If you use MRI Software, you may have heard of MRI Vendor Pay. This solution lets you manage and automate vendor payments from within your MRI Software system so you can streamline processes, eliminate paperwork and reduce costs.
Ready to learn more? This FAQ provides everything you need to know about MRI Vendor Pay, what it has to do with AvidXchange and how you can take advantage of the new Waived Transaction Fee MRI Vendor Pay.
What Is MRI Vendor Pay?
MRI Vendor Pay is a software solution within the MRI Financials platform that enables you to pay your suppliers with the click of a button. The software sends payments via paper check, ACH transfer or virtual credit card – whichever your company and suppliers prefer.
What Is AvidXchange’s Relationship with MRI?
AvidXchange is an MRI Platinum Solution Partner. The companies have worked together since 2006 to enable paperless accounts payable (AP) processes in real estate businesses. AvidXchange provides the AP automation software that powers MRI Vendor Pay.
The integration between MRI and AvidXchange syncs critical data between the two systems, including POs, invoices, general ledger codes, budget and job costs. It lets clients that use both systems pay suppliers simply, quickly and securely.
What Are the Benefits of Using MRI Vendor Pay?
MRI Vendor Pay delivers several key features that improve the AP process:
✅ Reduce payment processing costs by up to 80%
✅ Monitor the status of payments within MRI
✅ Pay vendors efficiently with a one-button batch process
✅ Retain control and mirror existing workflows
✅ Automate approval processes
✅ Eliminate printing and mailing paper checks
✅ Reduce fraud risks
✅ Save AP staff time so they can focus on strategic work
These are just a few of the tasks you can do withing the MRI platform.
What Is Waived Transaction Fee MRI Vendor Pay?
Waived Transaction Fee MRI Vendor Pay lets MRI Property Management X clients use the solution without paying per-transaction fees for payments executed through the system.
In a per-transaction fees model, clients may have a difficult time budgeting because transaction volume fluctuates from month to month. Waived Transaction Fee MRI Vendor Pay solves this problem: With no fees, there’s no monthly variable.
How Much Are Transaction Fees Without Waived Transaction Fee MRI Vendor Pay?
MRI Vendor Pay offers several flexible cost models. Fees start at $0.99 per transaction. To find the model that best meets your organization’s needs, contact MRI.
Is Waived Transaction Fee MRI Vendor Pay Really No-Cost?
Yes! MRI Property Management X clients will not pay transaction fees on any supplier payments made through the system.
How Do I Sign Up for Waived Transaction Fee MRI Vendor Pay?
Contact your MRI account manager or request a demo to get started.
Can I Try Out MRI Vendor Pay Before Moving All My Payments to the System?
To take Waived Transaction Fee MRI Vendor Pay for a test drive, contact your MRI representative to schedule a demo and discuss options.
Can I Use Waived Transaction Fee MRI Vendor Pay If I Am Not Currently a Property Management X Client?
This product is only available to clients using Property Management X. If you’re interested in taking advantage of Waived Transaction Fee MRI Vendor Pay, contact your MRI account manager to learn more.
Where Can I Learn More About Waived Transaction Fee MRI Vendor Pay?
Watch our webinar below or contact your MRI representative to learn more.