AvidXchange CEO Shares His Vision for Revolutionizing Software-Enabled Payments on Today's Marketplace

Rhea-AI Summary

AvidXchange CEO Michael Praeger discusses the importance of software-enabled payments for middle-market companies in an interview with Today's Marketplace. Praeger highlights how AvidXchange's AP automation solutions are revolutionizing the way businesses manage their expenses, reduce costs, and stay competitive in today's marketplace.

NEW YORK, April 18, 2024 /PRNewswire/ -- Today's Marketplace (TMP) is proud to announce a featured interview with AvidXchange CEO & Co-Founder Michael Praeger, who shares his game-changing solutions for software-enabled payments.

The middle-market segment has unique problems in how they approve, manage, and actually pay their suppliers and vendors.

Did you know that late payments resulting in late fees can be particularly distressing for middle-market organizations? That is why many companies are making accounts payable (AP) automation a top priority to reduce costs and stay competitive. AvidXchange is helping transform AP into a software-enabled service to improve efficiency and bolster businesses' financial health.

"We automate the accounts payable and the payment process for middle-market companies," said Praeger to Host Jane King. "We focus on the middle-market segment, which is different from small-business or enterprise, and what we find is the middle-market segment has unique problems in how they approve, manage, and actually pay their suppliers and vendors." Praeger outlines how AvidXchange's software is "…integrated to the buyers' core accounting systems to make it a seamless process for them in executing and managing all their expense transactions."

Just as AvidXchange is leading the way for AP automation, the Heider College of Business is building the future of FinTech. Dean and Professor of Business Intelligence & Analytics at Creighton University, Anthony Hendrickson, PhD addresses the need for finance students to stay current with evolving FinTech advancements. "Financial fraud poses a significant threat to middle market companies. Our new FinTech major prepares students to become immediate contributors at firms with innovative software like AvidXchange. Together, great software and well-educated graduates empower businesses to implement robust safeguards against fraudulent activities, ensuring their financial integrity and sustained growth in an increasingly complex marketplace."

TMP produces compelling interviews covering complex and important topics for investor-facing distribution. "I'm thrilled to have had the opportunity to appear on Today's Marketplace to discuss our solutions at AvidXchange," said Praeger. "Automating the accounts payable process is becoming increasingly crucial for companies looking to reduce costs and drive efficiencies, and AvidXchange is committed to powering this transformation."

About AvidXchange®
AvidXchange is a trusted, leading provider of accounts payable ("AP") automation software and payment solutions for middle market businesses and their suppliers. AvidXchange's Software-as-a-Service ("SaaS") based, end-to-end software and payment platform digitizes and automates the AP workflows for over 8,000 buyer customers, and it has made payments to more than 1,200,000 supplier customers of its buyers over the past five years. Additionally, AvidXchange, Inc. is a licensed money transmitter for US B2B payments, licensed as a Money Transmitter by the New York State Department of Financial Services, as well as all other states that require AvidXchange to have a license. 

To learn more about how AvidXchange, and its publicly traded parent AvidXchange Holdings, Inc. (Nasdaq: AVDX), are transforming the way companies pay their bills, visit AvidXchange.com.

About Creighton University, Heider College of Business

Creighton University is a Jesuit University located in Omaha, Nebraska.  The Heider College of Business prides itself as one of the most connected schools of business with real-world business practice.  It is one of only a handful of universities with a new FinTech major, designed to allow students to become immediate contributors in today's complex and rapidly changing business environment. For more about Creighton and the Heider College visit www.Creighton.edu.

About Today's Marketplace 

Today's Marketplace (TMP) is a series of C-Suite interviews filmed at the prestigious New York Stock Exchange (NYSE) and the NASDAQ MarketSite studio for earned media and targeted institutional and retail investor distribution. Financial news publishers and television broadcast directors can access and download the broadcast media assets here.

Visit TMP at todaysmarketplace.tv.

MEDIA CONTACT
Today's Marketplace
Dian Rygh, producers@cmghd.com

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SOURCE Today's Marketplace

FAQ

What solutions does AvidXchange provide for middle-market companies?

AvidXchange provides accounts payable (AP) automation solutions for middle-market companies to streamline the payment process and improve efficiency.

Why is AP automation important for middle-market organizations?

AP automation is important for middle-market organizations to reduce costs, manage suppliers and vendors effectively, and stay competitive in the marketplace.

How does AvidXchange's software help middle-market companies?

AvidXchange's software is integrated with buyers' core accounting systems to simplify expense transactions and improve overall financial health.

What is the significance of FinTech in the middle-market segment?

FinTech plays a vital role in combating financial fraud and empowering businesses to implement robust safeguards against fraudulent activities.

Why is it important for finance students to stay current with FinTech advancements?

Finance students need to stay current with FinTech advancements to become immediate contributors at firms and help implement innovative software solutions like AvidXchange.

How does AvidXchange contribute to reducing costs and driving efficiencies for companies?

AvidXchange's commitment to automating the accounts payable process helps companies reduce costs, drive efficiencies, and stay competitive in the marketplace.