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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
Globe and Mail
16-05-2025
- Business
- Globe and Mail
IBN Technologies AP Automation Services Drive Real-Time Financial Transformation Across the U.S.
"AP Automation Services (USA)" As U.S. businesses seek efficiency in finance operations, IBN Technologies is driving the adoption of real-time AP automation. Their scalable solutions eliminate manual workflows, boost accuracy, and enhance vendor relationships. Designed for modern enterprises, IBN's tools provide fast, secure, and cost-effective automation—turning AP into a strategic asset that fuels business growth. Miami, Florida, 13 May 2025 - As businesses across the United States pursue greater efficiency and control over financial operations, the demand for robust AP automation services is at an all-time high. The shift from manual invoice processing to intelligent accounts payable automation process is transforming traditional finance departments into strategic contributors to business growth. This accounts payable automation solutions are empowering business owners, financial leaders, and accounting heads to gain real-time visibility, improve accuracy, and streamline operations without the inefficiencies of legacy systems. Companies like IBN Technologies provide advanced AP automation tools that effectively scale business needs. Designed for modern enterprises, their solutions are distinguished by their enterprise-grade features, cost-effective models tailored for U.S. businesses, unmatched reliability, and high-level data security. By streamlining traditional workflows and eliminating complexity and delays, they ensure businesses manage high-volume accounts payable operations with precision and efficiency. Automate AP and boost efficiency instantly. Book your Free Consultation: Key Challenges Faced by Businesses Without AP Automation Despite technological advancements, many organizations struggle with the outdated manual accounts payable workflows. These challenges include: Paper-based and spreadsheet systems are prone to human error, resulting in duplicate entries, delayed payments, and disrupted cash flow, which can harm supplier relationships. Disorganized approval chains slow down invoice processing, create confusion among teams, and reduce overall accountability. Scaling manual workflows becomes increasingly difficult as invoice volumes grow, often requiring additional staff to keep up. Disconnected finance and procurement systems make it harder to track transactions, leading to inefficient audits and reduced visibility. Lack of automation exposes sensitive financial data to fraud risks and significantly extends the time required for audit preparation. IBN Technologies' AP Automation Capabilities IBN Technologies has developed comprehensive accounts payable automation solutions that address the above challenges with precision and business logic. Key highlights of their platform include: ✅ Invoice Data Capture and Validation: Automated systems seamlessly extract and verify data from both digital and scanned invoices. With built-in rule engines and cross-platform referencing capabilities, the process ensures data accuracy while reducing manual input errors. ✅ PO-Based Invoice Matching: AP Automation tools reconcile purchase orders with incoming invoices in real time, eliminating the need for manual oversight. This ensures faster processing cycles and prevents discrepancies in financial records. ✅ Invoice Approval and Routing: Smart routing engines direct invoices to the right individuals or departments based on predefined business rules. This reduces approval delays and boosts accountability across all finance functions. ✅ Payment Processing: Automated payment modules send timely alerts and reminders, ensuring deadlines are met consistently. This minimizes the risk of late fees and strengthens vendor confidence. ✅ Vendor Management: A centralized platform for vendor interactions simplifies communication, tracks transaction histories, and supports faster query resolution. The result is improved vendor satisfaction and less administrative overhead. ✅ Workflow Standardization: Consistent and policy-driven workflows are enforced across all locations, helping organizations maintain compliance and operational efficiency. Automation ensures uniformity in processes regardless of geographical spread. AP Automation in Action: A Game-Changing Transformation By implementing intelligent AP automation, the real estate and property management firm transformed its financial operations. Key outcomes included: • An 86% reduction in AP approval times, accelerating invoice processing and enhancing cash flow efficiency • A 95% decrease in manual data entry, boosting data accuracy and freeing teams to focus on strategic initiatives These accounts payable automation case study results highlight the power of Automated Real Estate AP Processes to deliver measurable impact, reduce costs, and drive operational excellence. Seamless Automation: The Future of Accounts Payable As businesses across the U.S. continue to adopt digital-first strategies, the need for scalable, secure, and intuitive accounts payable automation solutions becomes paramount. Platforms that deliver measurable value—reducing costs, improving compliance, and enhancing visibility—are essential for business growth. With customized features for growing businesses and reliable integration capabilities, financial teams are shifting from labour-intensive workflows to smart automation that fuels performance. IBN Technologies provides AP automation services specifically designed for modern finance departments. By aligning technology with practical business needs, their solutions deliver faster approvals, enhanced controls, and a streamlined accounts payable process. These services reduce manual effort, improve accuracy, and provide greater visibility across the entire AP lifecycle, supporting operational efficiency and consistency. Related Services: Intelligent Process Automation: About IBN Technologies IBN Technologies LLC, an outsourcing specialist with 25 years of experience, serves clients across the United States, United Kingdom, Middle East, and India. Renowned for its expertise in RPA, Intelligent process automation includes AP Automation services like P2P, Q2C, and Record-to-Report. IBN Technologies provides solutions compliant with ISO 9001:2015, 27001:2022, CMMI-5, and GDPR standards. The company has established itself as a leading provider of IT, KPO, and BPO outsourcing services in finance and accounting, including CPAs, hedge funds, alternative investments, banking, travel, human resources, and retail industries. It offers customized solutions that drive efficiency and growth.
