Pinnacle Financial Partners and AvidXchange have signed a new partnership giving more community association management customers access to a streamlined invoice-to-pay accounts payable (AP) process. Tyler Gill, Vice President of Sales for HOA at AvidXchange, and Howard Henry, Community Association Program Manager at Pinnacle, share their perspectives on partnership, fintech and the HOA industry.
You hear the word fintech thrown around a lot today. Why is it important for Pinnacle to enter into partnerships with technology/service partners like AvidXchange?
Howard: Pinnacle’s value to business clients is our capacity to advise them on banking solutions that will help them reach their goals as a company. When they succeed and grow, we’ve done our job. The property management industry – like so many sectors – has become driven by the need to create efficiencies within their daily operations. Technology is a great way to achieve that. With fintech platforms like AvidXchange Strongroom, property management staff are freed up to deliver the kind of service homeowners expect, and it’s also a driver for profitability. The technology that’s available today not only transforms our clients’ existing business, but it allows them to take on more.
What is the most unique aspect of Pinnacle’s approach to client relationships?
Howard: It really starts with our culture. Pinnacle set out to be the best place to work so we could attract the best and most experienced bankers in every market. This approach requires a culture that offers people the autonomy to “do the right thing” for clients. When talented people love their jobs, it translates directly to a great client experience. Our clients consistently report that the service they receive is noticeably different than what they’ve experienced at other banks.
How is Pinnacle helping property management clients better prepare for the uncertainty in today’s business environment?
Howard: Pinnacle has banked property managers for over 20 years, so we have a solid understanding of the industry. As we have developed partnerships with software providers and other related technologies that would measurably improve their business, we dedicated a team to form the Community Association Program to specialize in solutions for our clients in property management. These strategic partnerships help property management companies by freeing up their staff to deliver the kind of hands-on service and sales that will sustain and grow their business.
What attracted AvidXchange to the idea of partnering with a firm such as Pinnacle?
Tyler: Like AvidXchange, Pinnacle has seen rapid growth in its relatively short 20-year history. Both firms take a consultative approach to solving business problems for clients. If you take a look at the competitive landscapes within banking and Software-as-a-Service (SaaS), you’ll find lots of companies that hope to sell their product but give little thought to the responsibility of ensuring a satisfying experience for the customer. Both of our organizations accomplish this through excellent product support and continued innovation. These strategies are focal points for both Pinnacle and AvidXchange, which we see as integral to staying relevant within our respective marketplaces.
How does AvidXchange Strongroom’s ability to integrate with a multitude of accounting systems translate into added value for your clients?
Tyler: The value that we offer through our partner ecosystem comes not only from our great bank partners, such as Pinnacle, but also through our integrations with the accounting systems that are considered best-in-class for the community association industry. Having over a dozen API integrations allows AvidXchange Strongroom to provide accounts payable automation to over 70,000 HOA’s across the country. Those connections facilitate a seamless flow of information between platforms, which in turn provides a more unified experience for all users. We are continuously working to add new accounting system integrations to our portfolio.
How is AvidXchange helping businesses in the HOA industry continue to operate seamlessly in a remote work environment?
Tyler: Now more than ever, AP automation should be considered a standard for any forward-thinking property manager. The pandemic has fast tracked the concept of remote working for many businesses this year. Therefore, the ability to securely review and approve invoices on any mobile device from the convenience of your home or office makes AvidXchange Strongroom a valuable tool that every AP manager should be leveraging. Robust reporting and audit trails allow you to maintain control, while simultaneously providing visibility for your employees and board members into your company’s AP process.
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About Tyler Gill
As a Vice President for AvidXchange, Tyler Gill specializes in helping Home Owner Association (HOA) management companies streamline accounts payable (AP) operations and create efficiencies through software automation and best practices. AvidXchange, with 600+ HOA management companies as clients, is the market leader in providing AP solutions to the HOA-industry – an industry that covers 100 million American homeowners across all 50 States.
Tyler comes to AvidXchange from Strongroom Solutions, where he served as President & CEO and was responsible for the overall performance of the business. Strongroom, headquartered in Houston, TX, was acquired by AvidXchange in June 2015. Prior to Strongroom, Tyler spent a decade in senior leadership positions for both financial software and financial services companies located in Houston and Silicon Valley.
About Howard Henry
Howard Henry is an experienced advisor with Pinnacle Financial Partners. His 20+ years in financial services include work as a commercial lender and relationship manager for Branch Banking and Trust Company BB&T (now Truist). Howard joined Pinnacle in 2019 and he is the architect and leader of specialty services for property management companies and their community associations.
Howard earned a bachelor’s degree from Wofford College in Spartanburg and a master’s degree in business administration from the Darla Moore School of Business in Columbia, SC. In his spare time he enjoys coaching his son’s multiple sports teams.