Case Study: Avid Acceptance achieves 80% reduction in paper checks with Finexio

Avid Acceptance experienced 80% in paper check reduction

Avid Acceptance, an indirect auto-finance company, was operating with a cumbersome, manual accounts payable process and was mailing thousands of paper checks each year as many suppliers were slow to adopt electronic payments. To modernize AP and move away from legacy payment methods, Avid partnered with Finexio to implement AP payment automation and supplier enablement.

Finexio deployed a payment platform and supplier enablement strategy that expanded payment options (including Virtual Card) and drove digital adoption: 30% of spend was moved to Virtual Card, 75% of invoices were converted to digital payments (from 0%), and 40% of the supplier base moved to digital payments. The program reduced paper checks by 80% and saved roughly 80 AP hours per month, enabling staff to focus on higher-value activities.

Avid Acceptance

Curtis Ash

Chief Financial Officer