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AvidXchange: Vendor Analysis (Part 2) — SWOT, Competitors & Market Overview, Tech Selection Tips [PRO]

Competitors

In Part 2 of Spend Matter’s look at AvidXchange, we’ll provide a company SWOT assessment and an overview of the AP automation market and AvidXchange’s competitors.

The vendors with AP automation create a varied market. We find specialized AP automation solutions that focus on the SME market as well as invoice-to-pay solutions and supplier networks with AP automation capabilities — like e-invoicing, payment processing and even financing. And the procure-to-pay suite vendors can unify the entire payment process with the purchase.

In the case of AvidXchange, it has a very particular focus on the U.S.-based SME market, which makes it compete in a more direct way with AP specialists with a SME focus. However, we do not leave out the possibility that AvidXchange’s competitors come from I2P vendors, supplier networks and P2P providers because some of these are entering the medium-high market of companies with AP automation capabilities.

In Part 1 of this PRO Vendor Analysis, we focused on AvidXchange’s company details, a brief solution overview, and its solution’s strengths and weaknesses. In our third and final installment, we will provide a more in-depth overview of AvidXchange’s platform capabilities.

Let’s look at its opportunities and threats, as well as AvidXchange’s competitors.

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