AvidXchange Debuts Invoice-to-Pay API for QuickBooks Online 

AvidXchange has released an invoice-to-pay application programming interface (API) integration with Intuit QuickBooks Online. 

With this new solution, QuickBooks Online users can add an accounts payable (AP) and payment solution that is fully automated, end-to-end and cloud-based, AvidXchange said in a Tuesday (Dec. 6) press release. 

“This is an exciting new integration for us, as well as the middle market as a whole, as we expand our capabilities across more existing platforms,” AvidXchange Chief Growth Officer Dan Drees said in the release. 

The new offering enables automatic syncing of accounting codes, vendor information, invoices and payments, helping customers save the time they are currently spending manually handling these AP tasks, according to the press release. 

Because it allows the AP process to be conducted through a cloud-based platform, the solution also provides more insight and transparency into payments data so that customers can learn from each transaction, the release said. 

In addition, by enabling digital payments to vendors, the solution reduces customers’ need to buy envelopes, stamps and paper checks and make trips to the bank, per the release. 

“Adding an integration for QuickBooks Online to our existing QuickBooks portfolio showcases our dedication to improving our solutions to meet the needs of our customers today,” Drees said in the release. 

This announcement comes about three months after AvidXchange debuted an API integration with Blackbaud Financial Edge NXT, a cloud-based accounting system focused on the nonprofit sector. 

PYMNTS research has found that nine out of 10 chief financial officers (CFOs) said their companies were either investing in payments digitization already or have plans to do so in the future. 

Eighty-three percent of CFOs said their digitization investments improved fraud prevention and risk management functions. In contrast, 77% said the investments led to improvements in their management of working capital and credit, according to “Digitization Strategies: How CFOs Are Prioritizing Digital Payments To Maximize Efficiency,” a PYMNTS and Corcentric collaboration.