North America Accounts Payable Automation Market Size, Share & Industry Trends Analysis Report By Component (Solution and Services), By Deployment Mode (On-Premise and Cloud), By Organization Size, By Vertical, By Country and Growth Forecast, 2022 - 2028
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Market Report Description
The North America Accounts Payable Automation Market would witness market growth of 10.0% CAGR during the forecast period (2022-2028).
If AP rises over the previous period, the business uses credit rather than cash to purchase more products and services. A company's accounts payable (AP) will decline if it pays its commitments from the preceding quarter more quickly than acquiring new things on credit. Management of funds payable is essential for controlling a company's financial flow.
The top component of the cash flow statement, the cash flow from operational activities, shows the net change in AP from the preceding period when the indirect method is used to create the cash flow statement. Management may influence the company's cash flow via AP to a certain degree. For instance, control might lengthen the time it takes for the company to pay all outstanding AP accounts if they wish to boost cash reserves for a specific period. The business's continuous ties with its suppliers must be considered when evaluating this option to pay later. Paying invoices on time is usually a wise business decision.
The Office of Digital Services Industries (ODSI) promotes cross-border data flows that underpin international trade and economic growth for all U.S. companies, regardless of sector, and works to create the conditions necessary for U.S. information and communications technology companies to innovate and compete at home and abroad in line with ITA's goal to reduce, remove, or prevent trade barriers. To accomplish these objectives, ODSI works to address governmental actions and policies that restrict the export of American digital and internet services, lower the costs and challenges associated with exporting so that more American businesses can compete successfully abroad, and evaluate sectoral competitiveness issues and foreign direct investment in American digital and internet services industries.
The US market dominated the North America Accounts Payable Automation Market by Country in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $1,376.6 million by 2028. The Canada market is poised to grow at a CAGR of 12.2% during (2022 - 2028). Additionally, The Mexico market would witness a CAGR of 11.9% during (2022 - 2028).
Based on Component, the market is segmented into Solution and Services. Based on Deployment Mode, the market is segmented into On-Premise and Cloud. Based on Organization Size, the market is segmented into Large Enterprises and SMEs. Based on Vertical, the market is segmented into BFSI, IT & Telecom, Government, Manufacturing, Healthcare & Lifesciences, Consumer Goods & Retail and Others. Based on countries, the market is segmented into U.S., Mexico, Canada, and Rest of North America.
Free Valuable Insights: The Worldwide Accounts Payable Automation Market is Projected to reach USD 5.3 Billion by 2028, at a CAGR of 11.3%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include SAP SE, Fidelity National Information Services, Inc., The Sage Group PLC, Comarch SA, Tipalti, Inc., Bottomline Technologies, Inc., AvidXchange Holdings, Inc., Procurify Technologies, Inc., FinancialForce.com, Inc. and Zycus, Inc.
Scope of the Study
Market Segments Covered in the Report:
By Deployment Mode
By Organization Size
- Large Enterprises
- IT & Telecom
- Healthcare & Lifesciences
- Consumer Goods & Retail
- Rest of North America
Key Market Players
List of Companies Profiled in the Report:
- SAP SE
- Fidelity National Information Services, Inc.
- The Sage Group PLC
- Comarch SA
- Tipalti, Inc.
- Bottomline Technologies, Inc.
- AvidXchange Holdings, Inc.
- Procurify Technologies, Inc.
- FinancialForce.com, Inc.
- Zycus, Inc.
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