Global Accounts Payable Automation Market
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Global Accounts Payable Automation Market size is projected to grow from US$ XX billion in 2018 to US$ 3.2 billion by 2026, at a CAGR of XX%, during the forecast period.
Global Accounts Payable Automation Market, By Organization TypeThe Global Accounts Payable Automation Market report evaluates the growth rate and the market value based on market dynamics, growth inducing factors. Complete information is based on the latest industry news, opportunities, and trends. The accounts payable automation (AP Automation) refers to technology that is used to streamline and automate accounts payable processes, removing manual tasks and providing better visibility and control over important financial data.
This report focuses on the global Accounts Payable Automation status, future forecast, growth opportunity, key market and key players during the forecast period.
The Banking, Financial Services, and Insurance (BFSI) sector are becoming more strategically focused and technologically advanced for responding to consumer expectations while trying to defend the market share against an increasing array of competitors. AP automation in the BFSI vertical focuses on the increasing efficiency of documents by replacing paper invoices with digital invoices
The On-premises deployment segment accounts for the largest market share of XX% in 2018. The on-premises AP automation solution enables enterprises to automate payable workflow and define rules for the automated approvals of invoices. The percentage share of on-premises AP automation solution is decreasing, as these applications demand high-initial investments and long-term developer commitment.
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