AvidXchange Unveils New AI Agents to Elevate Accounts Payable Processes
CHARLOTTE, N.C., April 02, 2025 (GLOBE NEWSWIRE) -- AvidXchange Inc. (NASDAQ:AVDX), a leading provider in accounts payable (AP) automation, offering intelligent AP software and payment solutions specifically designed for mid-market businesses and their suppliers, today announced the launch of several new AI agents and enhancements within its invoice automation solution. These advancements reinforce AvidXchange's ongoing commitment to delivering solutions that improve efficiency, visibility, and control for finance professionals.
As part of AvidXchange's 2025 trends report, which surveyed 500 mid-market finance leaders, it was reported that 76% of finance departments recognize the value of using AI within their finance department to improve efficiency and decision-making.
"As we celebrate 25 years of innovation in AP automation, we remain committed to pushing the boundaries of technology to help businesses improve operational efficiency and make more informed decisions," said Emily Dalton, VP of Product at AvidXchange. "These AI-driven features reflect our dedication to providing solutions across the purchase-to-pay experience that drive tangible impact for our customers."
- AI Approval Agent: The new AI Approval Agent helps customers quickly assess how likely an invoice is to be approved by analyzing patterns from past decisions. Using historical data, such as invoice amounts and supplier details, the AI agent provides real-time insights to approvers throughout the AP workflow. While the AI agent delivers intelligent suggestions and transparency into how each recommendation was made, customers remain in full control of final approval decisions—ensuring human oversight remains part of the process.
- AI PO Matching Agent: AvidXchange's AI PO Matching Agent automates one of the most time-consuming steps in the AP process: matching line-item details from invoices to purchase orders. It accelerates approvals by automatically matching line-item details between the PO and invoice while also improving accuracy. Visual indicators provide insight into where the AI agent is assisting which supports confident decision making while keeping customers in control.
- Invoice Capture Enhancements: AvidXchange has expanded the AI capabilities within its Invoice Capture feature which makes it even easier for teams to move invoices through the approval process. These additional AI capabilities continuously learn the unique patterns of the data across invoices, delivering approval-ready invoices that reduce the need for manual touchpoints. As the feature learns, it will apply those insights to future invoices, helping teams work more efficiently with every transaction.
"The AI-Enhanced Invoice Capture from AvidXchange is allowing our teams to enhance service to our clients," said Paul Kramlick, Vice President, Transactional Services, FirstService Residential, a long-time AvidXchange customer. "We've reduced our invoice discrepancy queue by 20% and significantly increased accuracy across our AP operations. That allows our team to redirect time and resources to strategic priorities, driving innovation to benefit the communities we serve."
To learn more about AvidXchange's invoice automation software and new AI capabilities, please visit here: https://www.avidxchange.com/solutions/invoice-automation-software/.
About AvidXchange®
AvidXchange (NASDAQ:AVDX) is a leading provider in accounts payable (AP) automation, offering intelligent AP software and payment solutions specifically designed for mid-market businesses and their suppliers. With 25 years of industry experience, AvidXchange modernizes the way businesses manage their expenses and payments by offering AI-enhanced software coupled with support from experts. Empowering over 8,500 growth-driven businesses, AvidXchange increases efficiency, control, and visibility in financial operations and has securely processed payments to more than 1.3 million suppliers through its proprietary payment network over the past five years. For more information, visit avidxchange.com.
Media Contact:
Kevin Logan
Manager of Corporate Communications
AvidXchange
[email protected]
