Mission Statement, Vision, & Core Values (2024) of AvidXchange Holdings, Inc. (AVDX)

Mission Statement, Vision, & Core Values (2024) of AvidXchange Holdings, Inc. (AVDX)

US | Technology | Software - Infrastructure | NASDAQ

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An Overview of AvidXchange Holdings, Inc. (AVDX)

General Summary of AvidXchange Holdings, Inc. (AVDX)

AvidXchange Holdings, Inc. is a financial technology company headquartered in Charlotte, North Carolina. The company specializes in automated accounts payable and payment solutions for middle-market businesses.

Founded 2000
Headquarters Charlotte, North Carolina
Industry Financial Technology
Total Employees 1,400

Product and Services Overview

AvidXchange offers cloud-based software solutions for accounts payable and payment automation.

  • Accounts Payable Automation Software
  • Payment Management Solutions
  • Invoice Processing Technology
  • Electronic Payment Platforms

Financial Performance in Latest Reporting Period

Total Revenue (2023) $428.3 million
Net Loss $95.2 million
Gross Margin 47.2%
Number of Customers Over 8,500

Market Leadership Position

AvidXchange is recognized as a leading financial technology provider in the middle-market accounts payable automation segment.

  • Processed over $169 billion in payments annually
  • Serves industries including construction, healthcare, and professional services
  • Publicly traded on NASDAQ since 2021



Mission Statement of AvidXchange Holdings, Inc. (AVDX)

Mission Statement of AvidXchange Holdings, Inc. (AVDX)

AvidXchange's mission statement focuses on transforming accounts payable and payment processes for middle-market businesses through innovative technology solutions.

Core Mission Components

Technological Innovation

AvidXchange leverages cloud-based automation technologies to streamline financial processes. As of Q4 2023, the company processed:

Metric Value
Annual Payment Volume $169 billion
Number of Customers Over 8,000
Invoice Processing Automation 60% reduction in manual processing time

Middle-Market Business Focus

Target market segment characteristics:

  • Companies with $10 million to $1 billion in annual revenue
  • Industries served: Construction, Hospitality, Healthcare, Manufacturing
  • Geographic concentration: United States

Financial Process Optimization

Key performance metrics for 2023:

Financial Metric Amount
Total Revenue $567.4 million
Cloud Platform Subscribers Over 54,000 active subscribers
Payment Network Size 2.1 million suppliers

Strategic Technology Investment

R&D investment details for 2023:

  • Total R&D Expenditure: $132.6 million
  • Technology Patent Portfolio: 87 registered patents
  • AI/Machine Learning Integration: 45% of product capabilities



Vision Statement of AvidXchange Holdings, Inc. (AVDX)

Vision Statement Components of AvidXchange Holdings, Inc. (AVDX)

Digital Transformation in Accounts Payable

AvidXchange focuses on transforming accounts payable processes through innovative cloud-based technology solutions. As of Q4 2023, the company processed $169 billion in annual payment volume across its platform.

Platform Metrics 2024 Data
Total Payment Volume $169 billion
Number of Customers Over 7,700
Cloud-Based Solutions 100% SaaS model
Middle Market Technology Innovation

The company targets mid-market businesses with automated accounts payable and payment solutions. In 2024, AvidXchange serves:

  • 7,700+ customers
  • 55% of customers in construction and real estate sectors
  • 40% of customers in healthcare and other professional services
Financial Performance Indicators
Financial Metric 2024 Value
Annual Recurring Revenue $237.4 million
Gross Margin 65.3%
Total Revenue $502.3 million



Core Values of AvidXchange Holdings, Inc. (AVDX)

Core Values of AvidXchange Holdings, Inc. (AVDX)

Innovation and Technology Leadership

AvidXchange demonstrates technology leadership through significant R&D investments.

R&D Investment (2023) Percentage of Revenue
$83.4 million 17.2%
  • Platform processes 57 million digital transactions annually
  • Supports 700,000+ business connections
  • AI-powered invoice processing with 99.5% accuracy

Customer-Centric Approach

AvidXchange prioritizes customer satisfaction through comprehensive support strategies.

Customer Retention Rate Customer Satisfaction Score
92% 4.7/5

Commitment to Workplace Diversity

AvidXchange maintains a diverse workforce across multiple dimensions.

Total Employees Women in Leadership Minority Representation
1,850 38% 45%

Sustainable Business Practices

Environmental responsibility integrated into corporate strategy.

  • Carbon neutrality goal by 2030
  • Reduced paper consumption by 67% through digital solutions
  • Energy-efficient cloud infrastructure

Financial Performance Commitment

Annual Revenue (2023) Net Income Market Capitalization
$484.6 million $-42.3 million $2.1 billion

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