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Resources   /   Glossary

Online Invoicing System

By offering an online invoicing system where accounts payable teams may receive, track, and approve invoices on one cloud-based platform, AvidXchange could simplify your accounts payable processes while still allowing you to customize your workflow. More specifically, we provide a variety of features that can help your company pay its bills on time, whether remotely or in the office. We could also help ensure that your suppliers receive payments on time according to their payment preferences.

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Many middle-market companies could find themselves in need of an invoice desktop app that may allow them to forgo manual accounts payable processes in favor of more streamlined electronic processes. AvidXchange could offer an online invoicing system where your invoices are coded automatically, assigned to the appropriate channels, and then routed for approval without the need for a complicated paper trail. At the end of the day, excessive paper use could be consuming a large portion of your overall budget. From paper checks to envelopes, these supplies could be an enormous expense that requires resources that could be allocated elsewhere. Automated billing software could reduce your overhead. At AvidXchange, we have found that middle-market companies that have adopted an online invoice system could enjoy cost savings.

With AvidXchange, your accounts payable team may no longer have to worry about handling invoices manually or even abandoning your current approval workflow in favor of a new system. AvidXchange could be adapted to your current systems with automation on the forefront. With a centralized cloud-based platform, accounts payable teams could monitor the statuses of invoices through all steps of the approval process simply by logging into the system and viewing the invoice dashboard. This system could allow accounts payable teams a greater sense of control over their invoice approval process, as they can view the system from any device at any time they desire.

Invoicing Software Free

Many business owners understandably want to save money. As such, when you spot invoice software free of charge online, you may be tempted to jump on the opportunity. While a free invoice software download may be alluring on the surface, there are some considerations you should take into account before choosing it over investing in a paid option.

Most free invoice software––be it for larger enterprises or free invoice software for small businesses––lacks the automation features provided by a platform like AvidXchange. If you do find a free invoice app, it may not be able to offer much more than a digital interface where you can manually input your invoice data and then manually transfer the data to get coded and approved.

Moreover, a free invoice maker app will likely allow you to input invoice information manually; however, in terms of actually processing those invoices, you will have to manage that yourself. Needless to say, an online invoice system like AvidXchange may be worth the investment if you are looking to streamline the invoice approval process and relieve the accounts payable department of your middle market company of some menial work. That way, they could instead potentially focus on the long-term growth of the business as a whole.

Invoicing Software for Small Business

It is understandable that small business owners may want to seek out simple billing software for small business. That said, small businesses may not be able to make full use of all the features that AvidXchange offers in terms of automation and customization for industries known for complicated invoicing processes. Invoicing software for small business may not require such features.

That said, AvidXchange’s invoicing software could be scaled to meet the needs of middle-market companies across many different industrie with complex invoicing processes. Some industries known for complicated invoicing processes that AvidXchange could serve include real estate, banking, or health care.

Moreover, the best invoicing software for contractors could ideally be integrated with existing systems, particularly the most popular construction accounting programs. That is why with AvidXchange, you may not have to abandon the accounting system and workflow to which your accounts payable team has grown accustomed. AvidXchange allows for over 210 integrations with programs most prevalently used among middle-market companies. The platform could also work with your existing accounting software to help automate data entry, payment management, and invoice approval. That is because AvidXchange’s online invoice system would help ensure that invoices are acquired, coded, and then sent to the appropriate workflow. After approval, the invoice would be directed into the accounting system so that the payment can be automatically processed.

Invoice Generator

Presently, there are many different ways to generate an invoice. Some accounts payable teams may find that suppliers may opt to use a free invoice maker to generate an invoice, which they then direct your way. Some suppliers might even find a free invoice template online and make use of that. Reviewing so many different invoices and parsing their nuances can be a time-consuming endeavor for even the most efficient accounts payable departments.

Fortunately, no matter how the invoices that your suppliers send you are created, AvidXchange could easily work with a range of different format of invoice that a free invoice generator offers. No matter how the invoice generator software produces its invoices, AvidXchange will help collect invoices and process them via a standardized method so that the accounts payable team can view every invoice in the same manner That way, you do not have to worry about new invoice formats that you have never seen, even if the format looks non-conventional or difficult to parse manually.

An invoice generator may not always produce perfect invoices. In some cases, it may produce invoices that are difficult to read, with numbers that are difficult to read even to the most discerning of eyes. Some may worry that software would struggle to interpret such strangely formatted invoices. Fortunately, AvidXchange may be able to interpret such invoices and ensure that they are processed accurately and promptly. Even with strangely formatted invoices, AvidXchange could still help ensure that your suppliers are paid on time and according to their preferences.

Invoice Billing Software

With AvidXchange’s invoice billing software, your accounts payable team may be able to streamline the invoice approval process. The entire process––from the moment a supplier sends you an invoice to the very second that invoice is approved––could be handled via our digital platform.

Once an invoice is scanned into AvidXchange, our billing system software could automatically search it for data that can determine where the invoice should be sent next. From that point, it will be sent for approval to a designated person so that it can then be paid. In just a few clicks, suppliers could receive prompt, accurate payments.

Finally, it is worth noting that invoice statuses can be viewed on our platform’s dashboard on any device so long as an internet connection is available. You will have 24/7 access to this cloud-based system. In this respect, AvidXchange may be the ideal billing software for tracking and managing the entire accounts payable process, from start to finish. Best of all, we have over 700,000 suppliers in our supplier network, so your suppliers can get paid how they want to get paid. You may not have to worry about your supplier having a payment processed via our software, because our software already takes all payment preferences into account.

Invoicing Software

Not all automated billing and invoice software are the same. That is why many middle-market companies may try to seek out the best invoice app to better ensure that their accounts payable teams can receive, track, and approve invoices. With AvidXchange, managing these tasks electronically may be a considerably more manageable task. That is because our invoice software can aid in invoice automation by making use of machine learning.

With AvidXchange electronic billing and invoicing software, invoices could be automatically coded and delivered to accounts payable in one standardized invoice format. As such, even if you receive an invoice from a supplier that is difficult for accounts payable to parse manually, the invoicing software could extract the most essential data from the invoice to ensure that it can be processed. That is where the standardization of invoice format can come into play. Additionally, AvidXchange can automatically assign invoices to the correct workflow and route them to the right person for approval.

Moreover, our platform could decrease fraud risk by reducing paper checks and increasing both visibility and internal controls. This is because our online invoice system allows your accounts payable team to take control of the platform for complete transparency. With our cloud-based system that is available anytime, you can track the invoices through every step of the process from any location, so long as you have access to a solid internet connection.

Finally, because the invoice approval process can be managed electronically, your accounts payable team may be able to eliminate paperwork and its associated costs. The resources and money often devoted to printing, postage, and other expenses may be able to be allocated toward other areas that can aid in the growth of your business.

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