Global Accounts Receivable Software Market Size By Type (Cloud-Based, On-Premises), By Application (Small Business, Medium Business), By Geographic Scope And Forecast

Accounts Receivable Software Market Size And Forecast

Accounts Receivable Software Market size was valued at USD 4.04 Billion in 2024 and is projected to reach USD 6.32 Billion by 2031, growing at a CAGR of 15.2% during the forecast period 2024-2031.

The adoption of automation in the workflow process by SMEs is expected to drive the growth of the market. The Global Accounts Receivable Software Market report provides a holistic evaluation of the market. The report offers a comprehensive analysis of key segments, trends, drivers, restraints, competitive landscape, and factors that are playing a substantial role in the market.

Global Accounts Receivable Software Market Definition

Accounts Receivable Software Market is a cost-effective software solution designed by receivable professionals for receivable professionals to achieve the Credit & Accounts Receivable objectives. Billing cycles are shortened when all charges are entered in a timely manner so invoices can be generated on a regular schedule or as needed to meet the expectations of your customers. Accounts receivable automation can be defined as the software used to automate the process of account receivable functions. Accounts receivable are generally the current assets of the company which generates revenue after competition of the credit cycle.

Traditionally, accounts receivable were handled manually; but the need for accounts receivable automation has increased with the adoption of accounting software by organizations. Accounts receivable automation starts functioning after capturing the accounts receivable invoice from the ERP/core account application. Some of the major functions of accounts receivable automation include reporting, monitoring, communication, and e-mail invoices. Accounts receivable automation accelerates the cash flow, reduces the average day sales outstanding, reduces labor cost, streamlines the invoice management system, and improves the overall customer relationship.

Global Accounts Receivable Software Market Overview

Extensive adoption of smart technologies, digitization, and automation by large as well as small & medium enterprises is the global trend. Overall, 90%-95% of total enterprises are small & medium in size while only 5%-10% are large in nature. The majority of SMEs within the U.S have integrated or are looking forward to integrating their workflow with automation to gain operational efficiency. Thus, the adoption of accounting software such as reconciliation software and accounts receivable automation has increased globally. The adoption of automation in the workflow process by SMEs is expected to drive the growth of the market.

Organizations are increasingly striving to reduce operational costs to survive in this competitive environment. Financial institutions, retail enterprises, & many other industries are eliminating manual operational work & shifting to the workflow on software. Accounts receivable automation eliminates manual work and reduces labor costs. Labor cost is one of the components which need to be paid by organizations. This cost can be optimized through accounts receivable automation. Accounts receivable automation software models that rely heavily on cloud services are data leakage, susceptible to service impairment or control loss, service loss including service interruption, or in worse cases monetary loss.

The user experience may also be affected by unstable network transmissions in some places and this limits the reach of cloud-based services including cloud-based and hybrid services/solutions in the impacted regions. It’s the business function that deals with collecting and tracking all the money your company is owed. Any product or service for which you invoice a client would match our accounts receivable definition. This function sounds simple, but don’t underestimate it; accounts receivable offers ample opportunities for improved performance & enhanced cash flow.

Global Accounts Receivable Software Market Segmentation Analysis

The Global Accounts Receivable Software Market is Segmented on the basis of Type, Application, and Geography.

Accounts Receivable Software Market, By Type

• Cloud-Based
• On-Premises

Based on Type, the market is bifurcated into Cloud-Based and On-Premises. Accounts receivable automation software models that rely heavily on cloud services are susceptible to service impairment or control loss, data leakage, service loss including service interruption, or in worse cases monetary loss. The user experience may also be affected by unstable network transmissions at some places and this limits the reach of cloud-based services including cloud-based and hybrid services/solutions in the impacted regions.

Accounts Receivable Software Market, By Application

• Small Business
• Medium Business
• Large Enterprises

Based on Application, the market is segmented into Small Business, Medium Business, and Large Enterprises. Extensive adoption of digitization, smart technologies, and automation by large as well as small & medium enterprises is the global trend. Overall, 90%-95% of total enterprises are small & medium in size while only 5%-10% are large in nature. The majority of SMEs within the U.S have integrated or are looking forward to integrating their workflow with automation to gain operational efficiency.

Accounts Receivable Software Market, By Geography

• North America
• Europe
• Asia Pacific
• Rest of the world

On the basis of Geography, the Global Accounts Receivable Software Market is classified into North America, Europe, Asia Pacific, and the Rest of the world. In terms of region, the Global Accounts Receivable Software Market can be divided into North America, Europe, Asia Pacific, South America, and Middle East & Africa. North America is expected to dominate the Accounts Receivable Software Market during the forecast period, as the adoption of accounting software within this region to manage operational work in SMEs is high compared to other regions.

Key Players

The “Global Accounts Receivable Software Market” study report will provide valuable insight with an emphasis on the global market. The major players in the market are Araize, PaidYET, SlickPie, Micronetics, WorkflowAR, Funding Gates, AccountMate Software, GoDaddy, ClickNotices, Armatic, HansaWorld.

Our market analysis also entails a section solely dedicated to such major players wherein our analysts provide insight to the financial statements of all the major players, along with product benchmarking and SWOT analysis. The competitive landscape section also includes key development strategies, market share, and market ranking analysis of the above-mentioned players globally.

Report Scope

Research Methodology of Market Research

To know more about the Research Methodology and other aspects of the research study, kindly get in touch with our .

Reasons to Purchase this Report

• Qualitative and quantitative analysis of the market based on segmentation involving both economic as well as non-economic factors• Provision of market value (USD Billion) data for each segment and sub-segment• Indicates the region and segment that is expected to witness the fastest growth as well as to dominate the market• Analysis by geography highlighting the consumption of the product/service in the region as well as indicating the factors that are affecting the market within each region• Competitive landscape which incorporates the market ranking of the major players, along with new service/product launches, partnerships, business expansions and acquisitions in the past five years of companies profiled• Extensive company profiles comprising of company overview, company insights, product benchmarking and SWOT analysis for the major market players• The current as well as the future market outlook of the industry with respect to recent developments (which involve growth opportunities and drivers as well as challenges and restraints of both emerging as well as developed regions• Includes an in-depth analysis of the market of various perspectives through Porter’s five forces analysis• Provides insight into the market through Value Chain• Market dynamics scenario, along with growth opportunities of the market in the years to come• 6-month post-sales analyst support

Customization of the Report

• In case of any please connect with our sales team, who will ensure that your requirements are met.