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Michael Praeger, CEO, AvidXchange

AvidPay Payment Automation by AvidXchange

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    One solution to facilitate 100% of your payments

    AvidPay is a payment automation solution that enables companies to pay vendors electronically while maintaining all of their banking relationships and their current approval workflows. AvidPay creates flexibility for step level approvals and multiple approvers based on your business rules.

    How It Works:

    • ACCOUNTING SYSTEM — Select payments from your accounting system just like you do today, but instead of selecting them for print, you select them to pay.
    • PAYMENT APPLICATION — Payments are transmitted to AvidXchange and your optimized payment process begins. That means eliminating the need to ever print, sign, stuff, or mail checks ever again.
    • PAYMENT CONTROLS — Payment files are routed to approvers, based on your company’s current approval processes, for final approval before they are transmitted to vendors.
    • PAYMENT FACILITATION — All payments are debited from your company’s bank account(s) to a clearing account for secure funding. Verified funds are then easily distributed to vendors.
    • THE AVIDPAY NETWORK — AvidXchange has a dedicated vendor team that works directly with your vendors to maintain their payment data and verify their accepted payment types.
    • VENDOR PAYMENT RECEIPT — Vendors will receive payments in the method they select. Our Payment Services Team ensures all payments are received and provides a supported vendor experience.
    • RECONCILIATION — Your company’s accounting system remains your system of record. You will receive files with all the payment information your company needs for reconciliation of payments.

    Want to learn more about AP Automation for Dynamics ERP?

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    Michael Praeger, CEO, AvidXchange

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