AvidXchange protects suppliers from fraud with security updates

Wednesday 1 July 2020 10:24 CET | News

AvidXchange, a provider of accounts payable (AP) and payment automation solutions for the middle market, has released new security functionality to protect suppliers from fraud.

Cashflow Manager is a small business solution designed to support accounts receivable processes by providing suppliers with visibility into transactions within the network. Cashflow Manager automatically alerts users when bank account information or personal data is changed to help mitigate risk, unauthorised access to payments, and unapproved attempts to redirect funds.

Cashflow Manager also offers suppliers access to AvidXchange’s Invoice Accelerator service to expedite eligible invoices for electronic payment in less than 24 hours. More than 300,000 of AvidXchange’s +680,000 suppliers are now accepting e-payments, and supplier enrolment in enhanced ACH option AvidPay Direct (APD) has increased more than 30% over since April 2020, according to the company’s official press release.

Free Headlines in your E-mail

Every day we send out a free e-mail with the most important headlines of the last 24 hours.

Subscribe now

Keywords: accounts payable, payment automation, AvidXchange, Cashflow Manager, security, suppliers, product update
Categories: Banking & Fintech
Countries: World
This article is part of category

Banking & Fintech