CHARLOTTE, NC, Nov. 29, 2022 (GLOBE NEWSWIRE) — AvidXchange (Nasdaq: AVDX), a leading provider of accounts payable (AP) automation software and payment solutions for middle market businesses and their suppliers, today announced Announcing the launch of Cross. – Border Payments (CBP). The embedded payment experience will be available first to Oracle NetSuite customers, and within NetSuite’s SuiteCloud platform he will be available with AvidXchange’s newly launched SuiteApp.
The AvidXchange SuiteApp allows US customers to pay both domestic and international suppliers without leaving NetSuite. Payments can be made from US dollar bank accounts and the currencies offered include AUD, CAD, EUR, GBP, INR, and MXN. Once a cross-border vendor is established, customers can choose to automate exchange rate estimating and processing payments for international invoices.
Built on NetSuite’s robust solutions for financial services, CBP’s fully automated accounting process gives customers greater visibility into their costs and cash flows as they gain greater insight into foreign exchange fees, gains and losses. You can manage. With AvidXchange, customers can streamline their resources and reduce the amount of manual work required to print paper checks and track high international transfer fees. A centralized system for handling accounting tasks also makes the payment process for international suppliers more secure.
“In today’s market, organizations want a direct payment process. AvidXchange’s domestic and international payment modules are both built into NetSuite, so our customers never have to leave the system to make a payment.” said Michael Praeger, co-founder and CEO of AvidXchange. “AvidXchange strives to provide a true end-to-end solution that saves our customers time without adding extra steps.”
Tyler Gill, Vice President of AvidXchange and Business Line Executive of Strategic Partnerships and Alliances, said: “AvidXchange has partnered with his NetSuite for nearly 15 years, and this integration is a great way to thank our mutual customers.”
This built-in payment experience is made possible through arrangements with third-party leaders in international payments. AvidXchange is a licensed remittance provider for his B2B payments in the US, licensed as a remittance provider by the New York State Department of Financial Services.
For more information, visit www.avidxchange.com/solutions/avidsuite-for-netsuite/.
AvidXchange is a leading provider of accounts payable (“AP”) automation software and payment solutions for mid-market companies and their suppliers. AvidXchange’s SaaS-based, end-to-end software and payments platform has digitized and automated AP workflows for over 8,000 companies, paying buyer’s over 825,000 supplier customers over the past five years. .
To learn more about how AvidXchange and its publicly traded parent company AvidXchange Holdings, Inc. (Nasdaq: AVDX) are transforming how businesses pay, visit www.AvidXchange.com.