Intuit QuickBooks Online Customers Increase Efficiency with Fully Automated AP and Payment Solution by AvidXchange
07 December 2022 - 1:00AM
AvidXchange (Nasdaq: AVDX), a leading provider of accounts payable
(AP) automation software and payment solutions for middle market
businesses and their suppliers, today announced an invoice-to-pay
application programming interface (API) integration with Intuit
QuickBooks Online (“QuickBooks Online”). This new offering provides
customers who rely on QuickBooks Online, a fully automated,
end-to-end, cloud-based AP and payment solution.
Built on the AvidConnect platform, this seamless integration
enables automatic syncing of accounting codes, vendor information,
invoices and payments via combined AvidInvoice, AvidPay and
QuickBooks Online technology. This helps customers with complex
needs, especially those who have outgrown their AP solution
provider or processes, save time spent on manually handling these
crucial AP tasks.
Additionally, when compared to manual processes or using paper
checks to pay vendors, this end-to-end automated process is overall
more efficient as the AP process is conducted through a singular
cloud-based platform. This also provides more insight and
transparency into the payment data which allows customers to learn
from each transaction, finding patterns, repeat payments and more.
Furthermore, its digital nature enables customers to reduce
accounting costs by reducing the need to buy envelopes and stamps
to mail paper checks and make trips to the bank to pay vendors.
“Adding an integration for QuickBooks Online to our existing
QuickBooks portfolio showcases our dedication to improving our
solutions to meet the needs of our customers today,” said Dan
Drees, Chief Growth Officer of AvidXchange. “This is an exciting
new integration for us, as well as the middle market as a whole, as
we expand our capabilities across more existing platforms.”
To learn more, stop by the AvidXchange booth (#B3) at QuickBooks
Connect in Las Vegas, NV from Dec. 7 – 9, 2022, or visit:
https://www.avidxchange.com/solutions/avidsuite-for-quickbooks/.
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
8,000 businesses and it has made payments to more than 825,000
supplier customers of its buyers over the past five years.
AvidXchange, Inc. is a licensed money transmitter for US B2B
payments, licensed as a Money Transmitter by the New York State
Department of Financial Services, as well as all other states that
require AvidXchange to have a license.
To learn more about how AvidXchange, and its publicly traded
parent AvidXchange Holdings, Inc. (Nasdaq: AVDX), are transforming
the way companies pay their bills, visit www.AvidXchange.com.
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. The information
presented in this press release related to our expectations of
future performance, as well as other statements that are not purely
statements of historical fact, are forward-looking in nature. 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, from time to time, in
AvidXchange’s filings with the Securities and Exchange Commission
(“SEC”), including, without limitation, AvidXchange’s Annual Report
on Form 10-K and other documents filed with the SEC, 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.
ContactOlivia Sorrellsosorrells@avidxchange.com
386-848-3656
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