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April Special 2021

AvidXchange helps banks and financial services providers take back their time with a suite of scalable accounts payable software solutions

AvidXchange helps banks and financial services providers take back their time with a suite of scalable accounts payable software solutions

AvidXchange set out from Charlotte, North Carolina, in the year 2000 with a simple mission in mind: Transform the way companies pay their bills and free up their AP from all that paperwork. The firm has grown quite a bit since then, continuously expanding its team, its footprint and its capabilities to become industry leaders in AP automation.

Today AvidXchange helps more than 6000 North American companies cut costs, improve visibility and increase efficiencies. The firm earned the trust of more than 680,000 businesses in its supplier network, processing over $140 billion in transactions annually. And the firm has become one of the fastest-growing technology companies in the US, all by making its customers’ business its business.

Automated invoice processing from AvidXchange

Today, the majority of businesses still depend on manual, paper-based invoice processing, which represents a significant cost burden in terms of time and money. But you can put paper invoices, and all of the challenges that come with them, in the past with invoice automation. Leading finance teams want to focus on more strategic projects and eliminate manual processes like traditional invoice management. Hover over each box to see how that is all possible with invoice automation software and services from AvidXchange.

Paperless invoice processing for the middle-market

AvidInvoice is AvidXchange’s web-based, automated invoice processing platform built to improve the way middle-market companies receive and approve invoices. With automated invoice processing powered by advanced machine learning, all your invoices can be automatically coded, assigned to the appropriate workflow, and routed electronically for approval – no matter how many you have. Once you approve, invoices flow directly into your accounting system for payment processing.

Optimize your accounts payable process

Reduce costs: No more wasted efforts signing, stuffing, stamping and sending stacks of paper checks. Review, code and approve payments with a few clicks.

Scale for growth: Savings from eliminating the hard costs associated with paper payments allow your current team to keep up with a growing workload.

Work remotely: AvidXchange cloud based accounts payable platform provides online access 24 hours a day, seven days a week so you have flexibility when you need it.

Reduce fraud: Enhance your financial security by leveraging e-payment adoption, while providing your vendors with flexible payment options.

AvidInvoice: Paperless invoice processing

AvidInvoice AI-powered invoice management system is built to automate your company’s current invoice processing. No matter how many invoices you have, they’ll be automatically coded using machine learning, assigned to the appropriate workflow, and routed electronically for invoice approval. Once invoices get your stamp of approval, they flow directly into your accounting system for automated payment processing.

  • Receive, track and approve invoices in the workflow you follow today, but without the inefficiencies and paper
  • Reduce manual data entry, reduce errors and save valuable time for your AP team
  • Gain more visibility and control by checking invoice statuses from anywhere, anytime on any device

Origin of AvidXchange Foundation

In 2005, AvidXchange Foundation was formed to help elementary school children impacted by hurricane Katrina. From then on, the AvidXchange Foundation has been dedicated to making a difference in the lives of children and young adults where AvidXchange works and live.

AvidXchange says, “As a technology company, we focus heavily on empowering future generations to take advantage of today’s digital economy, which will be even more critical tomorrow. Across all locations, the firm works with local community partners to provide career skills programming and STEAM (science, technology, engineering, arts, mathematics) curriculum to students of all ages.”

The firm doesn’t limit its efforts or those of its teammates to a singular mission. Corporate giving of all kinds is a part of AvidXchange’s DNA, and it enables employees who are passionate about giving back to the community – however is most meaningful to them – with paid volunteer time off.

Because engaging with its communities and striving to improve the quality of life for its teammates and neighbors is more than an opportunity – it’s AvidXchange’s responsibility.

Angelic Gibson, Chief Information Officer

Angelic Gibson has spent over 20 years in Information Technology, in a number of leadership positions. She joined AvidXchange in 2018, and today serves as its Chief Information Officer. Prior to joining AvidXchange, she held the position of Senior Vice President, Information Technology at Technekes.

Over the course of two decades, Angelic gained deep experience in enterprise technology systems, as well as management practices supporting databases, networks, telecommunications, and infrastructure. She has built and supported business intelligence platforms; AV has extensive cloud computing strategic insight, and a solid track record of success in balancing operational efficiencies with business development and growth.

In addition to overseeing Technology Delivery & Operations at AvidXchange, Angelic is passionate about, and actively involved in, building a talent pipeline for the next generation of technology talent, both inside and outside the business.

“AvidXchange is the industry leader in automating invoice and payment processes for mid-market businesses.”

“AvidXchange is distinguished as a global fintech unicorn and one of the fastest growing technology companies in the U.S. with 1,500 employees supporting customers across seven office locations.”

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