AvidXchange, a leader in accounts payable automation, has unveiled new AI features within its invoice automation solution. This includes an AI Approval Agent that helps users predict invoice approvals and an AI PO Matching Agent that streamlines the matching of invoices with purchase orders. These enhancements aim to boost efficiency and decision-making for mid-sized businesses. A recent survey showed that 76% of finance leaders see AI as valuable for improving operations. As AvidXchange celebrates 25 years in the industry, the company continues to innovate by offering these advanced tools, enabling finance teams to enhance accuracy and reduce manual tasks in their operations. For more information, visit their website.
AvidXchange Launches New AI Tools to Enhance Invoice Automation
AvidXchange, a top player in accounts payable automation, has unveiled exciting new AI features designed to streamline invoice processing for mid-Market businesses. The company, based in Charlotte, North Carolina, is celebrating 25 years of innovation in the field, continuously striving to enhance efficiency and control for finance professionals.
In a recent announcement, AvidXchange presented several AI agents that will significantly improve the company’s invoice automation solution. These upgrades come after a survey in their 2025 trends report found that 76% of mid-Market finance leaders recognize the advantages of integrating AI into their operations for better decision-making.
Emily Dalton, the Vice President of Product at AvidXchange, stated, "As we celebrate 25 years of innovation in AP automation, we remain committed to pushing the boundaries of technology to help businesses enhance operational efficiency." AvidXchange is focused on leveraging AI to provide substantial benefits across various financial processes, particularly in invoice approvals.
Key AI Features Include:
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AI Approval Agent: This tool evaluates how likely an invoice is to be approved based on patterns from previous decisions. It gives insights to finance teams without taking away their control over final approvals.
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AI PO Matching Agent: This feature automates the tedious task of aligning invoice details with purchase orders, ensuring accuracy and speeding up the approval process.
- Enhanced Invoice Capture: This upgraded feature utilizes AI to learn from incoming invoices, thus minimizing the need for manual checks and making the approval process more efficient over time.
Feedback from existing customers has been exceptionally positive. Paul Kramlick, Vice President of Transactional Services at FirstService Residential, shared, "The AI-Enhanced Invoice Capture is allowing our teams to enhance service to our clients. We’ve reduced our invoice discrepancy queue by 20% and significantly increased accuracy."
For businesses looking to modernize their financial operations with advanced technology, AvidXchange’s new AI capabilities promise to be a game-changer. To find out more about AvidXchange’s invoice automation software, you can visit their website at AvidXchange.
About AvidXchange: With 25 years of experience, AvidXchange specializes in intelligent AP software that suits mid-Market businesses and their suppliers. They empower over 8,500 companies to manage their finances efficiently by providing innovative solutions and expert support.
Media Contact:
Kevin Logan
Manager of Corporate Communications
AvidXchange
pr@avidxchange.com
What are AvidXchange’s new AI agents?
AvidXchange’s new AI agents are smart tools designed to help with the accounts payable process. They automate tasks like invoice processing and payment approvals, making things faster and easier for businesses.
How do these AI agents help businesses?
These AI agents save time and reduce errors. They can quickly analyze invoices, match them with purchase orders, and provide approval workflows, allowing employees to focus on more important tasks.
Are these AI agents easy to use?
Yes, AvidXchange’s AI agents are user-friendly. They integrate smoothly into current systems, so businesses can start using them without a lot of extra training.
Will using AI agents reduce costs?
Absolutely! By automating routine tasks, businesses can cut down on errors and processing time, which can lead to reduced operational costs and improved efficiency.
How safe is the data with these AI agents?
AvidXchange takes data security very seriously. They use advanced security measures to protect sensitive financial information, ensuring that businesses can use these AI agents confidently.