AvidXchange Named Top-Tier Software Vendor by APPS RUN THE WORLD in the APPS and CLOUD TOP 500 Market Report

AvidXchange Strengths, Domain Expertise, and Key Differentiators

AvidXchange with tools like AvidAnalytics, AvidInvoice, and Lien Waiver Management for TimberScan, it empowers middle-market businesses with robust business intelligence capabilities, streamlined invoice processing, and enhanced payment automation. AvidXchange's strengths lie in its ability to seamlessly capture invoices, automate approvals, and facilitate electronic payments, thereby reducing costs, boosting productivity, and eliminating paper-based processes. As pioneers in SaaS technology for invoice processing automation, AvidXchange's integration with over 225 accounting systems and its AvidBill Network enable efficient electronic invoice exchange. AvidInvoice significantly cuts operating costs and enhances productivity in the accounts payable department, while AvidPay revolutionizes payment processes by eliminating paper checks and facilitating payments for every invoice, vendor, and bank, solidifying its position as a leader in AP automation within the SaaS landscape.

AvidXchange Recent Developments

In 2023, AvidXchange introduced two significant enhancements to its solutions: AvidAnalytics, a premium Business Intelligence tool tailored for middle market businesses, offering custom reporting methods and actionable insights to improve spend management and efficiency; and Lien Waiver Management for TimberScan, a feature streamlining payment processes in the construction industry by automating lien waiver tracking, reducing delays, and enhancing supplier relationships with real-time status checks.

AvidXchange Mergers and Acquisitions (M&A) Activities

In July 2021, AvidXchange announced the inclusion of FastPay, a prominent provider of payments automation solutions in the media industry, into its network. This strategic move broadens AvidXchange's array of automated payment technologies and services, targeting middle-market entities within the U.S. media sector.

In January 2021, AvidXchange completed the acquisition of Core Associates, renowned for its TimberScan and associated AP solutions, trusted by over 30,000 users nationwide. This acquisition positions AvidXchange as a premier AP automation provider in the construction market, offering a comprehensive purchase-to-pay solution compatible with Sage 300 CRE (formerly Timberline), Sage 100 Contractor, Acumatica, and Sage Intacct Construction accounting systems.

In November 2017, AvidXchange acquired Ariett, a leading cloud solution provider in the burgeoning purchase-to-pay domain. This strategic move aligns with AvidXchange's vision to provide an unparalleled purchase-to-pay experience, leveraging synergies between the acquired solutions to benefit both current and prospective clients.

AvidXchange Customers in ARTW Customer Database

Leveraging a rigorous data-centric research methodology, APPS RUN THE WORLD asks the simple question: Who’s buying AvidXchange applications and why? And we provide the answers – supported by decades of research – to our clients around the world. Our Customer database has over 100 data fields that detail company usage of AvidXchange and other enterprise apps by function, customer size, industry, location, implementation status, partner involvement, Line of Business Key Stakeholders and IT decision makers contact details. List of Verified AvidBuy, AvidInvoice, AvidPay, AvidAscend customers.

AvidXchange Key Enterprise and Cloud Applications

AvidBuy, AvidInvoice, AvidPay, AvidAscend

AvidXchange Revenues, $M:

AvidXchange Revenue Breakdown By Type, $M:

AvidXchange Enterprise Applications Revenues By Functional Markets, $M:

AvidXchange Enterprise Applications Revenues By Verticals, $M:

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AvidXchange Direct vs Indirect sales

AvidXchange Customers - Breakdown by Geo, Size, Vertical and Product

List of Verified AvidXchange Customers

No. of AvidXchange Customers: 8800

No. of AvidXchange Enterprise Applications Customers: 8800

No. of AvidXchange Cloud Customers: x

No. of AvidXchange Cloud Subscribers: 500000

AvidXchange boasts a vast clientele exceeding 8,800 across North America, comprising notable entities such as The Abbey Company, Advance Realty Group, Branch Properties, Canderel, Colliers International, Community Trust Bank, LBA Realty, NorthMarq, NTS Development Company, RFR Realty, LLC, Ramco-Gershenson Properties Trust, Shea Properties, Vedder Community Management, and numerous others.

AvidXchange Market Opportunities, M&A and Geo Expansions

With its recent introductions of AvidAnalytics, offering tailored business intelligence solutions, and Lien Waiver Management for TimberScan, streamlining payment processes in the construction industry, AvidXchange is well-positioned to further solidify its presence as a leading provider of accounts payable automation software. Leveraging its extensive network and integration with over 225 accounting systems, AvidXchange can continue to expand its reach and enhance its offerings, catering to the evolving needs of middle-market businesses across various industries. Additionally, with a client base exceeding 8,800 clients in North America, there is significant potential for AvidXchange to deepen its relationships, drive customer loyalty, and explore new avenues for growth, positioning the company for continued success in the future.

AvidXchange Risks and Challenges

One potential risk for AvidXchange is increased competition in the accounts payable automation market, which could result in pricing pressures and reduced market share. Additionally, technological advancements and shifts in customer preferences may necessitate continuous innovation to maintain relevance and competitiveness. Moreover, dependencies on third-party integrations and network connectivity could expose the company to operational vulnerabilities and potential disruptions. Regulatory changes, cybersecurity threats, and economic downturns are further risks that could impact AvidXchange's operations and financial performance. Managing these risks effectively will be crucial for sustaining growth and mitigating potential challenges in the future.

AvidXchange Ecosystem, Partners, Resellers and SI

In 2023, AvidXchange is strategically positioned for growth through recent partnerships and integrations. The collaboration with Wise enables enhanced international payment capabilities, facilitating faster and cost-effective transactions for customers across borders. Moreover, the enhanced partnership with Vantaca empowers community association management professionals with streamlined invoice ingestion and payment processes, aligning with industry demands for efficiency. Additionally, the partnership with AppFolio marks AvidXchange as the first accounts payable partner in the AppFolio Stack™ Marketplace, demonstrating the company's commitment to providing best-in-class solutions for the real estate industry. These initiatives underscore AvidXchange's dedication to innovation and its potential for continued expansion within various sectors.

AvidXchange Cloud Infrastructure Insights

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• AvidXchange Public Cloud and Infrastructure (IaaS)
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• AvidXchange Private Cloud and Data Centers

Research Methodology

Data used in research reports are derived from publicly available documents, continuous surveys of applications vendors, customers, resellers, Independent Software Vendors, systems integrators and other verifiable sources.

Vendor shares and market forecast results are based on a combination of existing databases as well as demand side and supply side research conducted throughout the year with validation from vendors, customers, channel partners and documentations such as earnings releases and 10Q and 10K filings, vertical industry studies, regional and country-level statistics from public and private institutions(i.e. colleges, universities, government agencies and trade associations).

For additional information on our methodologies, here's the link: