AvidXchange is an accounts payable software that could help you transition to a paperless system of accounts payable. You could simplify and automate your bill payments, which are then all easily viewable on AvidXchange’s dashboard.
AvidXchange’s suite of paperless billing software helps middle-market companies automate their accounts payable workflow in a way that may be more convenient for the accounts payable team. Billing software might also help expedite accounts payable payment cycles by minimizing the time it takes to receive, capture, and access data.
The best online payment processing solutions can often streamline tasks that accounts payable teams typically handle manually. With automated online payment processing, AvidXchange can help middle-market and large companies cut costs and run more efficiently.
Moreover, AvidXchange is a platform backed and utilized by a growing network of more than 700,000 suppliers. The notable number of suppliers who accept AvidXchange allows you to safely and quickly make bill payments through AvidXchange.
Fraud risks are also lowered with having an electronic bill payment automation software. Keeping a full digital audit trail can be legally beneficial, preventing your business from unwanted payment complications and miscommunications.
With AvidXchange’s payment software for payment processing, you do not have to completely replace your current workflow and system of record. Rather, AvidXchange can work through integration into your pre-existing workflow. That way, your accounts payable team may worry less about losing your data or ceding any control over your invoicing and bill processes.
Payment Processing Software
What is payment processing software? The best payment processing software can often pay bills on your accounts payable team’s behalf with security and efficiency in mind.
Our industry-leading AvidXchange bill payment software can help you make fast bill payments to suppliers when you need them.
AvidXchange is backed by a network of over 700,000 suppliers and is used in many industries with complex invoicing processes, such as banking, real estate, construction, and healthcare.
AvidXchange’s bill payment automation software can help you leverage e-payment adoption and save money and time with our digital payment options.
With AvidPay, you can scale for growth, reduce fraud risk, and work remotely. AvidXchange could also manage your bill payments for you, expediting the process. If you integrate your existing accounting system to the software platform, then AvidXchange can send an ACH transfer from your business bank account to an AvidXchange trust account. Then, AvidXchange can complete the payment process for you, and automatically record the payment in your accounting software.
When seeking online payment processing software, it may be best to forgo using free software which may not allow for the most efficient and best ACH payment processing. AvidXchange can then file a digital record on your AvidXchange account that will include everything you need at the end of the year for reconciliation of payment.
Payment Processing Companies
If you are looking for payment processing companies that can help you streamline your accounts payable, you may want to find one that allows you tackle the process digitally. AvidXchange can help reduce paperwork in the accounts payable process by going completely digital on our one convenient platform.
One main benefit of going paperless in your AP process with AvidXchange is that our software can help finance leaders cut down on operational costs.
Going paperless can potentially help your business scale for growth and save money. This is especially true for middle-market and large companies that may spend a substantial amount on their invoicing and bill payment processing. Your business could save a substantial amount on paper costs, postage, and other operational expenses for processing invoices and bill payments.
In addition, one advantage that AvidXchange may offer compared to other payment software companies is that we can help automate your accounts payable workflow. You can choose to track, receive, and manage your bill from purchase order to bill reconciliation, all on AvidXchange’s single platform.
While other payment processing software companies, especially ones that might provide free bill payment software, may be cheaper, they may present issues with security. They may also lack the convenience of AvidXchange, where you can check your bill statuses at any time, from anywhere.
Cheapest Online Payment Processing
The main reason why free payment software may not be as helpful as other payment processing is the potential lack of good automation features.
Unlike many free online payment processing systems, a platform like AvidXchange often includes automation abilities for more efficient accounts payable. They may also have more reliable security measures in place.
Free online payment processing software will probably at best only grant you a free invoice processing software with limited capabilities. You would still have to complete a ton of manual work with the cheapest online payment processing options.
Free payment platforms supply you with a digital interface that lets you manually input invoice data, and then manually transfer the data to get coded and approved.
Whereas free software won’t be able to streamline the payment approval process or automate bill payments, AvidXchange can simplify the entire workflow for your accounts payable team.
Another issue with free payment platforms that have payment processing software open source is the possible security concerns.
With AvidXchange, you could pay your suppliers more efficiently with flexible, managed payment options, including:
- Credit Card
- AvidPay Direct (our Enhanced Direct Deposit option)
It can take a significant amount of time to set up an invoice processing system using free or cheap billing invoicing software, without even receiving effective automation at the end for your efforts.
Meanwhile, AvidXchange’s suite of software can be easy to use and integrate, which in turn can streamline and automate your workflow.
Online Payment Software
AvidXchange is built with complex industries in mind. If your business belongs to an industry with complex invoicing and billing processes, you may be able to take advantage of our billing software to streamline payment processes.
1 in 4 banks across the United States work with AvidXchange to automate their invoicing process. This includes the receiving, approving, and paying of invoices.
You can choose to add AvidXchange’s simple billing software to your accounts payable workflow. Our automated bill payment software allows you to make 100% of your bill payments electronically if you choose. AvidXchange’s specialized software for banking can help your team work more efficiently, reduce risk, and gain extra visibility and control over the process.
Our invoice-to-pay solution eliminates paper from the bill payment process. More specifically, AvidXchange could simplify and eliminate manual signing, stuffing, stamping, and the need to send costly stacks of paper checks. Through our one convenient platform, your AP team may review, code, and approve payments from one centralized system.
With AvidSuite for Financial Services payment processing software for banks, you can review, code, and approve payments with a few easy steps.
The best payment software and invoice software in the banking industry offers transparency through every step of the process. Thanks to AvidXchange’s cloud-based software for the banking industry, you may gain 24/7 access and visibility into all of your invoice and bill payment data. AvidXchange can also help enhance your financial security. With our suite, you may be able to leverage e-payment adoption, while also offering you and your vendors more flexible and secure payment processing options.
AvidXchange’s payment app is currently widely accepted by a network of over 700,000 suppliers; as a result, you will likely be able to find ways to pay your suppliers on time with our online payment software.
The best online payment platform allows businesses to make e-payments with efficiency in mind. AvidXchange has over 700,000 suppliers in our supplier network where their bill payment preferences are integrated into AvidXchange’s automation of the bill payment system. Because of this, you may not have to worry that a supplier will not accept a certain payment method, as there are many payment options available.
If you are a large or middle-market business, AvidXchange may offer even more reasons to be the best payment system for you. Our platform is designed with the aim to be the best payment platform for companies that make substantial and frequent transactions each year.
For those who might be worried about ease of use, AvidXchange is often able to integrate into your current accounting system. Our software supports multiple entities, which may be important for growing organizations. We also have integrations with a number of accounting systems that are commonly used in many industries, including the field of banking.
AvidXchange’s payment system can also help organize the invoicing and billing process. The invoice and bill management dashboard is customizable to fit your accounts payable needs.
However, do note that small companies that do not make many transactions each year may not be able to take full advantage of AvidXchange’s B2B bill payment and invoicing automation as well.
That is due partially to the likelihood that smaller businesses may have lower accounts payable-related costs and need to file and approve fewer invoices. The cut in paper and postage costs and time consumption may not be as noticeable.