AvidXchange Holdings, Inc. announced a strategic partnership with MIP Fund Accounting by Community Brands in combination with a new invoice-to-pay application programming interface (API) integration. This partnership grants MIP - a leading cloud-based, SaaS fund accounting solution purpose-built for nonprofits and government organizations - the ability to market and offer AvidXchange as an AP automation solution to its 6,000 customers across the country. Through this partnership, AvidXchange offers MIP customers a more seamless and efficient way to process invoices and make payments, freeing up their time to focus on more strategic work to drive their mission forward.

The API integration between AvidXchange and MIP enables customers to sync GL codes, vendor lists, invoices, and payments, reducing time spent on manually executing these time-intensive and repetitive tasks. Together, this provides a fully digitized invoice-to-pay process, including configurable user permissions and transparency into dataflows between the systems, offering more visibility and control than if a customer completed this process using paper-based methods. In addition, custom workflows support additional layers of control on the platform, creating security gateways to help reduce the risk of fraud.

Real-time data and insights through AvidXchange's reporting capabilities allow for increased visibility into the organization's finances than if executed offline.