AvidXchange Rolls Out PO Features For Accounting Systems

Accounts payable (AP) and payment automation company AvidXchange revealed new purchase order (PO) functionality for five accounting systems, including Intuit QuickBooks, Oracle NetSuite, Microsoft Dynamics 365 Business Central, Microsoft Dynamics GP and Sage Intacct, according to a press release on Wednesday (April 14).

CEO Michael Praeger said in the announcement that the company “cultivated a partner ecosystem that offers 180 pre-built integrations, so we can help middle market finance teams curate a technology stack that meets their unique needs and removes the paper from their payments without disrupting daily operations.”

AvidXchange links up with different accounting software for the middle market to form an “end-to-end” system for handling spending, according to the release.

Information is synched without intervention across all software, and AP managers don’t have to input invoice information on their own because of bidirectional application programming interface (API) integrations and three-way purchase order (PO) matching. That configuration saves time and assists in reducing payment mistakes. It also provides greater control and visibility to firms within their accounting system of record, according to the release.

“When deciding on an AP automation tool, it was an easy decision to choose AvidXchange because we knew it partnered well with Sage Intacct,” Karen Russell, chief account officer and vice president of accounting at Oryx Midstream Services, per the release.

According to the release, finance workforces can put an expandable system into place that supports later expansion while automatically syncing important information and workflows “on day one” by harnessing one of AvidXchange’s 180 accounting system integrations.

In January, AvidXchange announced that it had purchased Core Associates, the AP software solutions platform, to further automation in the construction industry and midmarket companies. Core Associates is the creator of TimberScan and other complementary AP technologies.

AvidXchange has 1,500 employees who support 6,000 clients throughout North America. The company processes over $140 billion transactions yearly with over 680,000 vendors paid via its network, according to the release.