AvidXchange announces integration with Concur Invoice

CHARLOTTE, N.C., Nov. 10, 2020 /PRNewswire/ -- AvidXchange, the leading provider of accounts payable (AP) and payment automation solutions for the middle market, today launched an integration with Concur® Invoice. This streamlined, cloud-based integration allows Concur Invoice customers to pay bills more efficiently by offering flexible e-payment options to suppliers through the AvidPay Network, including virtual card and AvidPay Direct – a proprietary ACH+ product leveraging ACH with enhanced information.

"Because the majority of B2B payments are still made with paper checks, we are partnering with the SAP® Concur® organization to bring a fully automated invoice-to-payment integration to customers," said Michael Praeger, CEO and co-founder of AvidXchange. "We're proud to offer Concur Invoice customers access to the AvidPay Network through our partnership, allowing them to make payments and carry out critical business processes from any location, any time."

"Now that we are processing payments electronically using AvidPay, we have full visibility into vendor payment status," said Tracey Covington, accounts payable and payroll coordinator at Chattanooga Christian School, an early user of the AvidPay integration with Concur Invoice. "I love being able to sit down and press a button and payments are done. It's such a smooth process."

Concur Invoice allows businesses to capture and automate invoices using machine learning, integrating those payments into a single system to manage spending. Through this partnership, Concur Invoice customers have visibility to streamline approvals and speed the transfer of funds by completing the AP process with AvidPay. Customers sending e-payments through the AvidPay Network experience fast and secure payments, ensuring suppliers are paid accurately and on time. They also receive support from AvidXchange's 400-person supplier services team to field payment inquiries and maintain payment preferences on behalf of suppliers so internal teams can focus on more value-add tasks.

Access to the AvidPay Network for Concur Invoice customers is now available in the SAP Concur App Center.

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

Any statements in this release that are not historical facts are forward-looking statements as defined in the U.S. Private Securities Litigation Reform Act of 1995. All forward-looking statements are subject to various risks and uncertainties described in SAP's filings with the U.S. Securities and Exchange Commission ("SEC), including its most recent annual report on Form 20-F, that could cause actual results to differ materially from expectations. SAP cautions readers not to place undue reliance on these forward-looking statements which SAP has no obligation to update and which speak only as of their dates.

SAP and other SAP products and services mentioned herein as well as their respective logos are trademarks or registered trademarks of SAP SE in Germany and other countries. Please see https://www.sap.com/copyright for additional trademark information and notices. All other product and service names mentioned are the trademarks of their respective companies.

SOURCE AvidXchange

Related Links

www.avidxchange.com

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