AvidXchange is a best in class, customizable AP solution option. It’s an amazing time-saver with electronic invoice capture and the option to automate coding. AvidPay and AvidInvoice allow you to choose what you need – processing and/or paying the invoices. You can choose to decouple the Accounts Payable invoice processing and payment. AvidXchange also allows you to earn rebates for payments that you make using ACH and Virtual Card payments. This means you can offset the cost of using the solution, simple by performing the functions you need to perform. AvidXchange even works on your behalf to conduct outreach and discuss with suppliers the benefit of getting paid by ACH or Virtual Card. With AvidXchange’s program and our industry knowledge and expertise, you can gain the benefit of having two experienced teams at your disposal to answer questions, provide support, and create customized solutions that exceed your automation needs.
It’s not about replacing people, it’s about increasing efficiency. The basic idea of workplace efficiency is to have the same number of people get more done. With automation, that’s an inevitability. AvidXchange gives you the power to accelerate approvals, reduce processing costs, and virtually eliminate paper with more transparency into, and control over, spending than you’ve ever had.
AvidXchange integrates with over 100 accounting systems, so it’s easy for you to get started. AvidXchange has worked hard to cultivate relationships with accounting system partners and to fully understand your process to make things seamless from your accounting system to their software. They’ve integrated with so many best-in-class solutions – visit this link for a listing of the systems as well as details on how the integration works with respective partners.
Our Invoice Application is designed to mirror your current approval processes and workflows, but without all the paper and inefficiency. By automating the process, your company will be able to track invoices electronically, streamline workflows, and have a central repository for anytime, anywhere access to invoice data.
How it works:
In addition to the extra security from separation of responsibilities, going from paper to a digital system improves information security to your organization. While you might think of horror stories, like when Target and Home Depot had their credit card systems hacked, these stories are the rare anomalies, not the norm. Hacking can happen, but well designed, modern ERPs and AP systems are built to withstand virtually any attack.
In most cases, the worst-case scenario is a DDOS (Distributed Denial of Service) attack, where your systems are overloaded and inoperable. But this is more of a web problem than an AP problem, unless you are using a web-based provider that doesn’t take advantage of DDOS protection and cloud performance. Currently, no reputable company would offer an AP solution that is not thoroughly tested against hackers. Thanks to corporate firewalls and other anti-hacking tools, your data is safe and secure when you choose a trusted provider for your ERP and AP system needs.
Increased vendor adoption of electronic payments with the eligibility for your company to earn rebates. AvidXchange provides a rebate for ACH and Virtual Card payments; a trust account is created, and the client is debited for every payment. As the number of payments run through Avid increases, the cost per transaction will decrease.
AvidXchange has more than 300,000 suppliers in their network and is committed to creating a great experience for you. A network of this size means that the companies you are already doing business with may very well be part of the network already. This may allow you to take advantage of rebates on ACH and Virtual Card payments to these suppliers. With Avid continually working on its customers’ behalf to grow this network and increase adoption of ACH/Virtual Card payments by suppliers, this network will continue to grow and the opportunity for savings will multiply.
