CHARLOTTE, N.C., May 15, 2019 /PRNewswire/ -- AvidXchange™, a leading fintech provider of accounts payable (AP) and payment automation solutions, is commemorating four years of momentum in community association management with its AvidXchange Strongroom product. Now utilized by more than 500 community management companies and 50,000 home owner associations (HOA's) nationwide, AvidXchange Strongroom helps companies scale and add communities to their portfolio by providing a faster, more reliable way to process invoices and make payments. AvidXchange also announced today a new partnership with Vantaca, an end-to-end software solution designed specifically to meet the complex needs of association managers, accounting teams, board members and homeowners.
"The momentum behind AvidXchange Strongroom has only continued to build over the past four years, solidifying its position as the leading purpose-built solution for community association management," said Tyler Gill, Vice President of Home Owner Associations at AvidXchange. "We are excited to deliver new enhancements like the Vantaca integration and look forward to partnering with a fellow innovator in the industry to bring more value to our customers."
AvidXchange Strongroom Grows its Own Community, 500 Companies and 50,000 Associations Strong
With all invoices and payments in a centralized hub, AvidXchange Strongroom provides a full audit trail, greater accuracy in reporting and the ability to give board members full insight into spend. Decision-makers can quickly identify bottlenecks for approvals, and auditors can easily review invoices in two to three hours rather than two to three days. AvidXchange Strongroom also helps community management companies reduce processing costs by up to 60 percent, minimizing challenges like lost invoices, delayed approvals and late fees by automating approval workflows and providing digital payment options to eliminate paper checks.
"One of the most important decisions we've made as a business was to select AvidXchange Strongroom because it allows us to eliminate our time focused on processing paper so we can focus on what really matters, which is taking care of our clients," said Kelly Hawkins, President & CEO of KRJ Association Management.
Vantaca Joins Growing List of AvidXchange Strongroom Accounting Partners for HOA
Through AvidXchange and Vantaca's new strategic partnership, the AvidXchange Strongroom solution will integrate seamlessly with Vantaca's accounting system, creating a unified platform to manage all financial operations. Community management companies utilizing both technologies will benefit from real-time data sharing and cross-platform visibility, helping to streamline AP processes and speed invoice approvals. Vantaca's integration marks the eighth industry-specific accounting system partnership fostered to better serve AvidXchange Strongroom customers.
"Vantaca provides an end-to-end software solution that is adaptable to community association businesses' unique needs, providing real-time communication and service between the company, homeowners and board members" said Dave Sweyer, CEO of Vantaca. "Now, through the integration with AvidXchange Strongroom, our solution is making the lives of our users even more efficient because they can automate manual invoice and payment processes, while keeping data in a single platform."
To learn more about AvidXchange Strongroom, meet us in booth 527 at the CAI Annual Conference & Expo or visit www.avidxchange.com/strongroom-solutions/.
To learn more about Vantaca, meet us in booth 627 at the CAI Annual Conference & Expo or visit Vantaca.com.
Vantaca is breaking boundaries in the world of HOA Management software solutions. We create the leading-edge technology of tomorrow today, providing a software solution where mobility, up-to-the-minute data, reporting and analytics come together. We believe the best association management software has no boundaries, so we continually strive to make the best better. Schedule a demo to find out how Vantaca can empower you to run your business in real time all the time at Vantaca.com.
Founded in the year 2000, AvidXchange transforms the way companies pay their bills. Trusted by more than 5,500 customers throughout North America, AvidXchange is the industry leader in automating invoice and payment processes across the real estate, HOA, construction, and healthcare industries. AvidXchange is distinguished as a global fintech unicorn and one of the fastest growing technology companies in the U.S., offering a complete solution designed to help mid-market businesses modernize operations and embrace the future of finance. For more information, visit www.AvidXchange.com.