Latest news with #APautomation
Globe and Mail
20-05-2025
- Business
- Globe and Mail
Media Agencies Under Pressure, Turning to AI to Strengthen Financial Health and Cash Flow, AvidXchange Survey Reveals
CHARLOTTE, N.C., May 20, 2025 (GLOBE NEWSWIRE) -- AvidXchange Inc. (Nasdaq: AVDX) a leading provider in accounts payable (AP) automation software and payment solutions for mid-market businesses and their suppliers, today announced findings from its 2025 Media Agency Health Survey. The survey polled financial leaders at U.S. media and advertising agencies, revealing rising concerns about cash flow management and growing demand for AI-driven solutions to strengthen their financial health. Key Drivers of Financial Health Agencies cited revenue growth (92%), data protection (91%), and fraud prevention (88%) as vital to financial stability. Cash flow, improved invoicing, talent management, and operational efficiency also ranked as important contributors. These priorities reflect a continued need to protect profitability while safeguarding operations in an increasingly complex financial landscape. Adapting to Uncertainty Agencies continue to feel the pinch of economic uncertainty, with 35% losing clients to in-house advertising in 2025, a 20% jump from 2024. Rising turnover, up 32% from 2024, is further stretching teams that are already facing tight budgets. Cash Flow Pressures Rise Despite 85% of respondents rating cash flow as critical to financial health, many agencies struggle with managing it. In 2024, 54% of agencies reported extended payment terms from clients, and 36% expect continued disruptions to cash flow, making it harder to manage expenses and growth. AI and Automation are Transforming Financial Operations 71% of agencies already use AI in finance, and 97% are open to new automation tools. Among adopters, 80% have automated significant parts of their finance function, including payment processes. Media finance teams are using AI-enhanced tools to tackle a key pain point—invoice reconciliation—which takes up 30–40% of finance leaders' time. 'Media agencies are under more pressure than ever as clients reallocate budgets to safeguard their businesses in today's uncertain economy, and as a result, agency leaders are scrutinizing operations, revenue strategies, and cost drivers more closely,' said Dan Drees, President of AvidXchange. 'That's where AvidXchange comes in. Our world-class AP automation technology provides greater visibility and control over their bills, backed by an incredible customer support team dedicated to helping them navigate change and drive efficiency.' Survey Methodology AvidXchange used the third-party market research company Prodege to conduct an online survey to 156 decision makers at U.S. media and advertising agencies, conducted between January 23-26, 2025. 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
National Post
08-05-2025
- Business
- National Post
Direct Commerce Appoints Fintech Executives as President and Head of Sales, Closes Follow On Growth Funding
Article content Article content SAN FRANCISCO — Direct Commerce Inc., the company revolutionizing AP automation, today announced two strategic hires, the closing of a follow-on fundraise, and its new model designed to create a true win-win for enterprises and their supplier networks. Article content Direct Commerce's new model is aimed at transforming the relationships between enterprises and their supplier networks. For decades, supplier finance programs delayed payments and buried hidden fees in complex terms – which forced suppliers toward predatory lending with extremely high APRs. But these aren't just suppliers, they are the backbone of an enterprise's supply chain. Direct Commerce's Supplier First™ approach to supplier financing changes the game: buyers retain 100% of early payment discounts, while suppliers pay a low-cost membership fee for transparent, affordable access to the capital they're already owed. Supplier First™ features empower suppliers to play a key role in accelerating the invoice approval and payment process. Article content 'This new model optimizes supplier and buyer relationships, enhances workflows, and ensures accuracy and compliance,' said John Mecklenburg, CEO of Direct Commerce. 'It also ensures that companies capture the full value of AP automation. We're proud to bring Joe and Jesse onboard to help forge this smarter way forward.' Article content Joe Hyland has been appointed President of Direct Commerce. Hyland has served as an executive at numerous fintech companies and has a record of building leading brands and award-winning teams throughout his career. He helped spur Taulia, the supply chain financing company, to record revenue by revamping its brand with marketing and media efforts that championed SMEs in their struggle for fair payments. Taulia was acquired by SAP. Article content At the Goldman Sachs-backed ON24, a leading webinar and digital experience company, Hyland served as CMO and helped transform the company's performance. ON24 doubled its number of customers under Hyland and its IPO valued the company at more than $3 billion. He also ran product strategy for electronic invoicing and payments at Bottomline, which was acquired by Thoma Bravo. Article content Jesse Henry, a seasoned sales executive with decades of experience in B2B automation and working capital solutions, joins Direct Commerce as Head of Sales and Go-To-Market Strategy. Henry has led transformational initiatives across procure-to-pay (P2P) and order-to-cash (OTC) functions. He has specifically focused on AP automation and working capital strategies, helping many of the world's largest enterprises better manage their cash and improving supplier access to capital. He's held executive roles at Taulia, SAP, C2FO, Medius, and most recently, TreviPay. Across startups and global enterprises, Henry has consistently demonstrated success bringing disruptive working capital and B2B automation technologies to market. Article content The company also announced the close of a growth round from W3 Capital. Article content 'In today's volatile market conditions, it is critical that enterprises have transparency across their supplier networks and fast, affordable access to capital for their suppliers,' said Steve Wadsworth, Partner at W3 Capital and Board Member of Direct Commerce. 'Joe and Jesse have a strong vision for helping companies unlock new avenues for growth, and we're excited to work with them to capture this massive market opportunity.' Article content These announcements reflect Direct Commerce's commitment to creating a more fair, transparent, and mutually beneficial financial system for enterprise buyers and their supply chains. Article content Article content Article content Article content Article content
