Accounts Payable Automation: The multitrillion-dollar accounts payable market is finally digitizing — here's how payments providers can grab a piece of it

Executive Summary

With accelerating digitization in the US B2B payments market across invoice receipt, invoice management, and payment, providers enabling these types of payments are facing an opportunity to diversify business channels, bring in new clients, and grow volume.

Three Key Questions This Report Will Answer:

• Why have B2B payments taken so long to digitize, and what are the benefits of automation?
• What sectors present providers focused on automation with the largest opportunities for growth and customer acquisition?
• Which players represent best practices for serving small businesses, middle-market companies, cross-border payment players, and gig economy firms?

WHAT'S IN THIS REPORT? In this report, Insider Intelligence will size the AP market in the US, evaluate the breakdown between analog and digital processes, and discuss why there's been a recent push towards digitization. We will scope out the opportunity in AP automation for payments providers and analyze four key business segments in which there's particular opportunity for growth in automating AP: small businesses, the middle market, cross-border businesses, and the gig economy. We will then examine providers at the forefront of serving each of those segments, evaluate their strategies to move into the market, and discuss how they can serve as a blueprint for other payments companies looking to grow into the space.