CHARLOTTE, N.C., Nov. 23, 2020 /PRNewswire/ -- AvidXchange, the leading provider of accounts payable (AP) and payment automation solutions for the middle market, has been named a Value Leader in Spend Matters' Fall 2020 SolutionMap for AP Automation. In addition to being a Value Leader, AvidXchange outranked competitors in the Fall 2020 SolutionMap for both Invoice-to-Pay and AP Automation based on customer scores, receiving the highest marks in areas like quick deployment, ROI, business value and innovation.

AvidXchange is purpose built for the middle market, offering more than 180 integrations with the most widely used accounting systems to support quick implementations so businesses can automate without disrupting operations. Backed by more than 680,000 suppliers in the AvidPay Network, AvidXchange's cloud-based solution supports multiple electronic payment options to enable more visibility so businesses can better control cash flow. Middle market AP teams also receive support from AvidXchange's 400-person supplier services team when they automate payments with AvidPay, alleviating the burden that comes with transitioning suppliers away from paper checks.

"Before automation, our AP and payment processes were paper-based, time consuming and required a member of our team to physically be in the office to cut checks," said Brian Murphy, Director of JD Edwards Business Services at Island Hospitality Management. "When we implemented AvidXchange, we eliminated the use of paper checks, making it possible to make and receive payments from anywhere, anytime which has been vital during these times."

"Middle market businesses pay everyone from companies with a handful of employees to multi-billion dollar corporations, so they need a solution that eliminates paper invoices and checks while supporting many different types of suppliers," said Michael Praeger, CEO of AvidXchange. "Our Value Leader position with Spend Matters is a testament to AvidXchange's unique ability to meet that need and drive value for our middle market customers to help them operate more efficiently."

Spend Matters is the leading solution intelligence source for procurement and supply chain professionals. Providing semiannual SolutionMaps, Spend Matters helps businesses keep up with technology advancements and identify providers that best fit their needs based on in-depth analyst insights and customer input.

To learn more, visit spendmatters.com/solutionmap/.

About AvidXchange™
AvidXchange is the industry leader in automating invoice and payment processes for mid-market businesses. With 1,500 employees supporting 6,000 customers across North America, AvidXchange processes over $140 billion transactions annually across its network of more than 680,000 suppliers. To learn more about how AvidXchange is transforming the way companies pay their bills, visit www.AvidXchange.com.

About Spend Matters
Spend Matter is the leading solution intelligence source for procurement and supply chain professionals. Combining deep technology analysis and tailored advisory services with daily news coverage and subscription research, Spend Matters is trusted by CPOs, consultants, investors and solution providers alike as their procurement technology intelligence partner. Spend Matters is owned and managed by Azul Partners, Inc.

View original content:http://www.prnewswire.com/news-releases/avidxchange-named-a-leader-in-ap-automation-for-the-middle-market-by-spend-matters-301178847.html

SOURCE AvidXchange