AvidXchange provides AI‑driven accounts payable automation that digitizes invoice capture, routing, and payment execution while integrating with existing ERP and accounting systems such as NetSuite, QuickBooks, and Sage. Its AP‑as‑a‑Service layer offers a managed, cloud‑based workflow with customizable approval rules, audit trails, and fraud controls, freeing finance teams to focus on higher‑value work. Suppliers can join the AvidPay Network to receive fast, secure payments via virtual credit cards, direct transfers, or checks through a 24/7 portal.
Funding
Funding not disclosed
CFounders
Product
Problem
Many mid‑market companies still process invoices and payments manually, using paper forms and disparate systems that create bottlenecks, errors, and limited visibility into spend. This manual workflow consumes staff time, increases fraud risk, and makes it difficult to enforce compliance and control across multiple entities.
Solution
AvidXchange offers AI‑driven accounts payable automation that digitizes invoice capture, routing, and payment execution while integrating with existing ERP and accounting platforms such as NetSuite, QuickBooks, and Sage. The platform provides a managed “AP as a Service” layer for ERP vendors, enabling instant, cloud‑based invoice processing without the need to build custom workflows. Suppliers join the AvidPay Network to receive fast, secure payments via virtual credit cards, direct bank transfers, or checks, with 24/7 access to a Supplier Hub for real‑time status. Built‑in audit trails, customizable approval rules, and AI‑enhanced data extraction give finance teams greater control, reduce fraud exposure, and free staff to focus on higher‑value activities.
Target Audience
Primary customers are finance and AP teams at mid‑market enterprises using ERP or accounting software, as well as ERP vendors seeking a turnkey AP automation layer. Suppliers that receive payments through these organizations also benefit from the AvidPay Network.
Features
- AI‑powered invoice capture that extracts header and line‑item data, reducing manual entry errors
- Seamless integration with over 200 ERP/accounting systems, including native APIs for NetSuite, QuickBooks, and Sage
- Managed AP infrastructure (AP‑as‑a‑Service) that provides instant invoice‑to‑payment automation for ERP partners
- Configurable multi‑level approval workflows, full audit trail, and built‑in fraud detection controls
- Real‑time visibility dashboards for spend analytics, compliance monitoring, and exception handling
- AvidPay Network offering multiple payment methods (virtual credit card, direct bank transfer, mailed check) with 24/7 supplier portal
- Unlimited user licensing with role‑based permissions, supporting hybrid and remote work environments