AvidXchange Partners with MDT, – GuruFocus.com

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

This partnership will assist promote AvidAscend, a finest-in-class bill-to-pay software program resolution, to MDT’s 100+ credit score union purchasers. AvidAscend seamlessly integrates with the Symitar Episys^® platform hosted by MDT, permitting customers to save lots of time and prices by transitioning from antiquated paper-primarily based programs to streamlining the AP course of by way of one automated, cloud-primarily based resolution. Furthermore, automating these processes offers a extra organized method to AP duties by permitting the platform to deal with among the typical duties of the division, in addition to extra visibility and management over excellent invoices, offering again-workplace professionals extra time to deal with bringing strategic worth to the group.

“During the pandemic, our AP division confronted challenges in transitioning to distant work resulting from guide processes, so we regarded to implement a contemporary, extra automated accounts payable system that workers may function from wherever,” mentioned Tammy Bengel, Chief Financial Officer of Portland Federal Credit Union. “By leveraging AvidAscend via our partnership with MDT, we’re in a position to hold a detailed pulse on the standing of invoices and enhance accountability via frequent automated reminders and larger transparency of our accounts. The ease of use of the know-how has improved each our workers’ expertise and supplied a extra streamlined, environment friendly vendor expertise as properly.”

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

“At AvidXchange, we’re at all times energized by a brand new partnership and serving to their clients rework the way in which 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 enterprise-altering challenges at this time like cybersecurity threats and staffing points; paying their distributors accurately and on-time needs to be the least of their worries proper now, that is why we’re bringing our resolution 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 personal 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 companies to assist run the complete establishment, comparable to digital banking, funds, lending, cybersecurity and imaging. Rounding out its complete suite, MDT additionally gives enterprise continuity, catastrophe restoration and regulatory options in addition to consulting, information analytics, e-mail internet hosting and {hardware} buying companies. By partnering with MDT, credit score unions throughout the nation are boosting efficiencies, enhancing safety and decreasing prices whereas sustaining a excessive stage of management.  Visit mdtmi.com or observe @memberdriven for extra data.  

About AvidXchange™

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

Forward-Looking Statements

This press launch could comprise “ahead-trying statements” throughout the that means of the U.S. Private Securities Litigation Reform Act of 1995. In this context, ahead-trying statements typically relate to future occasions or our future monetary or working efficiency and sometimes comprise phrases comparable to: “anticipate,” “intend,” “plan,” “aim,” “search,” “consider,” “mission,” “estimate,” “count on,” “future,” “possible,” “could,” “ought to,” “will” and related phrases and phrases indicating future outcomes. The data 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 ahead-trying in nature. These ahead-trying statements are made on the premise of administration’s present expectations, assumptions, estimates and projections and are topic to vital dangers and uncertainties that would trigger precise outcomes to vary materially from these anticipated in such ahead-trying statements. We due to this fact can’t assure future outcomes, efficiency or achievements.

Factors which may trigger precise outcomes or results to vary materially from these mirrored in ahead-trying statements embody, however aren’t restricted to, the chance elements and different cautionary statements described, once in a while, in AvidXchange’s filings with the Securities and Exchange Commission (“SEC”), together with, with out limitation, AvidXchange’s Annual Report on Form 10-Okay 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 ahead-trying statements made by us on this press launch are primarily based solely on data at present obtainable to us and converse solely as of the date they’re made, and we assume no obligation to replace any of those statements in mild of latest data, future occasions or in any other case until required underneath the federal securities legal guidelines.

Contact

Olivia Sorrells
[email protected]
980-643-7889