AvidXchange, a leading provider of accounts payable (AP) automation software and payment solutions for middle market businesses and their suppliers, has been selected as a member of this year’s Spend Matters 50 to Know list.
Each year, the 50 Providers to Know list recognizes the best-in-class companies in the AP automation/invoice-to-pay, procurement and supply chain markets – and this is its tenth annual release. The firms in this list are the ones industry leaders need to know about; they lead the charge on new technologies and services, such as integrated solutions that support invoices and payments, and set the industry standard. Vendors listed are independently selected by the analyst team over multiple rounds of debate, focusing on factors such as innovation, market presence, tech competency and solution delivery.
“We’re honored to be on the Spend Matters 50 to Know list for the second year in a row and truly feel it validates the growth and innovation we’ve been delivering at AvidXchange,” said Doug Anderson, Chief Product Officer of AvidXchange. “Our success boils down to putting customers first in everything we do, remaining dedicated to transforming the AP process and investing in talent that champions our mission of being customer-obsessed every day.”
“AvidXchange’s main value proposition is a combination of services and technology that automates invoice management and payment processes for North American companies,” said Xavier Olivera, Senior Analyst at Spend Matters. “Its market position is well recognized for its strengths including managed services and systems integration, as well as its B2B Payment Hub.”
“This year’s lists are the first to feature a numerical scoring scale to quantify factors previously considered ‘soft’ as the first step in the analyst selection process,” said Nikhil Gaur, Research Analyst & Project Associate at Spend Matters. “In conjunction with criteria added in previous years such as mindshare in the market and customer reference requirements, the process behind these lists has become more programmatic and objective. The market can be confident that the providers chosen for these lists are truly the most impressive in the industry.”
Spend Matters is the leading solution intelligence source for procurement and supply chain professionals. Combining deep technology analysis and tailored advisory services with daily news coverage and subscription research, Spend Matters is trusted by CPOs, consultants, investors and solution providers alike as their procurement technology intelligence partner.
To learn more, visit: https://spendmatters.com/vendor-directory/50-to-know/2023/
And to learn more about how AvidXchange, and its publicly traded parent AvidXchange Holdings, Inc. (Nasdaq: AVDX), are transforming the way companies pay their bills, visit www.AvidXchange.com.