CHARLOTTE, N.C., (February 16, 2017) – AvidXchange™, leading provider of accounts payable and payment automation solutions for midsize companies, announced today that they have unveiled new offerings for suppliers by the name of AvidXchange Cashflow Manager™. AvidXchange has experienced phenomenal growth over the last several years, and a key part of AvidXchange’s customer ecosystem is its customers’ suppliers. AvidXchange has more than 300,000 suppliers in its network today that process invoice and/or payment transactions. The company has always been focused on delivering innovative customer-centric solutions to change the AP and payment automation game. With the large supplier network that AvidXchange is serving, it has created new offerings to support this rapidly expanding base.
“My job is much easier, because I can use the AvidXchange Cashflow Manager™, to access the invoice and payment data that I need. This feature has saved me so much time, because I don’t have to make phone calls or write emails to get this information,” said Virginia Wilson, Owner of Virginia’s Cleaning Service. Wilson was part of the first group of suppliers who had the opportunity to try out the AvidXchange Cash Flow ManagerTM prior to its official launch.
The supplier offerings called, AvidXchange Cashflow Manager™, give suppliers access to a portal where they can view the status of receivables and take advantage of a payment advancement feature to have power over their cashflow. The payment advancement feature is called Invoice Accelerator, which empowers suppliers to receive electronic payments sooner on approved invoices. To support these new offerings and the supplier base, AvidXchange has added a number of strategic roles, and now has over 300 employees on staff dedicated to supporting suppliers. Serdar Dincaslan, a seasoned financial services executive formerly with CapitalOne, and Henry Ijams, former Managing Director of PayStream Advisors, are two senior leaders that AvidXchange has brought on board in the last several months to help lead the strategy for AvidXchange’s supplier offerings.
“AvidXchange’s buyer customers are highly dependent on quality and timely services from their many suppliers to run their businesses. AvidXchange Cash Flow ManagerTM was developed to enhance the customer-supplier relationships and foster deeper connections”, commented Serdar Dincaslan, Senior Vice President of Supplier Financing Offerings.
“Services like Invoice Accelerator make a difference in our industry, because we rely so heavily on our cash flow. I wish more of my customers were using AvidXchange, so we could take advantage of this service more often,” said Christy Minnick, Accounting Manager for G Commerce Solutions.
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 five consecutive years, ranked among Deloitte’s Fast 500 this past year, and recently was named of the top 100 technology companies in North America by Red Herring. 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].