AvidXchange, an accounts payable (AP) automation software and payment solutions for middle market businesses and their suppliers, has announced an application programming interface (API) integration for Acumatica that provides an automated, end-to-end purchase-to-pay (P2P) process via the combined TimberScan Titanium and AvidPay platform.
This allows AvidXchange to expand capabilities for Acumatica’s most popular industries, including construction, technical, business services, retail and manufacturing, that leverage its leading cloud enterprise resource planning (ERP) software.
“AvidXchange and Core Associates are longtime Acumatica Marketplace partners,” says Christian Lindberg, VP of Partner Solutions at Acumatica Inc. “Expanding the proven TimberScan Titanium solution across all verticals provides Acumatica customers with more choice.”
Tyler Gill, AvidXchange's VP of Strategic Partnerships & Alliances, says the company is excited about the integration launch. "With Acumatica, even more finance professionals in the middle market will have access to the industry leading TimberScan Titanium and AvidPay solution. Together, we answered our customers’ call to provide a cloud-based, seamless P2P solution and we’re proud of the API integration we delivered.”
AvidXchange's Chief Growth Officer Dan Drees says as middle market businesses continue to shift in response to today’s evolving economy, leaders are seeking new technology to strengthen their business operations. "The AP process is a great place to start. “Employees who impact the bottom line now more than ever should be equipped with integrations and solutions to help them eliminate repetitive, mundane tasks in their daily lives, and instead focus on continuity planning and big picture strategies for the business.”
In my very brief review of the new AvidSuite for Acumatica, here's what the new functionality appears to mean:
- Integration will put a stop to the endless stacks of paper via use of electronic invoices and payments
- Allows users to review, code and approve payments within minimal effort, saving time and money
- Automated invoicing and payments should get suppliers paid faster with less risks
- From the PO to the invoice and the payments, users should gain greater control over their AP workflow
- All these tasks now can be remotely managed via the cloud-based platform; the result is reduced operating costs for AP over the traditional in-office environment
- Substantial increase in financial security comes from leveraging options for e-payments
- Allows companies to keep or create custom workflows (including permission settings and business rules enforcement) to ensure the accuracy of their data
- Provides online records management, which greatly simplifies reporting and auditing requirements
You can find out more about the new integration between AvidXchange and Acumatica HERE.
Acknowledgements and Disclosures:
You can read the related formal press announcement, including the AvidXchange Forward Looking Statement HERE.
Portions of this feature, including graphical artwork contained herein, have been adapted from AvidXchange source content. All such source materials within this feature were adapted by Insightful Accountant solely for educational purposes.
As used herein, AvidXchange refers to one or more registered trademarks of AvidXchange Holdings, Inc. (AvidXchange' NASDAQ: AVDX), a publicly-traded corporation headquartered in Charlotte, North Carolina (USA).
Acumatica, as used herein, refers to one or more registered trademarks of Acumatica, Inc., a privately-held, multi-national corporation, headquartered in Kirkland, WA (USA). Acumatica has been privately held by the private equity firm EQT of Stockholm, Stockholms Lan, Sweden, since 2019.
Any other trade names used herein, including those of the sponsors (vendors) featured within this article, refer to products that may be registered, trademarked, or otherwise held by their respective owners; they are referenced for informational and educational purposes only.
This is an editorial feature, not sponsored content. No company or other person mentioned within this article has paid Insightful Accountant or the author any form of remuneration to be the subject of this feature. The article is provided solely for informational and educational purposes.
Publication of this article should not be interpreted as any form of endorsement by either the author or Insightful Accountant.
Like what you're reading?
Subscribe to our FREE newsletter and we'll deliver content like this directly to your inbox.