AvidXchange announces purchase-to-pay integration for Sage 100

Thursday 14 July 2022 10:28 CET | News

AvidXchange, a US-based provider of accounts payable (AP) automation software and payment solutions, has announced an end-to-end, purchase-to-pay (P2P) integration available for Sage 100 customers in AvidStrongroom.
AvidXchange announces P2P integration for Sage 100

This new offering builds on the company’s suite of solutions integrated with Sage technology including, Sage Intacct, Sage 100 Contractor, and Sage 300 CRE.

With this launch, AP professionals and business leaders can reduce time spent manually matching purchase orders (POs), invoices, and receipts by automating those tasks in AvidStrongroom. Furthermore, the platform recognises different approval workflows based on the results of the PO matching process creating opportunity for a more efficient process and less risk of error in the future. With AvidStrongroom’s 2- and 3-way PO matching feature, customers also save on costs by reducing the chance of overpaying vendors by way of human error.

What is Accounts Payable?

AP is a short-term debt and a liability on a balance sheet where a business owes money to its vendors/suppliers that have provided the business with goods or services on credit. AP is also referred to as the department that handles vendor invoices or bills and records the short-term debts in the general ledger (GL). The AP department will verify invoices against (purchase) orders and ensure the goods or services were received before issuing payment to their vendors.

AvidXchange is a provider of AP 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 the past five years.

Recently, AvidXchange has announced an application programming interface (API) integration for Acumatica, allowing AvidXchange to expand its vertical expertise and technology to customers in Acumatica’s industries like construction, technical, business services, retail, and manufacturing, that leverage its cloud enterprise resource planning (ERP) software.

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Keywords: partnership, purchase-to-pay, accounts payable, e-invoicing, payments
Categories: Banking & Fintech
Companies: AvidXchange, Sage
Countries: United States
This article is part of category

Banking & Fintech




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