Accounts Payable & Procurement Services Market

Accounts Payable & Procurement Services Market - Global Growth Opportunities 2019-2031

Global Accounts Payable & Procurement Services is segmented by Application (Finance, Technology, Business Solutions, Enterprise Software, Supply Chain), Type (SaaS Solutions, Automation, Invoice Management, Supplier Management, eProcurement) and Geography(North America, LATAM, West Europe, Central & Eastern Europe, Northern Europe, Southern Europe, East Asia, Southeast Asia, South Asia, Central Asia, Oceania, MEA)

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INDUSTRY OVERVIEW

The Accounts Payable & Procurement Services market is experiencing robust growth, projected to achieve a compound annual growth rate CAGR of 20.00% during the forecast period. Valued at 12Billion, the market is expected to reach 30Billion by 2031, with a year-on-year growth rate of 22.00%. This upward trajectory is driven by factors such as evolving consumer preferences, technological advancements, and increased investment in innovation, positioning the market for significant expansion in the coming years. Companies should strategically focus on enhancing their offerings and exploring new market opportunities to capitalize on this growth potential.

Accounts Payable & Procurement Services Market Size in (USD Billion) CAGR Growth Rate 20.00%

Study Period 2019-2031
Market Size (2023): 12Billion
Market Size (2031): 30Billion
CAGR (2023 - 2031): 20.00%
Fastest Growing Region Asia-Pacific
Dominating Region North America
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Account payable and procurement service refers to maintaining the company’s liability or debt owed due to the purchasing of services and products in a ledger. Growing digital transformation and complexity to maintain account payables or ledger in the spreadsheets or papers has led organizations towards the outsourcing of account payable & procurement to reduce the IT cost and eliminate errors. The huge amount of purchase of raw materials or goods in the manufacturing sector will accelerate the market growth as it helps to improve the payment process and maintain better relations with suppliers.



Regulatory Framework

The Information and Communications Technology (ICT) industry is primarily regulated by the Federal Communications Commission (FCC) in the United States, along with other national and international regulatory bodies. The FCC oversees the allocation of spectrum, ensures compliance with telecommunications laws, and fosters fair competition within the sector. It also establishes guidelines for data privacy, cybersecurity, and service accessibility, which are crucial for maintaining industry standards and protecting consumer interests.
Globally, various regulatory agencies, such as the European Telecommunications Standards Institute (ETSI) and the International Telecommunication Union (ITU), play significant roles in standardizing practices and facilitating international cooperation. These bodies work together to create a cohesive regulatory framework that addresses emerging technologies, cross-border data flow, and infrastructure development. Their regulations aim to ensure the ICT industry's growth is both innovative and compliant with global standards, promoting a secure and competitive market environment.
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Key Highlights

•    The Accounts Payable & Procurement Services is growing at a CAGR of 20.00% during the forecasted period of 2019 to 2031
•    Year on Year growth for the market is 22.00%
•    Based on type, the market is bifurcated into SaaS Solutions, Automation, Invoice Management, Supplier Management
•    Based on application, the market is segmented into Finance, Technology, Business Solutions, Enterprise Software, Supply Chain
•    Global Import Export in terms of K Tons, K Units, and Metric Tons will be provided if Applicable based on industry best practice

Market Segmentation Analysis

Segmentation by Type


  • SaaS Solutions
  • Automation
  • Invoice Management
  • Supplier Management

Accounts Payable & Procurement Services Market Segmentation by Type

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Segmentation by Application
 
  • Finance
  • Technology
  • Business Solutions
  • Enterprise Software
  • Supply Chain

Accounts Payable & Procurement Services Market Segmentation by Application

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Key Players

Several key players in the Accounts Payable & Procurement Services market are strategically focusing on expanding their operations in developing regions to capture a larger market share, particularly as the year-on-year growth rate for the market stands at 22.00%. The companies featured in this profile were selected based on insights from primary experts, evaluating their market penetration, product offerings, and geographical reach. By targeting emerging markets, these companies aim to leverage new opportunities, enhance their competitive advantage, and drive revenue growth. This approach not only aligns with their overall business objectives but also positions them to respond effectively to the evolving demands of consumers in these regions.
  • GEP (United States)
  • Corcentric
  • Inc. (United States)
  • Infosys (India)
  • QX Global Group Ltd. (United Kingdom)
  • IBM (United States)
  • Bioprocure
  • Inc. (United States)
  • Accenture (Ireland)
  • Capgemini (France)
  • Genpact (United States)
  • Wipro (India)
  • Avendra
  • LLC (United States)

Accounts Payable & Procurement Services Market Segmentation by Players

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Research Methodology

At HTF Market Intelligence, we pride ourselves on delivering comprehensive market research that combines both secondary and primary methodologies. Our secondary research involves rigorous analysis of existing data sources, such as industry reports, market databases, and competitive landscapes, to provide a robust foundation of market knowledge. This is complemented by our primary research services, where we gather firsthand data through surveys, interviews, and focus groups tailored specifically to your business needs. By integrating these approaches, we offer a thorough understanding of market trends, consumer behavior, and competitive dynamics, enabling you to make well-informed strategic decisions. We would welcome the opportunity to discuss how our research expertise can support your business objectives.

Market Dynamics


Market dynamics refer to the forces that influence the supply and demand of products and services within a market. These forces include factors such as consumer preferences, technological advancements, regulatory changes, economic conditions, and competitive actions. Understanding market dynamics is crucial for businesses as it helps them anticipate changes, identify opportunities, and mitigate risks.
By analyzing market dynamics, companies can better understand market trends, predict potential shifts, and develop strategic responses. This analysis enables businesses to align their product offerings, pricing strategies, and marketing efforts with evolving market conditions, ultimately leading to more informed decision-making and a stronger competitive position in the marketplace.

Market Driver

  • Growing Preference Towards The Account Payable & Procurement Services To Reduce IT And Training Cost


Market Trend

  • Use of Technologically Advanced Solutions by the Service Providers to Improve Customer Experience

Opportunity

  • Rapidly Growing Manufacturing Sector Across The Globe


Challenge

  • Duplication Issues
  • Loss Of Control



Regional Outlook

The North America Region holds the largest market share in 2023 and is expected to grow at a good CAGR. The Asia-Pacific Region is the fastest-growing region due to increasing development and disposable income.


North America remains a leader, driven by innovation hubs like Silicon Valley and a strong demand for advanced technologies such as AI and cloud computing. Europe is characterized by robust regulatory frameworks and significant investments in digital transformation across sectors. Asia-Pacific is experiencing rapid growth, led by major markets like China and India, where increasing digital adoption and governmental initiatives are propelling ICT advancements.


The Middle East and Africa are witnessing steady expansion, driven by infrastructure development and growing internet penetration. Latin America and South America present emerging opportunities, with rising investments in digital infrastructure, though challenges like economic instability can impact growth. These regional differences highlight the need for tailored strategies in the global ICT market.
 

Regions
  • North America
  • LATAM
  • West Europe
  • Central & Eastern Europe
  • Northern Europe
  • Southern Europe
  • East Asia
  • Southeast Asia
  • South Asia
  • Central Asia
  • Oceania
  • MEA
Fastest Growing Region
Asia-Pacific
Asia-Pacific hold biggest share in Accounts Payable & Procurement Services Market
Dominating Region
North America
North America hold biggest share in Accounts Payable & Procurement Services Market

 

Report Features

Details

Base Year

2023

Based Year Market Size (2023)

12Billion

Historical Period Market Size (2019)

5Billion

CAGR (2023 to 2031)

20.00%

Forecast Period

2025 to 2031

Forecasted Period Market Size (2031)

30Billion 

Scope of the Report

SaaS Solutions, Automation, Invoice Management, Supplier Management, Finance, Technology, Business Solutions, Enterprise Software, Supply Chain

Regions Covered

North America, Europe, Asia Pacific, South America, and MEA

Year on Year Growth

22.00%

Companies Covered

GEP (United States), Corcentric, Inc. (United States), Infosys (India), QX Global Group Ltd. (United Kingdom), IBM (United States), Bioprocure, Inc. (United States), Accenture (Ireland), Capgemini (France), Genpact (United States), Wipro (India), Avendra, LLC (United States)

Customization Scope

15% Free Customization (For EG)

Delivery Format

PDF and Excel through Email

 

 

Accounts Payable & Procurement Services - Table of Contents

Chapter 1: Market Preface
  • 1.1 Global Accounts Payable & Procurement Services Market Landscape
  • 1.2 Scope of the Study
  • 1.3 Relevant Findings & Stakeholder Advantages

Chapter 2: Strategic Overview
  • 2.1 Global Accounts Payable & Procurement Services Market Outlook
  • 2.2 Total Addressable Market versus Serviceable Market
  • 2.3 Market Rivalry Projection

Chapter 3 : Global Accounts Payable & Procurement Services Market Business Environment & Changing Dynamics
  • 3.1 Growth Drivers
    • 3.1.1 Growing Preference Towards the Account Payable & Procurement Services to Reduce IT and Training Cost
  • 3.2 Available Opportunities
    • 3.2.1 Rapidly Growing Manufacturing Sector Across the Globe
  • 3.3 Influencing Trends
    • 3.3.1 Use of Technologically Advanced Solutions by the Service Providers to Improve Customer Experience
  • 3.4 Challenges
    • 3.4.1 Duplication Issues
    • 3.4.2 Loss of Control
    • 3.4.3 and Lack of Visibility into the Process
  • 3.5 Regional Dynamics

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Chapter 4 : Global Accounts Payable & Procurement Services Industry Factors Assessment
  • 4.1 Current Scenario
  • 4.2 PEST Analysis
  • 4.3 Business Environment - PORTER 5-Forces Analysis
    • 4.3.1 Supplier Leverage
    • 4.3.2 Bargaining Power of Buyers
    • 4.3.3 Threat of Substitutes
    • 4.3.4 Threat from New Entrant
    • 4.3.5 Market Competition Level
  • 4.4 Roadmap of Accounts Payable & Procurement Services Market
  • 4.5 Impact of Macro-Economic Factors
  • 4.6 Market Entry Strategies
  • 4.7 Political and Regulatory Landscape
  • 4.8 Supply Chain Analysis
  • 4.9 Impact of Tariff War


Chapter 5: Accounts Payable & Procurement Services : Competition Benchmarking & Performance Evaluation
  • 5.1 Global Accounts Payable & Procurement Services Market Concentration Ratio
    • 5.1.1 CR4, CR8 and HH Index
    • 5.1.2 % Market Share - Top 3
    • 5.1.3 Market Holding by Top 5
  • 5.2 Market Position of Manufacturers by Accounts Payable & Procurement Services Revenue 2023
  • 5.3 BCG Matrix
  • 5.3 Market Entropy
  • 5.4 FPNV Positioning Matrix
  • 5.5 Heat Map Analysis
Chapter 6: Global Accounts Payable & Procurement Services Market: Company Profiles
  • 6.1 GEP (United States)
    • 6.1.1 GEP (United States) Company Overview
    • 6.1.2 GEP (United States) Product/Service Portfolio & Specifications
    • 6.1.3 GEP (United States) Key Financial Metrics
    • 6.1.4 GEP (United States) SWOT Analysis
    • 6.1.5 GEP (United States) Development Activities
  • 6.2 Corcentric
  • 6.3 Inc. (United States)
  • 6.4 Infosys (India)
  • 6.5 QX Global Group Ltd. (United Kingdom)
  • 6.6 IBM (United States)
  • 6.7 Bioprocure
  • 6.8 Inc. (United States)
  • 6.9 Accenture (Ireland)
  • 6.10 Capgemini (France)
  • 6.11 Genpact (United States)
  • 6.12 Wipro (India)
  • 6.13 Avendra
  • 6.14 LLC (United States)
  • 6.15 Black & Veatch (United States)

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Chapter 7 : Global Accounts Payable & Procurement Services by Type & Application (2019-2031)
  • 7.1 Global Accounts Payable & Procurement Services Market Revenue Analysis (USD Million) by Type (2019-2023)
    • 7.1.1 SaaS Solutions
    • 7.1.2 Automation
    • 7.1.3 Invoice Management
    • 7.1.4 Supplier Management
    • 7.1.5 EProcurement
  • 7.2 Global Accounts Payable & Procurement Services Market Revenue Analysis (USD Million) by Application (2019-2023)
    • 7.2.1 Finance
    • 7.2.2 Technology
    • 7.2.3 Business Solutions
    • 7.2.4 Enterprise Software
    • 7.2.5 Supply Chain
  • 7.3 Global Accounts Payable & Procurement Services Market Revenue Analysis (USD Million) by Type (2023-2031)
  • 7.4 Global Accounts Payable & Procurement Services Market Revenue Analysis (USD Million) by Application (2023-2031)

Chapter 8 : North America Accounts Payable & Procurement Services Market Breakdown by Country, Type & Application
  • 8.1 North America Accounts Payable & Procurement Services Market by Country (USD Million) [2019-2023]
    • 8.1.1 United States
    • 8.1.2 Canada
  • 8.2 North America Accounts Payable & Procurement Services Market by Type (USD Million) [2019-2023]
    • 8.2.1 SaaS Solutions
    • 8.2.2 Automation
    • 8.2.3 Invoice Management
    • 8.2.4 Supplier Management
    • 8.2.5 EProcurement
  • 8.3 North America Accounts Payable & Procurement Services Market by Application (USD Million) [2019-2023]
    • 8.3.1 Finance
    • 8.3.2 Technology
    • 8.3.3 Business Solutions
    • 8.3.4 Enterprise Software
    • 8.3.5 Supply Chain
  • 8.4 North America Accounts Payable & Procurement Services Market by Country (USD Million) [2024-2031]
  • 8.5 North America Accounts Payable & Procurement Services Market by Type (USD Million) [2024-2031]
  • 8.6 North America Accounts Payable & Procurement Services Market by Application (USD Million) [2024-2031]
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Chapter 9 : LATAM Accounts Payable & Procurement Services Market Breakdown by Country, Type & Application
  • 9.1 LATAM Accounts Payable & Procurement Services Market by Country (USD Million) [2019-2023]
    • 9.1.1 Brazil
    • 9.1.2 Argentina
    • 9.1.3 Chile
    • 9.1.4 Mexico
    • 9.1.5 Rest of LATAM
  • 9.2 LATAM Accounts Payable & Procurement Services Market by Type (USD Million) [2019-2023]
    • 9.2.1 SaaS Solutions
    • 9.2.2 Automation
    • 9.2.3 Invoice Management
    • 9.2.4 Supplier Management
    • 9.2.5 EProcurement
  • 9.3 LATAM Accounts Payable & Procurement Services Market by Application (USD Million) [2019-2023]
    • 9.3.1 Finance
    • 9.3.2 Technology
    • 9.3.3 Business Solutions
    • 9.3.4 Enterprise Software
    • 9.3.5 Supply Chain
  • 9.4 LATAM Accounts Payable & Procurement Services Market by Country (USD Million) [2024-2031]
  • 9.5 LATAM Accounts Payable & Procurement Services Market by Type (USD Million) [2024-2031]
  • 9.6 LATAM Accounts Payable & Procurement Services Market by Application (USD Million) [2024-2031]
Chapter 10 : West Europe Accounts Payable & Procurement Services Market Breakdown by Country, Type & Application
  • 10.1 West Europe Accounts Payable & Procurement Services Market by Country (USD Million) [2019-2023]
    • 10.1.1 Germany
    • 10.1.2 France
    • 10.1.3 Benelux
    • 10.1.4 Switzerland
    • 10.1.5 Rest of West Europe
  • 10.2 West Europe Accounts Payable & Procurement Services Market by Type (USD Million) [2019-2023]
    • 10.2.1 SaaS Solutions
    • 10.2.2 Automation
    • 10.2.3 Invoice Management
    • 10.2.4 Supplier Management
    • 10.2.5 EProcurement
  • 10.3 West Europe Accounts Payable & Procurement Services Market by Application (USD Million) [2019-2023]
    • 10.3.1 Finance
    • 10.3.2 Technology
    • 10.3.3 Business Solutions
    • 10.3.4 Enterprise Software
    • 10.3.5 Supply Chain
  • 10.4 West Europe Accounts Payable & Procurement Services Market by Country (USD Million) [2024-2031]
  • 10.5 West Europe Accounts Payable & Procurement Services Market by Type (USD Million) [2024-2031]
  • 10.6 West Europe Accounts Payable & Procurement Services Market by Application (USD Million) [2024-2031]
Chapter 11 : Central & Eastern Europe Accounts Payable & Procurement Services Market Breakdown by Country, Type & Application
  • 11.1 Central & Eastern Europe Accounts Payable & Procurement Services Market by Country (USD Million) [2019-2023]
    • 11.1.1 Bulgaria
    • 11.1.2 Poland
    • 11.1.3 Hungary
    • 11.1.4 Romania
    • 11.1.5 Rest of CEE
  • 11.2 Central & Eastern Europe Accounts Payable & Procurement Services Market by Type (USD Million) [2019-2023]
    • 11.2.1 SaaS Solutions
    • 11.2.2 Automation
    • 11.2.3 Invoice Management
    • 11.2.4 Supplier Management
    • 11.2.5 EProcurement
  • 11.3 Central & Eastern Europe Accounts Payable & Procurement Services Market by Application (USD Million) [2019-2023]
    • 11.3.1 Finance
    • 11.3.2 Technology
    • 11.3.3 Business Solutions
    • 11.3.4 Enterprise Software
    • 11.3.5 Supply Chain
  • 11.4 Central & Eastern Europe Accounts Payable & Procurement Services Market by Country (USD Million) [2024-2031]
  • 11.5 Central & Eastern Europe Accounts Payable & Procurement Services Market by Type (USD Million) [2024-2031]
  • 11.6 Central & Eastern Europe Accounts Payable & Procurement Services Market by Application (USD Million) [2024-2031]
Chapter 12 : Northern Europe Accounts Payable & Procurement Services Market Breakdown by Country, Type & Application
  • 12.1 Northern Europe Accounts Payable & Procurement Services Market by Country (USD Million) [2019-2023]
    • 12.1.1 The United Kingdom
    • 12.1.2 Sweden
    • 12.1.3 Norway
    • 12.1.4 Baltics
    • 12.1.5 Ireland
    • 12.1.6 Rest of Northern Europe
  • 12.2 Northern Europe Accounts Payable & Procurement Services Market by Type (USD Million) [2019-2023]
    • 12.2.1 SaaS Solutions
    • 12.2.2 Automation
    • 12.2.3 Invoice Management
    • 12.2.4 Supplier Management
    • 12.2.5 EProcurement
  • 12.3 Northern Europe Accounts Payable & Procurement Services Market by Application (USD Million) [2019-2023]
    • 12.3.1 Finance
    • 12.3.2 Technology
    • 12.3.3 Business Solutions
    • 12.3.4 Enterprise Software
    • 12.3.5 Supply Chain
  • 12.4 Northern Europe Accounts Payable & Procurement Services Market by Country (USD Million) [2024-2031]
  • 12.5 Northern Europe Accounts Payable & Procurement Services Market by Type (USD Million) [2024-2031]
  • 12.6 Northern Europe Accounts Payable & Procurement Services Market by Application (USD Million) [2024-2031]
Chapter 13 : Southern Europe Accounts Payable & Procurement Services Market Breakdown by Country, Type & Application
  • 13.1 Southern Europe Accounts Payable & Procurement Services Market by Country (USD Million) [2019-2023]
    • 13.1.1 Spain
    • 13.1.2 Italy
    • 13.1.3 Portugal
    • 13.1.4 Greece
    • 13.1.5 Rest of Southern Europe
  • 13.2 Southern Europe Accounts Payable & Procurement Services Market by Type (USD Million) [2019-2023]
    • 13.2.1 SaaS Solutions
    • 13.2.2 Automation
    • 13.2.3 Invoice Management
    • 13.2.4 Supplier Management
    • 13.2.5 EProcurement
  • 13.3 Southern Europe Accounts Payable & Procurement Services Market by Application (USD Million) [2019-2023]
    • 13.3.1 Finance
    • 13.3.2 Technology
    • 13.3.3 Business Solutions
    • 13.3.4 Enterprise Software
    • 13.3.5 Supply Chain
  • 13.4 Southern Europe Accounts Payable & Procurement Services Market by Country (USD Million) [2024-2031]
  • 13.5 Southern Europe Accounts Payable & Procurement Services Market by Type (USD Million) [2024-2031]
  • 13.6 Southern Europe Accounts Payable & Procurement Services Market by Application (USD Million) [2024-2031]
Chapter 14 : East Asia Accounts Payable & Procurement Services Market Breakdown by Country, Type & Application
  • 14.1 East Asia Accounts Payable & Procurement Services Market by Country (USD Million) [2019-2023]
    • 14.1.1 China
    • 14.1.2 Japan
    • 14.1.3 South Korea
    • 14.1.4 Taiwan
    • 14.1.5 Others
  • 14.2 East Asia Accounts Payable & Procurement Services Market by Type (USD Million) [2019-2023]
    • 14.2.1 SaaS Solutions
    • 14.2.2 Automation
    • 14.2.3 Invoice Management
    • 14.2.4 Supplier Management
    • 14.2.5 EProcurement
  • 14.3 East Asia Accounts Payable & Procurement Services Market by Application (USD Million) [2019-2023]
    • 14.3.1 Finance
    • 14.3.2 Technology
    • 14.3.3 Business Solutions
    • 14.3.4 Enterprise Software
    • 14.3.5 Supply Chain
  • 14.4 East Asia Accounts Payable & Procurement Services Market by Country (USD Million) [2024-2031]
  • 14.5 East Asia Accounts Payable & Procurement Services Market by Type (USD Million) [2024-2031]
  • 14.6 East Asia Accounts Payable & Procurement Services Market by Application (USD Million) [2024-2031]
Chapter 15 : Southeast Asia Accounts Payable & Procurement Services Market Breakdown by Country, Type & Application
  • 15.1 Southeast Asia Accounts Payable & Procurement Services Market by Country (USD Million) [2019-2023]
    • 15.1.1 Vietnam
    • 15.1.2 Singapore
    • 15.1.3 Thailand
    • 15.1.4 Malaysia
    • 15.1.5 Indonesia
    • 15.1.6 Philippines
    • 15.1.7 Rest of SEA Countries
  • 15.2 Southeast Asia Accounts Payable & Procurement Services Market by Type (USD Million) [2019-2023]
    • 15.2.1 SaaS Solutions
    • 15.2.2 Automation
    • 15.2.3 Invoice Management
    • 15.2.4 Supplier Management
    • 15.2.5 EProcurement
  • 15.3 Southeast Asia Accounts Payable & Procurement Services Market by Application (USD Million) [2019-2023]
    • 15.3.1 Finance
    • 15.3.2 Technology
    • 15.3.3 Business Solutions
    • 15.3.4 Enterprise Software
    • 15.3.5 Supply Chain
  • 15.4 Southeast Asia Accounts Payable & Procurement Services Market by Country (USD Million) [2024-2031]
  • 15.5 Southeast Asia Accounts Payable & Procurement Services Market by Type (USD Million) [2024-2031]
  • 15.6 Southeast Asia Accounts Payable & Procurement Services Market by Application (USD Million) [2024-2031]
Chapter 16 : South Asia Accounts Payable & Procurement Services Market Breakdown by Country, Type & Application
  • 16.1 South Asia Accounts Payable & Procurement Services Market by Country (USD Million) [2019-2023]
    • 16.1.1 India
    • 16.1.2 Bangladesh
    • 16.1.3 Others
  • 16.2 South Asia Accounts Payable & Procurement Services Market by Type (USD Million) [2019-2023]
    • 16.2.1 SaaS Solutions
    • 16.2.2 Automation
    • 16.2.3 Invoice Management
    • 16.2.4 Supplier Management
    • 16.2.5 EProcurement
  • 16.3 South Asia Accounts Payable & Procurement Services Market by Application (USD Million) [2019-2023]
    • 16.3.1 Finance
    • 16.3.2 Technology
    • 16.3.3 Business Solutions
    • 16.3.4 Enterprise Software
    • 16.3.5 Supply Chain
  • 16.4 South Asia Accounts Payable & Procurement Services Market by Country (USD Million) [2024-2031]
  • 16.5 South Asia Accounts Payable & Procurement Services Market by Type (USD Million) [2024-2031]
  • 16.6 South Asia Accounts Payable & Procurement Services Market by Application (USD Million) [2024-2031]
Chapter 17 : Central Asia Accounts Payable & Procurement Services Market Breakdown by Country, Type & Application
  • 17.1 Central Asia Accounts Payable & Procurement Services Market by Country (USD Million) [2019-2023]
    • 17.1.1 Kazakhstan
    • 17.1.2 Tajikistan
    • 17.1.3 Others
  • 17.2 Central Asia Accounts Payable & Procurement Services Market by Type (USD Million) [2019-2023]
    • 17.2.1 SaaS Solutions
    • 17.2.2 Automation
    • 17.2.3 Invoice Management
    • 17.2.4 Supplier Management
    • 17.2.5 EProcurement
  • 17.3 Central Asia Accounts Payable & Procurement Services Market by Application (USD Million) [2019-2023]
    • 17.3.1 Finance
    • 17.3.2 Technology
    • 17.3.3 Business Solutions
    • 17.3.4 Enterprise Software
    • 17.3.5 Supply Chain
  • 17.4 Central Asia Accounts Payable & Procurement Services Market by Country (USD Million) [2024-2031]
  • 17.5 Central Asia Accounts Payable & Procurement Services Market by Type (USD Million) [2024-2031]
  • 17.6 Central Asia Accounts Payable & Procurement Services Market by Application (USD Million) [2024-2031]
Chapter 18 : Oceania Accounts Payable & Procurement Services Market Breakdown by Country, Type & Application
  • 18.1 Oceania Accounts Payable & Procurement Services Market by Country (USD Million) [2019-2023]
    • 18.1.1 Australia
    • 18.1.2 New Zealand
    • 18.1.3 Others
  • 18.2 Oceania Accounts Payable & Procurement Services Market by Type (USD Million) [2019-2023]
    • 18.2.1 SaaS Solutions
    • 18.2.2 Automation
    • 18.2.3 Invoice Management
    • 18.2.4 Supplier Management
    • 18.2.5 EProcurement
  • 18.3 Oceania Accounts Payable & Procurement Services Market by Application (USD Million) [2019-2023]
    • 18.3.1 Finance
    • 18.3.2 Technology
    • 18.3.3 Business Solutions
    • 18.3.4 Enterprise Software
    • 18.3.5 Supply Chain
  • 18.4 Oceania Accounts Payable & Procurement Services Market by Country (USD Million) [2024-2031]
  • 18.5 Oceania Accounts Payable & Procurement Services Market by Type (USD Million) [2024-2031]
  • 18.6 Oceania Accounts Payable & Procurement Services Market by Application (USD Million) [2024-2031]
Chapter 19 : MEA Accounts Payable & Procurement Services Market Breakdown by Country, Type & Application
  • 19.1 MEA Accounts Payable & Procurement Services Market by Country (USD Million) [2019-2023]
    • 19.1.1 Turkey
    • 19.1.2 South Africa
    • 19.1.3 Egypt
    • 19.1.4 UAE
    • 19.1.5 Saudi Arabia
    • 19.1.6 Israel
    • 19.1.7 Rest of MEA
  • 19.2 MEA Accounts Payable & Procurement Services Market by Type (USD Million) [2019-2023]
    • 19.2.1 SaaS Solutions
    • 19.2.2 Automation
    • 19.2.3 Invoice Management
    • 19.2.4 Supplier Management
    • 19.2.5 EProcurement
  • 19.3 MEA Accounts Payable & Procurement Services Market by Application (USD Million) [2019-2023]
    • 19.3.1 Finance
    • 19.3.2 Technology
    • 19.3.3 Business Solutions
    • 19.3.4 Enterprise Software
    • 19.3.5 Supply Chain
  • 19.4 MEA Accounts Payable & Procurement Services Market by Country (USD Million) [2024-2031]
  • 19.5 MEA Accounts Payable & Procurement Services Market by Type (USD Million) [2024-2031]
  • 19.6 MEA Accounts Payable & Procurement Services Market by Application (USD Million) [2024-2031]

Chapter 20: Research Findings & Conclusion
  • 20.1 Key Findings
  • 20.2 Conclusion

Chapter 21: Methodology and Data Source
  • 21.1 Research Methodology & Approach
    • 21.1.1 Research Program/Design
    • 21.1.2 Market Size Estimation
    • 21.1.3 Market Breakdown and Data Triangulation
  • 21.2 Data Source
    • 21.2.1 Secondary Sources
    • 21.2.2 Primary Sources

Chapter 22: Appendix & Disclaimer
  • 22.1 Acronyms & bibliography
  • 22.2 Disclaimer

Frequently Asked Questions (FAQ):

The Accounts Payable & Procurement Services market may reach an estimated size of 30 Billion by 2031.

The Accounts Payable & Procurement Services Market is estimated to grow at a CAGR of 20.00%, currently pegged at 12 Billion.

The changing dynamics and trends such as Use Of Technologically Advanced Solutions By The Service Providers To Improve Customer Experience are seen as major Game Changer in Global Accounts Payable & Procurement Services Market.

  • Growing Preference Towards The Account Payable & Procurement Services To Reduce IT And Training Cost
  • Surging Demand Outsourcing Of Procurement Services To Improve Payment Process And Make Payment On Time

Business transformation in Accounts Payable & Procurement Services Market has taken hold due to the confluence of several important triggers, some of them are Duplication Issues, Loss Of Control, And Lack Of Visibility Into The Process.

Some of the opportunities that Analyst at HTF MI have identified in Accounts Payable & Procurement Services Market are:
  • Rapidly Growing Manufacturing Sector Across The Globe

GEP (United States), Corcentric, Inc. (United States), Infosys (India), QX Global Group Ltd. (United Kingdom), IBM (United States), Bioprocure, Inc. (United States), Accenture (Ireland), Capgemini (France), Genpact (United States), Wipro (India), Avendra, LLC (United States), Black & Veatch (United States) are the major operating companies profiled in Accounts Payable & Procurement Services market study.

Research paper of Global Accounts Payable & Procurement Services Market shows that companies are making better progress than their supply chain peers –including suppliers, majorly in end-use applications such as Finance, Technology, Business Solutions, Enterprise Software, Supply Chain.

The Global Accounts Payable & Procurement Services Market Study is segmented by SaaS Solutions, Automation, Invoice Management, Supplier Management, eProcurement.

The Global Accounts Payable & Procurement Services Market Study includes regional breakdown as North America, LATAM, West Europe,Central & Eastern Europe, Northern Europe, Southern Europe, East Asia, Southeast Asia, South Asia, Central Asia, Oceania, MEA

Historical Year: 2019 - 2023; Base year: 2023; Forecast period: 2025 to 2031

Account payable and procurement service refers to maintaining the company’s liability or debt owed due to the purchasing of services and products in a ledger. Growing digital transformation and complexity to maintain account payables or ledger in the spreadsheets or papers has led organizations towards the outsourcing of account payable & procurement to reduce the IT cost and eliminate errors. The huge amount of purchase of raw materials or goods in the manufacturing sector will accelerate the market growth as it helps to improve the payment process and maintain better relations with suppliers.