This new offering provides customers who rely on QuickBooks Online, a fully automated, end-to-end, cloud-based AP and payment solution.
Built on the AvidConnect platform, this seamless integration enables automatic syncing of accounting codes, vendor information, invoices, and payments via combined AvidInvoice, AvidPay, and QuickBooks Online technology. This helps customers with complex needs, especially those who have outgrown their AP solution provider or processes, save time spent on manually handling these crucial AP tasks.
Additionally, when compared to manual processes or using paper checks to pay vendors, this end-to-end automated process is overall more efficient as the AP process is conducted through a singular cloud-based platform. This also provides more insight and transparency into the payment data which allows customers to learn from each transaction, finding patterns, repeat payments, and more. Furthermore, its digital nature enables customers to reduce accounting costs by reducing the need to buy envelopes and stamps to mail paper checks and make trips to the bank to pay vendors.
Officials from AvidXchange stated that adding an integration for QuickBooks Online to their existing QuickBooks portfolio showcases the dedication to improving their solutions to meet the needs of customers. This is an exciting new integration for them, as well as the middle market as a whole, as they expand capabilities across more existing platforms.
AvidXchange is a provider of accounts payable automation software and payment solutions for middle market businesses and their suppliers. AvidXchange’s Software-as-a-Service-based, end-to-end software, and payment platform digitises and automates the AP workflows for more than 8,000 businesses and it has made payments to more than 825,000 supplier customers of its buyers over since 2017.
The company is a licensed money transmitter for US B2B payments, licensed as a Money Transmitter by the New York State Department of Financial Services, as well as all other states that require AvidXchange to have a license.
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