Keep the process - Remove the paper

AvidXchange revolutionizes the way companies pay their bills by providing a solution that streamlines the entire Accounts Payable process--from invoice receipt through vendor payment.  The AvidXchange Suite mirrors your existing invoice approval/AP process. Paper invoices are either scanned or electronically submitted to AvidXchange.  Invoices are automatically coded, assigned to the appropriate workflow and routed electronically for approval. Once the invoice is approved for payment, the vendors will receive the payment in their preferred type, including a variety of ePayment methods and checks.

AvidXchange can be tailored to your needs.

Web Payments | Mobile Payments | IVR
All of AvidXchange's solutions are SaaS based, which means that there is one platform for clients to login to for anytime, anywhere access to all invoice and payment data.

Take a two or four minute tour of what AvidXchange can do for you.

 

2 Minute
video

 

4 Minute
video

Capture

Invoice submission and receipt is automated.  Invoices are electronically captured to the secured data center via one of the following means:

  • Email Submission
  • Secure Web Submission
  • Upload Electronic Files, Such as PDF or CSV
  • Specialized Applets

Route

Mirroring your current process, information is routed through your corporation for processing via your approval workflow.

Report

All users have the ability to do ad hoc searching and reporting from the system which functions as the client’s “electronic file cabinet” for AP documents. Within the application, users can access invoices based on their role/permissions in the system and to which properties they have access. Users can search for invoices by invoice number, purchase order number, work order number, date range, vendor, GL codes, invoice status, properties/entities, assigned user, or type of invoice. Users can then immediately create an ad hoc report of their search results by identifying key information for each invoice they would like to have included in report.

Integrate

AvidXchange has standard integration to more than 50 accounting systems, so you can easily get started with AvidXchange. No worries if we have not already integrated to your accounting system, our integration team can work with you to build one.

Control

Approvers can have the same level of control they do today by enabling them to approve invoices and payments based on the same rules their business currently has in place – including things like thresholds and double signatures. No payment is transmitted until it receives final approval. Instead of watching it on the corner of your desk, you can watch it virtually in your approval queue from anywhere you have an internet connection.

Pay

AvidPay enables companies to pay vendors in the format chosen by the vendor while maintaining all of their banking relationships and their current approval workflows. AvidPay’s PayControl feature creates flexibility for things such as step level approvals and mutliple approvers. So, you can keep your process, but cancel that order for check stock and ink.

Efficiency

Eliminate paper checks from your company’s payment process. No printing, stuffing, mailing, or signing a check. Reduce your payment processing costs by 60%, or more. Eliminate your need to manage vendor data, including accepted payment types.

Visibility

Gain real-time access to the status and approvals of payments 24/7, and receive all payment details for easy tracking, research, and reconciliation.

Control

Approvers to have the same level of control that they do today by enabling them to approve based on the same rules their business has in place currently for thresholds and double signatures. No payment is transmitted until it receives final approval, so instead of watching it on the corner of your desk, you can watch it virtually in your approval queue from anywhere that you have an internet connection.
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