The global account payable automation market is growing at a considerable CAGR of 10.2% during the forecast period. Increasing demand to enhance payment process and controlling user access is one of the prime factors affecting and driving the market. Decreasing fraud transactions along with improving compliance rate among others are also estimated to be the key factor that is contributing significantly towards the growth of the market. However, certain factors are affecting the growth of the market. That includes security problems along with insufficient awareness regarding account payable automation is the major factors constraints that are hindering the growth of the global account payable automation market across the globe.

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The global account payable automation market is segmented based on organization size, deployment type, and vertical. Based on organization size, the market is segmented into large enterprises and small and medium-sized enterprises (SMEs). By deployment type, the market is segmented into on-premises and cloud. Further based on vertical the market is segmented into banking, financial services, and insurance (BFSI), consumer goods and retail, information technology (IT) and telecom, healthcare, and others.

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The global account payable automation market is analyzed based on the geographical regions that are contributing significantly towards the growth of the market. Based on the geography, the market is segmented into North America, Europe, Asia-Pacific, and the Rest of the World. North America held a considerable share in 2020 in the global account payable automation market. Some factors that are boosting the market growth in North America are raising invoicing systems that are automated. Additionally growing e-commerce trends along with organizations adopting the automated payable system to get better visibility and control are some of the other factors that are boosting the growth of the market.

Global Account Payable Automation Market – Segmentation
by Organization Size
Large Enterprises
Small and Medium-Sized Enterprises (SMEs)
by Deployment Type
On-Premises
Cloud
by Vertical
Banking, Financial Services, and Insurance (BFSI)
Consumer Goods and Retail
Information Technology (IT) and Telecommunication
Healthcare
Other

Global Account Payable Automation Market – Segmentation by Region 
North America 
United States
Canada
Europe
Germany
United Kingdom
France
Spain
Italy
Rest of Europe
Asia-Pacific 
China
Japan
India
Rest of Asia-Pacific
Rest of the World

Company Profiles
AvidXchange, Inc.
Bill.com, LLC
Comarch SA.
FinancialForce
FreshBooks USA, Inc.
Lexmark International, Inc.
Medius Sverige AB
MineralTree, Inc.
MHC Automation, LLC
Procurify Technologies, Inc.
Quadient (Neopost SA)
SAP Ariba
Tipalti, Inc.
Zycus, Inc.

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