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AvidXchange: Vendor Analysis (Part 3) — In-Depth Solution Overview

In this third and final part of our Spend Matters PRO Vendor Analysis of AvidXchange, we provide a detailed solution overview of each main module of the AvidXchange solution.

Part 1 of the series focused on solution strengths and weaknesses, and Part 2 focused on AvidXchange competitors and the technology market that they are in.

In this final section of our coverage, we will look at AvidXchange solutions, which has three main components in one SaaS platform: AP automation, payment services and invoice acceleration — backed by a supplier network of 680,000+ mid-market suppliers across the U.S.

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

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.

AvidXchange: Vendor Analysis (Part 1) — Overview and Solution Strengths/Weaknesses 

In this Spend Matters PRO Vendor Analysis, we will examine AvidXchange’s strengths and weaknesses. The privately held software company automates the accounts payable and payment process. Its market focus targets North America within the middle market businesses in sectors like real estate, homeowners associations, construction, financial services and healthcare.

This series is set up in three parts to help readers doing tech selection or trying to understand competitors in the procurement technology market.

Part 1 will give company details, a brief solution overview, and AvidXchange’s strengths and weaknesses. In Part 2, we will provide a SWOT assessment and an overview of AvidXchange’s competitors and the market landscape. In the final installment, we will provide a more in-depth overview of AvidXchange’s platform capabilities.

Let’s take a look at AvidXchange.