Worldwide Accounts Receivable Applications Market Shares, 2023: The Customer Experience Comes into Focus

This IDC study examines the market shares of the leading vendors in the accounts receivable (AR) applications market."In 2023, the paradigm of accounts receivable shifted from mere payment collection to crafting personalized customer payment experiences. This evolution signifies a transformative approach where businesses are not just focusing on the financial transaction but are keenly investing in enhancing customer satisfaction through intuitive payment portals and flexible options. By prioritizing the customer experience, companies are not only accelerating cash flow but are also building trust and fostering stronger relationships. The future of AR management lies in personalizing engagement, making the customer payment experience a central pillar of financial interactions. This strategic shift underscores the importance of customer centricity in achieving sustainable success," said Kevin Permenter, senior research director, Enterprise Applications at IDC.