What Has Been the Historical Growth and What Are the Future Projections for the AP/AR Automation Market?
The AP/AR automation market size has shown robust growth in recent years, growing from $2.4 billion in 2024 to $2.61 billion in 2025, at a compound annual growth rate (CAGR) of 8.6%. This growth can be attributed to the desire to overcome inefficiencies in paper-based processes, complexities of invoice processing, goals for cost reduction, growing transaction volumes, the need for real-time visibility, and rising vendor and customer expectations. Also, data security concerns have contributed to the uptake of AP/AR automation.
The AP/AR automation market size is projected to see rapid growth in coming years, forecasted to reach $3.95 billion in 2029 at a CAGR of 11.0%. Advanced analytics for financial insights, mobile accessibility, enhanced user experience, integration with payment gateways, continuous compliance management, and improved accuracy in financial reporting are factors expected to drive the growth during this period. Major upcoming trends include end-to-end process automation, integration with ERP systems, advanced data extraction techniques, supplier collaboration portals, focus on fraud prevention, predictive analytics for cash flow optimization, automated payment processing, and real-time reporting and dashboards.
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What Are Driving Forces Behind the Growth of the AP/AR Automation Market?
The AP/AR automation market is poised to see significant growth driven by the increasing demand for automated and secured payable processes. Automated and secured payable processes reduce human involvement and eliminate risky tasks from the trade payables or accounts payable process. Automation minimizes data entry requirements, speeds up processes such as payments and invoice matching, and cuts down on costs including document storage and postage. According to a report from the Institute of Financial Operations & Leadership (IFOL), 9% of accounts payable (AP) departments were fully automated as of February 2023. This figure is expected to rise significantly, with two-thirds of finance professionals expecting their AP departments to be fully automated by 2025.
What Are the Main Segments in the AP/AR Automation Market?
The AP/AR automation market covered in this report is segmented –
1) By Component: Invoice Management, Electronic Purchase Order, E-Invoicing, Approval And Workflow, ERP Integration, Electronic Payment, Analysis And Reporting, Services
2) By Organization Type: Large, Small And Medium Enterprises (SMEs)
3) By End User: Banking, Financial Services And insurance (BFSI), Manufacturing, Energy And Utilities, Construction, Food And Beverages, Consumer Goods And Retail, IT Ad Telecom, Healthcare, Other End Users
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What Are the Dominant Companies in the AP/AR Automation Market?
Notable companies in the AP/AR automation market include AvidXchange Holdings Inc., Bill.com Holdings Inc., Bottomline Technologies Inc., Coupa Software Inc., FinancialForce Inc., 2ndSite Inc., Nvoicepay Inc., The Sage Group PLC, Oracle Corporation, SAP SE, Kofax Inc., YayPay Inc., SK Global Software LLC, Comarch SA, Paysimple Private Limited, Armatic Technologies Inc., Fidelity National Information Services Inc., Tipalti Inc., Zycus Inc., Esker Inc., HighRadius Corporation, Yooz Inc., MineralTree Inc., Versapay Corporation, Anybill Inc., Beanworks Solutions Inc., Corcentric LLC, Dooap Inc., Goby Inc., Medius AB, Stampli Inc., Tradeshift Inc., Workday Inc., Xero Limited, Zervant Oyj, and BlackLine Inc.
What Are the Major Trends in the AP/AR Automation Market?
Technological advancements play a crucial role in shaping the AP/AR automation market. Companies in the AP/AR market are innovating and investing in highly advanced and technological products to maintain a competitive edge. For instance, Financial Software & Systems (FSS), a global payment systems company based in India, launched Blaze in August 2023. Blaze is a revolutionary payments technology platform designed to cater to the requirements of financial organizations and banks, offering their clients unique and cutting-edge payment experiences.
Which Region Was the Largest In The AP/AR Automation Market?
Asia-Pacific was the largest region in the AP/AR automation market in 2024. The regions covered in the AP/AR automation market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
What Does The AP/AR Automation Market Report 2025 Offer?
AP/AR automation refers to a method for minimizing human involvement and eliminating risky tasks from the trade payables or accounts payables process by utilizing accounts payable software connected with a digital trading partner network. The AP/AR Automation Market research report from The Business Research Company offers global market size, growth rate, regional shares, competitor analysis, detailed segments, trends, and opportunities.
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