AvidXchange is an automated accounts payable platform, also referred to as AP software services. While there are numerous accounts payable solution providers available in today’s market, AvidXchange may have all of the features you are looking for.
By automating your accounts payable, you can simplify how you operate your business. It saves money, helps you scale for growth, and is perfect for medium- to large-sized companies that have large annual revenues.
Unleash your team’s efficiency with AvidXchange’s suite of accounts payable solutions and say goodbye to filing cabinets and lost invoices. Accounts payable process automation with AvidXchange frees your team from the manual AP tasks that are slowing down your business, all while giving you greater control over your spend management with the click of a button.
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AvidPay is an industry-leading billing software for accounts payable solutions, as it allows you to pay all your business bills electronically. The process is fast and secure, which is essential for efficient AP software solutions.
Automated billing with AvidXchange can help ensure that your transactions will be handled with efficiency and security. In fact, we boast a network of over 700,000 thousand suppliers, all of whom have used AvidXchange in the past five years. AvidXchange processes millions in transactions annually.
With AvidXchange, you can transition to a completely paperless AP system. You can choose from a valuable selection of invoicing and billing help in an accessible, personalized suite. AvidXchange is hosted on a private cloud that allows for easy remote access, so your AP team is enabled to always access what they need on the platform.
Take advantage of OCR technology to automatically scan invoices to automatically enter invoicing data into AvidXchange for streamlined intake. By reducing manual data entry, you can reduce errors and save time at the same time.
AvidXchange has plenty of integrations with other accounts payable software companies, such as Sage Intacct, Microsoft Dynamics GP, and Oracle NetSuite. If your accounts payable team has already adopted similar accounting software, you can easily integrate that software with AvidXchange’s AP automation platform.
AP solutions software should solve the problem of inefficient billing workflow and invoicing approval methods. AP software companies should not complicate matters for your accounts payable team.
Your current workflow and accounts should be able to work seamlessly with your accounts payable software. AvidXchange can be integrated with other software accounting platforms, so consider the list of over 210 software integrations and learn if AvidXchange can integrate with your existing software.
The goal of having essentially complete accounting software integration is to have AvidXchange improve and automate your accounts payable process. As an accounts payable organization, AvidXchange can complement existing accounting software without requiring additional work from your accounting department.
Here are some examples of accounting software companies that integrate with AvidXchange:
One example is Sage Intacct. If you are already a Sage user, then consider how AvidXchange can help with invoice and payment processing while using Sage software.
The integration AvidXchange has supported includes a touchless process with configurable 2- and 3-way PO matching. This provides flexible approval workflows with enhanced internal controls, which is useful for increasing efficiency.
Open Systems accounting software also works with AvidXchange. Open Systems’ TRAVERSE ERP is a popular software as it helps scale your business while being affordable and customizable.
TRAVERSE and AvidXchange are integrated partners, which means you get robust business software coupled with easy methods to process payable invoices. You can have a paperless payments system, allowing for easy audit trails and higher efficiency.
AvidXchange’s cloud-based, integrated payment automation solution for TRAVERSE users helps facilitate up to 100% of all B2B payments. No matter who the vendor is or what their preferred payment method is, you can pay using secure and enhanced channels as long as they are enrolled in the AvidPay Network.
Another featured integration of AvidXchange is for NetSuite accounts payable. Oracle NetSuite users get increased security, and they get a simpler way to process invoices and make payments. In addition, you would be able to earn more predictable e-payment incentives with AvidXchange and NetSuite.
There are more than 210 integrations currently, enabling a truly streamlined workflow. AvidXchange is a good option to automate accounts payable, and AvidXchange may be able to integrate with your existing software systems for additional workflow and efficiency benefits.
The best automated invoice processing software emphasizes automating routine and repetitive tasks. AvidXchange strives to provide top-notch AP software services automation for middle-market businesses. On top of invoice processing software, AvidXchange’s AP automation services also include more secure and automated bill payments. With this software, you can pay vendors and suppliers via multiple payment methods.
Efficiently managed payment solutions can result in improved supplier relations if they don’t receive any delayed payments, as well as more satisfied leadership if the accounts payable and finance team can provide digital records and real-time visibility into anything in your workflow. The best accounts payable automation software aims to provide these features.
AvidXchange’s platform helps your team gain more control and visibility. When your accounts payable team is going through the invoice approval stages, AvidXchange can help automate the entire process.
For AP teams relying on invoice approval request emails to process invoices, switching to automated software processes can improve visibility into invoice approval and reduce friction between approval steps. When you can track invoices in AvidXchange, it reduces the need for constant communication amongst your team to manage the approval and payment processes.
By helping you adhere to your pre-existing internal controls, AvidXchange lets you adjust the software and workflow based on your current workflow so you don’t need to waste too much time ramping up with a new platform. You can set permissions and have complete access to a clear audit trail from purchase order to payment.
While automation results in fewer mistakes, this is not the only concern that many middle-market companies may express. Fraud is a legitimate concern for all businesses. Through AvidXchange’s more secure and reliable platform that emphasizes control and visibility, your company can reduce fraud risk.
AvidXchange is a cloud-based software platform. This allows for an incredibly efficient and more secure accounts payable solutions software. Cloud-based accounts payable solutions like AvidXchange can be far more convenient and flexible for your team to use.
Because AvidXchange has a private cloud, that also means information you put into the software is more safe and secure. You can track accounts payable activity and manage documents on the cloud-based platform.
Each year, AvidXchange processes millions of transactions from our clients paying their suppliers. The AvidPay Network has over 700,000 suppliers and counting. When you pay bills automatically with AvidXchange, suppliers in the AvidPay Network can automatically receive payment according to their preferences. For other suppliers, you can adjust your payment methods.
AvidXchange can offer convenient access to the app itself. If you use AvidXchange for your invoice and billing needs, you will be able to access the platform at any time and from anywhere. AvidXchange is hosted on a private cloud platform, so you can access the app remotely. If you want to check on the approval status of an invoice, you can track progress for invoices by accessing AvidXchange from any device.
Are you looking for AP automation software for small business?
AvidXchange is an AP automation software solution built for companies that have a complex invoice processing system. That means middle-sized companies with large and complicated AP cycles can fully utilize AvidXchange’s robust software. In the long term, they can save money, time, and resources by taking advantage of the many features AvidXchange offers.
That said, AvidXchange is not necessarily ideal for smaller businesses. If you are a smaller company without the volume or complexity of invoices that larger companies have, your business might not benefit from investing in AvidXchange. That is because a smaller business may not be able to take full advantage of AvidXchange’s automation features.
If you are looking for small business AP automation, then there are other options available. When structuring an accounts payable system for small business, you may want to consider more basic software first. If you are working in one of the industries that AvidXchange caters to, then AvidXchange can automate your AP in the future. When you have outgrown your accounts payable system and need help automating the process, AvidXchange can help make the transition to AP automation software easier with its hundreds of software integrations.
The accounts payable process for small business teams may not typically involve high volumes of transactions with hundreds or even thousands of vendors in the same way medium or large companies often do. AvidXchange is, however, an ideal accounts payable software for middle-market businesses. Moreover, even though AvidXchange may not be accounts payable for small businesses, consider the integrations that may fit with your current operational systems.
Finding accounts payable automation tools can help improve the efficiency of your AP team. The accounts payable automation solutions from AvidXchange can help automate AP including: purchase order automation, invoice automation, and bill payment automation.
With AvidXchange’s AP software solutions, you can handle accounts payable processes electronically. AvidXchange can help you transition to a completely paperless accounts payable system. Routine tasks such as data entry can also be automated.
By reducing manual data entry, you can save your accounts payable team a lot of time and effort. When following accounts payable automation best practices, leveraging software solutions can improve the efficiency of your AP automation workflow.
When your team needs to get an invoice approved, it usually requires careful tracking and communication. If you rely on email communication during the approval process, that risks delays, miscommunication, and confusion and the invoice might be lost.