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.

FAQs

How long does AvidXchange implementation typically take?

Implementation timeline varies based on organization complexity and integration requirements. Most mid-sized companies can expect 30-60 days for full deployment, including system integration, workflow configuration, supplier onboarding, and team training. Larger enterprises with multiple entities or complex approval hierarchies may require 60-90 days.

Does AvidXchange support international payments and multi-currency invoices?

AvidXchange primarily focuses on domestic US payments through its AvidPay Network. While the platform can process invoices in multiple currencies, international payment capabilities are limited compared to global-focused competitors. Companies with significant international supplier bases may need supplementary payment solutions.

What level of accounting system integration is required to use AvidXchange?

AvidXchange offers varying levels of integration from basic file imports to real-time API connections with 200+ accounting systems. The platform can operate with minimal integration for simple implementations, but full two-way sync is recommended for optimal efficiency, automatic GL coding, and real-time reporting capabilities.

How does AvidXchange handle supplier adoption and onboarding?

AvidXchange manages supplier onboarding through a dedicated team that contacts suppliers directly, explaining payment options and benefits. Suppliers can choose their preferred payment method (virtual card, ACH, or check) and access the Supplier Hub for payment tracking. The company reports high supplier adoption rates due to faster payment options and dedicated support.

What security measures does AvidXchange have in place for financial data?

AvidXchange maintains PCI DSS compliance, SOC 2 Type II certification, and bank-level encryption for all financial data. The platform includes role-based access controls, audit trails for all transactions, multi-factor authentication options, and dedicated fraud detection systems. They also provide a Trust Center with real-time security status updates.

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