Global Accounts Payable Software Market Growth, Share, Size, Trends and Forecast (2025 - 2031)

By Type;

Cloud/SaaS/Web-Based and Installed

By Application;

SMEs and Large Enterprises

By Geography;

North America, Europe, Asia Pacific, Middle East & Africa, and Latin America - Report Timeline (2021 - 2031)
Report ID: Rn110777181 Published Date: June, 2025 Updated Date: July, 2025

Accounts Payable Software Market Overview

Accounts Payable Software Market (USD Million)

Accounts Payable Software Market was valued at USD 12,342.42 million in the year 2024. The size of this market is expected to increase to USD 22,853.81 million by the year 2031, while growing at a Compounded Annual Growth Rate (CAGR) of 9.2%.


Global Accounts Payable Software Market Growth, Share, Size, Trends and Forecast

*Market size in USD million

CAGR 9.2 %


Study Period2025 - 2031
Base Year2024
CAGR (%)9.2 %
Market Size (2024)USD 12,342.42 Million
Market Size (2031)USD 22,853.81 Million
Market ConcentrationMedium
Report Pages311
12,342.42
2024
22,853.81
2031

Major Players

  • Freshbooks
  • Xero
  • Zoho
  • Intuit
  • Brightpearl
  • Sage
  • FinancialForce
  • Tipalti
  • PaySimple
  • Acclivity Group
  • KashFlow Software
  • Araize
  • Micronetics
  • Norming Software
  • Yat Software
  • SAP

Market Concentration

Consolidated - Market dominated by 1 - 5 major players

Global Accounts Payable Software Market

Fragmented - Highly competitive market without dominant players


The Accounts Payable Software Market is gaining traction as companies increasingly invest in automated finance solutions to streamline invoice management and payment workflows. Over 65% of organizations now rely on automation tools, showcasing a clear move toward error-free, faster processing systems that enhance operational precision.

Seamless System Integration
Many accounts payable solutions are engineered for smooth integration with ERP and accounting systems, ensuring unified financial data flows. Around 55% of deployments now operate within broader enterprise platforms, empowering companies to optimize process transparency and strategic decision-making.

Enhanced Compliance and Governance
The emphasis on financial compliance and internal control is accelerating software adoption. Approximately 48% of businesses focus on tools that ensure compliance with tax laws, fraud protection, and data traceability. These features are crucial for maintaining regulatory standards and organizational accountability.

SME-Driven Growth and Cloud Adoption
A surge in adoption among SMEs and digital-first companies is propelling the market forward. More than 60% of recent users are mid-sized firms drawn to cloud-enabled platforms offering ease of use and scalability. This trend emphasizes the shift toward flexible, cloud-native accounts payable ecosystems.

  1. Introduction
    1. Research Objectives and Assumptions
    2. Research Methodology
    3. Abbreviations
  2. Market Definition & Study Scope
  3. Executive Summary
    1. Market Snapshot, By Type
    2. Market Snapshot, By Application
    3. Market Snapshot, By Region
  4. Global Accounts Payable Software Market Dynamics
    1. Drivers, Restraints and Opportunities
      1. Drivers
        1. Automation of financial processes
        2. Regulatory compliance requirements
        3. Need for cost reduction
        4. Integration with ERP systems
        5. Demand for real-time reporting
      2. Restraints
        1. Implementation complexities and costs
        2. Security and data privacy concerns
        3. Resistance to change
        4. Lack of skilled professionals
        5. Compatibility issues with legacy systems
      3. Opportunities
        1. Growing adoption of cloud-based solutions
        2. Expansion in emerging markets
        3. Rise in outsourcing trends
        4. Increasing demand for analytics
        5. Advancements in AI technology
    2. PEST Analysis
      1. Political Analysis
      2. Economic Analysis
      3. Social Analysis
      4. Technological Analysis
    3. Porter's Analysis
      1. Bargaining Power of Suppliers
      2. Bargaining Power of Buyers
      3. Threat of Substitutes
      4. Threat of New Entrants
      5. Competitive Rivalry
  5. Market Segmentation
    1. Global Accounts Payable Software Market, By Type, 2021 - 2031 (USD Million)
      1. Cloud/SaaS/Web-Based
      2. Installed
    2. Global Accounts Payable Software Market, By Application,2021 - 2031 (USD Million)
      1. SMEs
      2. Large Enterprises
    3. Global Accounts Payable Software Market, By Geography,2021 - 2031 (USD Million)
      1. North America
        1. United States
        2. Canada
      2. Europe
        1. Germany
        2. United Kingdom
        3. France
        4. Italy
        5. Spain
        6. Nordic
        7. Benelux
        8. Rest of Europe
      3. Asia Pacific
        1. Japan
        2. China
        3. India
        4. Australia & New Zealand
        5. South Korea
        6. ASEAN (Association of South East Asian Countries)
        7. Rest of Asia Pacific
      4. Middle East & Africa
        1. GCC
        2. Israel
        3. South Africa
        4. Rest of Middle East & Africa
      5. Latin America
        1. Brazil
        2. Mexico
        3. Argentina
        4. Rest of Latin America
  6. Competitive Landscape
    1. Company Profiles
      1. Freshbooks
      2. Xero
      3. Zoho
      4. Intuit
      5. Brightpearl
      6. Sage
      7. FinancialForce
      8. Tipalti
      9. PaySimple
      10. Acclivity Group
      11. KashFlow Software
      12. Araize
      13. Micronetics
      14. Norming Software
      15. Yat Software
      16. SAP
  7. Analyst Views
  8. Future Outlook of the Market