By 2016, financial service providers worldwide spending on payables automation systems will increase by more than US$220 million. Our estimates put the compound annual growth rate of payables automation systems spending at 6% annually from 2012-2016.

Law n°2012-387 of March 22nd 2012 on the simplification of the law and the reduction of administrative formalities has introduced modifications to the regulations applicable to the drafting of terms and conditions. Such law transposes European directive 2011/7/EU of February 16th 2011 on combating late payments in commercial transactions.