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Avidxchange Holdings Inc's Business Segments
Avidxchange Holdings Inc's reported revenue by business segment and by geographic region, quarterly and annual, normalized against the consolidated income statement. Free below: the top 3 rows per table, this quarter and this fiscal year. Subscriber access adds the full segment history and operating income by segment.
Segment Data As of FY
Reportable Segments
3
Largest Segment
Payment
Total Revenue
$ 111
Regions Reported
-
Revenue Share by Reportable Segment - FY
- Payment69.4%
- Software29.8%
- Services0.9%
Revenue by Reportable Segment - FY
| Segment | Revenue (Millions) | % of Total |
|---|---|---|
| Payment | $ 77 | 69.4% |
| Software | $ 33 | 29.8% |
| Services | $ 1 | 0.9% |
Revenue by Product & Service Category - FY
- Payment69.4%
- Software29.8%
- Services0.9%
Revenue by Product & Service Category - FY
| Category | Revenue (Millions) | % of Total |
|---|---|---|
| Payment | $ 77 | 69.4% |
| Software | $ 33 | 29.8% |
| Services | $ 1 | 0.9% |
Product and service categories are a supplemental disclosure and are not required to sum to consolidated revenue or to the reportable segments above.
Annual Results
Revenue Share by Reportable Segment - FY
- Payment69.4%
- Software29.8%
- Services0.9%
Revenue by Reportable Segment - FY
| Segment | Revenue (Millions) | % of Total |
|---|---|---|
| Payment | $ 77 | 69.4% |
| Software | $ 33 | 29.8% |
| Services | $ 1 | 0.9% |
Description of Avidxchange Holdings Inc
We are a leading provider of accounts payable ("AP") automation software and payment solutions for middle market businesses and their suppliers. Our Software-as-a-Service ("SaaS") based, end-to-end software and payment platform digitizes and automates the AP workflows for more than 8,000 businesses (our buyers) and we have made payments to more than 825,000 supplier customers of our buyers (suppliers) over the past five years. While acquiring new and retaining existing relationships with buyers and suppliers are important to our business, the growth of our business is ultimately dependent upon the number of transactions we process, as well as our total payment volume. We developed our technology platform through years of working to solve our buyers' unique middle market workflow challenges. Leveraging our deep domain expertise, we purpose-built a powerful two-sided network that connects buyers and suppliers, drives digital transformation, increases efficiency and accuracy in AP workflows, accelerates payments, enables insight into critical analytics, and lowers operating costs for our buyers.
AvidXchange Holdings Inc. specializes in automation solutions tailored for the accounts payable and payment processes of businesses. Over the years, the company has developed a comprehensive suite of products and services aimed at streamlining financial operations for mid-market businesses. Below is an exhaustive breakdown of the segments, products, and services offered by AvidXchange:
Segments
1. Accounts Payable Automation:
- AvidXchange focuses on automating the accounts payable process, allowing companies to reduce the time and effort spent on processing invoices. The solution covers everything from invoice capture to payment execution, minimizing manual tasks and enhancing accuracy.
2. Payment Solutions:
- The company also provides integrated payment processing services that allow users to execute payments efficiently. This segment addresses payment methods to vendors, including ACH, virtual cards, and check payments.
3. Vendor Management:
- AvidXchange offers tools for managing vendor relationships, including onboarding new vendors and maintaining updated vendor information, to ensure compliance and streamline interactions.
4. Reporting and Analytics:
- The company provides reporting tools that allow businesses to track their financial transactions, analyze expenditures, and gain insights for better fiscal decision-making.
Products
1. AvidInvoice:
- This product serves as the backbone of AvidXchanges accounts payable automation. It facilitates the submission, approval, and processing of invoices electronically, which drastically decreases processing times and increases transparency.
2. AvidPay:
- AvidPay is the payment processing component that allows businesses to make electronic payments securely via various methods like ACH transfers or virtual cards, thus ensuring timely payments to vendors while also maximizing cash management.
3. Vendor Network:
- AvidXchange boasts a vast vendor network which enables clients to connect with a large pool of suppliers, streamlining vendor payments and enhancing relationships through efficient financial transactions.
4. AvidXchange Mobile App:
- This application allows users to manage approvals and payments on-the-go, providing flexibility and accessibility for finance teams working remotely or out of the office.
5. Integration Solutions:
- AvidXchange provides integration capabilities with popular accounting software and ERPs, streamlining the flow of information and ensuring data consistency across all financial systems.
Services
1. Implementation Services:
- AvidXchange offers implementation services to assist businesses in configuring their systems according to their specific needs, ensuring seamless deployment and integration into existing workflows.
2. Customer Support and Training:
- The company provides ongoing customer support and training to ensure that users are equipped to utilize the software effectively. This includes web-based tutorials, documentation, and personalized assistance.
3. Consulting Services:
- AvidXchange may offer financial consulting services to help clients optimize their accounts payable processes, identify efficiencies, and enhance their overall financial management strategy.
4. Compliance and Risk Management:
- The company assists businesses in maintaining compliance with financial regulations and standards, helping to mitigate risks associated with fraud and data security in financial transactions.
5. Process Optimization:
- Through analysis and advice, AvidXchange seeks to help businesses streamline their financial processes, reduce redundancies, and improve overall operational efficiency.
Target Market
AvidXchange primarily targets mid-sized businesses across various sectors, including real estate, construction, healthcare, and technology. These companies often face challenges with traditional, manual accounts payable processes and benefit significantly from the automation solutions offered by AvidXchange.
In summary, AvidXchange Holdings Inc. provides a robust array of products and services designed to automate and enhance accounts payable and payment processes for mid-sized businesses, leveraging technology to improve efficiency, reduce costs, and facilitate better financial management. The combination of automation, integrated payment solutions, comprehensive vendor management, and strong customer support positions AvidXchange as a leading player in the financial technology space.
Segments
1. Accounts Payable Automation:
- AvidXchange focuses on automating the accounts payable process, allowing companies to reduce the time and effort spent on processing invoices. The solution covers everything from invoice capture to payment execution, minimizing manual tasks and enhancing accuracy.
2. Payment Solutions:
- The company also provides integrated payment processing services that allow users to execute payments efficiently. This segment addresses payment methods to vendors, including ACH, virtual cards, and check payments.
3. Vendor Management:
- AvidXchange offers tools for managing vendor relationships, including onboarding new vendors and maintaining updated vendor information, to ensure compliance and streamline interactions.
4. Reporting and Analytics:
- The company provides reporting tools that allow businesses to track their financial transactions, analyze expenditures, and gain insights for better fiscal decision-making.
Products
1. AvidInvoice:
- This product serves as the backbone of AvidXchanges accounts payable automation. It facilitates the submission, approval, and processing of invoices electronically, which drastically decreases processing times and increases transparency.
2. AvidPay:
- AvidPay is the payment processing component that allows businesses to make electronic payments securely via various methods like ACH transfers or virtual cards, thus ensuring timely payments to vendors while also maximizing cash management.
3. Vendor Network:
- AvidXchange boasts a vast vendor network which enables clients to connect with a large pool of suppliers, streamlining vendor payments and enhancing relationships through efficient financial transactions.
4. AvidXchange Mobile App:
- This application allows users to manage approvals and payments on-the-go, providing flexibility and accessibility for finance teams working remotely or out of the office.
5. Integration Solutions:
- AvidXchange provides integration capabilities with popular accounting software and ERPs, streamlining the flow of information and ensuring data consistency across all financial systems.
Services
1. Implementation Services:
- AvidXchange offers implementation services to assist businesses in configuring their systems according to their specific needs, ensuring seamless deployment and integration into existing workflows.
2. Customer Support and Training:
- The company provides ongoing customer support and training to ensure that users are equipped to utilize the software effectively. This includes web-based tutorials, documentation, and personalized assistance.
3. Consulting Services:
- AvidXchange may offer financial consulting services to help clients optimize their accounts payable processes, identify efficiencies, and enhance their overall financial management strategy.
4. Compliance and Risk Management:
- The company assists businesses in maintaining compliance with financial regulations and standards, helping to mitigate risks associated with fraud and data security in financial transactions.
5. Process Optimization:
- Through analysis and advice, AvidXchange seeks to help businesses streamline their financial processes, reduce redundancies, and improve overall operational efficiency.
Target Market
AvidXchange primarily targets mid-sized businesses across various sectors, including real estate, construction, healthcare, and technology. These companies often face challenges with traditional, manual accounts payable processes and benefit significantly from the automation solutions offered by AvidXchange.
In summary, AvidXchange Holdings Inc. provides a robust array of products and services designed to automate and enhance accounts payable and payment processes for mid-sized businesses, leveraging technology to improve efficiency, reduce costs, and facilitate better financial management. The combination of automation, integrated payment solutions, comprehensive vendor management, and strong customer support positions AvidXchange as a leading player in the financial technology space.