The global Accounts Payable (AP) automation market size is expected to grow from USD 1.9 billion in 2019 to USD 3.1 billion by 2024, at a Compound Annual Growth Rate (CAGR) of 11.0% during the forecast period. An increasing need for efficient AP process to reduce the invoice processing time across industries is expected to drive the growth of AP automation market across the globe. Furthermore, the AP automation solution empowers organizations to make automatic payment approvals, on-time payment, prevent duplicate payment, and frauds. These benefits drive the adoption of AP automation solutions across industries globally.

Download PDF Brochure @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=1206101

The major AP automation vendors include SAP Ariba (US), Sage Software(US), Tipalti (Canada), FreshBooks (Canada), Zycus (US), FIS (US), Bottomline Technologies (US), Coupa Software (US), Comarch (Poland), FinancialForce (US), Avidxchange (US), Vanguard Systems (US), Bill.com (US), Procurify (Canada), and Nvoicepay (US). These players have adopted various growth strategies, such as new product launches, business expansions, partnerships, agreements, and collaborations and acquisitions, to expand their presence in the global AP automation market further. These strategies have helped them innovate their offerings and broaden their customer base.

SAP Ariba (US) is one of the leading players in AP automation market across the globe. It offers SAP AP automation solutions in over 190 countries across the Americas, Europe, Middle East and Africa (MEA), and Asia Pacific and Japan (APJ). The company has a strong trading network with more than 3.6 million businesses. As a part of its growth strategy, in April 2019, SAP Arabia signed an agreement with American Express to offer buyers and suppliers new payment and financing options on the Ariba Network. Post the agreement, American Express leveraged the benefits of Ariba Network Application Program Interfaces (APIs) to enable its virtual card capabilities within the SAP Ariba process and platform. The network extension has enabled American Express to facilitate seamless commerce, secure payments, and easy reconciliation between businesses on a single platform.

FIS (US) is another prominent player that offers AP automation solutions and services. The company is a key provider of financial technology solutions, such as payment processing, financial software, and banking. In the payment space, FIS offers Integrated Payables, Invoice-to-Pay, Payment Factory, and White Label Payment solutions to drive payment processing efficiently. The company continually strives to offer innovative AP automation solutions and emphasizes on expanding its partner network to strengthen its foothold in the global AP automation market. In March 2019, FIS signed a definite merger agreement with Worldpay, a global leader in eCommerce and payments. Post the merger, FIS enhanced its product portfolio for payment-related offerings and significantly increased Worldpay’s global distribution footprint.

Buy now this report @ https://www.marketsandmarkets.com/Purchase/purchase_reportNew.asp?id=1206101

About MarketsandMarkets™

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets’s flagship competitive intelligence and market research platform, "Knowledge Store" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

Contact:

Mr. Sanjay Gupta

MarketsandMarkets™ INC.

630 Dundee Road

Suite 430

Northbrook, IL 60062

USA: 1-888-600-6441

Email: [email protected]

MnM Blog: https://mnmblog.org/

Visit Our Website: https://www.marketsandmarkets.com