- AvidXchange, a provider of accounts payable automation software and other solutions in the fast money transfer world, has announced a new software package for middle-market businesses.
- A wide variety of international currencies are accepted regarding payment destinations – including the single European currency and the British pound.
- “AvidXchange strives to provide a true end-to-end solution that saves our customers time without adding extra steps,” said Michael Praeger, who is Co-Founder and CEO.
AvidXchange, a provider of accounts payable automation and other solutions in the fast money transfer world, has announced a new software package for middle-market businesses.
AvidXchange said it had made the leap into the cross-border payments world for business-to-business transactions.
It will make its new solution available to clients of Oracle NetSuite in the first instance.
It will be accessible to those customers through SuiteApp, offered by NetSuite’s SuiteCloud service.
Customers who are using this app and based in the US can make transfers to suppliers in their own area and abroad without navigating out of the NetSuite service.
Payments can be initiated from a US dollar bank account, press reports said.
A wide variety of international currencies are accepted on the other end of the transaction – including the single European currency and the British pound.
There is also a high level of transparency around it.
In a statement, CEO and Co-Founder Michael Praeger said that the current market meant that people in organisations were seeking “direct payment processes”.
“In today’s market, organisations want direct payment processes. AvidXchange’s domestic and international payment modules are embedded in NetSuite, meaning our customers never need to leave the system to make payments,” he said.
He went on to say that the service on offer was “end-to-end” in a true sense.
“AvidXchange strives to provide a true end-to-end solution that saves our customers time without adding extra steps,” he explained.
Tyler Gill, Vice President and Business Line Executive of strategic partnerships and alliances at AvidXchange, said the new arrangement made the firm “excited” – and that it would help customers and the wider industry. He also mentioned that the company had been involved with NetSuite for a long time.
“We’re excited to introduce this cross-border payment offering because of what it means for our customers and the market as a whole,” he said.
“AvidXchange has partnered with NetSuite for nearly 15 years, and this integration is a great way to show gratitude to our joint customers,” he added.
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