IDC MarketScape names AvidXchange a Chief in Accounts Payable Automation for the Midmarket

Purchaser practical experience, AvidPay Network acknowledged as strengths of AvidXchange in most current IDC MarketScape report

CHARLOTTE, N.C., Feb. 17, 2021 /PRNewswire/ — AvidXchange, the foremost company of accounts payable (AP) and payment automation answers for the center sector, has been named a Chief in IDC Research’s most current report on AP automation. In IDC MarketScape: Around the globe SaaS and Cloud-Enabled Accounts Payable Automation Apps for Midmarket 2020-2021 Vendor Assessment, analysts identified buyer fulfillment and the AvidPay Community of additional than 680,000 suppliers as AvidXchange strengths in contrast to crucial rivals.



In accordance to the report, “AvidXchange received just one of the highest client rankings among IDC’s survey of conclusion end users.” Large marks had been attributed to stay, arms-on companies groups focused to ensuring buyer achievement right after go-are living, placing AvidXchange aside in its potential to deliver a detailed help knowledge to middle current market corporations. Coupled with AP automation remedies that integrate right with customers’ accounting methods and accessibility to the AvidPay Network, AvidXchange assists AP groups pay costs more efficiently by removing paper and handbook processes.

The AvidPay Network is the largest payments community for the middle sector, supplying a number of e-payment alternatives for suppliers to assistance cut down paper checks. By shifting to virtual card (VC) or AvidPay Direct, suppliers can get compensated in as minor as 24 hrs as a result of their most popular payment system when getting much more visibility into payments and control more than their dollars flow.

“We’ve spent a lot more than 20 decades creating a cloud-based mostly AP automation platform and payments community particularly designed for how middle industry customers fork out their expenditures,” reported Michael Praeger, CEO and Co-Founder of AvidXchange. “With AvidXchange, mid-sized businesses can depart their paper behind and fully automate payment procedures to empower their AP teams in an anywhere, at any time electronic ecosystem, having the agony out of how they make payments.”

“COVID-19 has extra a new layer of complexity to handling paying out for most businesses, motivating numerous to look for new AP and payment tools to generate clarity and effectiveness,” claimed Kevin Permenter, Investigation Manager, Company Apps at IDC Investigation. “AvidXchange is a chief in offering those resources because its business-precise answers are simple to implement and related to an in depth community of suppliers – with various services groups made to advertise buyer results from onboarding by way of day-to-day functions.”

Read the IDC MarketScape for Throughout the world SaaS and Cloud-Enabled Enterprise Accounts Payable Automation Programs for Midmarket 2020-2021 Seller Assessment (Doc # US47032620, December 2020) excerpt below.

About AvidXchange™

AvidXchange is the industry chief in automating invoice and payment processes for mid-market organizations. With 1,500 staff members supporting 6,000 clients throughout North The usa, AvidXchange procedures in excess of $140 billion transactions per year with much more than 680,000 suppliers paid by way of its network. To discover additional about how AvidXchange is transforming the way organizations pay their payments, pay a visit to

About IDC MarketScape
IDC MarketScape seller evaluation design is intended to give an overview of the aggressive fitness of ICT (information and communications know-how) suppliers in a offered sector. The research methodology makes use of a demanding scoring methodology centered on both equally qualitative and quantitative conditions that results in a single graphical illustration of just about every vendor’s placement in a provided market. IDC MarketScape gives a distinct framework in which the product and services choices, abilities and approaches, and present-day and upcoming industry accomplishment components of IT and telecommunications sellers can be meaningfully compared. The framework also gives technologies purchasers with a 360-diploma assessment of the strengths and weaknesses of present and prospective sellers.


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