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November 9, 2023

On the web

May 8, 2023

On the web

Payment Software Giant AvidXchange Suffers Its Second Ransomware Attack of 2023

TechCrunch

"Hackers have published a trove of sensitive data stolen from payment software company AvidXchange after the company fell victim to ransomware for the second time this year. AvidXchange provides cloud-based software that helps organizations automate invoice processing and payment management processes. The North Carolina-based company says it processed 70 million transactions for 8,000 customers in 2022. A ransomware group called RansomHouse claimed responsibility for the recent cyberattack on AvidXchange."

March 8, 2023

On the wires

AvidXchange Delivers Best-In-Class Invoice-to-Pay Solution to More Credit Union Customers, Partners with KeyStone by Corelation

GlobeNewswire News Room

"AvidXchange Holdings, Inc., a leading provider of accounts payable (AP) automation software and payment solutions for middle market businesses and their suppliers, today announced its referral partnership with KeyStone by Corelation Inc., the latest core processor for today’s credit union. This allows AvidXchange to offer AvidAscend, a best-in-class invoice-to-pay software solution, to Corelation's 190+ top credit union customers."

December 6, 2022

On the web

Intuit Quickbooks Online Customers Increase Efficiency With Fully Automated AP And Payment Solution by AvidXchange

AvidXchange

“AvidXchange Holdings, Inc., a leading provider of accounts payable (AP) automation software and payment solutions for middle market businesses and their suppliers, today announced an invoice-to-pay application programming interface (API) integration with Intuit QuickBooks Online . 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.”

November 29, 2022

On the web

AvidXchange Expands Global Capabilities With the Launch of Cross-Border Payments

AvidXchange

“AvidXchange, a leading provider of accounts payable (AP) automation software and payment solutions for middle market businesses and their suppliers, today announced the launch of cross-border payments (CBP). The embedded payment experience will be available first to Oracle NetSuite customers and accessible in AvidXchange’s newly launched SuiteApp within NetSuite’s SuiteCloud platform. With the AvidXchange SuiteApp, customers in the United States can pay both domestic and international suppliers without leaving NetSuite. Payments can be made from a USD bank account and currencies offered include AUD, CAD, EUR, GBP, INR, and MXN. Once cross-border vendors have been established, customers can automate exchange rate quotes for international bills and elect to process payments. Building upon NetSuite’s robust solution for financial services, the fully automated accounting process with CBP provides better visibility into foreign exchange fees, gains, and losses, so that customers have more control over costs and cash flow. AvidXchange allows customers to streamline resources and reduce the amount of manual work required to print paper checks and keep track of costly international wire fees. With a centralized system to handle accounting tasks, the process to pay international suppliers is also more secure.”

August 16, 2022

On the web

AvidXchange Launches API Integration With Blackbaud Financial Edge NXT®

AvidXchange

“AvidXchange, a leading provider of accounts payable (AP) automation software and payment solutions for middle market businesses and their suppliers, today announced an application programming interface (API) integration with Blackbaud Financial Edge NXT®, a cloud fund accounting solution designed specifically to meet the unique compliance needs of social good entities such as health care, education and nonprofit organizations…by automating the AP process via one centralized platform, customers can experience time and cost savings, as well as heightened security against fraud, as they rely less on completing these tasks manually and leverage electronic payments rather than legacy paper check and mail services.”

August 8, 2022

On the web

AvidXchange Offers a Complete Purchase to Pay Solution Purpose-Built for the Construction Industry

GlobeNewswire News Room

“AvidXchange Holdings, Inc., a leading provider of accounts payable (AP) automation software and payment solutions for middle market businesses and their suppliers, today announced TimberScan Titanium, now integrated with AvidPay, is available to Sage Intacct users offering a complete purchase-to-pay solution for professionals in the construction industry. This offering liberates construction professionals like contractors and developers from having to match purchase orders, manage invoices and facilitate payments by hand. Instead, these finance tasks can be managed remotely and more efficiently – from anywhere and at any time – via one centralized, fully automated platform.”

July 20, 2022

On the web

AvidXchange Partners with MDT, Expands Invoice-to-Pay Solution to More Credit Unions

GlobeNewswire News Room

“AvidXchange Holdings, Inc., a leading provider of accounts payable automation software and payment solutions for middle market businesses and their suppliers, today announced a referral partnership with Member Driven Technologies (MDT), a credit union service organization. MDT hosts the Episys® core platform from Symitar® to provide a private cloud alternative for core processing and IT needs. This partnership will help promote AvidAscend, a best-in-class invoice-to-pay software solution, to MDT’s 100+ credit union clients. AvidAscend seamlessly integrates with the Symitar Episys® platform hosted by MDT, allowing users to save time and costs by transitioning from antiquated paper-based systems to streamlining the AP process via one automated, cloud-based solution. Furthermore, automating these processes provides a more organized approach to AP tasks by allowing the platform to handle some of the typical duties of the department, as well as more visibility and control over outstanding invoices, providing back-office professionals more time to focus on bringing strategic value to the organization.”

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