To help protect its suppliers from payments fraud and security threats, AvidXchange released new functionality for Cashflow Manager, a small business solution designed to support accounts receivable processes by providing suppliers with visibility into transactions within the network. More than 300,000 of AvidXchange's +680,000 suppliers are now accepting e-payments, and supplier enrollment in enhanced ACH option AvidPay Direct (APD) has increased more than 30 percent over the last two months as AP teams look for more secure, reliable ways to make and receive payments. At Suiteworld 19 it also demonstrated its integration with NetSuite.CHARLOTTE, N.C., J/PRNewswire/ - AvidXchange, the leading provider of accounts payable (AP) and payment automation solutions for the middle market, is experiencing record high e-payment adoption rates in the AvidPay Network as businesses look to pay bills remotely and reduce their reliance on shipping and mailing services. Sage 300 CRE is not the only solution that AvidXchange integrates to. For construction firms processing hundreds of purchase invoices, the reduced risk of error through automation is significant.
The combination of AvidXchange and TimberScan delivers automation through the invoice-to-pay process, eliminating time in the process. It is ripe for automation throughout all stages of the process. Research has shown that the accounts payable is one of the most time consuming accounting function in recent years.
AVIDXCHANGE CASHFLOW MANAGER FULL
Core + AvidXchange Pay offers a seamless end-to-end payables solution to these Sage users, and to other ERP users, that provides full visibility along the way.” Enterprise Times: What does this mean As vendors are paid faster, this helps to build trusted relationships between businesses.įrank Grenci, CEO and co-founder of Core Associates commented: “TimberScan was built to automate workflows and optimize the handling of project documents specifically for construction companies and property management firms using Sage 300 CRE. This results in payments being both timely and to the correct party. AvidXchange has validated relationships with over 470,000 suppliers. This facilitates a secure, encrypted payment file transfer from the ERP system to the AvidPay Network.
It does this through its Create-A-Check product for integration. AvidXchange picks this up and makes the payment automatically and securely. The TimberScan solution then passes the invoice for payment. This allows direct access to the Sage 300 CRE and 100 Contractor data for Committed Cost (purchase orders and subcontracts) Job Cost codes and budgets, and Compliance items, such as current Certificate of Insurance on file. How does it connect? TimberScan uses Open Data Base Connectivity (ODBC). Timberscan offers a four step process for purchase invoice processing: The joint solution offers additional advantages to construction firms. By automating their AP, we’re reducing a painful, month-long process down to two or three days.” TimberScan offers AP automation for Sage CREīoth solutions offer integration points to Sage 300 CRE, which is widely used across the construction industry. “Combining AvidXchange with TimberScan expands our product by incorporating even more industry-specific functionality, allowing construction firms to leave behind the days of stuffing invoices in visors or piling paperwork on a desk. Jim Campbell, Vice President of Construction at AvidXchange commented: “ In the construction industry, whether you’re a general contractor or property management firm, you want to focus on the job, not managing manual, repetitive AP tasks. Jim Campbell, Vice President of Construction at AvidXchange It enables better oversight on payments and therefore cash flow, faster payments to vendors and a higher rebate potential to offset cash flow challenges.
AVIDXCHANGE CASHFLOW MANAGER MANUAL
The combined solution allows users to automate much of the often time consuming manual work that besets the accounts payable teams. The accounts payable function in the construction industry is a task that lends itself to automation.
The combined solution will deliver an end to end invoice-to-pay solution for Sage 300 CRE users. It will see the AvidXchange accounts payable and payments solutions integrate with TimberScan. AvidXchange has announced a partnership with Core Associates.
0 kommentar(er)
