Accounts Payable automation increases control and visibility into the bill payment process by reducing processing time, allowing early payment discounts and eliminating late fees. AvidXchange, is a company specializing in AP and payment automation for the midmarket. As a SaaS (News - Alert) technology vendor to automate invoice processing, AvidXchange works with suppliers to electronically send and receive all invoices through the AvidBill Network.
The company recently integrated with LCS, a developer of the property management software. This partnership is aimed at helping customers with more efficient and effective solutions and creating greater value for their joint clients by helping them save both time and money.
"Providing our customers with business-advancing services, like AvidPay, helps us continually enhance their Rent Manager experience and improve their operational efficiency," said Tony Little, chief technology officer at LCS.
"That's why we pursued the collaboration and are eager to see the benefits it will deliver to our clients," added Little.
LCS products include Rent Manager software, Net Dial Tone VoIP telephone systems, and enterprise-level hosting solutions via its Sentry Data Center.
Through the integration, Rent Manager Online users are able to enjoy a fully automated AP and payment experience that streamlines the invoice capture, invoice approval workflow, and bill payment process. AvidPay eliminates the need for 100 percent of paper checks from companies payment processes, maintains vendor information and identifies vendors' accepted payment types, and facilitates payments for every invoice, every vendor, and every bank.
"The seamless payment integration that we have with Rent Manager is creating a great experience for our joint clients, and we look forward to the adoption continuing so that more shared clients can not only enjoy the streamlined payment experience, but also capitalize on the ability to turn their AP departments into profit centers with our incentive program," commented Michael Praeger, chief executive officer and co-founder of AvidXchange.
AvidXchange’s AvidInvoice automates AP process by tracking invoices electronically, streamlining and enforcing approvals, and providing a central repository for anytime, anywhere access to invoice data. For bill payment, clients are able to simply select payments in their Bill Center and facilitate vendor payments using AvidPay—AvidXchange's business bill payment service—for secure payment execution. Within a few seconds, thousands of payments can be transferred from RMO to AvidPay.
Edited by Maurice Nagle