TechValidate Research on AvidXchange

Introduction

This case study of Arcis Investments is based on a June 2016 survey of AvidXchange customers by TechValidate, a 3rd-party research service.

Challenges

The business challenges that led the profiled company to evaluate and ultimately select AvidXchange:

• Trying to automate the following manual tasks in order to operate more efficiently:
  • Data entry
  • Mailing invoices for approval
  • Printing checks
  • Stuffing envelopes and mailing checks
• Automation has improved processes in the following ways:
  • Reduced data errors associated with manual data entry
  • Eliminated missing invoices due to people misplacing them or getting lost in the mail
  • Reduced late fees because invoices are getting paid on time because of improved approval processes and audit trails

Use Case

The key features and functionalities of AvidXchange that the surveyed company uses:

• Has been an AvidXchange customer for more than 5 years.
• Rates the following AvidXchange service teams and the level of service received from them as very positive:
  • Sales & Marketing
  • Account Management
  • Support
  • Implementation
  • Payment Services

Results

The surveyed company achieved the following results with AvidXchange:

• The AvidXchange payment services team has helped the organization in the following way:
  • Ensured security and accuracy of vendor / supplier payment data
• How AvidXchange impacts employee roles:
  • Employees have a lot more time to do more meaningful tasks now that manual tasks have been greatly reduced.

Introduction

This case study of Dorvidor Management Company is based on a February 2016 survey of AvidXchange customers by TechValidate, a 3rd-party research service.

Challenges

• Biggest motivation for purchasing an AvidXchange Solution:
  • Improve visibility

Use Case

• Has been an AvidXchange client for 3 – 5 years.
• Utilizes the following AvidXchange solutions:
  • AvidInvoice
  • AvidPay

Results

• AvidXchange has impacted the business in the following ways:
  • Reduced processing costs
  • Scaled for growth
  • Saved time
  • Improved controls
  • Improved visibility into spend
• Reduced their invoice and payment processing costs by 50 – 60% with AvidXchange.