North America Accounts Receivable Automation Market Size, Share & Industry Trends Analysis Report By Vertical, By Deployment Type (On-premise and Cloud), By Organization Size (Large Enterprises and Small & Medium Enterprises), By Country and Growth Forecast, 2022 - 2028
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Market Report Description
The North America Accounts Receivable Automation Market would witness market growth of 12.5% CAGR during the forecast period (2022-2028).
Accounts receivable automation aids in the timely delivery of invoices to clients and customers, minimizing the time it takes to send invoices and receive payments. The account receivable automation generates e-invoices that consumers may access and pay for directly by clicking on a link. This cuts down on payment processing time and saves time while auditing accounts. It also aids businesses in speeding up invoicing and managing transactions for a better client experience, giving them a competitive edge.
Traditional approaches, which are frequently time-consuming and difficult, are preferred by many firms. Enterprises are cautious to invest in the adoption of accounts receivable automation systems for a variety of reasons, including data security concerns, financial limits, and opposition to changing well-established old accounts receivable processes.
The regional countries' healthcare sectors are well-established, and new technologies are expected to be introduced in the coming years. The National Health Expenditure Accounts are the official estimates of entire healthcare spending in the United States, according to the Centers for Medicare & Medicaid Services. The NHEA, which was established in 1960, keeps track of annual spending on healthcare services and goods, public health activities, government administration, the net cost of health insurance, as well as healthcare investment in the United States.
The US market dominated the North America Accounts Receivable Automation Market by Country 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $1,691.6 million by 2028. The Canada market would showcase a CAGR of 15.1% during (2022 - 2028). Additionally, The Mexico market would experience a CAGR of 14.1% 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 U.S., Mexico, Canada, and Rest of North America.
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:
- Energy & Utilities
- Telecom & IT
- Retail & Consumer Goods
- Healthcare & Life Sciences
By Deployment Type
By Organization Size
- Large Enterprises
- Small & Medium Enterprises
- Rest of North America
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.
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