AvidXchange CEO Shares His Vision for Revolutionizing Software-Enabled Payments on Today's Marketplace

Core Insights - AvidXchange is transforming accounts payable (AP) processes for middle-market companies through software-enabled solutions, addressing unique challenges in supplier and vendor payments [1][4][5] - The automation of AP is becoming a priority for companies to reduce costs and enhance efficiency, particularly in the middle-market segment [3][4] Company Overview - AvidXchange is a leading provider of AP automation software and payment solutions, serving over 8,000 buyer customers and facilitating payments to more than 1,200,000 suppliers over the past five years [5][6] - The company operates on a Software-as-a-Service (SaaS) model, digitizing and automating AP workflows [5] Industry Context - The middle-market segment faces significant issues with late payments, which can lead to late fees and financial distress [3][4] - Financial fraud is a notable threat to middle-market companies, highlighting the need for robust safeguards and educated professionals in the FinTech space [4][7] Educational Initiatives - Creighton University's Heider College of Business is developing a new FinTech major to prepare students for careers in innovative financial technology, emphasizing the importance of staying current with industry advancements [4][7]