From the Wires
DocuLynx Forms Strategic Partnership with AvidXchange
By: Business Wire
Feb. 28, 2013 01:18 PM
DocuLynx today announced a partnership with AvidXchange, the first SaaS technology vendor to automate invoice processing. Both companies were recognized among the fastest-growing privately held companies in the United States on the Inc. 500|5000; DocuLynx for document capture and cloud archiving solutions, AvidXchange for Payment and AP Automation. Together, these two companies bring to the marketplace a fully automated payment and accounts payable solution that not only streamlines business processes, but addresses regulatory and compliance hurdles using the best technology available in records management and cloud-based storage solutions.
Through this strategic partnership, DocuLynx offers paper-intensive industries such as financial services, manufacturing and government, an automated end-to-end solution that goes beyond traditional archiving.
“By combining the best in document capture, cloud-based storage and AP automation, we are enabling our customers to see significant efficiencies and savings year over year,” stated Michael Liess, DocuLynx President and CEO.
Liess continues, “Our customers count on DocuLynx to provide best-in-class archiving solutions to help manage high value documents to meet heightened security and compliance requirements; AvidXchange’s AP Automation solution complements this offering. Both companies are highly focused on streamlining processes for companies buried in paper documents.”
Given the natural integration of the two solutions, customers are likely to see savings of 60% or more in less than 45 days – a record-breaking pace for any AP solution alone, not to mention one paired with such a comprehensive cloud-based archive solution.
“By combining DocuLynx’s data archiving / storage capabilities with AvidXchange’s automation tools, customers will have the ability to continue advancing their automation strategies starting with the receipt of vendor invoices, and facilitating an entire paperless process all the way through executing vendor payments,” commented Michael Praeger, CEO and Co-Founder of AvidXchange.
The companies plan to work closely together and provide a truly seamless experience for their customers. Every customer will have the benefit of having two experienced teams at their disposal to answer questions, provide support and create customized solutions that fulfill their archiving and automation needs.
DocuLynx is the leading provider of Active Information Archive™ Solutions; an end-to-end archiving solution that simply captures, manages and presents business critical information in one powerful platform. Since 2004, DocuLynx has provided clients cloud-based archiving solutions that exceed regulatory compliance standards in a variety of high volume, high transaction industries including financial services, manufacturing and government. DocuLynx was ranked #159 in Inc. Magazine's 500 Fastest Growing Private Companies in America in 2011. DocuLynx is headquartered in Omaha, Nebraska and has 11 offices throughout the U.S. DocuLynx is host to 60 billion images. Contact us at 916.984.6495/mailto: firstname.lastname@example.org or visit http://www.doculynx.com.
AvidXchange revolutionizes the way companies pay their bills. AvidXchange offers a complete automation solution that automates companies AP and payment processes, from invoice receipt through vendor payment. AvidXchange completely eliminates companies’ need for paper checks and invoices, while increasing control over and visibility into payment and AP processes. As the first SaaS technology vendor to automate invoice processing, AvidXchange works with suppliers to electronically send and receive invoices. AvidXchange offers standard integration to more than 35 accounting systems for simplified setup and implementation in 45 days or less—guaranteed. Headquartered in Charlotte North Carolina, AvidXchange is privately held with over 150 employees nationwide. Contact us at 800.560.9305/ info@AvidXchange.com.
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