automation market share, detailed accounts receivable automation market segments, market trends and opportunities, and any further data you may need to thrive in the accounts receivable automation industry. This accounts receivable automation market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The accounts receivable automation market consists of revenues earned by entities by providing invoice processing, tracking customer payments, and ensuring the collection of payments. The market value includes the value of related goods sold by the service provider or included within the service offering. The accounts receivable automation market also includes sales of solutions such as cash automation applications and business credit management. Values in this market are ‘factory gate’ values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

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