Accounting Software Built for Financial Institutions

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4.6/5 (104)
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Invoice-to-Pay Software for Banks and Credit Unions

AvidAscend is a web-based accounting suite designed to interface with a financial institution’s core system. It enables accounting teams to electronically manage their accounts payable process, vendor payments, fixed assets, expense reports, prepaid and accruals, and more.

Available modules include: Accounts Payable, Invoice Inbox, Approval Workflow, Fixed Assets, Prepaids and Accruals, Expense Report Reimbursement, Purchase Requisitions, Vendor Management, Shareholder Management. 

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Accounts Payable Automation for Financial Services

Core System Integration

Paperless Workflows

Ensures Regulatory Compliance

AvidXchange Integrates with Your Core Banking System

AvidAscend accounting software integrates with all core banking systems, meaning your current system can remain intact while streamlining your existing processes.

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Plus dozens of other popular business accounting systems and all core banking systems.

What Can AvidAscend Do for Your Financial Institution?

OCR Invoice Processing and Automated Coding

Our Invoice Inbox module utilizes machine learning and OCR (optical character recognition) to extract invoice data and code invoices hands-free, replacing your manual data entry processes. Invoices are populated in the suite automatically, and the suite notifies you of any possible duplicate entries.

Custom and Automated Approval Workflow Routing

Easily configure automatic workflow routing rules that mirror your existing invoice approval processes. Email notifications and individual dashboards allow for easy task visibility. Web-based platform lets you make approvals anywhere you have internet access, or a surrogate approver can be designated when you’re not available.

Research and Reporting

Customizable routing rules allow every action and invoice to be tracked with a detailed audit trail. Access to full historical accounting visibility, making financial reporting and audits a breeze.

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We’ve been able to scale our organization without having to add staff because of the efficiencies we’ve seen. If you’re unsure whether you should implement ASCEND, I would say just do it. The only question you’re going to have is: Why didn’t I do this sooner?
- David Weems, Senior Vice President First Financial Bank
By far the best thing -the most time savings, the most bang for its buck — is the approval system. It’s a relief to be able to build in an approvals workflow based on our policy, and to know that you’re following protocol automatically, because it’s built into the system.
- Terri Vroom, Controller at First Citizens Federal Credit Union
One of the best features of [AvidAscend] that makes my life easier is the fact that anything I need to know about accounts payable is there at my fingertips. If I need to look up the last time a vendor was paid, I can find that. If I’m working on an audit request list for the auditor, I have all of the documentation there in one place and I don’t have to go pulling it out of paper files or looking for it on a network drive.
- Sandy Rayburn, CFO at Austin Bank, Texas National Association

Benefits of Automating Your AP with AvidXchange

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Reduce Costs

Reduce the hard costs of dealing with paper invoices and payments.

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Increase Efficiency

Review, code and approve payments with a few clicks.

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Maintain Control

Keep or create custom workflows to ensure your data is accurate.

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Scale for Growth

Allow your current team to keep up with a growing workload.

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Reduce Risk

Increase financial security by leveraging e-payment options.

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Improve Relationships

Get your suppliers paid on time using the method they prefer.

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Work Remotely

Our cloud based platform allows for 24-7 online access.

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Increase Visibility

Online records make reporting and auditing a breeze.

More Accounts Payable Automation Resources

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This educational guide offers helpful explanations, insights and recommendations about AP automation.

Ready to Automate?

Free Product Demo Video


See how it all works! Check out a 4-minute video demo of AvidXchange’s AP automation solutions. 

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