Market Share of Accounts Receivable Automation Industry
The market's competitive landscape is moderately fragmented due to the presence of significant market players globally. Acquisitions, partnerships with industry participants, and new product/service rollouts have been the key competitive strategies exhibited by vendors in the market. Such developments are expected to increase in respective end-user verticals as prominent industry players expand their market presence.
- October 2022- Netsmart introduced a cloud-based revenue cycle management solution featured as one of the most recent additions to the CareFabric integrated platform. This solution enables healthcare providers to cut down on account receivable collection hours by up to 20% while accelerating cash flow, enhancing productivity, and boosting profitability.
- September 2022 - The financial automation platform Briq, which enables businesses to expand, recently announced the acquisition of Swipez, an Indian fintech firm that streamlines firms' invoicing and revenue-collecting procedures. By purchasing Swipez, Briq could fully automate all the key financial activities, from planning to payment to receiving payment.
- July 2022 - Tesorio Inc., an American company, provides customers with automated tools to handle their accounts receivable. Tesoro's solutions use AI models that analyze a customer's payment history and forecast the exact payment date. The company has completed a Series B round of funding for USD 17 million, headed by BAMCAP Ventures and including Madrona Venture Group. The company would use this money to create customized AI-based software tools for account receivables that would benefit businesses.
AR Automation Market Leaders
SAP SE
Oracle Corporation
Kofax Inc.
YayPay Inc.
SK Global Software
*Disclaimer: Major Players sorted in no particular order
