AvidXchange and MIP Partner on AP Automation for Nonprofits

AvidXchange and MIP Fund Accounting by Community Brands partnered to provide a fully digitized invoice-to-pay process to nonprofit groups.

With this collaboration, AvidXchange’s accounts payable (AP) automation solution has been integrated into MIP’s cloud-based, software-as-a-service (SaaS) fund accounting solution for nonprofits and government organizations and will be offered to MIP’s 6,000 customers, the companies said in a Thursday (May 23) press release.

“We’ve been in the business for more than 40 years and realize that now more than ever, it’s important to focus on efficiency and security, and we’re excited to now offer both with this partnership and integration,” Neil Taurins, general manager of MIP at Community Brands, said in the release.

The API integration between AvidXchange and MIP allows customers to sync general ledger (GL) codes, vendor lists, invoices and payments, according to the release.

The fully digitized invoice-to-pay process created by this integration also includes configurable user permissions, transparency into dataflows between the systems, custom workflows that support additional layers of control on the platform, and real-time data and insights into the organization’s finances, the release said.

These capabilities will help nonprofits and government organizations overcome the challenges they often face with the manual back-office processes they currently use, Dan Drees, president of AvidXchange, said in the release.

“We have a long history of providing services to these organizations and are thrilled to announce our partnership with MIP, as well as this API integration, to continue offering relief and time back to the people working hard to make a difference in our communities,” Drees said.

PYMNTS Intelligence found that AP automation streamlines the source-to-pay cycle.

Among firms that invested in digital technologies and automation of the purchase order and invoice payment processes, 83% said it reduced payment friction, 77% said it reduced invoicing errors, and more than one-third said it reduced days of delay in invoice tracking, according to the PYMNTS Intelligence study “Solving Accounts Payables’ Top Frictions with Automation.”

In another collaboration, AvidXchange said in November 2023 that it formed an integration partnership with AppFolio to enhance AP automation benefits for AppFolio’s 19,000 real estate customers.

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