AvidXchange CEO reveals pivotal decisions behind tech giant's success story
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Yahoo
a day ago
- Yahoo
New AvidXchange Report Shows Finance Teams More Prepared Than in 2020—But Still Investing to Weather Uncertainty
CHARLOTTE, N.C., July 17, 2025 (GLOBE NEWSWIRE) -- AvidXchange, Inc. a leading provider in accounts payable (AP) automation software and payment solutions for mid-market businesses and their suppliers, today announced the results of its 2025 Economic Sentiment Survey, conducted via Pollfish. The survey of 709 finance professionals reveals a key shift: 67% feel more prepared to handle today's economic uncertainty than they did in 2020, crediting increased technology investment and hard-earned experience. Many are continuing to double down on digital tools to stay agile amid inflation, supply chain disruptions, and ongoing market volatility. Economic Concerns Still Weigh Heavily While confidence is growing, post-Covid hangover remains. 86% of finance professionals express concern about the current state of the economy, with nearly half taking actions like cutting discretionary spending. Additionally, 50% say they are 'very concerned' about the likelihood of a recession, and 22% expect one to hit within the next 12 months. Tariffs and inflation are also reshaping financial planning: 83% report supplier cost increases due to inflation 52% say tariffs have led to moderate forecast adjustments Nearly 1 in 3 organizations are sharing those costs with customers These findings reflect a market still in flux—and the pressure on finance leaders to respond swiftly and strategically. Technology Fuels Financial Readiness Despite uncertainty, tech investments are enabling confidence. Seven in 10 finance professionals say technology is critical to their ability to respond to changing conditions, and 72% say tools implemented early in the pandemic are paying off today. In fact, 49% say they are more likely to invest in AI and automation specifically because of ongoing economic uncertainty. Top areas of focus include: AI and machine learning (48%) Data security and compliance tools (44%) Collaboration and workflow tools (36%) Finance teams are embracing technology not just to cut costs—but to enable smarter, faster decisions. Finance Professionals Emerge as Strategic Partners The survey findings point to a fundamental shift in how finance is viewed: from operational support to strategic leadership. Nearly 30% of teams are conducting scenario planning and financial modeling, while 27% are focused on strengthening supplier relationships—clear signals of a proactive, future-focused mindset. With better tools and a broader mandate, finance leaders are stepping into roles that directly shape business direction, resilience, and growth. Momentum in a Shifting Economy Though 52% of respondents expect volatility to continue into 2026, the overall tone is one of momentum. Finance professionals are moving from reactive to proactive, leaning into their role as stewards of strategy, stability, and innovation. 'Finance teams aren't just adapting—they're planning smarter, automating faster, and driving strategic decisions across the business,' said Dan Drees, President at AvidXchange. 'This research reinforces what we're seeing in the market—technology is a critical enabler for companies looking to drive efficiency and fuel growth.' To read the full report visit About AvidXchange®AvidXchange (Nasdaq: AVDX) is a leading provider in accounts payable (AP) automation, offering intelligent AP software and payment solutions specifically designed for mid-market businesses and their suppliers. With 25 years of industry experience, AvidXchange modernizes the way businesses manage their expenses and payments by offering AI-enhanced software coupled with support from experts. Empowering over 8,500 growth-driven businesses, AvidXchange increases efficiency, control, and visibility in financial operations and has securely processed payments to more than 1.3 million suppliers through its proprietary payment network over the past five years. For more information, visit Media Contact:Alexis RiddickPublic Relations Managerpr@ sesión para acceder a tu portafolio
Yahoo
2 days ago
- Yahoo
Grant Thornton UK and Teesside University launch new skills development scheme
Grant Thornton UK has collaborated with Teesside University to establish a skills development initiative aimed at enhancing key competencies within businesses. The 'AI and Digital Skills for Business Impact' programme focuses on equipping organisations with skills in digital technologies, change management, business process modelling, data essentials, and the use of AI for operational improvements. Co-developed by professionals from both Grant Thornton and Teesside University, the programme is designed to support employees across different levels of experience and career progression. The structure of the programme consists of four modules delivered over 12 months. The overall cost is £18,000, which corresponds with the Level 4 Business Analyst apprenticeship framework. Grant Thornton UK Partner and Talent Solutions head Ruth Walsh said: 'We are excited to announce our new apprenticeship programme, which is specifically designed to empower individuals across a broad spectrum of roles—not just those in traditional tech positions—to learn, understand, and effectively apply AI, digital, and data skills in their everyday work. 'As AI and digital technologies become increasingly integral to business success, equipping employees with these capabilities is crucial for future-proofing organisations. 'By focusing on practical applications and critical understanding of AI, digital tools, and data, this programme supports businesses in building resilient, adaptable teams capable of driving innovation and long-term success.' "Grant Thornton UK and Teesside University launch new skills development scheme" was originally created and published by International Accounting Bulletin, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Sign in to access your portfolio
Forbes
11-07-2025
- Forbes
New Options For British SMEs Struggling To Raise Debt
Chancellor of the Exchequer Rachel Reeves has urged banks to lend more to small businesses but new ... More services are needed Britain's banks continue to steer clear of small businesses hoping to borrow to fund growth. The problem has become so severe that in May, Rachel Reeves, the Chancellor of the Exchequer, summoned executives from banks including HSBC, NatWest and Lloyds to a meeting to explain how they will support the Government's mission to increase lending. A growing number of challenger banks have provided some succour, but bank lending to SMEs in the UK remains well-down on pre-Covid levels according to official figures. Still, it's not all bad news, with the UK's alternative finance sector continuing to grow at pace. Data just published by the accountant Grant Thornton suggests 69% of businesses in the UK looking for finance are now turning to alternative lenders from beyond the banking space. 'As traditional lenders become more selective, businesses are increasingly turning to alternative funding sources for support,' says George Fieldhouse, head of debt advisory at Grant Thornton. It's a remarkably broad market, spanning everything from invoice and asset finance – big names include Close Brothers, Novuna and Bibby – to crowdfunding platforms such as Thin Cats and Crowdcube. In the ecommerce market, leading players such as Paypal increasingly offer their own financing options. With so many different options available, many small businesses are turning to brokers to help them find the best deal. Indeed, the National Association of Commercial Finance Brokers says intermediaries helped small businesses raise £38 billion of lending last year alone. 'A third of SMEs successfully funded had already been declined funding elsewhere,' says the organisation. Paul Becker, CEO and co-founder of re:cap, a Berlin-based fintech that has just announced its launch into the UK market, recognises the need to give small businesses more support with raising money. 'Founders don't always have the financial literacy they need to navigate the funding environment,' Becker says. 'They need support to put themselves in the right position to secure a positive lending decision.' re:cap's approach to this challenge is a little different to that of a traditional broker. It has developed what it describes as a 'capital operating system' – effectively an online platform into which companies can input their data in order to enable analysis of their current financial strength and where and how funding could improve their growth prospects. Once this work is complete, re:cap has access to a $146 million (€125 million) credit facility provided by HSBC Innovation Banking and Avellinia Capital. The growth of alternative finance in the UK is welcome, says Becker, but many companies don't appreciate how much work will be required to secure lending. 'They are expected to commit to an extensive period of due diligence – on a par with what you'd expect during an equity round – with no guarantee of success at the end of the process.' The firm is particularly aimed at early-stage technology companies – in the software-as-a-service sector and adjacent verticals – that often struggle to secure credit because revenues have yet to take off. re:cap's experience of the German market, where it has helped firms raise well over $100 million, suggests lenders rejecting these technology start-ups are missing a trick. 'In three years of lending, we've not seen a single default,' says Becker. Julian Schickel, a founding partner at Avelina Capital, says the solution fills a gap in the UK market. 'Traditional banks rarely lend to start-up and growth tech companies and venture debt is usually only available for later stage companies,' he says. 'With re:cap, tech companies can easily and flexibly receive growth capital, while benefiting from a powerful real-time analytics platform.' It's an interesting development in a sector that continues to expand in both breadth and depth. As innovation in the alternative finance sector continues, the withdrawal of Britain's largest banks from much of the small business lending market may come to matter less.
