AvidXchange Partners with MDT, Expands Invoice-to-Pay Solution to More Credit Unions

CHARLOTTE, N.C., July 19, 2022 (GLOBE NEWSWIRE) — AvidXchange Holdings, Inc. (Nasdaq: AVDX), a number one supplier of accounts payable (AP) automation software program and cost options for center market companies and their suppliers, at present introduced a referral partnership with Member Driven Technologies (MDT), a credit score union service group. MDT hosts the Episys^® core platform from Symitar^® to present a non-public cloud different for core processing and IT wants.

This partnership will assist promote AvidAscend, a best-in-class invoice-to-pay software program answer, to MDT’s 100+ credit score union shoppers. AvidAscend seamlessly integrates with the Symitar Episys^® platform hosted by MDT, permitting customers to save time and prices by transitioning from antiquated paper-based programs to streamlining the AP course of by way of one automated, cloud-based answer. Furthermore, automating these processes offers a extra organized strategy to AP duties by permitting the platform to deal with a number of the typical duties of the division, in addition to extra visibility and management over excellent invoices, offering back-office professionals extra time to give attention to bringing strategic worth to the group.

“During the pandemic, our AP division confronted challenges in transitioning to distant work due to guide processes, so we appeared to implement a contemporary, extra automated accounts payable system that workers may function from anyplace,” mentioned Tammy Bengel, Chief Financial Officer of Portland Federal Credit Union. “By leveraging AvidAscend by way of our partnership with MDT, we’re ready to preserve an in depth pulse on the standing of invoices and enhance accountability by way of frequent automated reminders and higher transparency of our accounts. The ease of use of the know-how has improved each our workers’ expertise and offered a extra streamlined, environment friendly vendor expertise as properly.”

“In the aggressive monetary providers panorama, credit score unions should regularly consider their enterprise fashions, figuring out the place they’ll streamline processes to enhance efficiencies and optimize workers’ time,” mentioned Larry Nichols, Chief Executive Officer and President of MDT. “Partnering with AvidXchange is offering our credit score union shoppers with the know-how they want to considerably enhance the accounts payable course of, decreasing prices and empowering workers to conduct enterprise anyplace, no matter circumstances. Plus, it helps improve safety, a prime precedence at MDT and for our shoppers.”

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“At AvidXchange, we’re at all times energized by a brand new partnership and serving to their prospects rework the best way they obtain, handle and pay their payments,” mentioned Boyce Adams Jr, Senior Vice President of Growth at AvidXchange. “This new providing with MDT will hopefully make life simpler for credit score union professionals as they’re dealing with many business-altering challenges at present like cybersecurity threats and staffing points; paying their distributors appropriately and on-time needs to be the least of their worries proper now, that is why we’re bringing our answer to the desk to assist.”

To be taught extra, go to: https://www.avidxchange.com/products/avidascend/ or https://www.mdtmi.com/about-mdt/.

About Member Driven Technologies

Member Driven Technologies (MDT) offers a non-public cloud different for core processing and IT wants. The CUSO hosts the Episys® core platform from Symitar®, in addition to dozens of seamlessly built-in options and supporting providers to assist run all the establishment, resembling digital banking, funds, lending, cybersecurity and imaging. Rounding out its complete suite, MDT additionally presents enterprise continuity, catastrophe restoration and regulatory options in addition to consulting, knowledge analytics, e mail internet hosting and {hardware} buying providers. By partnering with MDT, credit score unions throughout the nation are boosting efficiencies, enhancing safety and decreasing prices whereas sustaining a excessive degree of management. Visit mdtmi.com or observe @memberdriven for extra info.

About AvidXchange™

AvidXchange is a number one supplier of accounts payable (“AP”) automation software program and cost options for center market companies and their suppliers. AvidXchange’s software-as-a-service-based, end-to-end software program and cost platform digitizes and automates the AP workflows for greater than 8,000 companies and it has made funds to greater than 825,000 provider prospects of its consumers over the previous 5 years. To be taught extra about how AvidXchange is remodeling the best way corporations pay their payments, go to www.AvidXchange.com.

Forward-Looking Statements

This press launch might comprise “forward-looking statements” inside the that means of the U.S. Private Securities Litigation Reform Act of 1995. In this context, forward-looking statements usually relate to future occasions or our future monetary or working efficiency and infrequently comprise phrases resembling: “anticipate,” “intend,” “plan,” “purpose,” “search,” “imagine,” “challenge,” “estimate,” “anticipate,” “future,” “possible,” “might,” “ought to,” “will” and comparable phrases and phrases indicating future outcomes. The info introduced on this press launch associated to our expectations of future efficiency, in addition to different statements that aren’t purely statements of historic truth, are forward-looking in nature. These forward-looking statements are made on the premise of administration’s present expectations, assumptions, estimates and projections and are topic to vital dangers and uncertainties that might trigger precise outcomes to differ materially from these anticipated in such forward-looking statements. We subsequently can’t assure future outcomes, efficiency or achievements.

Factors which may trigger precise outcomes or results to differ materially from these mirrored in forward-looking statements embrace, however are usually not restricted to, the chance elements and different cautionary statements described, from time to time, in AvidXchange’s filings with the Securities and Exchange Commission (“SEC”), together with, with out limitation, AvidXchange’s Annual Report on Form 10-Ok and different paperwork filed with the SEC, which can be obtained on the investor relations part of our web site (https://ir.avidxchange.com/) and on the SEC web site at www.sec.gov. Any forward-looking statements made by us on this press launch are based mostly solely on info presently accessible to us and converse solely as of the date they’re made, and we assume no obligation to replace any of those statements in gentle of latest info, future occasions or in any other case until required beneath the federal securities legal guidelines.

Contact

Olivia Sorrells 
[email protected] 
980-643-7889