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AvidXchange

Automates accounts payable and payment processing

Overview

AvidXchange provides a cloud-based SaaS platform that automates accounts payable and vendor payments, including invoice management, bill payment, purchase orders, and check printing. Clients subscribe to the platform and, using the software, invoices are digitized and routed for approval, payments are issued electronically (with optional check printing), and the process speeds up from days to hours. It differentiates itself by offering a wide, integrated AP and payments solution in one system, with a focus on speed, security, and support for many industries. Its goal is to simplify and accelerate financial operations, reduce manual tasks, and lower processing costs for organizations.

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About AvidXchange

Simplify's Rating
Why AvidXchange is rated
B-
Rated B on Competitive Edge
Rated B on Growth Potential
Rated C on Differentiation

Industries

Enterprise SoftwareFintechFinancial Services

Company Size

1,001-5,000

Company Stage

IPO

Headquarters

Charlotte, NC

Founded

2000

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What believers are saying

  • June 2026 Workday integration gives customers in-ERP payment automation and status tracking.
  • October 28, 2026 FRONTSTEPS partnership expands AvidXchange deeper into community association software.
  • Wade Fairey joined as COO on June 4, 2026, strengthening execution discipline.

What critics are saying

  • Corpay's 2028 call right limits AvidXchange independence and strategic optionality.
  • Payment automation is becoming a feature inside ERP platforms, squeezing standalone AP vendors.
  • If embedded partners like Workday or FRONTSTEPS switch providers, distribution collapses quickly.

What makes AvidXchange unique

  • TPG and Corpay completed AvidXchange's take-private on October 15, 2025.
  • Its proprietary AvidPay Network has processed payments to 1.5 million suppliers.
  • Embedded AP integrations inside Workday, AppFolio, ParishSOFT, and FRONTSTEPS deepen workflow lock-in.

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Funding

Total Funding

$1.7B

Above

Industry Average

Funded Over

17 Rounds

Notable Investors:
Buyout funding comparison data is currently unavailable. We're working to provide this information soon!
Buyout Funding Comparison Coming Soon

Benefits

  • Health Insurance
  • Dental Insurance
  • Life Insurance
  • Disability Insurance
  • 401(k) Company Match
  • Parental Leave
  • Unlimited Paid Time Off
  • Paid Vacation
  • Hybrid Work Options
  • Wellness Program
  • Tuition Reimbursement

Stock Price

Growth & Insights and Company News

6 month growth

0%

1 year growth

0%

2 year growth

0%
Associated Press
Oct 28th, 2026
FRONTSTEPS picks AvidXchange as exclusive AI accounts payable partner for Manager platform

FRONTSTEPS has named AvidXchange its exclusive accounts payable (AP) partner for FRONTSTEPS Manager, its community management platform for homeowner and condo associations. The partnership was announced in Denver on October 28, 2026. AvidXchange's invoice automation is now embedded in Manager, with no separate system, login, or support team. AI captures and pre-fills invoices, matches them to general ledger codes and purchase orders, and routes them for approval. Payment automation and the full AP workflow will follow. The AI ingestion feature will be broadly available November 1, 2026. "Every hour a manager spends re-keying an invoice is an hour they're not walking the property or sitting with the board," said FRONTSTEPS chief executive officer Matt DeWolf.

24/7 Business Reporter
Oct 28th, 2026
FRONTSTEPS and AvidXchange announce exclusive embedded partnership to simplify Accounts Payable in FRONTSTEPS Manager.

FRONTSTEPS and AvidXchange announce exclusive embedded partnership to simplify Accounts Payable in FRONTSTEPS Manager. Together, the software leaders are launching a simpler bill-paying experience for community associations and the vendors who serve them. Our customers have told us that paying vendors should be easy. We agree, it's all about empowering the human behind the keyboard." - Matt DeWolf DENVER, CO, UNITED STATES, October 28, 2026 / EINPresswire.com / - FRONTSTEPS is excited to announce AvidXchange, a leader in AI-powered accounts payable (AP) and payments solutions for midmarket businesses, as its exclusive AP partner for FRONTSTEPS Manager. Together, the software leaders are launching a simpler bill-paying experience for community associations and the vendors who serve them. The partnership connects FRONTSTEPS' purpose-built community management platform with AvidXchange's AP automation and payment technology. AvidXchange's invoice automation software is now fully embedded into FRONTSTEPS Manager powered by AvidXchange's Accounts Payable as a Service solution, with no separate system, login, or support team. Invoices are captured and pre-filled with AI, matched to GL codes and purchase orders, and routed for approval, all without leaving FRONTSTEPS Manager. The invoice automation solution is fully embedded now with plans for the full AP workflow, including payment automation, to follow. "Our customers have told us that paying vendors should be easy. We agree," said FRONTSTEPS CEO Matt DeWolf. "It's all about empowering the human behind the keyboard. Every hour a manager spends re-keying an invoice is an hour they're not walking the property or sitting with the board. AP inside Manager gives that time back." "Expanding our longtime partnership with FRONTSTEPS with our first Accounts Payable as a Service embedded invoice offering felt like a natural fit," said Michael Praeger, CEO and co-founder of AvidXchange. "At AvidXchange, we're changing the way finance operations work within businesses, including how invoices are captured, approved, and paid. This partnership is not only an opportunity for AvidXchange to deepen its presence in the real estate and community association management industry, but also to work alongside FRONTSTEPS to develop what a best-in-class, embedded, intuitive experience for customers and vendors can truly look like." FRONTSTEPS and AvidXchange are working together to make AP easier for everyone involved, from finance and accounting teams and managers to the vendors supporting their communities. Both companies are investing in AI-FRONTSTEPS through ALLi, and AvidXchange through AI-powered invoice capture and automation-to reduce manual work, improve workflows, and enhance fraud prevention and protection. To beta test the new AI ingestion feature, FRONTSTEPS Manager users can contact Rob Weinrich at [email protected]. The feature will be broadly available November 1, 2026. About FRONTSTEPS FRONTSTEPS is the leading community management platform built for homeowner associations, condo associations, and community management companies. The company provides a comprehensive SaaS platform that powers accounting, payments, homeowner engagement, communications, and community operations such as architectural reviews, violations management, and more. FRONTSTEPS is transforming the industry through AI-powered automation and agentic workflows that simplify operations, improve transparency, and create exceptional homeowner experiences for communities across the United States. FRONTSTEPS Media Contact | Deborah Rae Koch | [email protected] About AvidXchange AvidXchange is the AI-powered accounts payable and payments solution built for midmarket businesses. We combine AI that eliminates manual work with over 25 years of experience and data intelligence to get it right, so finance teams can move faster, pay smarter, and operate with complete confidence. Over 8,000 growth-driven businesses rely on AvidXchange to deliver greater efficiency, tighter control, and real-time visibility into their AP process and to execute millions of payments with accuracy and enhanced security through our proprietary payment network. Additionally, AvidXchange is a licensed money transmitter for B2B payments in the United States, 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. For more information, visit avidxchange.com. AvidXchange Media Contact | AvidXchange Public Relations | [email protected] Deborah Rae Koch FRONTSTEPS [email protected] Legal Disclaimer: EIN Presswire provides this news content "as is" without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the author above.

FRONTSTEPS
Oct 21st, 2026
Introducing AI-Powered AP in FRONTSTEPS Manager with AvidXchange.

Introducing AI-Powered AP in FRONTSTEPS Manager with AvidXchange. October 21, 2026 A landscaping invoice shouldn't be a time-consuming IT project. But you know how it goes: open the attachment, copy the details into another system, track down an approval, then log in somewhere else to pay it. Meanwhile, there's a board meeting to prepare for and a homeowner waiting for a call back. Multiply that routine by every vendor across your communities, and the paperwork takes over. With FRONTSTEPS AP, Frontsteps is building on its partnership with AvidXchange to bring accounts payable into FRONTSTEPS Manager, starting with AI-powered invoice capture from ALLi. Frontsteps is designing the full workflow, so your team can handle a bill from upload to reconciliation without leaving the platform. Frontsteps is rolling out invoice capture through an early access program, so participating teams can start using it in Manager before General Availability in November. Let ALLi take on the data entry. Upload up to 20 invoices, and ALLi pre-fills the readable fields, bringing the information into Manager without asking your team to type it all out again. When you have a stack of vendor bills to process, batch uploads let you enter them all at once. That leaves your team with less repetitive entry and more time to check what's being charged. Because this capability lives inside Manager, you can use the screens, login, and FRONTSTEPS support team you already know rather than learn another application. One workflow from capture to reconciliation. Beyond invoice capture, Frontsteps is building toward a full AP workflow that keeps the invoice in Manager through each of these steps: * Capture. Upload one invoice or a batch, with ALLi pre-filling the readable invoice data. * Code and match. Each invoice is matched to the correct general ledger (GL) code and purchase order within Manager. * Approve. The invoice routes to the right approver, with the full invoice image available on the same screen. * Pay. AvidXchange executes the payment without requiring your team to open a separate portal. * Reconcile. The payment closes out automatically, without re-keying its details or cross-checking a second system. Faster data entry only gets you so far if you're still moving the invoice elsewhere for approval or payment. The full workflow is designed to remove those handoffs and keep the bill and its supporting information in one place. Your team still makes the call. Say the landscaper bills for work that wasn't finished. ALLi can help read the invoice, but someone still needs to know what happened on the property and question the charge. Getting the number into the system correctly isn't the same as deciding it should be paid. Your team still reviews invoices and makes approval decisions. Less manual entry and an invoice image right there during approval can help staff spot an overcharge or a duplicate bill before it's paid. The time you get back can go toward walking the property, returning a homeowner's call, or heading into a board meeting with the answers ready. Those are the interactions that help your communities feel well looked after. See what's next on November 10. Want a closer look? Join FRONTSTEPS and AvidXchange on November 10, 2026, for its webinar on AI-powered invoice ingestion and what's next for AP in Manager. Register for the webinar to learn more. The early access program is for community management companies already using Manager, whether you handle a few dozen invoices a month or thousands across a portfolio. You'll get hands-on onboarding from its team and a chance to help shape what comes next. Contact your FRONTSTEPS account manager for a short walkthrough and to join the early access list. How can Frontsteps optimize your business? Talk to sales and learn how Frontsteps can support your needs.

AvidXchange
Sep 18th, 2026
TPG & Corpay Complete Acquisition of AvidXchange

TPG and Corpay complete their acquisition of AvidXchange, positioning the company for long-term growth as a private AP automation provider.

Metric Media LLC
Jun 9th, 2026
AvidXchange launches integrated payment automation solution for Workday users.

AvidXchange launches integrated payment automation solution for Workday users. Jun 9, 2026 AvidXchange Inc. announced on June 9 that its Payment Automation for Workday has launched on the Workday Marketplace through Invisors, a Workday partner. The integration connects Workday Financial Management with AvidXchange, providing customers access to a supplier payment solution within the Workday ecosystem and enabling payment automation inside the platform. Workday Financial Management offers organizations unified core financial capabilities designed to provide real-time insight and efficiency. With this new integration, finance professionals can initiate, approve, and track payments directly within their existing Workday enterprise resource planning system. This minimizes the need to switch between systems and is intended to improve workflow efficiency. Dan Drees, president of AvidXchange, said, "We are driven by a commitment to continually evolve and meet the shifting needs of our customers by providing them solutions that fit into their existing workflows. By connecting Workday users to AvidXchange's supplier network of over 1.5 million suppliers, we are providing a level of visibility and control that was previously unavailable in a single-interface experience." Key benefits highlighted include enhanced efficiency and control for organizations seeking to modernize accounts payable processes; direct ecosystem integration allowing users to complete payment tasks without toggling between software platforms; immediate access to the AvidPay Network; comprehensive visibility into payment activities from submission through final proof of payment; and expert collaboration with Invisors supporting user experience. Nelson Egurrola, innovation leader at Invisors, said, "We are focused on delivering high-impact solutions that augment native Workday capabilities and drive real business value. Partnering with AvidXchange on this integrated payment solution allows us to help customers streamline supplier payments within Workday, helping to improve efficiency while fostering a strong, intuitive user experience." Customers such as Providence Group have already adopted AvidXchange for Workday in efforts aimed at modernizing manual payment processes and enabling faster supplier payments. While more information is available on the Workday Marketplace regarding this integration by Invisors, it is noted that AvidXchange is not an official Workday Partner.

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