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Oct 07, 2020 (AB Digital via COMTEX) —
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.
Solutions segment to hold the highest market share during the forecast period
Manual entries for AP processes are expensive, error-prone, and highly inefficient. The AP solution automates payment processes and enables enterprises to