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Accounts payable software refers to systems that are used for accounting and financial processes. These solutions range from basic single-entry apps for bookkeeping and check writing to advanced double-entry programs that offer a general ledger, and accounts payable and accounts receivable functionality. Sophisticated platforms offer fixed assets, invoicing, inventory and other advanced features. Accounts payable software can help your organization to get rid of manual tasks, keep your numbers accurate, save time by automating routine tasks, get reminders and notifications to avoid penalties and more. A good accounts payable software is essential for growing businesses.
The accounts payable software is a type of accounts software, and some accounts software with accounts payable function is included in the report.
Scope of the Report:
This report studies the Accounts Payable Software market status and outlook of Global and major regions, from angles of players, countries, product types and end industries; this report analyzes the top players in global market, and splits the Accounts Payable Software market by product type and applications/end industries.
Accounts payable software is mainly used for two applications: SMEs, Large Enterprise and Others. SMEs segment was the most widely used area which took up about 72% of the global total in 2017. And SMEs segment is the fast growing market in the world at present.
Accounts payable software can be classified into Cloud/SaaS/Web Based type and Installed type. The revenue market of Cloud/SaaS/Web based accounts payable software took up more than 88% of the global market in 2017.
North America and Europe are the two largest consumption regions of accounts payable software in the world in the past few years and it will keep increasing in the next few years. North American and European market respectively took up about 48% and 27% the global market in 2017, while Asia-Pacific is about 19%.
The global Accounts Payable Software market is valued at 1050 million USD in 2017 and is expected to reach 1680 million USD by the end of 2023, growing at a CAGR of 8.1% between 2017 and 2023.
The Asia-Pacific will occupy for more market share in following years, especially in China, also fast growing India and Southeast Asia regions.
North America, especially The United States, will still play an important role which cannot be ignored. Any changes from United States might affect the development trend of Accounts Payable Software.
Europe also play important roles in global market, with market size of xx million USD in 2017 and will be xx million USD in 2023, with a CAGR of xx%.
Market Segment by Companies, this report covers
- Acclivity Group
- KashFlow Software
- Norming Software
- Yat Software
Market Segment by Regions, regional analysis covers
North America (United States, Canada and Mexico)
Europe (Germany, France, UK, Russia and Italy)
Asia-Pacific (China, Japan, Korea, India and Southeast Asia)
South America (Brazil, Argentina, Colombia)
Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)
Market Segment by Type, covers
- Cloud/SaaS/Web Based
Market Segment by Applications, can be divided into
- Large Enterprise