AVIDXCHANGE | AP AUTOMATION

AvidXchange is the industry leader in automating invoice and payment processes for mid-market businesses. Founded in the year 2000, AvidXchange processed 9.5 million payments last year across its network of more than 600,000+ suppliers, transforming the way 5,500 customers in North America pay their bills. AvidXchange is distinguished as a global fintech unicorn and one of the fastest-growing technology companies in the U.S. with 1,300 employees in seven office locations.

HIGHLIGHTS

AvidInvoice

ELIMINATE PAPER INVOICES AND STREAMLINE APPROVALS WITH MORE VISIBILITY AND CONTROL

Receive, track and approve invoices in the workflow you follow today, but without the inefficiencies and paper
Eliminate manual data entry, reduce errors and save valuable time for your AP team
Gain more visibility and control than ever before by checking invoice statuses from anywhere, anytime on your mobile device

AvidPay

FLEXIBLE, MANAGED PAYMENTS BACKED BY THE LARGEST SUPPLIER NETWORK

Make fast and secure payments to suppliers backed by the largest supplier network
Create custom workflows with 24/7 visibility into payment status and approvals
Reduce processing costs by eliminating check printing, envelopes, postage and time spent following up on uncashed checks

AvidPay Supplier Network

TOOLS AND SERVICES DESIGNED TO STREAMLINE, PREDICT AND ACCELERATE YOUR PAYMENT PROCESS

Payment services with an existing network of 600,000+ suppliers servicing every industry
AvidXchange’s supplier services team of more than 400-person organization dedicated to managing payment inquiries and helping suppliers shift to e-payments, removing the burden from buyers like you.
AvidXchange’s supplier operations team monetizes 30-45% of your pay file.

BENEFITS

AvidInvoice

Eliminate paper invoices
1. Reduce errors, processing time, and manual data entry
2. Manage and submit invoices electronically
Increase visibility
1. Gain visibility into and control over the status of approvals
2. Provide a process that allows auditors visibility to search invoices to make auditing season a breeze
Streamline and customize workflows
1. Design custom approval processes that meet your business needs
2. Easily track and manage approvals from any device

AvidPay

Maximize Efficiency
1. Eliminate the need to print, stuff, sign, or mail checks
2. Drive consistency in process for all payment methods and all suppliers
3. Leverage the power of our full-service payment team
Minimize Risk
1. Avoid over-exposing bank account data
2. Highest e-payment rates in the industry
3. Payee Positive Pay included for every check
Drive Predictable Return on Investment
1. Eliminate hard costs (check stock, postage, Positive Pay bank fees, etc.)
2. Reduce labor costs (check aging, follow up, supplier inquiries)
3. Simple pricing with e-payment incentives that enable predictable and forecastable ROI

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