AvidXchange, a provider of accounts payable (AP) automation software and payment solutions for middle market businesses and their suppliers, announced its partnership with AppFolio, the technology firm powering the future of the real estate industry.
This partnership will provide customers in the real estate industry “with a simple, streamlined workflow for automated invoice processing, approvals, and payments.”
AppFolio’s integration with AvidXchange will “ensure that invoice details and transactions are all easily recorded in the accounting system of record (AppFolio) and that payment transaction data seamlessly passes to the AvidXchange payment solution for ease in automated payments.”
Additionally, invoice details, “including invoice images, will be easily searchable in AppFolio, reducing the need to manage critical transaction records across two systems.”
Michael Praeger, Chairman, Chief Executive Officer, and Co-Founder of AvidXchange, said:
“Given our 20+ year heritage in the real estate vertical, and not to mention our ability to go deep in the customer base of these partnerships, the AppFolio partnership underscores just how large and underpenetrated we believe the runway of opportunity still remains in just the real estate vertical.”
Dan Drees, President of AvidXchange, said:
“AppFolio is a top provider of solutions for the real estate industry, and we are confident that pairing AvidXchange’s best-in-class invoice automation and payment solution with their leading technology will benefit customers seeking to enhance their AP process. The AppFolio partnership underscores how much opportunity for growth we believe remains for the real estate vertical and we look forward to continuing to arm our customers with solutions that significantly improve their workflows.”
AvidXchange’s integration with AppFolio highlights “the company’s commitment to forging application programming interface (API) partnerships and deep accounting integrations with leading enterprise resource planning (ERP) systems within existing and new target verticals.”
This partnership, planned to go live in 2024, also marks AvidXchange as “the first AP partner in the AppFolio Stack Marketplace, one of the fastest growing partner ecosystems offering everything from seamless software integrations to dedicated accounting and consulting services that help property managers streamline operations and scale their business.”