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Avidxchange Holdings Inc   (AVDX)
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    Sector  Technology    Industry Software & Programming
   Industry Software & Programming
   Sector  Technology

Avidxchange Holdings Inc 's

Competitiveness


 

AVDX Sales vs. its Competitors Q3 2023



Comparing the current results to its competitors, Avidxchange Holdings Inc reported Revenue increase in the 3 quarter 2023 by 19.74 % year on year.
The sales growth was above Avidxchange Holdings Inc 's competitors' average revenue growth of 11.75 %, achieved in the same quarter.

List of AVDX Competitors





Revenue Growth Comparisons




Net Income Comparison


Avidxchange Holdings Inc , despite income growth by most of its competitors recorded a net loss, despite income increase by most of its competitors of 665.43 %

<<  AVDX Stock Performance Comparisons


Avidxchange Holdings Inc 's Comment on Competitors and Industry Peers


We believe the overall market for AP software and payments solutions is highly fragmented, competitive and evolving and is marked by rapid change and consolidation due to technological innovations and continued adoption by businesses. Although we expect businesses to continue to adopt AP and payment automation solutions, we often find that we are selling our products and services to potential customers that have use a variety of separate solutions or internally developed policies and procedures, and we must be able to convince internal stakeholders that our products and solutions are superior to their existing processes or third-party solutions.
Our current competitors range from fintech companies, such as Bill.com and Coupa Software, and financial institutions to smaller, niche providers of software and services, as well as point solutions provided by ERP vendors. We compete with companies that offer comprehensive solutions focused on the entire AP and payment processes and companies that focus only on select portions of these processes such as invoice and bill presentment, document and workflow management, AP and payment processing or accounts receivable. Solutions are also often specifically tailored to industry vertical or customer size making it difficult to expand into new verticals or attract larger or smaller customer types.
Accounting and ERP software providers, financial institutions, payment processing, and other service providers, a number of which we partner with in offering our solutions, may currently offer or develop solutions, acquire third-party solutions or competitors, or enter into strategic relationships that would enable them to expand their solutions to compete more effectively with our products and services. These parties may have access to larger, installed customer bases and may be able to effectively bundle and cross sell competitive solutions with their other services, which may enable them to compete more effectively or provide them with greater pricing and operating flexibility.
Companies that currently focus on providing solutions to enterprise businesses or SMBs may seek to expand the offering of their solutions to midmarket customers which would be more directly competitive with the products and services that we offer. New entrants not currently considered to be competitors may also enter the market through acquisitions, partnerships, or strategic relationships.



  

Overall company Market Share Q3 2023

Overall company sales advanced by 19.74 % Avidxchange Holdings Inc outperformed its competitors in this segment and improved market share, to approx. 2.73 %.
<<  More on AVDX Market Share.
 
*Market share is calculated based on total revenue.

  News about Avidxchange Holdings Inc Contracts

Automating Hotel Accounting: CoreSelect Live, AvidXchange, and M3 Partnership Leads the Way

Pay Integration for CoreSelect Live, AvidXchange, and M3 Partnership Revolutionizes Hotel Accounting with Fully Automated Financial Management Solution
Industry leaders collaborate on exclusive payment embedded automation integration for CoreSelect and Comparing the current results to its competitors, Avidxchange Holdings Inc reported a revenue increase in the 3rd quarter of 2023 by 19.74% year on year, while most of its competitors have experienced a contraction in revenues by -0.15%.
In an era where technology is rapidly transforming industries, a groundbreaking partnership between CoreSelect Live, AvidXchange, and M3 has emerged to revolutionize hotel accounting through a fully automated financial...





Who are Avidxchange Holdings Inc 's Competitors?




Deluxe Corporation
Share Performance



-3.15%
30 Days



Deluxe Corporation
Profile

Deluxe Corporation operates as a trusted provider of various business services and products, primarily focusing on check printing and related financial services catering to small businesses, financial institutions, and individual consumers. They aim to enhance the growth and success of their clients by offering customized solutions and innovative tools for marketing, payments, and other essential business operations.

More about Deluxe Corporation's Market Share

Market Cap. Revenues TTM Net Income TTM
$ 857.976 mill. $ 2,192.260 mill. $ 26.227 mill.


Intuit Inc
Share Performance



+10.87%
This Year



Intuit Inc
Profile

Intuit Inc is a software company that primarily generates revenue by selling licenses and subscriptions for its various financial management and tax preparation software products. Additionally, they offer online services, such as QuickBooks Online, with a subscription-based model to provide small businesses with accounting and financial management solutions.

More about Intuit Inc 's Market Share

Market Cap. Revenues TTM Net Income TTM
$ 190,098.240 mill. $ 15,094.000 mill. $ 2,770.000 mill.



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