AP and Payment Automation Software
AvidXchange
Accounts Payable Automation and Payment Solution
AvidXchange is a cloud-based accounts payable automation software solution that eliminates the burden of manual entry and physical system maintenance from AP personnel. Leveraging payment automation SaaS in a completely digital platform removes the need for paper-based accounting and allows you to migrate to electronic invoicing and bookkeeping. Time-consuming procedures are replaced with automated features accessed through a secure cloud connection that permits managers enhanced permission controls and to execute on approvals in real-time.
Streamlining your accounts payable processes with modern payment automation technology in the cloud ensures more efficient workflows and decreases the risk of downtime at integral financial junctions. AP automation software enables your accounting personnel to allocate their input more strategically, instead of being consumed with managing repetitive manual tasks and physical data entry with pen and paper. With AvidXchange, tedious invoice processing and auditing activities can be cut down to within hours, freeing up your finance operations to focus on duties that actually generate value for your business.
INVOICE AUTOMATION
AvidXchange’s automated invoice processing software is a web-based, paperless invoice management platform built to improve the way B2B companies manage invoices. Streamline your entire invoice process with:
- Automated invoice data extraction software and routing
- AI and Machine Learning for quick and accurate data entry
- Customizable approval workflows
- Real-time visibility into invoice status
- Powerful reporting and analytics
- Best-in-class service and support
PURCHASE ORDERS AND PROCUREMENT
Ensure your PO process moves smoothly and with as little hassle as possible with PO matching automation. With the help of AvidXchange’s purchase order management software, you can reduce unapproved purchases, coding errors and unnecessary delays in your PO process. You can also gain greater visibility by automatically matching invoices and receipts to POs. You can access:
- 2- and 3-way matching
- Electronic searching for sales receipts, invoices and POs
- Visual indicators of invoice approval
AvidPay
AvidPay is a bill payment automation solution built to help you improve risk-prone, manual payment processes and more easily pay your business bills. When you automate the bill payment process, your company’s accounting system remains your system of record, and you receive files with all the payment information your company needs for reconciliation. AvidPay can help you save time and money with:
- Paperless bill payments supported by a full-service team
- Customizable workflows and anytime, anywhere approvals
- Access to our AvidPay Network of more than 1.2 million suppliers
- Real-time payment visibility
- Powerful reporting and analytics
- Best-in-class service and support
SUPPLIER AND VENDOR MANAGEMENT
AvidXchange provides a dedicated e-payment network supported by a Payment Services Team that allows your suppliers and vendors to choose their preferred method of payment. Whether Mastercard, AvidPay Direct payment or paper check, this dedicated team works diligently to ensure that your supplier’s accounts receivable personnel get their due. Over 1.2 million vendors trust the AvidPay network to facilitate their payments for goods and services.
Deploying AP automation as SaaS also allows for easier implementation, with a 45-day installation guarantee by AvidXchange. Accounts payable process automation in the cloud grants you improved visibility into your payments accounting activities and helps you keep close track of your vendor information for fast execution. When integrated with your Sage 100, Sage Intacct or Acumatica ERP, this combination will extend the native accounts payable functionality of your enterprise software and let you take advantage of a completely paperless AP solution.
AvidXchange Helps AP Personnel Save Time, Money and Pain by Automating Accounts Payable Functions
CFO
An automated AP system that generates accurate payment and invoice information helps reduce uncertainty from the CFO’s business decisions.
Controller
For the controller, AP automation improves visibility into cash flow, maximizes audit efficiency, speeds up quarterly and year-end closes and helps attract and retain talent.
AP Manager
If responding to an ad hoc payment or invoice request in the world of paper AP, this could take hours or a full day. With automated AP solutions, the AP manager can simply log in to the online portal and quickly get the answers needed.
AP Automation for Acumatica and Sage
Expand the accounts payable features in your enterprise system by integrating AvidXchange with your ERP. Enable AP automation for over 240 accounting systems.
Ultimate Guide to AI in Finance
Artificial intelligence is revolutionizing how finance works, with a majority of accounting professionals leveraging AI in their departments in some way. Whether it is automating invoicing processes, scaling up customer support resources or working with historical data to catch anomalies or fradulent charges, generative AI and machine learning provide AP teams with new ways to streamline accounts payable workflows. See what else artificial intelligence has to offer for financial management in our e-book, the Ultimate Guide to AI in Finance
Download our free e-book to learn how you can use AI to improve your AP operations.