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AvidXchange Launches First Wave of Accounting System Integrations for its Purchase-to-Pay Solution

CHARLOTTE, NC - AvidXchange™, leading fintech provider of Accounts Payable and Payment Automation for midsize companies, is pleased to announce the first wave of accounting system integrations for its new end-to-end spend management platform. As part of the 2017 Ariett acquisition, AvidXchange was able to integrate its best-in-class payment automation solution with an extended purchasing functionality to help manage spending with requisition approval, purchase order management, and the ability to analyze and forecast expenses. The solution, AvidXchange Purchase to Pay, is a complete, end-to-end offering delivered to customers who use Microsoft Dynamics GP and Intacct.

"We are thrilled to introduce and expand on this leading solution," stated Michael Praeger, co-founder and CEO of AvidXchange. "Throughout the B2B market, we're witnessing a need to optimize and simplify spending while gaining efficiency through data driven results," continued Praeger. "Under the AvidXchange Purchase to Pay solution, business leaders are provided with the opportunity to elevate the precision of their financial decisions, while extending the value of Dynamics GP and Intacct."

As the only end-to-end spend management solution delivered on one unified platform, AvidXchange Purchase to Pay removes the need for multiple tools by processing and tracking all company expenditures. The solution utilizes its ability to analyze, control, and forecast a company's expenses to streamline the relationship between buyers and suppliers while capturing invoices to eliminate paper. In addition, the solution's end-to-end T&E approval workflow, mobile capabilities, and customized vendor catalog opportunities provide decision makers with improved visibility and control.

"As part of the 2017 Ariett acquisition, we are continuing to develop and expand on other AvidXchange Purchase to Pay integrations through our product discovery strategy," said Praeger. "At AvidXchange, our goal is to deliver great products to our customers," added Praeger. "This solution not only meets this goal, but also leads the way on how companies stay competitive in a growing and everchanging market."

AvidXchange™ revolutionizes the way companies pay their bills. Serving more than 5,500 clients throughout North America, AvidXchange is an industry leader in automating invoice and payment processes for midmarket companies spanning multiple industries including Real Estate, Financial Services, Energy, and Construction. AvidXchange has been recognized as the top software company in North Carolina by the North Carolina Technology Association, one of the 50 fastest-growing private companies in the Charlotte area for six consecutive years, ranked among Deloitte's Fast 500 this past year, and was recently named the top 100 technology companies in North America by Red Herring. In the midst of record growth, AvidXchange has remained true to its most valued competitive advantage—its people. AvidXchange has been recognized as one of the Best Places to Work in Charlotte for eight consecutive years.

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