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AvidXchange and Comdata Partner to Offer Clients a Complete Bill Payment Solution for Middle-Market Companies
Charlotte, N.C. and Brentwood, Tenn. — August 7, 2013
AvidXchange and Comdata Corporation are pleased to announce a new strategic partnership that will combine the benefits of AvidXchange and Comdata to provide middle-market clients with a complete business bill payment solution. AvidXchange specializes in AP Automation for businesses, and Comdata is a leading business-to-business provider of innovative electronic payment solutions.
The addition of AvidXchange to Comdata’s solution lineup will enable its clients to automate their AP process, while providing more visibility and control, as well as reporting and analytics capabilities.
“Our partnership with Comdata is a great example of how we can leverage the deep relationships they have created with their clients by delivering innovative solutions to automate the accounts payable processes for Comdata customers,” said Michael Praeger, CEO and co-founder of AvidXchange. “By combining Comdata’s payment automation capabilities with AvidXchange’s AP automation tools, customers will have the ability to continue advancing their automation strategies starting with the receipt of vendor invoices, and facilitating an entire paperless process all the way through executing vendor payments.”
“Comdata is excited to offer additional value to our middle-market clients through our partnership with AvidXchange,” said Mark Schatz, executive vice president, Comdata. “Our customers will have the ability to improve their accounts payable processes by implementing electronic invoicing solutions that create additional efficiencies.”
The companies will work closely together to provide a seamless onboarding experience for joint clients that will help them realize the benefits of the combined solution and experience an average savings of 60 percent or more on processing costs. Clients will enjoy the benefit of two experienced teams at their disposal to answer questions, provide support, and create customized solutions that exceed their AP and payment needs. AvidXchange solutions come with a 45-day implementation guarantee.
AvidXchange revolutionizes the way companies pay their bills. Accounts Payable automation increases control and visibility into the bill payment process to reduce processing time, allow early payment discounts and eliminate late fees. Automation eliminates paper by electronically capturing invoices, using intelligent business rules to route invoices for approval and storing all information electronically providing anytime, anywhere access to invoice status and history. AvidXchange makes it easy to automate and backs this great customer experience with a 45-day implementation guarantee. As the first SaaS technology vendor to automate invoice processing, AvidXchange works with suppliers to electronically send and receive all invoices through the AvidBill Network. Standard integration to more than 35 accounting systems speeds adoption and simplifies setup. AvidInvoice significantly reduces operating costs and improves productivity in a company’s accounts payable department. Headquartered in Charlotte, North Carolina, AvidXchange is privately held with over 150 employees nationwide. Contact us at 800.560.9305/ info@AvidXchange.com.