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AVIDPAY:
Bringing your pay process more options, maximum efficiency and minimum risk of fraud
Payments Processed in 2018
Suppliers in the AvidPay Network
ePayment Adoption and Growing
Manually managing payments for all your suppliers is complex, time consuming and sometimes risky. Suppliers are always looking for late or missing payments, AP is bogged down tracking supplier payment preferences, and the process of following up on uncashed checks can be ineffective and inefficient at best. But with AvidPay, there’s a better solution.
The AvidPay Solution
AvidPay provides a payment automation solution built to help you eliminate risk-prone, inefficient payment processes and more easily pay bills. With AvidPay, you get:
- A full-service payment execution team enabling you to pay suppliers faster using the method they prefer
- The AvidPay Network of 500,000+ suppliers – with 44% already accepting ePayments
- Payment approvals anywhere, anytime
- Visibility into every payment in real time
- Security around sensitive supplier bank account data and the ability to limit liability associated with check fraud
- ePayment incentive programs designed to strengthen and add predictability to your total Return on Investment (ROI)
Benefits of AvidPay
1. Maximize Efficiency
• Eliminate the need to print, stuff, sign and mail checks
• Drive consistency in process for all payment methods and all suppliers
• Leverage the power of our full-service payment team
2. Minimize Risk
• Avoid over-exposing bank account data
• Highest ePayment rates in the industry
• Positive Pay included for every check
3. Drive Predictable Return on Investment
• Eliminate hard costs (check stock, postage, etc.)
• Simple pricing with ePayment incentives that enable predictable and forecastable ROI
“Studio Bank focuses on empowering creators and we do so by using modern technology to educate, advise and help manage finances. Adding an innovative technology like AvidPay to our ASCEND accounting suite directly aligns with the principles we practice, we look forward to spending more time creating even better banking experiences for our customers and less on our own payment processes.”
– Greg Barron, CFO at Studio Bank.
AvidXchange is the industry leader in automating invoice and payment processes for mid-market businesses. Founded in the year 2000, AvidXchange processed 9.5 million payments last year across its network of more than 500,000 suppliers, transforming the way 5,500 customers in North America pay their bills.