Lumbering Through Manual Process, Oakbrook Leaves Paper Behind

Charlotte, NC (August 27, 2009) Oakbrook Corporation has selected AvidInvoice, AvidXchange's flagship product, as its solutions provider for payables management and to serve as the system of record for payable transactions across the entire company. 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.

About Oakbrook Corporation

Founded in 1987, Oakbrook Companies engages in real estate property management, leasing and development activities. Subsequently, the firm expanded into brokerage and consulting services. During the year 2000 Oakbrook Commercial Real Estate, Inc. dba Grubb & Ellis|Oakbrook was organized and affiliated with the Grubb & Ellis Company. These properties are located in over 100 communities and include over 7,500 apartments. The firm also manages a portfolio of 39 office/industrial buildings in Madison, Wisconsin consisting of over 1.3 million square feet of space. The Brokerage unit of Oakbrook Corporation has been involved as agent for buyers and sellers in connection with the sale of over 100 buildings and land parcels with a sales value of approximately $213,000,000. The construction services division of Oakbrook Corporation specializes in the planning and construction management of tenant improvement and building remodeling projects. The firm typically completes between 30 and 40 projects per year with annual contracts completed exceeding $3,000,000. Additional information on Oakbrook Corporation can be found at www.oakbrookcorp.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 37 public REITs and over 180 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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