AvidXchange partners with SAP Concur & announces Concur invoice integration

By Pavithra R

AvidXchange, a FinTech provider of accounts payable (AP) and payment automation solutions for the middle market, has launched an integration with Concur Invoice. 

The new streamlined, cloud-based integration allows Concur Invoice customers to efficiently pay bills to suppliers by offering flexible e-payment options through the AvidPay Network, including virtual card & AvidPay Direct, a proprietary ACH+ product leveraging ACH with enhanced information.

“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. 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, any time,” said Michael Praeger, CEO and co-founder of AvidXchange.

Concur Invoice allows businesses to capture and automate invoices using machine learning (ML), integrating those payments into a single system to manage spending. It captures paper and electronic invoices, so as to capture all AP spending and simplify the entire process; from purchase requests to processing and payment. Through the collaboration, Concur Invoice customers will have visibility to streamline approvals and speed the funds transfer by completing the AP process with AvidPay.

Customers sending e-payments through the AvidPay Network experience secure and fast payments, ensuring suppliers are paid accurately on time. They will also receive support from AvidXchange’s 400 person supplier services team to field payment inquiries and maintain payment preferences on behalf of suppliers so that internal teams can focus on more value-add tasks.

“Now that we are processing payments electronically using AvidPay, we have full visibility into vendor payment status. I love being able to sit down and press a button and payments are done. It’s such a smooth process,” said Tracey Covington, accounts payable and payroll coordinator at Chattanooga Christian School, an early user of the AvidPay integration with Concur Invoice.

Founded in the year 2000, AvidXchange provides automating invoice and payment processes for mid-market businesses. The company’s solution portfolio includes Purchase Order Software, Automated Invoice Management Software, Bill Payment Software, Check Printing Software, Utility Bill Management Software.