Accounts payable (AP) and payment automation provider AvidXchange has rolled out a connection with Concur® Invoice for vendor payments.
The connection lets Concur Invoice clients make bill payments more efficiently by providing digital payment choices to vendors through the AvidPay Network, with the inclusion of AvidPay Direct and virtual card, according to a Tuesday (Nov. 10) announcement.
Concur Invoice lets companies ingest and digitize invoices via machine learning, integrating the payments in one system to supervise expenditures. With the collaboration, users of the program have visibility to simplify approvals and accelerate the transfer of money by finishing the AP workflow via AvidPay.
Clients who send digital payments via the AvidPay network experience quick and safe payments, ensuring that vendors receive correct and on-schedule payments, according to the announcement. In addition, they get support from the AP company’s 400-person supplier services workforce to take care of payment questions and keep track of vendors’ payment preferences.
“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,” AvidXchange CEO and Co-founder Michael Praeger said in the announcement. “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, anytime.”
Access to the AvidPay network for clients of Concur Invoice is now available through the SAP Concur App Center. For its part, AvidXchange processes more than $140 billion in transactions yearly throughout its network of over 680,000 vendors.
In September, AvidXchange announced that it had launched its “Boost your Business” initiative. The program helps firms with moving to online billing and payments in under 45 days. Finance staffers that participate in the initiative receive a dedicated project manager and free online learning tools through the AvidXchange Academy.