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4 Game-Changing Technologies to Help Grow Your Nonprofit

Emerging technologies are shaping the future of work in terms of both people and processes. With the efficiency and productivity technology brings, organizations are able to redefine roles and free employees up to focus on more strategic initiatives to effectively grow and scale their business.

Artificial Intelligence (AI), 5G, Internet of Things (IoT) and other automated solutions can remove manual inefficiencies, mitigate fraud risk and transform processes to accelerate growth. But it can also be a bit challenging to keep up with how to best leverage these offerings for your nonprofit as technology constantly evolves.

In this session, Tim Eyrich from Avidxchange discusses where to begin implementing some of the latest technologies to help your organization increase efficiencies and productivity to grow and scale successfully. In this on-demand replay, you will:

  • Learn how technologies like AI, 5G, Internet of Things and AP and payment automation technologies can help your organization run more efficiently
  • Hear first-hand how automation technology can impact your bottom line
  • Discover new solutions that can help you eliminate the need for manual processes like check printing and invoice processing

Interested in learning more about how JMT and AvidXchange can help you operate more efficiently?

Kim Fellman @ JMT Consulting : Hello everyone and welcome to today's webinar for game changing technologies to help grow your business. My name is Kim Selman I'm a marketing coordinator at GMT consulting

I'll be your moderator today and I'm excited to be hosting this session. This webinar is brought to you by J MT consulting. We are ERP and financial management solution specialist for nonprofits and we have nearly 30 years of experience, helping nonprofits with technology and business processes for the back office.

That is why we partnered with avid exchange they bring our clients a solution to help streamline their AP process ease audit season stress.

prevent fraud and speed up approval processes and payments, we believe they're one of the best AP automation options for a nonprofit to consider for their organization.

Before we kick things off. Today I wanted to cover a few housekeeping items.

First Today's webinar will be recorded and will be emailed to you for on demand access, along with the slides.

Next we'd love to hear from you. During today's presentation. So if you have a question, please feel free to send it through the Q AMP. A tab at the bottom of your control panel.

We will have a dedicated Q AMP. A session at the end of the presentation where we will answer all of your questions.

And after today's presentation, we will be following up with all of you with a phone call and as a special surprise anyone who books a demo with avid exchange will be entered into a raffle to win a $50 gift card.

So I'd like to get us started by welcoming Vanessa curry and Tim I Rick from avid exchange, who will be leading today's presentation.

Vanessa is a partner marketing manager and Tim is the senior channel manager at avid exchange and without further ado, I'm going to hand things over to Tim to get us started. Tim, over to you.

Tim Eyrich: Thank you so much and welcome everybody. I appreciate your taking the time to be with us today and speak about this very important topic. So let's get started with our agenda for the afternoon.

We are going to look at Tech adoption today.

For game changing technology.

The value of automating AP

The avid exchange product overview and then we're going to finish up with some Q&A

So the adoption of tech continues to accelerate from business continuity related to the Copa 19 crisis and the impact of folks working from home and

This has prevented companies relying on paper checks from being able to pay their bills and there's also a massive fraud risk and growing concerns over fraud and data privacy with paper invoices and paper checks.

Users have experienced the benefits of SAS and cloud solutions for automation and other areas of business. And finally, there's a millennial effect as tech savvy younger population folks take on leadership roles and organizations.

So look at the familiarity with emerging technologies in avidXchange research and white paper showed that a survey revealed familiar familiarity with emerging technologies like AI machine learning, big data and blockchain.

And it's astounding the results that that we got from from the survey with 43% of people being familiar with AI 34% with machine learning.

33% with big data and 27% with blockchain and blockchain is really something that's really been emerging over the last decade or so nice to see that percentage really shooting up

So the impact of technology adoption, you've got 68% of folks saying reporting that Kobe 19 has caused work related stress is to increase. Just imagine

Working from home and. And as you all experience having to drive or or mail things around for approvals and so forth, whereas you normally would have been in the office and

And been able to do still manual tasks, but stop by colleagues offices and get those signatures that you're required to work from home environment as totally really throwing a wrench in that

74% of people reporting that they've had to add new solutions or systems to their tech stack to assist in this environment and 84% of people saying that emerging technologies like AI and automation would improve efficiencies, even during a post pandemic environment.

So for game technology game changing technologies that we're going to look at today AI, artificial intelligence, number one. Number two, the Internet of Things, or IoT

Number three, machine learning.
nd number four, automated solutions. We're going to take a look at each one of these in more detail.

Okay so artificial intelligence. What is it, it can be defined as machines or computers mimicking cognitive functions.

That we associate with the human mind. An example of that is learning and problem solving, or any computer or IoT device that perceives its environment and take action based on its learnings and acts to increase the chances of successfully achieving a goal.

So how our businesses leveraging it today, many B2B companies are already leveraging AI to improve operations, including financial services with

83% of businesses, citing it as a strategic priority among numerous benefits the technology can boost labor productivity by up to 40% By automating mundane.

Tasks that we that take up valuable time for instance Preen Customer Service agents and call centers and back office staff.

From tasks such as gathering preliminary information tracking order status processing invoices and transcribing voice by text.

By automating this work companies cut hiring costs and free staff for more fulfilling strategic responsibilities.

I'm sure as myself. Some of you have experienced this in the internet where you go online and perhaps

A bot a text box pops up on that website and may gather some of that preliminary information in order to route your needs to the right department. All that does is, is make it more efficient and make a streamlined process for getting you

To the right person and AI is also used to audit financial transactions detect fraud and evaluate credit and overall financial history and doing all that to make recommendation of loan and credit offerings.

So we see that AI market is predicted to grow by 190 billion just over the next five years and 43% of research respondents are aware of AI use in fintech

Applications 83% of businesses say AI is a strategic priority and 40% boost in labor particularly productivity by using AI. So some astounding results here.

Related to artificial intelligence and very interesting

The next aspect is internet of things or IoT, what is IoT the Internet of Things leverages network connection to facilitate communication between devices and systems simple speaking it's different devices, talking to each other seamlessly.

So we've got Connectivity the IoT is all about connectivity no longer the businesses have to conduct various processes manually from different devices.

The internet of thing allows for communication and data sharing to happen quicker and easier than ever, but also have customer experience.

The IoT allows for an increase in customer behavior data, how our customers using products, for example, they use this to better understand and predict customer needs and reactions.

efficiencies and productivity with the expansion of IOT within different areas of a business means increasing digitization quicker speed to market and overall increasing productivity and efficiency.

Also have business insights. So what is measured can be improved and IoT allows for businesses to monitor and collect detailed data across multiple areas of a business.

Whether in an office or remote companies can then leverage that data to make informed decisions that can enhance productivity and lower costs.

Finally, there's cost, the more businesses use IoT to streamline operations, the more efficient, they will be expanding the use of IOT to impact their bottom line.

The IoT, you can reduce costs through capabilities like energy monitoring that allows workplaces to control thermostats remotely, for example, think nest at your home, perhaps in cyber security monitoring that mitigates risks and detect fraud all

For incident detection and sending those reports automatically to reduce downtime and save labor costs. So that's the IoT

Machine learning what is this is a component within AI because it can analyze historical data spot habits and make predictions that technology can forecast financial trends predict market risk reduce fraud and even

It could even delay a potentially fraudulent transaction into a human makes a decision and identify future opportunities can also produce actionable insights

Gleaned from advanced reporting and data analytics tools, resulting in an in depth visibility to give high level members. I'm under an organ organization strategic insights

So an overview of our research is that companies of all sizes are continually inundated with massive amounts of data.

Traditionally, they've relied on trained analysts and data scientists to harness the information and produce insights and analytics that are important components of business intelligence, machine learning and big data technology, also known as predictive analytics can help.

About one third of Avid exchange research respondents are aware of use of machine learning and big data in the B2B fintech space.

But adoption is on the rise, IDC reports that worldwide revenues for big data and Business analytics will surpass 200 and $3 billion in 2020

The fintech industry is one of the biggest drivers of its growth.

According to Price Waterhouse Cooper, that the industry is among the best position to take advantage of the technologies because it can analyze historical data spot habits and make predictions.

Technology can forecast financial trends predict market risk reduce fraud and even delay a potentially fraudulent transaction until a human can make a decision.

Once that decision is make made they start identifying future opportunities.

As well. It can also produce actionable insights gleaned from advanced reporting and data analytics tools, resulting in an in depth visibility to give high level members of an organization strategic insights

Next we're going to look at automation solutions.

So business process automation takes time consuming manual and maybe even paper based processes and inserts them into software technologies to automate that process.

All this does is allow employees to have more free time to focus on value added work automation can take various forms across a business from workflow automation to financial process automation, but the benefits of increasing efficiency rings true throughout

The types of business process automation our workflow automation financial automation human resource functions marketing automation.

And the benefits of automation are better allocation of resources increased focus on larger strategic business goals and initiatives deeper insights and detailed reporting less room for human error reduce time and costs and of course increase productivity.

Now we're going to recap the for changing game changing technologies that we dove into number one artificial intelligence or AI. Number two, the Internet of Things, or IoT

Number three, machine learning and number for automated solutions.

What we're going to talk about now is the value of automation for AP

automating AP provides visibility and control you have real time visibility into invoices and payments, including insight into expensive rules as they occur.

You have improved efficiency, reducing invoice and payment processing times streamlining approval workflows, based on your business rules.

Better Time and Labor eliminating manual paper based tasks and allowing staff to focus on more strategic objectives.

And you also get reduce costs you obtain rebate incentives by paying vendors electronically reducing processing costs without adding additional staff.

There's plenty of benefits here for automating AP

And one thing we're going to dive into now up automation, specifically with avid exchange.

So avid exchange process about 12 million payments annually.

We have 15 1500 employees, we're growing rapidly within that for 1500 employees is our 400 service numbers. This is the heart of our operation are dedicated to payment onboarding and processing.

Making sure that suppliers are paid on time, they're paid within the method that they want to be paid, whether that is check or electronically.

They're adding 1000 suppliers per week to our to our massive network and our network already has 680,000 active suppliers and like I said every week growing by 1000

The value in the in the benefit of this network of 680,000 suppliers that we already have in our software and our system how these vendors and suppliers like to be paid.

We have their merchant account if they want to receive a credit card. We have their a CH information. If that's how they want to receive payment or we have the check information in our system so that checks checks get cut right away and set to them.

So we have this massive network. So when we add new clients. So often we already know how their vendors prefer to be paid we integrate with 150 accounting systems.

And we have already over 5500 customers that are using avid exchange every day. So what are the the options for using avid exchange.

We have to automation solutions. We have an invoice process which is called habit invoice. We have a payment process which is called avid pay and we're going to get into those in more detail now.

We're going to start with avid invoice.

avid invoice allows you to eliminate touch points to pay and receive money faster. So to better understand the benefits of

automating accounts payable solutions is important to look at the similarities and differences of the two methods for handling AP

This can help you identify bottlenecks in your own process that can be solved with automation. So right now, you're looking at the flow before automation, the accounts payable process begins when your invoices received by the AP department.

invoices arrived through many different methods, including electronically, perhaps through email. Maybe they're faxed over snail mail in our office deliveries, or maybe a colleague dropping paperwork off in an inbox, or on your desk.

But when AP processes are not centralized and the handling and processing each new invoice is essentially an ad hoc adventure. Think about all

The many processes, you may have in place in terms of approving those invoices, does it mean to signatures. Well, it's above $1 amount. So I need this person to sign off, and so forth.

Once invoices are received. They're either either physically handed to the AP manager or team member or forward if they come in via email and voices are manually typed into an accounting system and maybe scan in as well to create that digital record.

And this is really the best case scenario and assumes that an earpiece system is in place, however, still plenty of opportunity for manual errors and typos in this scenario.

After automation. This is what you what you do process is streamlined and simple you code the invoices you approve the invoices and you select the invoices for payment.

Other than these three cream tiles that you'll retain responsibility for everything else will be offloaded by the automated solution through avid invoice receiving those invoices.

Routing on the workflow. All of that will be automatic built specifically and customized to your business needs so that it makes sense for your business and you have all the efficiencies in place that you need, with all the particulars in place, we can have millions of different

Scenarios in place and workflows in place. It just shows you how customizable software. And so we can really do anything to meet your need to make sure that the workflow makes sense for your business. But in the end,

All you have to do is buy these three things code approved and select

So invoices are imported into our system in one of three ways that can be emailed in we have a specific email address that would be created for your business.

Think ABC plumber at avidxchange calm right so any invoice that comes in for ABC plumber. That would be could be sent to that email address it and routed right into the workflow that we customized for you.

Could also have paper invoices. We set up a specific P. O. Box for your company. If you receive a lot of paper or any paper invoices that can be set up on the east or the west coast.

To really streamline receiving those invoices on your behalf. Any invoice, whether it's paper email, we have

Less than 24 hour to get that in your workflow. So it's, it's almost always same day that the invoice comes in and it's right away. Put in your workflow.

There's also an upload option that you have the, the ability to do if you know those those one offset. Maybe someone comes in and does work for you.

And leaves the invoice right there that day, you have the option of of just scanning that in. Or you could take a picture of it and email it over to the email address, really, really simple way of creating that digital record and that keeping that repository of all your invoices.

In our portal. What we're going to do on your behalf, is once those invoices come in and we've received them. We're going to capture the header detail. We're going to populate all that information into the portal for you. So think invoice number, date and

Whoever the vendor or supplier is and so forth. All of that information will already be populated for you in ready for you to to review and submit for approval.

So this is the pending approval queue. And this shows all invoices requiring action specific to each user's role, as I said,

We could customize this, however, it makes sense for your business. We don't have any user license fees. So you could have three. You can have 10 users. It's up to you. Really, how many users. You want to give access to the portal.

And how you want to assign their roles their roles could be coding or a simple review and whatever the role that makes sense for that person. We can build that into the workflow.

Users will have easy access to all the pertinent data from the invoice number supplier ID and name to the amount. So those users. Maybe they don't need access

To the accounting system. They don't need to make any changes in the accounting system. They just need to look at invoices that come in.

This is a perfect way that they can have access to the Avid exchange portal for that invoice review, but they don't have to have access into the accounting system and have to pay for that user.

The manual approval process and paper invoices slow down payables and consume lots of your time in it. It really leads to miss discount so

The users in here can have access to all the pertinent data from invoice numbers fire ID and name to the amount of invoice.

An avid invoice makes approving invoices really as simple as selecting and clicking approve. As you can see in the top right hand corner that blue button. Of course, they could drill down into the specific details of any invoice. We're going to take a look at what that looks like here.

So if they wanted to any user wanted to drill down into an invoice. You can see on the left that header detail that we've populated for you. Of course, you can see on the right that PDF image that's captured from the invoice itself.

And the left-hand side with that invoice details. I mentioned it shows you all the header information.

It shows you here at the bottom where the coding takes place and avid exchange has smart coding tools that help you populate this information which can save you a ton of time and reducing one of that tedious manual aspect of coding. Some of our smart coding for example could be a default GL

For example, when you receive an invoice from a specific supplier, we could default GL for 100% of that amount to pre populate to a specified account code.

We also have used previous functionality which remembers how an invoice was previously coded and then it remembers that for subsequent times that invoice comes in.

And the system will remember to distribute the lines associated with a particular supplier and supplier account number combinations. So some really awesome features in here to help save you time and money.

And really just help automate your, your invoice approval process and it gives you that

Gives you that depository of all of your invoices that you could have that digital record and and we keep this for you essentially forever. We've never in our 20 years gotten rid of any data, but we have a commitment to keep it.

For at least seven years for you. Of course, if, if there was ever a time that you needed to download any of this. You could download this data.

Into a CSV file what another magical thing about this is, without having to pay for any additional user licenses. If you go under audit.

You could easily provide your auditor a read only access to this portal and they will be able to then gather all the information they need. And think about how much time that saves you that you're not making copies are running around trying to find that invoice or any of those approval.

Details for the auditor. They could just come in here with that read only access they would not be able to change a thing they could search for whatever they wanted to the audit and look at and then you could of course just delete that access after on it.

The next solution. We're going to look at is our pay solution. And that's avid pay

avid pay is all about our network.

So as I mentioned, you get that 680,000 suppliers, we know because we pay the suppliers every month. Some of them, maybe even every week or multiple times a week. We know exactly the conditions under how they like to receive payment.

So we have three different payment methods. We have a MasterCard option we have an avid pay direct option we have a check. So many of these suppliers want to receive electronic payment. It's quick, it's efficient it's protected.

There's essentially zero chance for fraud with that electronic payment. They don't have to worry about waiting

You know, several days for a check to come in the mail or or stolen checks or loss checks and so forth. We have so much

Security around our, our payment.

In place that that's really how so many of them choose to be paid. We have a 28% average of day one supplier coverage. We've got over 4000 utility suppliers.

We've got over 30,000 APB suppliers and that's avid pay direct and that's our enhanced a CH option that we provide for our suppliers, which gives them rich remittance details.

And they have once a beautiful thing that they that they enjoy is our part is our supplier portal where they can go in and really track their payments and see when when they're due to receive that payment and a wonderful feature that we also provide to your suppliers.

We have over 300,000 supplier that hold any payment. So you can see that's how we get to our 40% average the payment adoption and really the beauty of that the power of that is with the payment we receive

Kind of a rebate through that so

cost of doing business for for suppliers is if they want to receive payment right then and they accept

A MasterCard through their merchant account they

They have a fee structure in place with MasterCard, of course, they may have limits on this. They may only want to take payments under $1,000 on on MasterCard and we have all of that built in as well as agreements with them not to to pass on any of those

You know, cost of doing business to our customers. So that's another question that we, a lot of times we get is

You know, if our vendors are being paid by MasterCard, are they just going to pass it on to us and and we only provide MasterCard to them within their agreements, we do not

Try to try to get them to accept the MasterCard outside of their agreements, it's all up to them all up to the suppliers and how they want to enroll in that

And. But what that means is if we get revenue from MasterCard based on on that transaction, we're actually able to share it with you as our as our clients.

And that rebate that's provided to you. Really offsets. A lot of that cost of doing of adding a solution like this in some cases pays for the solution or even

Becomes a profit center for for you.

In your in your department so it's it's really a spectacular solution.

We're going to look into it and a little bit more in depth right here so avid pay optimizes and automates the payment process using payments generated from your accounting system we're only going to make a payment if you approve it.

Haven't exchanged begins the payment process and provides you with the option to approve payments before money movement begins.

However, once those payments are approved money will be pulled from existing your existing bank accounts and payments are made to suppliers, as I mentioned, either the virtual card. It's a one time use MasterCard

And the security around that is that that that MasterCard can only be accepted by the vendor. It's meant for there cannot be any interception of that MasterCard by

A ROBE colleague Cali or any other company. It can only be used at that supplier in their specific merchant account. So there's a lot of security there.

avid pay direct, which is, as I mentioned, our enhanced a CH option.

With the tremendous detail that we provide to that supplier. Again, this is connected to that suppliers account and there's a lot of

Security that we go in place to make sure that money is being sent only to an account that's associated with that vendor in the one that their ownership selects

We also have, of course, the paper check option. We don't want to delay any payment to any vendor.

So we have the check option. And of course, any vendor that wants to receive check will have. We're happy to pay them in that way. So as I mentioned a virtual card is a one time use MasterCard, it's pre loaded with just the right amount of funds.

To pay the approved payment for the invoice. So if the invoices $80 and 13 cents that MasterCard only has $80 and 14 cents on it suppliers that accept that form of payment must already have their own merchant account to accept virtual cards and

Since the virtual card is pre funded. There's no credit involved.

We also have, as I mentioned, the added pay direct a PD enhanced direct deposit. This is our other form electronic payment.

That suppliers can choose if they cannot process virtual cards and once the vendor enrolls in a PT program all payments are automatically deposited into their desire bank account from the Avid paid clearing account.

It's an electronic our electronic remittances also sent to those suppliers preferred email address.

And I mentioned something that I want to touch on which is added a clearing account. So your money is never commingled with avid exchange money. It's never put into any avid exchange bank account.

We use a clearing account in a trust that all of our clients become members of and and money is only

Placed into those clearing accounts never into avid exchange accounts and and never into avid exchange has never come up with an exchange money.

Another thing I want to point out is on these payments, as I said, we we debit your account for payments that you approve, we do it in individual debits that way it's easy and clear for you to keep a record of that and to go back and and and see

That each debit was made individually, we never do a bulk edit.

Also have, as I mentioned avid paycheck and paper checks are always available as payment options to suppliers added paychecks are also issued from the Avid pay clearing account which eliminates the clients exposure to check fraud and risk.

It includes positive pay at no extra cost for every check that's printed and for consistency avid paychecks are formatted identically for all standard avid paid clients, but they do reference the client name.

For ease of reconciliation against the invoice. So those are payment options. And then of course we provide all of those

Details back in our portal for your reconciliation. We provide images of the cleared check, front, back, provide all the remittance details from an avid pay direct is in your portal.

As well as any any virtual card information is in there and what you can do the reconciliation and see that the payment has cleared when it cleared and so forth. So there's a lot of data in there that helps you keep track of your payment processes as well.

So those are the two solutions for avid exchange, you have an invoice in the Avid pay solution. And with that, we're going to move over to questions and answers.

Thank you, Tim. So if anyone has a question for Tim or Vanessa. You can submit it through the Q AMP. A tab at the bottom of your screen.

Alrighty, thank you everyone for attending today. It does look like we have a couple of questions in the queue.

Vanessa Curry: And the first one to him is can I still print checks.

Tim Eyrich: That's a really good question.

Of course, we understand that there's times when you still need to print print checks in house.

You might have a vendor or supplier committed to that day like

I always use the plumbing example. A lot of times, plumbers come at the last minute and might not be anticipated it might not be one of your regular payments, but they come and they fix an issue for example your office or facility.

And a lot of times folks like the write him a check right then and there. Of course, that's fine. They give you an invoice and you you give them a checker. Or maybe you you write the check and put in the middle that day. That's of course time we accommodate for that and

We also offer a self-managed payment option that allows you to print MICR checks on blank checks, Doc. So there's a lot of options around

Being able to keep those payments in house and those one offs. Of course, you could also always, you know, write the check and you have the invoice and like

You could scan or take a picture of it and I put it right into our system. So you have that digital record of the invoice in the system and then you just notate it as as paid on that day so that you don't need to process that payment through added pay. Great question.

Vanessa Curry: Okay, thank you. Um, here's another one. Do you have a feature supply acquisitions and purchase orders.

Tim Eyrich: Yeah, so that's a, that's a great question as well. So we do have features.

For purchase orders and acquisitions and it really depends. It's something that we'd like to dive into on a demo on how we set up that functionality.

It's because it's really dependent on accounting system and so forth. So it's a really great question that we can solve for

We have, we have it within our suite of service of software solutions and certainly would. Would love to show you our options on that. If you're interested in seeing them.

After the after the webinar, sign up for a demo, I would love to get your information and schedule that to show you. Absolutely. Great question.

Vanessa Curry: Excellent. Thank you can I send all of my vendor payments through avid exchange pay

Tim Eyrich: Yes, of course. So you could send all of your domestic payments.

Through added pay only payments, of course, that you select to be paid are going to be paid by having exchange examples of payments for that sometimes we asked about

Like employee reimbursement or inner company reimbursements dividend and so forth, or taxes. Some of those payments. Keep in house. But otherwise, yes, all your all your regular utility and vendor payments to US companies. We can facilitate and

It's great question.

Vanessa Curry: Here's another one. Can you give another example of how avid exchange uses machine learning.

Tim Eyrich: Yeah. So machine learning. One thing that we do is

In addition to, I know I mentioned like our, our smart coding and use previous functionality and default GL functionality on the invoice side.

We also have a lot of machine learning on on the payment side and with some of our payments that you know we have a box and so forth that can process hundreds of these payments.

Almost instantaneously. And that's the beauty of software once vendors are in our network and we have how they like to be paid, whether it's checker. We have

methodology for merchant their merchant account and receiving virtual cards and and they're a CH information we have computer bots that are able to process. You know, like I said, hundreds and hundreds of payments, very quickly. So it's just another beauty of of automating

Vanessa Curry: Thank you. And it looks like another one popped up. Well, my invoice approval process needs to change.

Tim Eyrich: That's a good question. We're going to work. We work with every client to basically set up the system they way they want it to work.

So we provide opportunities, of course, to maybe improve existing processes and find those efficiencies, but if

After our discussions. There's no need to change or one keep everything the same. And just put it into technology. Of course we can mimic any approval process that's in place today. It's really a consultative approach that

Our onboarding team works with our clients to really figure out the best in an ideal way that they would like the process to work and that may mean changes or main mean that things stay the same. It's really up to the call here.

Vanessa Curry: Okay, great. That does look to be the last question in the queue. If anyone has another question that they would like to ask. We do have some time to get those answers.

Kim Fellman @ JMT Consulting : I had a question for you., Tim. So JMT Clients or the two ERP systems that we work with are sage intacct and community brands MIP. Can you talk a little bit about the integration between those two systems?

Tim Eyrich: Sure, so

You know, dependent for sage intacct. We have a great solution that integrates with both invoice and the pay features of Avidxchange.

If there are no there's a question about POS we have that functionality within intact. So we have really a great integration there in place that can solve for a lot of needs.

And of course, depending on all of those needs that solution could even be a nice beautiful API connection into into that.

And so I can you ask, remind me of the other kind of MIP right

Yeah, yeah. So again,

We have a really a really solid integration with MIP as well. We have some customers, of course, that are on that as well and the great thing about avidxchange is

We will customize our solution specific to your needs within those two, whether it's intacct or MIP.

Whatever your needs are, in order for the connectivity of that accounting system to our solution we work with our software architects and we work with our solutions consultants in order to make that connection and integration.

The way that you need it to work. And that's a lot of the part of our demo process and gathering more information about the specific needs of clients on either system on either accounting system.

And why it's it's so important to that we get our solutions consultants and and software architects involved and we get them involved real really early.

In terms of clients coming to us because we want to make sure that we build out that integration and connection exactly the way that you want to see it.

Vanessa Curry: does look like we have another question that popped up is the integration automated or doesn't require initiation from the company accountants.

Tim Eyrich: So that's a great question and it again, it depends on, on the accounting system. So we have integrations with over what like 150 now accounting systems and in depending on the accounting system, the version and so forth. It could be as seamless as the API connection where the systems are speaking back and forth to each other all the time throughout the day really doing all that sometimes we have maybe a file integration where could be, you know, a click of a button to upload that file.

And it just as I, as I mentioned, it really depends on the accounting system and the version. And those are questions specific to clients that we would love to discuss on a personalized discovering demo session so that way we can

Really understand their needs and see what

What we can do to solve for those needs.

Vanessa Curry: It looks like that may be the last question we have today. Again, we would like to thank everyone for attending. We hope you have found this to be informative JM T consulting will be following up with you and we wish everyone a great day. Thank you again.

Kim Fellman @ JMT Consulting : Thank you, everyone. Thank you so much. So this will conclude our webinar and I hope you all have a great day.

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