AvidXchange Among Apps Top 500

1210 AvidXchange Lane

Charlotte, NC, 28206, United States

1 800-560-9305

http://www.avidxchange.com/

421

AvidXchange Strengths, Domain Expertise, and Key Differentiators

AvidXchange provides accounts payable solutions that streamlines invoice capture, intelligently routes approvals and automates payments reducing costs, improving productivity and eliminating paper from the process. As the first SaaS technology vendor to automate invoice processing, AvidXchange works with vendors to electronically send and receive invoices through the AvidBill Network and has standard integration to more than 100 accounting systems. AvidInvoice significantly reduces operating costs and improves productivity in a company's accounts payable department. AvidPay eliminates 100% of paper checks from the company's payment processes, maintains vendor information and payment preferences, and facilitates payments for every invoice, every vendor, and every bank.

In February 2017, AvidXchange unveiled new offerings for suppliers by the name of AvidXchange Cashflow Manager. AvidXchange Cashflow Manager gives suppliers access to a portal where they can view the status of receivables and take advantage of a payment advancement feature to have power over their cash flow.

AvidXchange Recent Developments

In May 2020, AvidXchange launched the AvidXchange Academy, a virtual resource center dedicated to ensuring customer success by offering enhanced learning and training opportunities. AvidXchange Academy gives users access to free on-demand resources, formal training programs and a community of fellow customers to help them connect, earn valuable credentials and grow their careers.

In Octomber 2019, AvidXchange launched AvidPay and AvidInvoice for the long-term healthcare and social services industry. By eliminating manual, back-office processes through the automation of their accounts payable and payments, healthcare and social services organizations can reduce operational costs and focus resources on more impactful initiatives for patients and residents. With AvidXchange, care facilities also gain greater visibility and control over financial data, helping them meet increasing regulatory and HIPAA compliance requirements with in-depth reporting capabilities and an easily referenceable audit trail.

In June 2017, AvidXchange partnered with Mastercard to deliver accounts payable and payment automation to small and midsize businesses. To support AvidXchange's continued growth and ability to scale operations for strategic ventures, the company announced the signing of $300 million in financing with contributions from Caisse de dépôt et placement du Québec (CDPQ), Mastercard, Temasek, and Peter Thiel.

AvidXchange Mergers and Acquisitions (M&A) Activities

In November 2017, AvidXchange acquired Ariett, a leading cloud solution provider in the fast-growing purchase-to-pay market. The acquisition enabled the current, and future, joint customer base to benefit from the complementary solutions that will deliver an industry-leading purchase-to-pay experience.

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 AvidXchange Cloud, customers.

AvidXchange Key Enterprise and Cloud Applications

AvidXchange Cloud,

AvidXchange Revenues, $M:

Type/Year 2018 2019 YoY Growth, %
Total Revenues, $M Subscribe Subscribe Subscribe
Enterprise Applications Revenues, $M Subscribe Subscribe Subscribe
Cloud Applications Revenues, $M Subscribe Subscribe Subscribe

* Enterprise Applications Revenues = License + Support & Maintenance + SaaS
** All revenue figures are estimates based on public records, Cloud and Non-Cloud business models in Apps Run The World's vendor database, and annual survey results including vendor feedback.

AvidXchange Revenue Breakdown By Type, $M:

Type License Services Hardware Support & Maintenance SaaS
% of Total Revenues Subscribe Subscribe Subscribe Subscribe Subscribe
Revenues, $M Subscribe Subscribe Subscribe Subscribe Subscribe

AvidXchange Revenues By Region, $M

Region % of Total Revenues 2019 Total Revenues, $M 2019 Enterprise Applications Revenues, $M 2019 Cloud Applications Revenues, $M
Americas Subscribe Subscribe Subscribe Subscribe
EMEA Subscribe Subscribe Subscribe Subscribe
APAC Subscribe Subscribe Subscribe Subscribe
Total Subscribe Subscribe Subscribe Subscribe

AvidXchange Direct vs Indirect sales

Region Direct Sales Indirect Sales Total
Type % Subscribe Subscribe Subscribe
Revenues, $M Subscribe Subscribe Subscribe

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

List of Verified AvidXchange Customers


No. of AvidXchange Customers: 6000

No. of AvidXchange Enterprise Applications Customers: 6000

No. of AvidXchange Cloud Customers: 6000

No. of AvidXchange Cloud Subscribers: 500000


AvidXchange serves more than 5,500 clients throughout North America. Among AvidXchange customers are The Abbey Company, Advance Realty Group, Branch Properties, Canderel, Collier's International, Community Trust Bank, LBA Realty, NorthMarq, NTS Development Company, RFR Realty, LLC, Ramco-Gershenson Properties Trust, Shea Properties, Vedder Community Management, and others.

AvidXchange Market Opportunities, M&A and Geo Expansions

In April 2020, AvidXchange has raised an additional $128 million in equity capital. This latest financing effort was oversubscribed with a total of more than $388 million raised and includes AvidXchange’s previously announced closing of $260 million in equity financing earlier this year. Contributing investors represent a diverse cohort of the foremost capital management firms, including Lone Pine Capital, Schonfeld Strategic Advisors, Pivot Investment Partners, Mastercard, Sixth Street Partners and Neuberger Berman on behalf of clients.

In January 2020, AvidXChange has raised $260 million in equity capital as part of the company’s latest financing round. With contributions from TPG Sixth Street Partners and other leading investors, this brings total funding to more than $800 million over the company’s 20-year history. The new capital will fuel AvidXchange’s continued growth and innovation, allowing the company to invest in its solutions for both buyers and suppliers while reaching more customers in the middle market.

In April 2018, AvidXchange and GCPay launched accounts payable automation solution for construction firms. Through a strategic partnership with GCPay, the construction industry's leading online platform for automating subcontract management processes, the solution's Construction Payment Exchange powered by AvidXchange, encompasses end-to-end features that efficiently manage the entire project lifecycle and solves for the complexities of the lien waiver process.

In May 2017, AvidXchange partnered with Vroozi, a leading cloud-based business purchasing platform. AvidXchange and Vroozi have formed a strategic partnership to deliver clients a best-in-class experience from procurement through invoice payment. For many organizations, purchasing and payables are done across multiple locations using many different suppliers, which can cause inefficiencies and inaccuracies.

AvidXchange Risks and Challenges

Integrating Cloud applications from Strongroom could take some time and effort.

AvidXchange Ecosystem, Partners, Resellers and SI

Some of AvidXchange's recent partnerships include Tribridge, InterDyn BMI, Massey Consulting, Oasis Solutions, Sikich, Crestwood Associates, [email protected], RKL, LBMC, Maner Costerisan, Express Information Systems, Kerr Consulting, DSD, The Resource Group, PC Bennett, Bennett/Porter, Greer-Walker, Cross Country, Business Solutions Partners, Appsolute Consulting, and Microaccounting. Featured Affiliate Partners are SKYLINE, CenterSoft BusinessSolutions, Larksource, Lynx Systems, Inc., JD Consulting, Inc., Multifamily Services, NWP Services Corporation, NetVendor, Teel Stratvisor Group, and TOPS Software.

Among AvidXchange Solutions Integrations partners are AccountMate, Acumatica, AMSI, BankTEL Systems, BJ Murray, Blackbaud, Caliber Software, CenterSoft, CTI, Data Plus, Deltek, Fiserv, Harland Financial Solutions, Home Grown Systems, Integrated Business Systems, Infor, Intacct, Oracle, Jenark, Maxwell Systems, Microsoft, MRI Software, Netsuite, Oracle, Quickbooks, Relapage, Sage, SAP,SS;C Skyline, SOS Corporation, SouthWare, Spectrum, and Yardi.

AvidXchange Cloud Infrastructure Insights

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  • AvidXchange Public Cloud and Infrastructure (IaaS)
  • AvidXchange Platform (PaaS)
  • AvidXchange Application Delivery
  • 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).


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