In a press release Thursday (July 18), SAP Concur and AvidXchange announced their collaboration, which will allow Concur Invoice users to process electronic payments via the AvidPay Network, supporting a seamless invoice processing-to-payment journey. Businesses using Concur Invoice as part of their accounts payable processes will be able to leverage the AvidPay Network of suppliers to provide their vendors with a choice of how they get paid, including virtual card, AvidXchange’s ACH solution AvidPay Direct, and other tools.
This integration is available through the SAP Concur App Center, the firms noted.
In addition, the integration will connect Concur Invoice users to AvidXchange’s Supplier Services offering, which helps businesses migrate their vendors toward ePayments acceptance.
“Over the past 20 years, we’ve built the strongest supplier network for the mid-market, supported by an industry-leading payment services team,” said AvidXchange CEO and Co-founder Michael Praeger in the release. “We’re excited to bring the AvidPay Network to Concur Invoice customers across the United States to help them streamline and optimize how they pay their vendors.”
“SAP Concur is committed to enabling customers to have choices that enable strategic financial management with industry-leading applications via partners,” said SAP Concur Senior Vice President and General Manager of Global SMB Ben Brewer in the release. “The AvidXchange integration allows customers to manage the full invoice and payments process. By building this relationship with AvidXchange, we’re allowing businesses who already trust our technology to tap into the AvidPay Network, creating additional value from their existing SAP Concur solutions.”
The companies noted that invoice processing automation and electronic payments enable accounts payable professionals to focus on more strategic initiatives.
Selected by Fintech Tube