AvidXchange

COMPANY OVERVIEW

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AvidXchange

AvidXchange is the industry leader in automating invoice and payment processes for mid-market businesses. Founded in the year 2000, AvidXchange processed 9.5 million payments last year across its network of more than 500,000 suppliers, transforming the way 5,500 customers in North America pay their bills. AvidXchange is distinguished as a global fintech unicorn and one of the fastest-growing technology companies in the U.S. with 1,300 employees in seven office locations. For more information, visit?www.AvidXchange.com.

Company Categories:
Business Technology, cloud technology, Fintech
Headquarters:
1210 AvidXchange Lane, Charlotte NC 28206
Founded Date:
2000
Founders:
Michael Praeger, David Miller
Operating Status:
Active
Funding Status:
Late Stage Venture
Number of Employees:
1000+
Market:
Both
Sub Market:
Multi-family, Office, Retail, Industrial, Mixed-use, Hotel
Sector:
Professional Services, Software
Areas Served:
National
Company Email:
marketing@avidxchange.com
Phone Number:
8005609305

PRODUCTS + SERVICES

Product Name:
Purchase Order Software from AvidXchange
Product/Service Category:
Workflow Automation
Product Description:

Eliminate unapproved purchases, coding errors and unnecessary delays in your PO process with AvidXchange purchase to pay technology. AvidXchange specializes in automating the purchase-to-pay process with a great blend of software and services. AvidXchange’s Purchase Order Application is a comprehensive, web-based solution that enables you to automate your company’s purchase order process and control costs by preventing unwanted purchases.

Eliminate unapproved purchases, coding errors and unnecessary delays in your PO process with AvidXchange purchase to pay technology. AvidXchange specializes in automating the purchase-to-pay process show more...

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End Users:
Property Manager
Available on:
Android, iOS, PC
Product Name:
Automated Invoice Management Software
Product/Service Category:
Workflow Automation
Product Description:

Our completely automated invoice management software streamlines the entire AP process, while matching the current approval process that you have in place today. Put paper invoices, and all of the headaches that come with them, in the past. Your suppliers will have options for submitting invoices to AvidXchange, so that it will be convenient for them. They can email invoices directly to AvidXchange with an inbox created specifically for your company, or they can continue to mail paper invoices to us. Regardless of how they choose to submit invoices, we manage that entire process for you, so now you have all of the information that you need right at your fingertips electronically in our invoice management software.

Our completely automated invoice management software streamlines the entire AP process, while matching the current approval process that you have in place today. Put paper invoices, and all of the he show more...

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End Users:
Property Manager
Available on:
Android, iOS, PC
Product Name:
Bill Payment Software
Product/Service Category:
Workflow Automation
Product Description:

Make 100% of your bill payments with AvidXchange. You and your suppliers will love our software, services, and industry-leading payment network. Our full-service bill payment software offerings are available along with AvidXchange payment services. How does it work? You select payments from your accounting system just like you do today, but instead of selecting them for print, you select them to pay. Payments are then transmitted to the e-payment Application and your optimized payment process begins. Based on your company’s current approval processes, payment files are routed to approvers for final approval before they are transmitted to vendors. Once approved, all payments are debited from your company’s bank account(s) to a trust account for secure funding. Verified funds are then easily distributed to vendors. Your company’s accounting system remains your system of record, and you will receive files with all the payment information your company needs for reconciliation of payments.

Make 100% of your bill payments with AvidXchange. You and your suppliers will love our software, services, and industry-leading payment network. Our full-service bill payment software offerings are a show more...

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End Users:
Property Manager
Available on:
Android, iOS, PC
Product Name:
Check Printing Software
Product/Service Category:
Workflow Automation
Product Description:

With AvidXchange Create-A-Check, you can print MICR checks onto blank check stock & generate basic ACH, EFT & Wire payments locally to your bank. All within the same software! How does it work? Simply access your accounting system, generate a payment file and send it to Create-A-Check. Whether you’re sending an ePayment or check, our AvidPay Network will handle the rest. We’ll send your check or preferred E-Payment method on your behalf to pay vendors when and how they want to get paid in ten seconds.

With AvidXchange Create-A-Check, you can print MICR checks onto blank check stock & generate basic ACH, EFT & Wire payments locally to your bank. All within the same software! How does it work? Simp show more...

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End Users:
Property Manager
Available on:
Android, iOS, PC
Product Name:
Utility Bill Management Software
Product/Service Category:
Workflow Automation
Product Description:

Utility Bill Analytics and Reporting (UBAR) AvidXchange’s Utility Bill Analytics and Reporting (UBAR) service provides comprehensive controls, utility bill management, reporting and payment features for greater control of utility costs and invoice management. Our utility bill management solution heightens awareness of energy usage and billing rates while greatly simplifying your payment process. This allows you to better manage your utility spend at any location or facility?down to the meter level. This complete managed solution eliminates the burden of receiving, capturing, and paying utility invoices from your payables staff. Our 6-Step Validation Process: 1. Validates accuracy of start and end date continuity 2. Detects missing and out of cycle bills 3. Checks meter reading continuity for billing accuracy 4. Monitors consumption variances and issues alerts for irregularities 5. Monitors rate variances and issues alerts for irregularities 6. Detects duplicate utility bills and charges Energy Procurement AvidXchange’s Energy Procurement team negotiates third-party electric and natural gas supply arrangements on behalf clients with business sites in states with deregulated electricity markets (see below for a list of qualifying states). Our experienced staff develops a comprehensive energy procurement strategy and solicits bids from qualified suppliers that best meet your energy requirements and business conditions. We analyze each supplier’s bid for quantitative and qualitative factors and recommend the most qualified, licensed energy supplier with the product(s) that fit your energy requirements with minimum risk. Benefits of using AvidXchange’s Energy Procurement team: - No out-of-pocket costs - Annual cost savings - Budget stability - Improved forecasting - Centralized contract management AvidXchange Energy can assist in all phases of energy procurement, including: - Obtain and evaluate energy supplier pricing proposals and agreements - Negotiate favorable contract terms and conditions on behalf of our client - Coordinate enrollment/de-enrollment requirements with utility companies - Review third-party supplier bills to ensure contract compliance - Monitor market conditions during contract term to capitalize on favorable buying opportunities If your company has sites in any of the below states, you can utilize AvidXchange Energy’s procurement services: - Connecticut - Delaware - Illinois - Maine - Maryland - Massachusetts - New Hampshire - New Jersey - New York - Ohio - Pennsylvania - Rhode Island - Texas - Washington D.C. Rate and Tariff Analysis Our comprehensive Rate & Tariff Analysis service provides a 12 month historical utility cost analysis of billings across all accounts. This twelve month snapshot identifies suspected utility billing errors and opportunities for on-going cost savings. We provide tariff and utility cost rate analysis identifying all areas of potential cost savings with go-forward recommendations and action plans. We analyze all utility commodities including electricity, natural gas, water, sewer, fuel oil, steam and coal.

Utility Bill Analytics and Reporting (UBAR) AvidXchange’s Utility Bill Analytics and Reporting (UBAR) service provides comprehensive controls, utility bill management, reporting and payment features show more...

show less...

End Users:
Property Manager
Available on:
Android, iOS, PC

LEADERSHIP

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