B2B Payments

AvidXchange Debuts Initiative To Help Firms Quickly Automate AP

AvidXchange Rolls Out Initiative To Help Firms Quickly Automate AP

To assist businesses in automating their accounts payable (AP) expediently and cost-effectively, AvidXchange has rolled out its “Boost your Business” program. The program assists companies in moving to digital billing and payments in under 45 days, according to a Tuesday (Sept. 8) announcement.

The program provides companies with support from an onboarding services workforce and doesn’t have "setup or configuration fees," according to the company. Finance staff that take part in the effort get a dedicated project manager and complimentary digital learning tools via the AvidXchange Academy.

"We conceptualized this new program specifically for companies that are still burdened by antiquated back office processes,” AvidXchange CEO and Co-Founder Michael Praeger said in the announcement. “By helping them shift to eInvoicing and ePayments, we're pivoting their entire finance team to focus on what really matters right now — bolstering the balance sheet for the year ahead.”

The program offers a full invoice-to-pay technology that has automated invoice intake, digital payments and approval processes that take the place of AP procedures that are antiquated and are heavy on printed documents.

Companies can focus on “more strategic initiatives that support stability and rebuilding for future growth” by taking away lengthy and non-automated work such as mailing paper checks or handing off hardcopy invoices for the go ahead, according to the FinTech.

Clients keep getting support from dedicated services teams, with the inclusion of a supplier services workforce comprised of 400 people, after they automate with AvidXchange. The firm provides various digital payment options via its AvidPay network that spans over 680,000 suppliers.

The company’s clients can also keep learning via the AvidXchange Academy even after the technology is put into place.

In separate news, RealPage has teamed with AvidXchange to provide Online Vendor Payments, which will assist in digitizing the payments process for real estate industry clients. The update will enable the automation of vendor payments from procurement to purchase order, billing and payment and is part of the RealPage Accounting and Financial Suite.

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