AvidXchange Announces New FastPay Political+ Platform Automating the Buying and Selling Process for Political Media Agencies
21 January 2022 - 1:00AM
AvidXchange Holdings, Inc. (“AvidXchange”) (Nasdaq: AVDX), a
leading provider of accounts payable and payment automation
solutions for the middle market, today announced FastPay
Political+, a major enhancement of the company’s industry leading
platform FastPay Political, designed to help political agencies and
media suppliers nationwide automate the media buying and selling
process.
FastPay Political+ offers three new critical features within its
payment automation platform including:
- Direct integration with industry-leading media buying
system.
- Automation with check mailing functionality within the
continental U.S. that provides digital check copies, embedded
tracking numbers, and different shipping method options.
- Upgraded virtual commercial card management tool that allows
customers the ability to create, manage, and reconcile digital
virtual commercial credit card payments with enhanced transaction
reports.
“According to AdImpact, the political industry is projected to
spend over $9 billion in advertising during a historic 2022
mid-term election, and we knew we needed to deliver an enhanced
platform to best support our customers during this time of
anticipated exponential growth,” said Secil Baysal, Senior Vice
President & General Manager of Media at AvidXchange. “We’re
confident FastPay Political+ will help agencies operate at maximum
efficiency during this time by automating and reducing existing
pain points within the manual payments process.”
“Our longstanding partnership with FastPay has gotten even
stronger with FastPay Political+, which enables our team to worry
less about when and if media payments have been delivered and focus
more on our agency’s winning formula for our clients,” says Patrick
Kennedy, CFO of AL Media.
To learn more about FastPay Political+, visit:
https://gofastpay.com/fastpay-political/.
About AvidXchange
AvidXchange is a leading provider of accounts payable (“AP”)
automation software and payment solutions for middle market
businesses and their suppliers. AvidXchange’s
software-as-a-service-based, end-to-end software and payment
platform digitizes and automates the AP workflows for more than
7,000 businesses and it has made payments to more than 700,000
supplier customers of its buyers over the past five years.
Forward-Looking Statements
This press release may contain “forward-looking statements”
within the meaning of the U.S. Private Securities Litigation Reform
Act of 1995. In this context, forward-looking statements generally
relate to future events or our future financial or operating
performance and often contain words such as: “anticipate,”
“intend,” “plan,” “goal,” “seek,” “believe,” “project,” “estimate,”
“expect,” “future,” “likely,” “may,” “should,” “will” and similar
words and phrases indicating future results. These forward-looking
statements are made on the basis of management’s current
expectations, assumptions, estimates and projections and are
subject to significant risks and uncertainties that could cause
actual results to differ materially from those anticipated in such
forward-looking statements. We therefore cannot guarantee future
results, performance or achievements.
Factors which could cause actual results or effects to differ
materially from those reflected in forward-looking statements
include, but are not limited to, the risk factors and other
cautionary statements described in registration statements and
periodic reports we file with the SEC, including our prospectus as
amended and filed with the SEC pursuant to Rule 424(b)(4) on
October 14, 2021 which may be obtained on the investor relations
section of our website (https://ir.avidxchange.com/) and on the SEC
website at www.sec.gov. Any forward-looking statements made by
us in this press release are based only on information currently
available to us and speak only as of the date they are made, and we
assume no obligation to update any of these statements in light of
new information, future events or otherwise unless required under
the federal securities laws.
Contact
Olivia Sorrellsosorrells@avidxchange.com980-643-7889
AvidXchange (NASDAQ:AVDX)
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