AvidXchange, a leader in accounts payable automation, has introduced new AI features to enhance its invoice automation software. These updates aim to improve efficiency and decision-making for mid-Market businesses. Among the innovations is the AI Approval Agent, which analyzes past invoices to predict approval chances, and the AI PO Matching Agent, which streamlines the matching of invoices to purchase orders. Additionally, enhancements to the Invoice Capture feature enable better processing of invoices by learning data patterns over time. AvidXchange’s commitment to leveraging AI in finance is evident as 76% of surveyed finance leaders recognize its benefits. With 25 years of industry experience, AvidXchange continues to empower organizations in managing their payments more effectively.
AvidXchange Unveils New AI Enhancements to Boost Invoice Automation Efficiency
CHARLOTTE, N.C. – On April 2, 2025, AvidXchange Inc. (Nasdaq: AVDX) announced exciting new features for its invoice automation solution, designed to elevate the accounts payable (AP) process for mid-Market businesses. With the introduction of advanced AI agents, AvidXchange continues its commitment to improving financial operations, emphasizing efficiency, visibility, and control for finance professionals.
According to a recent survey from AvidXchange, which included responses from 500 finance leaders, a significant 76% of finance departments acknowledge the transformative potential of AI in enhancing efficiency and decision-making. Emily Dalton, Vice President of Product, stated, “As we celebrate 25 years of innovation in AP automation, we are dedicated to providing solutions that offer substantial benefits to our customers.”
Key Enhancements with AI Agents:
1. AI Approval Agent: This feature helps companies quickly assess the likelihood of invoice approval by analyzing historical data. It provides insights into past decisions while allowing managers to maintain final approval authority, thus combining AI intelligence with human oversight.
2. AI PO Matching Agent: AvidXchange’s new agent automates the matching of invoices with purchase orders. This streamlines the approval process, enhances accuracy, and allows users to make well-informed decisions effortlessly.
3. Enhanced Invoice Capture: These improvements to Invoice Capture make it easier for teams to move invoices through the approval process efficiently. The AI continuously learns from invoice data patterns, reducing the need for manual intervention and increasing operational efficiency.
Customer Testimonials
Paul Kramlick, Vice President of Transactional Services at FirstService Residential, shared his satisfaction with the enhancements, noting a 20% reduction in invoice discrepancies. This improvement enables his team to focus more on strategic priorities and innovation.
For more details on AvidXchange and its advanced invoice automation tools, visit AvidXchange’s website.
About AvidXchange
AvidXchange is a recognized leader in accounts payable automation, offering intelligent software solutions tailored for mid-Market companies. With over 25 years in the industry, AvidXchange empowers thousands of businesses to manage their expenses effectively while ensuring a secure payment process for suppliers.
To learn more about their services, follow their company updates and insights.
Media Contact:
Kevin Logan
Manager of Corporate Communications
AvidXchange
Email: pr@avidxchange.com
Tags: AvidXchange, Invoice Automation, Accounts Payable, AI Innovation, Mid-Market Business Solutions
Frequently Asked Questions about AvidXchange’s New AI Agents
What are AvidXchange’s new AI agents?
AvidXchange’s new AI agents are advanced tools designed to help businesses manage accounts payable more efficiently. They use artificial intelligence to automate tasks, reduce errors, and speed up processes.
How do these AI agents improve accounts payable?
The AI agents improve accounts payable by automating routine tasks like invoice processing and payment approvals. This leads to faster transactions and allows finance teams to focus on more strategic work.
Do I need special training to use these AI agents?
No special training is needed. AvidXchange’s AI agents are user-friendly and designed to integrate seamlessly into existing systems. Most users can navigate them easily without extensive knowledge of AI.
Will using AI agents save my company money?
Yes, using AI agents can save money. By increasing efficiency and reducing payment errors, businesses can lower operational costs and improve cash flow.
Can these AI agents work with my current accounting software?
Absolutely! AvidXchange’s AI agents are designed to work well with various accounting systems. They aim to enhance existing software rather than replace it, making integration simple and effective.