"Smart Strategies, Giving Speed to your Growth Trajectory"

Billing and Invoicing Software Market Size, Share, and COVID-19 Impact Analysis, By Product (Cloud-based, On-Premises), By Enterprise Size (Small & Medium Enterprises, Large Enterprises), and Regional Forecast, 2024-2032

Region :Global | Report ID: FBI107039 | Status : Ongoing

 

KEY MARKET INSIGHTS

Billing software organizes and systematizes the billing and invoicing process. It helps users to ensure timely and consistent collection of payments and reduces errors due to manual data entry. Architects, freelancers, utilities and telecommunication companies, and professional firms are using the billing and invoicing software. Billing software enables customers to create and send invoices to users more efficiently and flexibly, whereas invoicing software helps small businesses generate invoices via an automated process and send it to customers immediately via emails. It allows users to create customized and professional-looking invoices.


Further, invoicing software enables faster payments as it provides various payment options for users to choose the best suitable one, which fastens the payment process. It also provides reminders to users for late payments and thereby helps in effectively managing receivables. The invoicing software includes details of payment due, customer analysis, receivables, budgeting, and inventory management. Thus, invoicing software helps in financial accounting, thereby minimizing the scope of fraud. Using software tools allows brands to create an excellent and trustworthy image in the eyes of consumers.

However, the rising threat of cybersecurity and data breaches acts as a market restraint in the billing and invoicing software market.

Impact of COVID-19 on the Billing and Invoicing Software Market


The outbreak of the COVID-19 pandemic has led to a significant shift in distribution channels to e-commerce platforms, which in turn, is augmenting the utilization of e-invoicing systems.

Significant enhancements in legacy billing systems, such as the addition of cloud computing and Internet of Things (IoT) solutions to meet the changing dynamics of the utility industry is contributing to the market growth. Furthermore, introducing smart grid technology and smart meters to promote effective electricity transmission, reduce utility power costs, and restore power disturbances is significantly propelling the market growth.

Additionally, technology events and industry meet cancellations, factory, and office shutdowns, and reduced business activities were some of the significant factors faced by industries. Thus, technology, communications, and media were essential sectors that suffered severe disruptions due to the pandemic.

Key Insights


The report will cover the following key insights:


  • Micro Macro Economic Indicators.

  • Drivers, Restraints, Trends, and Opportunities.

  • Business Strategies Adopted by the Players.

  • Impact of COVID-19 on the Billing and Invoicing Software Market.

  • Consolidated SWOT Analysis of Key Players.


Analysis by Product


The cloud is anticipated to be the fastest-growing segment due to growing innovations and the remote working conditions caused by the COVID-19 pandemic. A cloud-based billing and invoicing software allow smaller businesses to take care of employees in a shorter span of time with fewer expenses leading to faster payment cycles. Cloud-based invoicing software can fasten company record keeping by providing users with the precise and latest figures on cash flow. These elements are targeted to make cash management stress-free for users without depending on paper invoices.

However, the cloud-based billing and invoicing software enable small businesses to quickly and accessibly assign billing tasks to staff. The user does not have to be bound from department to department or manually send emails to each team member. With these tools, the user can assign significant roles to staff that bears weight to access levels. This solution allows users to share bills, invoices, and cost predictions with the team, making work stress-free.

Regional Analysis


To gain extensive insights into the market, Request for Customization


The global billing and invoicing software market are divided into five regions: North America, Europe, Asia Pacific, Middle East & Africa, and South America. North America and Europe are estimated to hold the largest market share. This can be recognized as the region's high technology awareness, which leads to the early adoption of new software. Therefore, Asia Pacific is estimated to be the fastest-growing market due to the fast-growing economies and needs in the region.

The distribution of the billing and invoicing software market by region of origin is as follows:


  • Asia Pacific – 16%

  • North America – 49%

  • Europe – 26%

  • The Middle East and Africa – 6%

  • South America – 3%


Key Players Covered


The key players in the market include FreshBooks, Zoho Invoice, TimeCamp, PaidYet, Everhour, SlickPie, Hiveage, TopNotepad, Dynamics 365, Blinksale, MONEI, Bitrix24, Elorus, HarmonyPSA, Chargebee, Xero, Clio, Avaza and Time Tracker.

Segmentation
















By Product


By Enterprise Size


By Geography



  • Cloud-based

  • On-premises




  • Small & Medium enterprises

  • Large enterprises




  • North America (U.S., Canada, and Mexico)

  • Europe (U.K., Germany, France, Italy, Spain, Russia, Benelux, Nordics, and the Rest of Europe)

  • Asia Pacific (China, India, Japan, South Korea, ASEAN, Oceania, and the Rest of Asia Pacific)

  • Middle East & Africa (Turkey, Israel, GCC, North Africa, South Africa, and the Rest of MEA)

  • South America (Brazil, Argentina, and the Rest of South America)



Key Industry Developments



  • In September 2022, Sysco Software Solution collaborated with Dooap AP, a cloud-based AP automation solution provider, to offer multiple automated accounts, delivering improved invoice processing and analytical capabilities.

  • In October 2021, FreshBooks, a prominent cloud accounting software firm, acquired a Germany-based company, Fastbill, to streamline and simplify workflows for their clients. With this acquisition, Fastbill enables the adoption of digital tools for small businesses globally.





  • Ongoing
  • 2023
  • 2019-2022
  • Pre Book
Multi-report Purchase Plan
    A Customized Plan Will be Created Based on the number of reports you wish to purchase
Information & Technology Clients
Samsung
Fujitsu
Panasonic
Dell
Go daddy
Client Testimonials

“We are quite happy with the methodology you outlined. We really appreciate the time your team has spent on this project, and the efforts of your team to answer our questions.”

- One of the largest & renowned medical research centers based in the U.S. on a report on the U.S. NIPT Market.

“Thanks a million. The report looks great!”

- Feedback from a consultant on a report on the U.S. Beef Market.

“Thanks for the excellent report and the insights regarding the lactose market.”

- Brazil based company specializing in production of protein ingredients.

“I liked the report; would it be possible to send me the PPT version as I want to use a few slides in an internal presentation that I am preparing.”

- Global Digital Services Agency on a report on the Global Luxury Goods Market.

“This report is really well done and we really appreciate it! Again, I may have questions as we dig in deeper. Thanks again for some really good work.”

- U.S.-based biotechnology company focussing on treatment of chronic pain.

“Kudos to your team. Thank you very much for your support and agility to answer our questions.”

- Europe-based provider of solutions to automate data centre operations.

“We appreciate you and your team taking out time to share the report and data file with us, and we are grateful for the flexibility provided to modify the document as per request. This does help us in our business decision making. We would be pleased to work with you again, and hope to continue our business relationship long into the future.”

- India-based manufacturer of industrial and specialty intermediates with a strong global presence.

“I want to first congratulate you on the great work done on the Medical Platforms project. Thank you so much for all your efforts.”

- One of the largest cosmetics company in the world.

“Thank you very much. I really appreciate the work your team has done. I feel very comfortable recommending your services to some of the other startups that I’m working with, and will likely establish a good long partnership with you.”

- U.S. based startup operating in the cultivated meat market.

“We received the below report on the U.S. market from you. We were very satisfied with the report.”

- Global hearing aids manufacturer.

“I just finished my first pass-through of the report. Great work! Thank you!”

- U.S. based solar racking solutions provider.

“Thanks again for the great work on our last partnership. We are ramping up a new project to understand the imaging and imaging service and distribution market in the U.S.”

- World’s leading advisory firm.

“We feel positive about the results. Based on the presented results, we will do strategic review of this new information and might commission a detailed study on some of the modules included in the report after end of the year. Overall we are very satisfied and please pass on the praise to the team. Thank you for the co-operation!”

- Germany based machine construction company.

“Thank you very much for the very good report. I have another requirement on cutting tools, paper crafts and decorative items.”

- Japanese manufacturing company of stationery products.

“We are happy with the professionalism of your in-house research team as well as the quality of your research reports. Looking forward to work together on similar projects”

- One of the Leading Food Companies in Germany

“We appreciate the teamwork and efficiency for such an exhaustive and comprehensive report. The data offered to us was exactly what we were looking for. Thank you!”

- Intuitive Surgical

“I recommend Fortune Business Insights for their honesty and flexibility. Not only that they were very responsive and dealt with all my questions very quickly but they also responded honestly and flexibly to the detailed requests from us in preparing the research report. We value them as a research company worthy of building long-term relationships.”

- Major Food Company in Japan

“Well done Fortune Business Insights! The report covered all the points and was very detailed. Looking forward to work together in the future”

- Ziering Medical

“It has been a delightful experience working with you guys. Thank you Fortune Business Insights for your efforts and prompt response”

- Major Manufacturer of Precision Machine Parts in India

“I had a great experience working with Fortune Business Insights. The report was very accurate and as per my requirements. Very satisfied with the overall report as it has helped me to build strategies for my business”

- Hewlett-Packard

“This is regarding the recent report I bought from Fortune Business insights. Remarkable job and great efforts by your research team. I would also like to thank the back end team for offering a continuous support and stitching together a report that is so comprehensive and exhaustive”

- Global Management Consulting Firm

“Please pass on our sincere thanks to the whole team at Fortune Business Insights. This is a very good piece of work and will be very helpful to us going forward. We know where we will be getting business intelligence from in the future.”

- UK-based Start-up in the Medical Devices Sector

“Thank you for sending the market report and data. It looks quite comprehensive and the data is exactly what I was looking for. I appreciate the timeliness and responsiveness of you and your team.”

- One of the Largest Companies in the Defence Industry
We use cookies to enhance your experience. By continuing to visit this site you agree to our use of cookies . Privacy.
X