Global Professional Services Automation Market Size, Status and Forecast 2021-2026
Global Professional Services Automation Market Research Report 2021-2026 is a valuable source of insightful information for commercial enterprise strategists It provides the industry overview with growth analysis and historical & futuristic cost, revenue, demand, and supply data (as applicable). The research analysts provide an elaborate description of the value chain and its distributor analysis. This Market study provides comprehensive data which enhances the understanding, scope, and application of this report.
The Professional Services Automation market was valued at USD 877.93 million in 2020 and is expected to reach USD 1679.72 million by 2026, at a CAGR of 11.42% over the forecast period 2021 – 2026. Paper-based invoices that are manual & physical in nature poses several challenges for recipients looking to quickly and effectively process them. According to PYMNTS, such invoices cost businesses about USD 16 to USD 22 per invoice to process; moreover, these are delivered via postmail and fax machines, which amounts to 72.4% and 43.8%, respectively
– With the growing propensity of businesses towards the digitalization and automating the process, the demand for process automation sees a surge in demand. According to PYMNTS, 42% of the B2B transactions are conducted by a paper check in 2019 compared to 81% in 2004.
Top Companies in the Global Professional Services Automation Market are Autotask Corporation (Datto Inc.), Mavenlink, Inc., Clarizen Inc., Deltek Inc., Financialforce Inc., Infor Inc., NetSuite Inc. (Oracle Corporation), Upland Software Ltd., Projector PSA Inc., Replicon Inc., Unanet Technologies, Workfront, Inc and Other
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-July 2020 – Oracle Corporation announced Oracle dedicated region Cloud@Customer, which is considered to be the Industry’s first fully managed cloud region that brings 100% of Oracle’s public cloud services, including Oracle Autonomous Database and Cloud applications, to customer datacenters.
-Feb 2020 – Clarizen, the company in enterprise collaborative work management, joined the McAfee CASB Connect Partner Program to rapidly secure its Clarizen One solution through self-service API connectors McAfee® MVISION Cloud.
Key Market Trends
BFSI Holds a Dominant Position in Professional Services Automation Market
– Automation in the banking industry helps the financial institutions in simplifying their operations, minimizing the operation costs, and optimizing their credit collection process, by automating the repetitive and time-taking backend tasks. It also helps the industry to evolve and eliminate redundant processes, and improve the credibility of the financial institutions. It further helps the institutions to deploy its valuable resources to various other important value- added projects and tasks where the involvement of humans is inevitable.
– Services automation is widely adopted in the BFSI sector as it automated transactional tasks at scale, such as processing invoices, data entry, reporting, cash collection, credit collection, payment to vendors, and many more. Recently, HSBC deployed Treasury APIs, which enables the treasurers to initiate, track and complete transactions efficiently and by enhancing visibility. The integration creates transparency in corporate payments and allows the finance managers make informed and dynamic cash and credit management decision.
North American Holds a Dominant Share of Professional Services Automation Market
– North America occupies a major share in the market. North America regional market includes the majority of industry technology leaders. These leaders are actively operating towards the progress of existing technologies as well as the growth of innovative market offerings. Greater demand is experienced owing to the quickly aging workforce in the region, automation facilitates smooth management and effective allocation of available resources.
– North America’s regional growth can further be attributed to the accelerated sprawl in the service industry and advancing technological developments. The regional organizations have also embraced the inorganic growth strategies to encourage their presence globally. For example, Oracle opted for collaboration and partnership to deliver new offerings in the market.
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Highlights of the Professional Services Automation Market Report::
- Detailed overview of Professional Services Automation Market
- Changing Professional Services Automation market dynamics of the industry
- In-depth market segmentation by Type, Application etc.
- Historical, current and projected Professional Services Automation market size in terms of volume and value
- Recent industry trends and developments
- Competitive landscape of Professional Services Automation Market
- Strategies of key players and product offerings
- Potential and niche segments/regions exhibiting promising growth.
The research includes historic data from 2015 to 2021 and forecasts until 2026 which makes the report an invaluable resource for industry executives, marketing, sales, and product managers, consultants, analysts, and stakeholders looking for key industry data in readily accessible documents with clearly presented tables and graphs.
Finally, Professional Services Automation Market report is the believable source for gaining the market research that will exponentially accelerate your business. The report gives the principle locale, economic situations with the item value, benefit, limit, generation, supply, request and market development rate and figure and so on. Professional Services Automation industry report additionally Present new task SWOT examination, speculation attainability investigation, and venture return investigation.
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Note: All the reports that we list have been tracking the impact of COVID-19 on the market. Both upstream and downstream of the entire supply chain have been accounted for while doing this. Also, where possible, we will provide an additional COVID-19 update supplement/report to the report in Q3, please check with the sales team.
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