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The AvidXchange Customer Experience: What Makes It Great (AP Automation SolutionMap Analysis)

Accounts payable (AP) automation has taken the procurement world by storm recently. One of the perhaps less obvious reasons why is the ability of AP automation solutions to quickly address supplier information management challenges and facilitate supplier collaboration via supplier networks or portals.

AvidXchange, a new participant in the SolutionMap Fall 2020 AP Automation category, exemplifies just these benefits. Its unique combination of services and technology for invoice and payment management is attractive to many organizations seeking to automate or outsource portions of the AP process. And the vendor does this at scale: AvidXchange serves the largest network of unique suppliers in the mid-market, counting more than 680,000 suppliers in North America.

But where does AvidXchange stand out most and help “set the bar” in AP automation, and why should this matter for procurement and finance organizations? Let’s delve into our SolutionMap benchmark for customer scores to find out what makes AvidXchange great.

“What Makes It Great” is a recurring column for SolutionMap Insider subscribers. The columns share insights from SolutionMap updates, which rank offerings from more than 77 vendors in 13 technology areas of procurement. The updates are released in the spring and fall. Based on SolutionMaps’ rigorous evaluation process by our analysts and customer reference reviews, these columns offer quick facts on the vendor, describe where it excels, provide hard data on where it beats the SolutionMap benchmark and conclude with a checklist for ideal customer scenarios in which procurement, finance and supply chain organizations should consider it.

Fall 2020 Supplier Relationship Management and Risk (SRM): Provider Scoring Summary

Fall 2020 SRM Provider score summary

This SolutionMap scoring summary analyzes a select group of supplier management (SXM) providers. It includes coverage of supplier information management (SIM), supplier master data management (MDM), supplier performance management and broader initiative management (e.g., risk, third-party management) capabilities. It is part of our Fall 2020 SolutionMap report series, also featuring spend analytics, sourcing, contract management, e-procurement and invoice-to-pay providers.

Fall 2020 Sourcing: Provider Scoring Summary

Fall 2020 SolutionMap sourcing provider scoring

This SolutionMap analyzes a select group of sourcing providers. It is part of our Fall 2020 SolutionMap report series, also featuring spend analytics, contract management, supplier relationship management and risk (SRM), e-procurement and invoice-to-pay providers. SolutionMap also features procure-to-pay and strategic procurement technology suites.

Fall 2020 Strategic Procurement Technologies (Sourcing, Analytics, CLM and SRM): Provider Scoring Summary

Fall 2020 solutionmap strategic procurement technologies

This Fall 2020 SolutionMap analyzes a select group of strategic procurement technology suite providers (inclusive of spend analytics, sourcing, supplier management and contract lifecycle management).

Fall 2020 Spend Analytics: Provider Scoring Summary

Spring 2020 Spend Analytics Provider Scoring Summary

This SolutionMap analyzes a select group of spend analytics providers. It includes coverage of spend analytics capabilities that encourages subscribers to “peel the onion” beyond cleansing, classification, enrichment and reporting capabilities alone. It is part of our Fall 2020 SolutionMap report series, also featuring sourcing, supplier management contract management, e-procurement and invoice-to-pay providers.

Fall 2020 Source-to-Pay (S2P): Provider Scoring Summary

fall 2020 SoutionMap S2P Provider Scoring Summary

This SolutionMap analyzes a select group of source-to-pay solution providers. It is part of our Fall 2020 SolutionMap report series, also featuring spend analytics, sourcing, supplier management, contract management, e-procurement and invoice-to-pay providers. Our Q4 release also features SolutionMaps for Strategic Procurement Technology suites.

Fall 2020 Procure-to-Pay (P2P): Provider Scoring Summary

Fall 2020 Solutionmap P2P provider scores

The Spend Matters SolutionMap Procure-to-Pay (P2P): Provider Scoring Summary is only available to SolutionMap Members. This SolutionMap analyzes a select group of procure-to-pay solution providers. It is part of our Spring 2020 SolutionMap report series, also featuring spend analytics, sourcing, supplier management, contract management, e-procurement and invoice-to-pay providers.

Fall 2020 Invoice-to-Pay (I2P): Provider Scoring Summary

Fall 2020 SolutionMap I2P provider scoring summary

This SolutionMap scoring summary analyzes a select group of invoice-to-pay solution providers. It is part of our Fall 2020 SolutionMap report series, also featuring spend analytics, sourcing, supplier management, contract management and e-procurement providers. Our spring release also features a SolutionMap for procure-to-pay and strategic procurement technology suites.

Fall 2020 E-Procurement: Provider Scoring Summary

Spring 2020 E-Procuremen SolutionMap Provider Scoring Summary

This SolutionMap analyzes a select group of E-Procurement solution providers. It is part of our Fall 2020 SolutionMap report series, also featuring Spend Analytics, Sourcing, Supplier Management, Contract Management and Invoice-to-Pay providers. Our spring release also features SolutionMap for Procure-to-Pay and Strategic Procurement Technology suites.

Fall 2020 AP Automation: Provider Scoring Summary

fall 2020 ap autpmation solutionmap

This SolutionMap scoring summary analyzes a select group of AP Automation solution providers. It is part of our Fall 2020 SolutionMap report series, also featuring spend analytics, sourcing, supplier management, contract management and e-procurement providers. Our spring release also features a SolutionMap for invoice-to-pay and strategic procurement technology suites.

Fall 2020 Contract Lifecycle Management (CLM): Provider Scoring Summary

Fall 2020 SolutionMap CLM provider scoring summary

The Spend Matters SolutionMap Contract Lifecycle Management (CLM): Provider Scoring Summary is only available to SolutionMap Members. This SolutionMap analyzes a select group of Contract Lifecycle Management (CLM) providers. It is part of our Fall 2020 SolutionMap report series, also featuring spend analytics, sourcing, supplier management (including supplier information management, performance management and risk management), e-procurement and invoice-to-pay providers.

Release note, SolutionMap Fall 2020: Sourcing, Spend and Procurement Analytics, Supplier Relationship Management & Risk, Contract Lifecycle Management and Strategic Procurement Technology (SPT) Suites

This Spend Matters SolutionMap Insider release note provides insight into the SolutionMap Fall 2020 release for the following five categories: Sourcing, Spend and Procurement Analytics, Supplier Relationship Management & Risk, Contract Lifecycle Management, and Strategic Procurement Technologies Suite. The note reviews the process we follow and highlights what has changed since the last release.

This is the first Fall release since the start of semiannual SolutionMap cycles. Going forward, there will be two releases per year, Spring and Fall.

 What’s new in the Fall 2020 Sourcing, Spend and Procurement Analytics, Supplier Relationship Management & Risk, Contract Lifecycle Management and SPT Suites?

Spend Matters updated the bubble size methodology of the SolutionMap rankings. The bubble size previously represented the number of customers served by a vendor. This method did not adequately convey a vendor's experience and resources to handle complex global deployments. As such, the new bubble size considers:

  • market scale based on the number of customers across the globe
  • number of full-time employees focused on the relevant solution(s)
  • revenue per customer in the relevant solution(s)

These factors were determined by the analyst team, and vendors were given the opportunity to validate the inputs.

For this Fall 2020 release, six vendors are new to a category within the SPT Suites and one existing SolutionMap participant expanded into an additional category.

The following new providers have been added for this release:

  • GraphiteConnect by Graphite Systems is a new participant in the Supplier Relationship Management & Risk SolutionMap category.
  • Ignite Procurement is a new participant in the Spend & Procurement Analytics SolutionMap category.
  • Kodiak Rating is a new participant in the Supplier Relationship Management & Risk SolutionMap category.
  • ProcurePort is a new participant in the Sourcing SolutionMap category.
  • Symfact is a new participant in the Contract Lifecycle Management SolutionMap category.
  • VORTAL is a new participant in the Sourcing, Supplier Relationship Management & Risk, Contract Lifecycle Management SolutionMap categories.

Promena is now participating in the Supplier Relationship Management & Risk SolutionMap category as well as in Sourcing.

Now merged, Wax Digital / Medius is named Medius (Wax Digital) in the Sourcing, Supplier Relationship Management & Risk and Contract Lifecycle Management SolutionMap categories. Rosslyn Analytics is now shown as Rosslyn Data Technologies in the Spend & Procurement Analytics SolutionMap category.

Customer references now have a lifespan of two-and-a-half years. Some 138 new or refreshed customer references (and 60 individual map references) were added in the Strategic Procurement Technology areas.

Get a first look at the Fall 2020 SolutionMap comparative quadrant graphics here.

(SolutionMap Insider members: Access the latest Provider Scoring Summary reports right here.)