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by AvidXchange
by AvidXchange
AvidXchange software streamlines accounts payable and payment processes for mid-market businesses. It replaces manual processes with a digital suite, enhancing efficiency, accuracy, and speed. It automates every aspect of accounts payable, including data entry, approvals, document management, and reporting. Invoice management offers real-time visibility and quick submission features. Payment processing includes secure, flexible options like Mastercard, AvidPay Direct, or check, reducing costs. Purchase orders and procurement provide automated invoice matching and requisition creation. Supplier and vendor management ensures timely payments according to preferences. Integration with accounting systems tightens controls and improves visibility. AI and machine learning facilitate quick data entry and customizable approval workflows. Custom industry solutions cater to various sector requirements. Users have 24/7 access to tools and resources for remote tasks. By automating accounts payable, companies can reduce costs by up to 60 percent, saving time and minimizing errors.
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AvidXchange demonstrates strong financial growth, with a 19.7% year-over-year increase in total revenue in Q3 2023 and a 24.4% increase in Q4 2022. Positive swings in adjusted EBITDA and a significant reduction in net loss signify strong operational execution. AvidXchange serves over 8,800 businesses, making payments to more than 965,000 suppliers over five years, indicating market leadership and scale. It offers comprehensive AP automation features, including invoice management, payment processing, and integration with accounting systems. Outstanding customer support, cloud-based flexibility, and industry-specific solutions contribute to customer satisfaction. A strong balance sheet and net cash position position AvidXchange for continued growth. The AvidPay network, with over 825,000 suppliers, offers expedited supplier payments. Strategic investments in innovation and product development further enhance its competitive edge.
per User per Month
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