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Newsroom   /   Press Release

AvidXchange™ and Vroozi Form Strategic Partnership to Offer a Robust Solution for Procurement through Payment to Midmarket Businesses

May 9, 2017

CHARLOTTE, N.C., (May 9, 2017) AvidXchange™, a leading provider of accounts payable and payment automation solutions, is pleased to announce its partnership with Vroozi, a leading cloud-based business purchasing platform. AvidXchange™ and Vroozi have formed a strategic partnership to deliver clients a best-in-class experience from procurement through invoice payment. For many organizations, purchasing and payables are done across multiple locations using many different suppliers, which can cause inefficiencies and inaccuracies. The companies are excited to begin development, and create an integrated offering that will empower companies to have an automated experience that creates efficiency, and ensures accuracy, from the procurement process all the way through payment of the invoice using a combination of best-in-class solutions from Vroozi and AvidXchange.

“This is an exciting partnership for us, as it extends Vroozi’s value proposition to new and existing customers by offering end-to-end procurement capabilities with AvidXchange’s robust invoicing and payables technology,” says Shaz Khan, Chief Strategy Officer and Co-Founder of Vroozi. “The combination of our respective SaaS platforms provide companies with increased automation, lower processing costs, and enhanced productivity, ultimately breaking down silos and bringing tremendous operational efficiencies for companies.”

“We are very excited about the partnership with Vroozi , because of the great innovation and value that we’re going to bring to the marketplace with the power of our combined offerings.   We are very excited to now offer our customers a full-featured frontend procurement solution to manage their suppler relationships and expenses using the latest technology and procurement best practices.   Our offering now possesses the most feature-rich procurement through payment offering in the industry for middle market customers,” commented Michael Praeger, CEO and Co-Founder of AvidXchange. “We’ve been focused on the purchasing portion of the payables process for years, and we recognized the need to bring on an expert to help us solve for specialized procurement needs, such as customer-specific supplier catalogs for our customers to better manage their expenses ,” added Praeger. “

About Vroozi

Vroozi®, the leading cloud-based business purchasing platform, is helping companies make shopping for their business easier, more efficient, mobile-first and enjoyable. Vroozi is designed for companies who want to empower their employees, connect with their suppliers and maintain spend visibility from anywhere, anytime. Vroozi has proven its solution within the enterprise space, and is now democratizing the procure-to-pay process by bringing that powerful, enterprise-grade functionality to the mid-market. The digital platform reduces transactional costs, maximizes efficiency and improves business margins while giving powerful insights into financial data. For more information, visit www.vroozi.com and follow along on LinkedInTwitter and Instagram.

About AvidXchange

AvidXchange revolutionizes the way companies pay their bills.  Serving more than 5,000 clients throughout North America, AvidXchange is an industry leader in automating invoice and payment processes for midmarket companies spanning multiple industries including Real Estate, Financial Services, Energy, and Construction.  AvidXchange has been recognized as one of the 50 fastest-growing private companies in the Charlotte area for four consecutive years, as well as ranked among Deloitte’s Fast 500 this past year.  In the midst of record growth, AvidXchange has remained true to its most valued competitive advantage—its people.  AvidXchange has been recognized as one of the Best Places to Work in Charlotte for eight consecutive years.  For more information, contact us at 800.560.9305 or [email protected].

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