| MRI Software and AvidXchange,
Inc. have developed a preferred
partnership to create an improved electronic payables offering
for the real estate industry - AvidInvoice
for MRI.
Reducing the high cost of paper invoice
processing
This solution seeks to minimize the cost of processing payables
with a paper system, which can average $21 an invoice, encompassing:
- $7 to process invoice (labor, paper, space)
- $12 for dispute resolution (time, labor, phone calls)
- $2 for payment (postage, checks, envelopes and labor)
According to the Institute of Management & Administration,
clients can realize a 41% reduction in costs with an electronic
system. ($6.43 per invoice with a manual process and $3.79 per invoice
with an electronic payables process.)
The partnering of industry leaders
AvidXchange is an industry leader in electronic invoicing management
solutions and after analyzing the benefits of numerous vendors,
AvidXchange was selected because:
- They serve the same markets as MRI Software
- Like MRI Software, they are SAS 70 Type II certified for their application
hosting solution, allowing clients to include this certification
in their Sarbanes-Oxley program
- More than half of their clients already use MRI Software
Partnership offers numerous benefits
to clients
This partnership involves an enhanced integration including:
- The opportunity for shared clients to work concurrently with
MRI Software and AvidXchange on future integration and design enhancements
- Dedicated product support for AvidInvoice for MRI
- Fully tested interfaces that are part of the release process
for both solutions
AvidXchange further enhances MRI Software'
AP process
The procurement to payment workflow follows the process from when
the requisition was entered until the invoice is actually paid.
The addition of AvidXchange automates invoices when they are:
- Received and scanned
- Routed and approved
- Batched and entered
For more information, contact Mike
Praeger to set up a Webinar.
If you need more information on
any of our property management or corporate real estate software
solutions, please contact us.
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