AvidXchange

TL;DR

• Cloud-based accounts payable automation solution that digitizes invoice processing and payments
• Integrates with 200+ accounting systems and ERPs to streamline AP workflows
• Serves mid-market businesses across industries like real estate, construction, healthcare, and education
• Includes AI-enhanced invoice capture, automated approval routing, and electronic payments network

What is AvidXchange

AvidXchange is an accounts payable (AP) automation platform that transforms how businesses receive, manage, and pay their bills through AI-enhanced technology. As a comprehensive AP automation solution, it digitizes the entire invoice-to-payment process, eliminating manual data entry and paper-based workflows while providing real-time visibility into payables. The platform serves as a bridge between businesses and their suppliers, offering both AP automation software for finance teams and AP-as-a-Service solutions for ERP providers, backed by 25 years of industry expertise.

Key Features

• AI-Enhanced Invoice Processing: Automatically captures and extracts data from invoices using artificial intelligence, reducing manual entry errors and processing time by up to 90%.
• Automated Approval Workflows: Creates customizable approval routing based on business rules, ensuring invoices move through the right approvers without manual intervention.
• AvidPay Network: Provides access to one of the largest B2B supplier networks with multiple payment options including virtual credit cards, ACH transfers, and checks.
• 200+ Integrations: Seamlessly connects with major accounting systems like NetSuite, QuickBooks, Sage, Microsoft Dynamics, and industry-specific ERPs without disrupting existing workflows.
• AvidAnalytics Reporting: Delivers real-time insights and customizable dashboards to track AP performance, identify bottlenecks, and optimize cash flow management.
• Supplier Hub: Offers suppliers a dedicated portal for payment tracking, invoice status inquiries, and communication with dedicated support teams.
• Mobile Accessibility: Enables invoice approvals and payment authorizations from anywhere through mobile apps, supporting hybrid and remote work environments.

Who is AvidXchange for?

• Mid-market companies with 100–5,000 employees processing high volumes of invoices monthly
• Finance teams in real estate and property management companies managing multiple properties
• Construction companies requiring lien waiver management and project-based accounting
• Healthcare organizations including medical practices and hospital systems
• Educational institutions from K–12 schools to universities
• Community association management companies handling multiple HOA accounts
• ERP and accounting software providers seeking white-label AP automation solutions
• Financial services companies including banks and credit unions

Key Use Cases & Applications

• Multi-location invoice consolidation: Centralizing AP processes for businesses with distributed offices or properties into a single platform
• Construction project management: Managing subcontractor payments with automated lien waiver collection and compliance tracking
• Healthcare practice efficiency: Streamlining medical supply invoices and reducing administrative burden on clinical staff
• Real estate portfolio management: Processing maintenance, utility, and vendor invoices across multiple properties with property-level coding
• Educational institution modernization: Digitizing paper-heavy AP departments in schools while maintaining audit compliance
• ERP enhancement: White-labeling AP automation capabilities for software providers without building in-house solutions
• Remote finance team enablement: Supporting distributed teams with cloud-based invoice approvals and payment processing

Pros

• Reduces invoice processing time by up to 90% through AI-powered data extraction and automated workflows
• Provides extensive integration library with 200+ accounting systems, minimizing implementation disruption
• Offers comprehensive supplier network with multiple payment options and dedicated supplier support
• Includes industry-specific features like lien waiver management for construction and spend management for media
• Delivers proven ROI with 92% of customers reporting time savings and 90% experiencing improved productivity
• Supports remote work with full mobile functionality for approvals and payment authorization

Cons

• May be cost-prohibitive for small businesses processing fewer than 100 invoices monthly
• Pricing transparency is limited – requires sales consultation for quotes

Pricing Info

Pricing is not publicly available. You need to contact them.