Latest news with #AvidXchange
Globe and Mail
a day ago
- Business
- Globe and Mail
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
Yahoo
a day ago
- Business
- 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
Forbes
17-06-2025
- Business
- Forbes
Preparing For The CEO Role: Lessons From A Fintech Leader
Michael Praeger is Cofounder and CEO of AvidXchange, a leading provider of accounts payable and payment automation technology. This year, AvidXchange celebrates its 25th anniversary, and I celebrate 25 years of being its cofounder and CEO. Leading a company that pioneered accounts payable automation has taught me invaluable lessons about leadership, adaptability and growth. Like many pioneers, I faced challenges without a clear roadmap. Navigating uncharted territory required constant learning, a willingness to embrace uncertainty and a commitment to seeking guidance beyond my immediate network. Early in my career, AvidXchange encountered growth hurdles due to our unprecedented business model. My mentors helped me realize that the solutions we needed lay outside my comfort zone. I had to be vulnerable enough to ask for help—not just from advisors but directly from our customers. The key wasn't just asking questions but learning to ask the right questions, a skill that ultimately helped solve some of our toughest challenges. One pivotal moment revealed the need to redirect our business model entirely. Investors had bought into the original vision, making the decision daunting. Yet, embracing uncertainty and making that bold move helped AvidXchange grow into a company generating over $400 million in annual revenue and serving over 8,500 middle-market companies in North America. Over the course of my career, I've learned there's no single roadmap to success. However, three key practices can strengthen leadership: focusing on the core customer, driving innovation and scaling effectively. A 2024 Qualtrics report revealed that 66% of customers don't directly report poor experiences to a company. This underscores the importance of proactively engaging customers. When customers feel valued, they're more likely to share feedback that holds critical insights for business success. Customers are far more than just a market segment or revenue projections—they're partners in your growth. Building genuine relationships with customers can elevate a business from good to great. Fostering these connections builds a customer-obsessed mindset that should resonate across all departments, not just customer-facing teams. From C-suite executives to sales, marketing and product teams, everyone should be equally passionate about solving customer challenges. As a leader, you must continuously pursue innovation, growing alongside your company to drive its continued success. A strong culture of curiosity and improvement is essential—it requires questioning the world around you, seeking inspiration in every opportunity and challenging the status quo. This mentality must be embedded in your company culture. When you prioritize curiosity, innovation and a strong team, you attract others who believe in your vision. Research shows that 66% of CEOs regret not focusing earlier on building their teams. The right people fuel success—by bringing on those who lead with innovation, you strengthen your potential for long-term growth. Scaling a business effectively requires measurable reinforcement across departments to maintain focus and drive progress. A Harvard Business Review study (paywall) found that decisive CEOs—those who make confident, informed decisions—tend to perform better. Establishing operational rhythms fosters alignment. For instance, my teams have used a red-yellow-green status system in meetings to ensure transparency and collaboration, helping move projects from risk to success. This ensures that our results remain on track throughout the year. New CEOs will quickly realize that learning never stops. A genuine curiosity to learn—and the humility to be wrong—are essential leadership traits. My curiosity is fueled by reading and engaging with diverse perspectives, which bring fresh insights to the workplace. I encourage all leaders to stay curious—it's a powerful way to evolve. Forbes Technology Council is an invitation-only community for world-class CIOs, CTOs and technology executives. Do I qualify?
Business Journals
20-05-2025
- Business
- Business Journals
AvidXchange CEO reveals pivotal decisions behind tech giant's success story
Michael Praeger, co-founder and CEO at AvidXchange, talks with Mike McGuire, former CEO at Grant Thornton, during the headline speaker portion of Seed The South on May 20. Melissa Key/CBJ
Business Journals
20-05-2025
- Business
- Business Journals
Michael Praeger shares AvidXchange's path to $2.2B acquisition
Michael Praeger, co-founder and CEO at AvidXchange, talks with Mike McGuire, former CEO at Grant Thornton, during the headline speaker portion of Seed The South on May 20. Melissa Key/CBJ
