AvidXchange Launches Invoice-to-Pay Integration Built for Multi-Industry Provider, Blackbaud Financial Edge NXT®

Rhea-AI Summary

AvidXchange (Nasdaq: AVDX) announced an API integration with Blackbaud Financial Edge NXT, enhancing accounts payable automation for middle market businesses. This integration allows seamless syncing of GL codes, vendor lists, invoices, and payments, improving efficiency and security in payment processing. As a result, organizations can save time and reduce costs while minimizing fraud risks. AvidXchange services over 8,000 businesses and has processed payments for over 825,000 suppliers in the past five years, reinforcing its position in the AP automation sector.

Positive

• API integration with Blackbaud enhances efficiency and security.
• Seamless syncing of financial data improves payment processing.
• Service to over 8,000 businesses indicates strong market position.
• Processed payments for over 825,000 suppliers in five years shows robust growth.

Negative

• None.

CHARLOTTE, N.C., Aug. 15, 2022 (GLOBE NEWSWIRE) -- AvidXchange (Nasdaq: AVDX), a leading provider of accounts payable (AP) automation software and payment solutions for middle market businesses and their suppliers, today announced an application programming interface (API) integration with Blackbaud Financial Edge NXT®, a cloud fund accounting solution designed specifically to meet the unique compliance needs of social good entities such as health care, education and nonprofit organizations.

This seamless integration built on the AvidConnect platform enables automatic syncing of GL codes, vendor lists, invoices and payments between AvidSuite, which includes AvidInvoice and AvidPay, and Blackbaud Financial Edge NXT. Because of this, businesses and organizations can incorporate a more efficient and secure way to process invoices and make payments. Furthermore, by automating the AP process via one centralized platform, customers can experience time and cost savings, as well as heightened security against fraud, as they rely less on completing these tasks manually and leverage electronic payments rather than legacy paper check and mail services.

“We’re excited to bring new innovation to our Financial Edge NXT customers with this integration from AvidXchange,” said Page Bullington, Vice President of Global Alliances at Blackbaud. “Our goal is to simplify workflows to enable our customers to be more efficient and effective, and this technology will do just that.”

“We are proud to deepen our partnership with Blackbaud and solve the complex problems our mutual customers are facing by providing them with a seamless solution for automating their many invoices and payments,” said Traci Capraro, Business Line Executive for Emerging Markets at AvidXchange. “By automating mundane manual AP tasks for companies in the industries that Blackbaud serves, their staff can work on more rewarding work which can have a positive impact on employee retention.”

“AvidXchange is pleased to bring the AvidConnect platform to Blackbaud and their Financial Edge NXT customers,” said Dan Drees, Chief Growth Officer of AvidXchange. “This new API centric platform enables higher reliability, faster syncs and easier connections that give CFOs and AP professionals the real-time data they need to run their business in our digital world.”

To learn more, visit: https://www.avidxchange.com/solutions/avidsuite-for-blackbaud/.

About AvidXchange™
AvidXchange is a leading provider of accounts payable (“AP”) automation software and payment solutions for middle market businesses and their suppliers. AvidXchange’s software-as-a-service-based, end-to-end software and payment platform digitizes and automates the AP workflows for more than 8,000 businesses and it has made payments to more than 825,000 supplier customers of its buyers over the past five years. 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 www.AvidXchange.com.

Contact
Olivia Sorrells
osorrells@avidxchange.com
386-848-3656

FAQ

What is AvidXchange's recent API integration announcement about?

AvidXchange announced an API integration with Blackbaud Financial Edge NXT to enhance accounts payable automation.

How does the AvidXchange and Blackbaud integration benefit customers?

The integration allows seamless syncing of invoices, payments, and vendor lists, improving efficiency and reducing fraud.

What impact does AvidXchange's integration have on their business operations?

The integration streamlines AP processes, leading to time and cost savings for users.

What is the stock symbol for AvidXchange?

The stock symbol for AvidXchange is AVDX.

How many businesses does AvidXchange serve?

AvidXchange serves over 8,000 businesses.