Global Accounts Payable Software market is expected to reach 1880 million US$ by the end of 2025

Publisher: QYResearch

Published Date: 2019/1/31

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.

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%.

In 2017, the global Accounts Payable Software market size was 1050 million US$ and it is expected to reach 1880 million US$ by the end of 2025, with a CAGR of 7.5% between 2018 and 2025.

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