Significant Shift towards Electronic Invoicing Systems to Flourish European Account Payable Automation Market

The European account payable automation market is anticipated to grow at a CAGR of 8.9% during the forecast period (2021-2027). The factors driving the growth of the European Account Payable Automation market include the shift of invoicing systems towards electronic invoicing and the significant presence of several key players in the account payable Automation market. These players are making a considerable contribution to the high market share of the region by adopting several growth strategies such as new initiatives, mergers & acquisitions, partnerships, and collaboration among others. 

Browse the full report description European Account Payable Automation Market Size, Share & Trends Analysis Report By Organization Size (Large Enterprises and Small and Medium-Sized Enterprises (SMEs), By Deployment Type (On-Premises and Cloud) and By Vertical (Banking, Financial Services, and Insurance (BFSI), Consumer Goods and Retail, Information Technology (IT) and Telecom, Healthcare and Others) Forecast Period 2021-2027 at https://www.omrglobal.com/industry-reports/europe-account-payable-automation-market

For instance, in April 2021, Yooz one of the companies operating for cloud-based purchase-to-pay (P2P) automation software had set forth the launch of its new and improved solutions for accounts payable (AP) automation named Yooz Rising. Through the user can conveniently perform various functions to process the invoicing and enabling the departments for accounting along with finance to automate the system related to the invoice. Additionally, it also provides customization to improve productivity along with transparency that leads to identifying any sort of document present with better processing time and security. This system also enables flexibility and scalability as well that supports the companies to do proper communication for business growth and development. 

Market Coverage

• The market number available for – 2020-2027
• Base year- 2020
• Forecast period- 2021-2027
• Segment Covered- 

o By Organization Size

o By Deployment Type

o By Vertical 

• Competitive Landscape- Bottomline Technologies, Inc., Coupa Software Inc., Sage Group Plc, SAP Ariba, Oracle

Key questions addressed by the report

• What is the market growth rate?
• Which segment and region dominate the market in the base year?
• Which segment and region will project the fastest growth in the market?
• How COVID-19 impacted the market?

o Deviation from the pre-COVID-19 forecast

o Most affected region and segment

• Who is the leader in the market?
• How are players addressing challenges to sustain growth?
• Where is the investment opportunity?

European Account Payable Automation Market

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 Telecom
• Healthcare
• Other

European Account Payable Automation Market Report Segment by Region

• UK
• Germany
• Spain
• Italy
• France
• Rest of Europe