AvidXchange, a U.S. fintech that provides accounts payable and automated payment solutions to midsize businesses, announced on Monday it has expanded its strategic e-payments partnership with MRI Software, a real estate software solutions provider. AvidXchange reported that as part of the enhanced partnership, it and MRI will now offer MRI Vendor Pay powered by AvidXchange (MVP) to MRI Affordable Housing customers to enable an integrated, fully embedded payments experience.
“Launched earlier this year, MRI’s Affordable Housing solution is built specifically for affordable housing portfolio owners who face unique challenges around multi-family compliance and inventory shortages. MRI Affordable Housing users will have the option to select MRI Vendor Pay Powered by AvidXchange and AvidInvoice to complete AP and payment processes, providing a faster, more secure way to approve invoices and make payments electronically directly within their MRI solution.”
While sharing more details about the partnership’s expansion, Michael Praeger, CEO and Co-Founder of AvidXchange, stated:
“AvidXchange will help affordable housing owners spend less time on paperwork and more time focused on the properties they manage. With AvidXchange and MRI’s integrated technology, they’ll have automated AP and payment processes that are scalable, better positioning MRI customers to expand portfolios and make affordable housing available to more people.”
John Ensign, President and Chief Legal Officer of MRI Software, also commented:
“MRI technology is used to manage operations and equity for more than 50 percent of the U.S. affordable housing sector because we offer the right tools for multi-layered subsidies and mixed portfolios. AvidXchange is a trusted partner and bringing them into our ongoing efforts for this industry increases the benefits we’re able to provide clients, giving users more application options that work in tandem with their core MRI product.”
AvidXchange and MRI added they will also deepen the existing integration between MRI Property Management and AvidXchange’s AP and payment solutions to deliver more value to real estate customers.