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Most Active Private Real Estate Firm in the Country Selects AvidXchange
Charlotte, NC (November 12, 2008) - The Hanover Company has selected AvidXchange and Intuit Real Estate Solutions (IRES/MRI) for their back-office platform. AvidInvoice for MRI is a web-based invoice management system designed to automate the way companies manage their accounts payable documents. The AvidInvoice module provides finance executives and AP managers with enforceable controls, powerful reporting and added "visibility" to all invoice documents in their organization while providing invoice "approvers" with features that make it easier to apply accounting codes and approve or dispute invoices.
"During the decision process to move our payables to an automated system, AvidXchange was the only solutions provider we considered chiefly due to the strong partnership they have built with Intuit Real Estate Solutions. Early on, we recognized the enormous value in both parties' commitment to further develop the product suite and most importantly in a manner that is forward-thinking. We had very specific needs as it pertained to our expanding portfolio and felt confident that AvidXchange would help us achieve those goals and beyond," stated Pam Talbert, Accounting Manager at The Hanover Company.
"Our partnership with IRES provides our clients with a high level of comfort in knowing that their MRI system will be fully supported and integrated with the automation of their "payables." For MRI clients, this means that implementing a "paperless" payables process will increase AP productivity, reduce overhead and provide cost containment that could more than justify a very reasonable ROI," added Michael Praeger, Chief Executive Officer at AvidXchange.
About The Hanover Company
Founded in 1987, The Hanover Company, headquartered in Houston, Texas, is a private real estate firm that has developed more than 38,000 units across the country and over $7.5 billion in project costs. Currently, Hanover has projects underway in California, Colorado, Florida, Maryland, Massachusetts, North Carolina, Pennsylvania, Texas, Washington State and Washington, DC. Additional information on The Hanover Company can be found at www.hanoverco.com.
About AvidXchange
Founded in 2000, AvidXchange, Inc., headquartered in Charlotte, North Carolina, is the industry-leading provider of paperless invoice management and electronic purchase order tools for real estate companies in the office, retail, multi-family and industrial sectors. More than 35 public REITs and over 140 real estate companies are managing their payables with AvidInvoice, the SAS 70 Certified AP workflow solution that eliminates lost invoices, minimizes late fees/overnight courier charges and reduces invoice processing costs by up to 50%. Additional information on AvidXchange can be found at www.avidxchange.com.
For Immediate Release
Contact: Michael Praeger
mpraeger@avidxchange.com
704.971.8101
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