AvidXchange AvidPay for MIP Fund Accounting®
AP Automation with AvidXchange AvidPay for MIP Fund Accounting®
EXPLORE THE SOFTWARE
AvidXchange AvidPay:
AP Automation for MIP Fund Accounting®
Take command of your payment process with AvidXchange AvidPay, a leading AP automation solution designed to seamlessly integrate with MIP Fund Accounting®. By eliminating manual check runs, reducing fraud exposure, and providing real-time payment visibility, AvidPay empowers both finance and non-finance personnel to manage and approve payments securely from anywhere.
Manually paying vendors—stuffing checks, chasing approvals, and reconciling data—can be time-consuming and prone to errors. AvidPay modernizes your entire payment workflow, offering one streamlined system that automatically processes and posts payments into MIP Fund Accounting®. With over 1.2 million suppliers in the AvidPay Network and 75 million transactions processed in 2023, you can offload the burden of check printing and gain a clear view of every transaction.
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Empower Your Payment Process
AvidPay Features
These core features are specifically built to enhance your AP automation, with direct integration into MIP Fund Accounting® to keep your organization’s financials accurate and up to date.
Full-Service Payment Execution
- Offload payment processing—AvidXchange’s dedicated service team prints checks, handles ACH and credit card payments, and manages payment inquiries on your behalf.
- Supplier onboarding and maintenance is included, increasing e-payment adoption and reducing payment errors.
Real-Time Visibility
- Track every payment in progress with intuitive dashboards.
- Know exactly where each payment stands, from approval through final settlement.
Flexible Approval Workflows
- Create multi-level approval queues that align with your organization’s policies.
- Approve invoices and payments anytime, anywhere—via desktop or mobile.
Enhanced Security &
Fraud Prevention
- Limit liability by keeping sensitive bank data offsite—AvidXchange stores and protects vendor account details.
- Every check includes Positive Pay to help shield you from fraud.
Seamless MIP Integration
- Eliminate double-entry errors—once approved, payments sync with MIP Fund Accounting®.
- Keep your general ledger updated in real time, ensuring accurate financial reporting.
Beyond the Basics: Extended Capabilities
Additional Features
AvidPay MIP Fund Accounting provides more than simple AP automation. These extended capabilities focus on speed, insight, and scalability:
Automated Alerts & Notifications
Receive reminders for pending approvals, expiring budgets, or overdue payments, preventing bottlenecks and ensuring timely vendor payments.
Reduced Manual Processes
Eliminate stuffing envelopes, signing checks, and posting payments. AvidPay streamlines it all, letting you focus on higher-value tasks.
In-Depth Reporting & Analytics
Get detailed reports on payment methods, vendor performance, and departmental spend to make data-driven decisions.
Payment Scheduling & Forecasting
Schedule one-time or recurring payments and forecast cash flow with better accuracy, ensuring you never miss a due date.
Scalable Solution
Whether you pay 50 invoices a month or thousands, AvidXchange grows with you. Unlimited user access means no extra fees as your AP team expands.
Drop Us A Line!
Dennis McGovern
Dennis McGovern, Owner of McGovern Consulting, LLC, has over twenty years experience providing management consulting and financial management technology solutions to hundreds of tax exempt and non-profit organizations throughout the U.S.