Industry leaders collaborate on exclusive payment embedded automation integration for CoreSelect™

CHARLOTTE, N.C., Nov. 29, 2023 (GLOBE NEWSWIRE) -- AvidXchange, a leading provider of accounts payable (AP) automation software and payment solutions for middle market businesses and their suppliers, and M3 Accounting Solutions, Inc. (“M3”), North America’s #1 provider of accounting software and services, today announced a partnership to provide hotels a fully automated financial management solution. As part of this partnership, M3 will embed AvidXchange’s industry-leading payment automation technology into CoreSelect™, its latest cutting-edge accounting offering, providing the industry a more efficient and accurate way to manage its deeply complex payments process.

The CoreSelect™ offering is tailored to seamlessly integrate with day-to-day hotel financial operations and reporting, delivering efficiency to M3 customers. This integration provides customers with additional efficiencies as AvidXchange offers complete vendor and payment management, which can result in significant time and cost savings by reducing the need to support this need manually through a paper-based process.

“We’re excited to be working with M3 and for their hotel customers to experience the many value-adds of AvidXchange’s payment technology,” said Michael Praeger, Chairman, Chief Executive Officer, and Co-Founder of AvidXchange. “With hospitality management facing ongoing payment hurdles, we’re confident that this integration will arm M3’s CoreSelect™ customers with the tools they need to create efficiencies and accelerate financial processes, ultimately giving them more time to focus on what really matters – guest experience.” 

“We’re proud to partner with M3, a like-minded industry leader, to help solve the deeply complex payment needs of customers in the hospitality management industry,” said Brian Thayer, Vice President and General Manager at AvidXchange. “This partnership with M3 underscores AvidXchange’s expertise in the ability to continuously innovate our solutions to meet the needs of our customers.”

Casi Johnson, President of M3, agrees: "Our partnership with AvidXchange will enable individual hotel operators to take advantage of payment automation, streamlining their accounting operations, and providing real-time visibility into their financial performance. We're thrilled to offer our customers this powerful enhanced capability."

To learn more, visit: www.avidxchange.com/integrations/m3/

And to learn more about CoreSelect™, visit: www.m3as.com/software/coreselect/

About AvidXchange^®
AvidXchange is a leading provider of accounts payable (“AP”) automation software and payment solutions for middle market businesses and their suppliers. AvidXchange’s Software-as-a-Service (“SaaS”) based, end-to-end software and payment platform digitizes and automates the AP workflows for 8,800 businesses and we have made payments to 965,000 supplier customers of our buyers over the past five years.

Additionally, AvidXchange, Inc. is a licensed money transmitter for US B2B payments, licensed as a Money Transmitter by the New York State Department of Financial Services, as well as all other states that require AvidXchange to have a license.

To learn more about how AvidXchange, and its publicly traded parent AvidXchange Holdings, Inc. (Nasdaq: AVDX), are transforming the way companies pay their bills, visit www.AvidXchange.com.

About M3

Built by hoteliers exclusively for hoteliers™, M3 is a robust cloud-based financial platform and services company serving over 8,000 properties across North America's hospitality industry helping drive cost savings, revenue enhancement, and business insight. After almost 25 years in business, M3 touts a 95 percent customer retention rate. Used by over 1,000 management groups and owner-operators and hotels of all sizes, the platform works seamlessly with other key systems and tools in the hospitality industry. It offers robust accounting and financial analysis across entire portfolios with optional operations and time management features. M3's Professional Services team provides on-demand accounting and bookkeeping support for hotels and portfolios of any size by offering a full range of customized accounting solutions that can scale with a hotelier’s needs. Privately held and employee-owned, M3 continues to constantly enhance products and services with regular releases and updates. “M3”, “CoreSelect”, “M3 Concierge”, and “Accounting Core” are all trademarks owned by M3; all other marks are owned by their respective owners. For more information, visit www.m3as.com.

Media Contact
Olivia Sorrells – AvidXchange
osorrells@avidxchange.com
386-848-3656

Haley Wolf – M3
Haley.Wolf@M3AS.COM
770-533-0545