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What is accrual automation?

AI Business Process Automation > AI Financial & Accounting Automation3 min read

Key Facts

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  • The financial automation market was valued at USD 6.6 billion in 2023 and is projected to grow at a 14.2% CAGR through 2032.
  • AP automation market is set to reach USD 11.17 billion by 2030, growing at a 12.6% CAGR from 2025.
  • Cloud-based financial solutions are expected to exceed USD 12.8 billion by 2032, driven by scalability and cost-efficiency.
  • Automation can reduce financial reporting errors by up to 90% and accelerate processing speeds by 85x.
  • Over 80 countries now mandate structured e-invoicing, boosting global compliance and efficiency in accounts payable.
  • Migration from legacy ERP systems like SAP ECC to cloud platforms can cost global companies over USD 10 million.
  • Corpay acquired Paymerang for USD 475 million, highlighting consolidation and growth in the AP automation space.
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